Ways to Make Money As A Resident Without "moonlighting"

[VentJockey]

Hi! So I recently matched in a program that doesn't allow moonlighting. Its in a very high cost of living area, and I'd like to find a few ways to increase my income a little bit by doing some work on the side that isn't moonlighting. So far I've come up with a few ideas, but I'd love some more input.

1) USMLE tutoring. I think I can charge around $30/hr for online tutoring and work it into my schedule in the evenings and on the days off.

2) Surveys. I have to check to make sure my employer doesn't prohibit this, but I think there are companies out there who will pay physicians (and I imagine for some studies this includes residents) to give opinions.

3) Writing: paid writing gigs, if I can find them, would be super fun.

Anyone have any other ideas on how to generate a little bit of extra income? I'm one of these guys who sees setting my financial future up now by saving to be super important.

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[samsoniter]

Agree about saving for the financial future, not sure what specialty you are in but residency can be very time intensive and taking time away from learning your specialty could be detrimental. That being said, I know you can tutor USMLE, there are some companies that pay handsomely to go to people homes and perform H&P's for insurance purposes...not treatment involved. However, you need a state licence (thus at least 1 year post grad training) and I am not sure if this would qualify as moonlighting. Surveys may be tough, I do not know of any....and one obstacle you may come across is the lack of a state license.

 

[Mapplicant]

Another thing a close friend of mine who is doing is doing assessment scoring from home. You know those standarized tests you took that wasn't for a grade but for measuring state/national educational goals when you were in middle/high school? Yup. They need people to score them.

The company that he works for is called Pearson I believe and he found it one day just by scrolling down the craigslist jobs page. All you need is a college degree and say what area your preferences is (biology, math, reading, etc.) and boom you can get a job that way.

Only thing is it's a temp/contract job so they call you when they need you. But hey, any easy extra income on the side from home sounds like a sweet deal to me. Apparently avg is 10-12 bucks an hour.

Basically, the way I look at it, the best on the side jobs are those that you can do from home. I would think that being a resident would be very physically taxing so traveling to another job and working would be quite hard. Besides with monthly rotation changes it will be hard to predict a set schedule if you actually decide to say wait tables or something.

 

[SouthernSurgeon]

Hi! So I recently matched in a program that doesn't allow moonlighting. Its in a very high cost of living area, and I'd like to find a few ways to increase my income a little bit by doing some work on the side that isn't moonlighting. So far I've come up with a few ideas, but I'd love some more input.

1) USMLE tutoring. I think I can charge around $30/hr for online tutoring and work it into my schedule in the evenings and on the days off.

2) Surveys. I have to check to make sure my employer doesn't prohibit this, but I think there are companies out there who will pay physicians (and I imagine for some studies this includes residents) to give opinions.

3) Writing: paid writing gigs, if I can find them, would be super fun.

Anyone have any other ideas on how to generate a little bit of extra income? I'm one of these guys who sees setting my financial future up now by saving to be super important.

You have to be careful. Some programs define any extra source of income, even non-clinical work such as tutoring, as "moonlighting".

 

[shan564]

I write practice questions for various medicine-related exams, and I agree that it's a good way to get some supplemental income. The nice thing is that you can do it while watching baseball in the background. If you're interested and you're a decent writer, send me a PM and I'll tell you more about it.

 

[jkhamlin]

Hi! So I recently matched in a program that doesn't allow moonlighting. Its in a very high cost of living area, and I'd like to find a few ways to increase my income a little bit by doing some work on the side that isn't moonlighting. So far I've come up with a few ideas, but I'd love some more input.

1) USMLE tutoring. I think I can charge around $30/hr for online tutoring and work it into my schedule in the evenings and on the days off.

2) Surveys. I have to check to make sure my employer doesn't prohibit this, but I think there are companies out there who will pay physicians (and I imagine for some studies this includes residents) to give opinions.

3) Writing: paid writing gigs, if I can find them, would be super fun.

