US Navy

Started by deleted87051
Get help with your application

Use all the free resources available to you from SDN: articles, guides, expert advising, forums discussions, and school research.

Browse articles Compare schools My application plan Read Interview Feedback
Practice for interviews Ask an Advisor
D

deleted87051

$600k sign on bonus??


Anesthesiologist (US Navy Full-time)
Anesthesiology Full-Time position in United States | Doximity

IMG_3661.png

IMG_3662.png
 
Yeah it’s the commitment + salary that matters. 6 year commitment it’s a 100k bonus to your salary, which many is usually pretty low even for civilians, they have a good feeder system of navy people who want to stay in for career goals, plus the benefits and retirement are supposed to be very good…still speaks to the competitive current environment
 
Retirement no longer that great, as they eliminated the pension for new people several years ago. Tricare for life is ok. The insurance pays supremely poorly, so a lot of private docs won't take new Tricare patients, but it's dirt cheap, and hospitals will take it, at least.
 
Accession bonuses for joining the military as a physician are typically not paid as a lump sum up front, but as an annual payment over the course of the initial contract. There are however multiple paths into the military, so I'm not sure what the fine print for this one says.

$600K is likely for a 4 or 6 year commitment and would be paid in $100-150K installments.

As of a couple years ago, annual salary for a mid-career military anesthesiologist on a retention bonus contract (i.e. voluntary extension AFTER your "scholarship" obligation was paid back) was in the neighborhood of $250-275K, depending on zip code. Less if not on such a retention contract. Joining with an accession bonus incurs a service obligation that generally makes one ineligible for a retention contract.

Without knowing more specifics about this particular program, I'd guess it might have been an OK deal 10 years ago. In today's market, it sounds like a very poor financial deal.


psychbender said:
Retirement no longer that great, as they eliminated the pension for new people several years ago.
Click to expand...

It's not eliminated, just reduced. Instead of a 2.5% per year multiplier, it's 2% (plus some trivial TSP/401k match). So instead of retiring at 20 years with 50% of your base pay, the new deal is retiring at 20 years with 40% of your base pay.
 
pgg said:
As of a couple years ago, annual salary for a mid-career military anesthesiologist on a retention bonus contract (i.e. voluntary extension AFTER your "scholarship" obligation was paid back) was in the neighborhood of $250-275K, depending on zip code. Less if not on such a retention contract. Joining with an accession bonus incurs a service obligation that generally makes one ineligible for a retention contract.

Without knowing more specifics about this particular program, I'd guess it might have been an OK deal 10 years ago. In today's market, it sounds like a very poor financial deal.
Click to expand...

Listing posts income as 190-350k so looks like a poor deal unless you could leave after 1 or 2 years.

Another thing that surprised me is that they’re willing to take people up to 64 years old.


IMG_3690.png
 
Military has always had a provision up to age 65 I believe. FWIW usually when they start sending these big bonus offers out we were in a significant conflict soon after! I would often talk to recruiter but could never get past the military “logic” or lack thereof!!
 
You must log in or register to reply here.