anyone getting or hear about stipends paid to residents for exchange of future employment after residency? not military/gov't but practices/hospitals trying to secure docs early in their careers by offering 1600-3000 extra dollars a month on top of their puny resident salary. any info would be awesome
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STIPEND resident
Started by DeanWormer
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I know a resident who has signed a contract with a small town for anesthesiology who is receiving 2 grand per month from them starting from intern year through forth year.
the problems with this include:
1.usually people who do this have a large family to support right from the beginning and feel compelled to bring in more cash during residency.
2.you are giving up any right to compare other job offers at the end of your training when job opportunities may be different or your goals and desires may have changed.
3.I have heard that these contracts usually have an escape clause, but the cash changes into a loan and if you break the deal, you are charged interest just like any other student/residency loan.
4. Most people who sign something like this in med school, are locked into a primary care field from the get-go, and these people usually express regret later.
5. Residents who sign these deals are in the specialty of their choice, but usually tend to express envy at their cohorts who tell about their job offers/choices at the end of residency.
6. Also, before you sign up for this, be sure you know the group VERY well, typically this the UNCOMMON way for people to get "the good jobs", so the odds of having wonderful working conditions seems low.
7. Places that tend to pay what may seem to be exhorbitant sums should red flag you that something else is factoring in, whether it be a unpopular to undesirable location, or small town where they "own you."
8. Read over any contract with an attorney who specializes in medical contract review. I have heard this service only costs around $200. Cheap vs years of misery for a simple understanding.
Hope this helps.
the problems with this include:
1.usually people who do this have a large family to support right from the beginning and feel compelled to bring in more cash during residency.
2.you are giving up any right to compare other job offers at the end of your training when job opportunities may be different or your goals and desires may have changed.
3.I have heard that these contracts usually have an escape clause, but the cash changes into a loan and if you break the deal, you are charged interest just like any other student/residency loan.
4. Most people who sign something like this in med school, are locked into a primary care field from the get-go, and these people usually express regret later.
5. Residents who sign these deals are in the specialty of their choice, but usually tend to express envy at their cohorts who tell about their job offers/choices at the end of residency.
6. Also, before you sign up for this, be sure you know the group VERY well, typically this the UNCOMMON way for people to get "the good jobs", so the odds of having wonderful working conditions seems low.
7. Places that tend to pay what may seem to be exhorbitant sums should red flag you that something else is factoring in, whether it be a unpopular to undesirable location, or small town where they "own you."
8. Read over any contract with an attorney who specializes in medical contract review. I have heard this service only costs around $200. Cheap vs years of misery for a simple understanding.
Hope this helps.
What he said.
I get a 3000 a month stipend, but I just started getting it during my fellowship. Hold out as long as you can because the job offers get better the longer you wait. My contract attorney charged a flat rate of 500, but it was the best money I ever spent.
All the things said above are good advice. The biggest thing to consider is WHY a hospital or practice would be willing to do this. Except in rare cases, it has to be because no one wants the job. Otherwise, they could simply place an ad when ready to hire and people would apply for the job.
All the things said above are good advice. The biggest thing to consider is WHY a hospital or practice would be willing to do this. Except in rare cases, it has to be because no one wants the job. Otherwise, they could simply place an ad when ready to hire and people would apply for the job.
http://kishhospital.org/employment_opportunities/physician_opportunities.html
This is the hospital where I work now, it is a very small community hospital, but it seems like a pretty decent deal if you didn't mind living in a college/farm town for a few years.
This is the hospital where I work now, it is a very small community hospital, but it seems like a pretty decent deal if you didn't mind living in a college/farm town for a few years.
Sure... "Doctor needed at BFE community hospital. We are out in the middle of nowhere and there are no theathers or clubs to go to, or other social activities you may be used to, and we only have a one room school house, but we want qualified doctors to come work here. Salary competitive and commensurate with experience." Might work if it is a physician fresh out of residency or a doctor with lots of experience near retirement who wants to hide from the rest of the world.
The fact is that most graduating residents want to work in a more urban location, so the more rural areas continue to have a need. There aren't many of us who choose to go into practice in rural settings, so hospitals do what they can to try to attract, and hopefully keep, qualified physicians. Asking for a stipend is not unheard of, but is not common practice either, and if you play your cards right it can be rewarding without stifling your ability to look elsewhere should you change your mind (it's called making the stipend a forgiveable loan).