Anyone have any other ideas on how to generate a little bit of extra income? I'm one of these guys who sees setting my financial future up now by saving to be super important.

Commission as a provider in the National Guard. The residency program, by law, can't prevent this type of "moonlighting."

 

[OBMDMPH]

I teach online for Kaplan for the MCAT and the other Pre-Health tests. It's a super easy job and you can TA from behind the scenes (and therefore can literally just log in, answer some questions and get paid $20 an hour) If you actually teach it, you'll make $30+ an hour. I plan on keeping this job and working 4-6 hours a week just for a little extra cash this year in residency.

 

[QofQuimica]

Have you started residency yet? I'm assuming no since you said you just matched. In that case, I would not do any type of extra anything for your first several months. Being a new intern is a full time job and then some. You don't want to jeopardize your work as a resident, especially when you're just getting started. Plus, you are not going to be able to earn enough money outside of residency to support yourself anyway. So focus on doing well in residency for several months, and then you can start thinking about adding on extra "projects." If you're really short on cash, you should consider looking at ways to decrease your expenses instead. Most people's biggest expenses are for housing and transportation. Can you get a roommate or move to a cheaper apartment? Can you sell your car and get by without one? Some of the current residents at your program may be able to give you additional advice on ways to save money or otherwise stretch your budget. Congrats on matching, and best of luck. 🙂

 

[ArkansasHogMD]

Find a suga momma or daddy depending on your preference.

 

[IMvrach]

Aren't there any options to take a personal line of credit? There are quite a few residents buying homes, but is it possible to loan say $20000/year to help with the rent and other expenses until finishing residency or even fellowship?

 

[michaelrack]

Aren't there any options to take a personal line of credit? There are quite a few residents buying homes, but is it possible to loan say $20000/year to help with the rent and other expenses until finishing residency or even fellowship?

no. They don't give lines of credit to fund living expenses- though if a resident has equity in a house, a home equity line of credit/loan would be a possibilty.

 

[SeekerOfTheTree]

Aren't there any options to take a personal line of credit? There are quite a few residents buying homes, but is it possible to loan say $20000/year to help with the rent and other expenses until finishing residency or even fellowship?

Don't do this.

 

[IMvrach]

What's the reasoning? Students loan much more than this. Wouldn't it be preferable to live 6 years on $60k a year than 5 years on $40k and another year on 200k?

Don't do this.

 

[Cali2]

What's the reasoning? Students loan much more than this. Wouldn't it be preferable to live 6 years on $60k a year than 5 years on $40k and another year on 200k?

After all, once you're in for a couple 100K, whats another 60K in loans.....

This is the kind of reasoning that gets people in trouble. Don't do this.

 

[IMvrach]

I have no debt. There are some advantages to being an IMG. But also no credit history.

Still, even if one has debt, it's not like I'm advocating loaning without restraint. Is it better to sacrifice your training or even leisure to do some odd job for $30/hour instead? It's a financial decision, even considering interest you have to pay, your loan in 5 years will worth less work hours than today.

After all, once you're in for a couple 100K, whats another 60K in loans.....

This is the kind of reasoning that gets people in trouble. Don't do this.

 

[NotAProgDirector]

What's the reasoning? Students loan much more than this. Wouldn't it be preferable to live 6 years on $60k a year than 5 years on $40k and another year on 200k?

Student loans are guaranteed by the gov't, and can't be discharged in bankruptcy. The loan you are talking about is basically a credit card -- an unsecured loan. Nothing would stop you from declaring bankruptcy just before graduating (although there would be some serious financial downstream effects from this). Very few banks will give you an unsecured loan of that size. Especially with no credit history. You could return to your country of origin and leave them high and dry, for example.

 

[IMvrach]

The argument was that one "shouldn't do it" because loans are universally evil. I did not have any doubt that banks will be reluctant to extend an unsecured line of credit to me, at least in the first year, but it's possible: there are higher levels of risks than a physician declaring bankruptcy in the last year of fellowship to scam a bank of $60k.

And I don't know the system in the US yet, but I have a suspicion they do not check if I'm a PR or not, unless it's can be inferred somehow from the SSN number. And even if they check, I am not sure I will be perceived as a higher risk than someone who won a Green Card Lottery 3 years ago or get a PR any other way recently. And banks lend to such people routinely. Will wait and see.

Student loans are guaranteed by the gov't, and can't be discharged in bankruptcy. The loan you are talking about is basically a credit card -- an unsecured loan. Nothing would stop you from declaring bankruptcy just before graduating (although there would be some serious financial downstream effects from this). Very few banks will give you an unsecured loan of that size. Especially with no credit history. You could return to your country of origin and leave them high and dry, for example.

 

[sacrament]

I'm one of these guys who sees setting my financial future up now by saving to be super important.

So if I'm interpreting this correctly, you don't need extra money, it'd just be a nice thing to have. In that case, I wouldn't bother with any of this stuff. It's peanuts comparing to what you'll be making in even a low-paid physician job. You really want to make $30 an hour tutoring somebody? That's not worth your time. It very literally isn't. You can spend that time studying or sleeping and it'll be a better return on your time investment. Over the course of a year, you might make something like a couple thousand dollars, maybe, piecing together all of these little gigs, and it'll amount to two days of work as a hospitalist (for example).
Of course, if you need extra money right now, then it's a different story.

 

[Winged Scapula]

Once I have an unrestricted license, is there any legal limit to my scope of practice? For example, if a friend of mine wants me to be their paid psychiatrist, is that possible? Or if I wanted to practice concierge medicine, are there any barriers to doing so?

Malpractice insurance.

Your residency policy does not cover you for external moonlighting activities.

 

[Law2Doc]

The argument was that one "shouldn't do it" because loans are universally evil. I did not have any doubt that banks will be reluctant to extend an unsecured line of credit to me, at least in the first year, but it's possible: there are higher levels of risks than a physician declaring bankruptcy in the last year of fellowship to scam a bank of $60k.

And I don't know the system in the US yet, but I have a suspicion they do not check if I'm a PR or not, unless it's can be inferred somehow from the SSN number. And even if they check, I am not sure I will be perceived as a higher risk than someone who won a Green Card Lottery 3 years ago or get a PR any other way recently. And banks lend to such people routinely. Will wait and see.

First, let's not underestimate the impact of bankruptcy. Many will never take you on as a "partner" with this kind of financial history. So it limits your career on some paths. Second, you act like borrowing money from private lenders isn't costly. You will be paying interest at very high levels -- as high as banks are allowed to charge without it constituting usury-- pretty much at the same rates as you would if you just took cash advances out on multiple credit cards. It won't be just $60k of debt if you are talking 20k a year of principle -- by the end of fellowship it will be hundreds of k. It will quickly outpace any notion of your "work hours being worth less" down the road. Really bad idea.

 

[IMvrach]

I was talking about the risks to the lender, not to the borrower. Precisely for the reasons you described, the lender will deem highly unlikely that a physician will declare bankruptcy right before starting to practice.

As the salary increases with each post-graduate year, one probably would not need to borrow any more during fellowship. Besides, as a fellow, one usually is allowed to moonlight.

For me as an IMG, I cannot get a license during residency so I cannot moonlight, even though my program allows it, I cannot work to supplement residency salary and my spouse cannot work due to visa restriction. So borrowing, if the kids are hungry, is the only legal 🙂 option I entertain.

First, let's not underestimate the impact of bankruptcy. Many will never take you on as a "partner" with this kind of financial history. So it limits your career on some paths. Second, you act like borrowing money from private lenders isn't costly. You will be paying interest at very high levels -- as high as banks are allowed to charge without it constituting usury-- pretty much at the same rates as you would if you just took cash advances out on multiple credit cards. It won't be just $60k of debt if you are talking 20k a year of principle -- by the end of fellowship it will be hundreds of k. It will quickly outpace any notion of your "work hours being worth less" down the road. Really bad idea.

 

[Winged Scapula]

For me as an IMG, I cannot get a license during residency so I cannot moonlight, even though my program allows it, I cannot work to supplement residency salary and my spouse cannot work due to visa restriction. So borrowing, if the kids are hungry, is the only legal 🙂 option I entertain.

Let's not be so dramatic. As a resident you will be making in excess of what the average American family of four makes.

We physicians are often a self entitled lot and forget that most people make do on much less money. The answer is not to take out loans at usurious rates but rather live more simply, more cheaply, and with less luxury then perhaps you are used to.

 

[IMvrach]

You are right, "hungry" sounded too dramatic.

I know all income statistics. Our family is VERY frugal, can't be any more than that. We plan to limit borrowing to the bare minimum. Thanks for the advice. But it's hard to see how a family of four can live in NYC on 55k pre-tax: just day care plus 2 bedroom's rent will eat everything.

Let's not be so dramatic. As a resident you will be making in excess of what the average American family of four makes.

We physicians are often a self entitled lot and forget that most people make do on much less money. The answer is not to take out loans at usurious rates but rather live more simply, more cheaply, and with less luxury then perhaps you are used to.

 

[samsoniter]

Well, technically as long as you have a state license you can do whatever you want...but good luck finding reasonable malpractice coverage, and being able to land ANY job without board eligibility or certification. Thankfully, there are safeguards to ensure not just anyone with an M.D. can gallivant around masquerading as a specialist in any ol' field...

 

[shopsteward]

You are right, "hungry" sounded too dramatic.

I know all income statistics. Our family is VERY frugal, can't be any more than that. We plan to limit borrowing to the bare minimum. Thanks for the advice. But it's hard to see how a family of four can live in NYC on 55k pre-tax: just day care plus 2 bedroom's rent will eat everything.

You are starting an intern year in a new country with a wife and two children. Don't underestimate the stress of that - it would be best for you both to avoid any additional commitments until you have settled into a routine.

As your wife cannot work for visa reasons, you need to consider carefully whether day care is the right financial option. I don't know how it is where you are coming from, but in the US, the stay at home mothers who use day care usually have significant financial resources and/or a high earning partner. If your wife wishes to study, she should put it off for at least your intern year, if she can. If she is disabled and can't look after the children, she might be better off staying somewhere where there is more family help than just you available, given that you will be working (and in NYC probably also commuting) long hours.

Have you asked your residency about housing options?

 

[TexasPhysician]

For me as an IMG, I cannot get a license during residency so I cannot moonlight, even though my program allows it, I cannot work to supplement residency salary and my spouse cannot work due to visa restriction. So borrowing, if the kids are hungry, is the only legal 🙂 option I entertain.

Incorrect. Just because you can not get a license to moonlight in your state, doesn't mean you can't get one in every state. Some states only require 1 PGY year for FMG's to get a license. I know many residents that fly out of town to moonlight on weekends/vacations.

 

[IMvrach]

Wisconsin is the only state that allows IMGs to moonlight after PGY1, though they require some oral examination for IMGs to be licensed. But I am not sure the logistics of finding a position in Wisconsin, having them to sponsor H1B and flying from New York and back for weekend shifts is realistic.

I would place more hopes on the Immigration Law currently discussed. They've agreed to allow those on the new "low-skill worker" W-visa to apply for a Green Card after a year in the US, so it might make sense to hope they will make similar changes to the H1-B program and/or allow spouse's employment.

Incorrect. Just because you can not get a license to moonlight in your state, doesn't mean you can't get one in every state. Some states only require 1 PGY year for FMG's to get a license. I know many residents that fly out of town to moonlight on weekends/vacations.

 

[VA Hopeful Dr]

Wisconsin is the only state that allows IMGs to moonlight after PGY1, though they require some oral examination for IMGs to be licensed. But I am not sure the logistics of finding a position in Wisconsin, having them to sponsor H1B and flying from New York and back for weekend shifts is realistic.

I would place more hopes on the Immigration Law currently discussed. They've agreed to allow those on the new "low-skill worker" W-visa to apply for a Green Card after a year in the US, so it might make sense to hope they will make similar changes to the H1-B program and/or allow spouse's employment.

Incorrect, Georgia allows FMGs/IMGs without any more burden then US MD/DOs.

 

[IMvrach]

It says 3 years for an IMG vs 1 for an AMG.
http://physicianlicensing.com/georgia/

Incorrect, Georgia allows FMGs/IMGs without any more burden then US MD/DOs.

 

[chopes31]

In regards to surveys you mentioned in the original post, I recommend a company called Reckner. You will not be contacted all that frequently (couple times a year at best), but they'll pay you $200-300 for an hour of your time. It can be interesting too, as it usually involves a discussion of a new drug, device, etc.

 

[gutonc]

It says 3 years for an IMG vs 1 for an AMG.
http://physicianlicensing.com/georgia/

A better place to look is here, which shows that some IMGs can get a license after 1 year. Not sure what's on the "approved list" though.

 

[VA Hopeful Dr]

It says 3 years for an IMG vs 1 for an AMG.
http://physicianlicensing.com/georgia/

Why not check what the Georgia Board has to say, as opposed to a third party website.

http://medicalboard.georgia.gov/new-img-policy

 

[VA Hopeful Dr]

A better place to look is here, which shows that some IMGs can get a license after 1 year. Not sure what's on the "approved list" though.

The approved list is, apparently, the same one California uses. The link I provided above gives a link to the CA website that tells us which schools count.

 

[IMvrach]

It is a welcome change. The "approved" list is really comprehensive: I thought it would equal LCME. Now I'm holding my breath for New York to follow the path

The approved list is, apparently, the same one California uses. The link I provided above gives a link to the CA website that tells us which schools count.

 

[JLeBling]

What's the reasoning behind restricting residents moonlighting activities?

Most of you have ridiculously over-inflated student loans accruing interest as we speak. The faster you can pay off the debt, the less interest you will have to pay. Some of you even have families to support. If you told me that interest payments are put on hold until you complete residency, then maybe it's not so bad. But as long as moonlighting doesn't interfere with your training, and there are no conflicts of interest, than what exactly is the problem?

You know what it seems like to me?
slavery [ˈsleɪvərɪ]
n
1. (Law) the state or condition of being a slave; a civil relationship whereby one person has absolute power over another and controls his life, liberty, and fortune
2. the subjection of a person to another person, esp in being forced into work
3. the condition of being subject to some influence or habit
4. (Business / Industrial Relations & HR Terms) work done in harsh conditions for low pay

Am I the only one who sees it that way?

 

[Anon212]

What's the reasoning behind restricting residents moonlighting activities?

Most of you have ridiculously over-inflated student loans accruing interest as we speak. The faster you can pay off the debt, the less interest you will have to pay. Some of you even have families to support. If you told me that interest payments are put on hold until you complete residency, then maybe it's not so bad. But as long as moonlighting doesn't interfere with your training, and there are no conflicts of interest, than what exactly is the problem?

You know what it seems like to me?
slavery [ˈsleɪvərɪ]
n
1. (Law) the state or condition of being a slave; a civil relationship whereby one person has absolute power over another and controls his life, liberty, and fortune
2. the subjection of a person to another person, esp in being forced into work
3. the condition of being subject to some influence or habit
4. (Business / Industrial Relations & HR Terms) work done in harsh conditions for low pay

Am I the only one who sees it that way?

Someone correct me if I'm wrong, but my understanding is that this has to do with work hour restrictions and malpractice coverage. Re: the former, depending on how much you're working at your primary job, you may have very limited time left before you hit max hours per ACGME rules. In theory those hours are for wellness, sleep, and learning. If you're spending them working, your program can make the argument that it'll leave you more tired (and less well-read) for your day job. Priority number 1 should always be patient care, and that's theoretically why the work hour restrictions are there in the first place (yes, I've seen the date, I realize they don't work the way they're supposed to, but that's their purported raison d'etre anyway).
Re: malpractice, again correct me if I'm wrong, but this seems to be hospital-dependent. Not all hospitals are willing to cover you to work elsewhere, and I don't think you're guaranteed to be covered even if your hospital generally allows it (it may depend on your performance and such). I know at my hospital there's internal moonlighting allowed after PGY2 year, where you can pick up acute care shifts and occupational health shifts and such if you can document that you're not going over your work hour limits. That way you're still covered but can make some extra cash. Pretty sure fellows who are board certified can do that most places, too, by picking up hospitalist shifts or whatever.

 

[rokshana]

It says 3 years for an IMG vs 1 for an AMG.
http://physicianlicensing.com/georgia/

if the school is on the cali approved list, its only one year for an unrestricted license...changed in 2009 i think.

 

[SouthernSurgeon]

You know what it seems like to me?
slavery [ˈsleɪvərɪ]
n
1. (Law) the state or condition of being a slave; a civil relationship whereby one person has absolute power over another and controls his life, liberty, and fortune
2. the subjection of a person to another person, esp in being forced into work
3. the condition of being subject to some influence or habit
4. (Business / Industrial Relations & HR Terms) work done in harsh conditions for low pay

Am I the only one who sees it that way?

I know that this was a total necrobump by a spammer...

But we need a new version of Burnett's law for when someone in all seriousness compares residency to slavery.

 

[dozitgetchahi]

Just figured I'd update this.

I signed up for a variety of these sites a month ago using the subversive advice above of stating that I was an oncologist.

I've already made approximately $600, and more surveys keep coming almost daily. I'm not even doing the ones that don't give you at least a dollar per minute's work.

As another poster said, you just have to be comfortable being an 'oncologist' 😉

 

[thesauce]

If you want to make money through lying and fraud, there are many more lucrative means

 

[anbuitachi]

what are those lucrative ways??

 

[evilbooyaa]

what are those lucrative ways??

Sell drugs.

Or maybe sell prescriptions for narcotics. Depending on the state that'll work just fine.

 

[brainmedicine]

Is professional jobs as writing question, translation or non clinical jobs considered moonlighting?

 

[shan564]

Is professional jobs as writing question, translation or non clinical jobs considered moonlighting?

"Moonlighting" isn't a formal term with a strict definition, although each individual program might have specific definitions for it. For the purpose of ACGME rules, those jobs don't count toward your work hours - only clinical jobs count. I've been doing non-clinical work (writing practice questions for med student exams) on the side since I started residency - my program director knows about it, and it's not considered to be "moonlighting" at my program.

 

[Crayola227]

I would be sure any work you do you make sure is allowed by the medical licensing board of your state, ACGME rules, the hospital, the malpractice insurer, and your PD, all of which are SEPARATE entities and any of them can take issue with anything you do for any reason

 

[psych md jd]

Daytrading stocks.

Worked for me as a resident to the tune of 100k/yr on top of my salary. Loved my AOL, AMZN. Still loving AAPL.

Bought shares before work, sold at lunch.

No PD approval required.

 

[Crayola227]

What's the reasoning behind restricting residents moonlighting activities?

Most of you have ridiculously over-inflated student loans accruing interest as we speak. The faster you can pay off the debt, the less interest you will have to pay. Some of you even have families to support. If you told me that interest payments are put on hold until you complete residency, then maybe it's not so bad. But as long as moonlighting doesn't interfere with your training, and there are no conflicts of interest, than what exactly is the problem?

You know what it seems like to me?
slavery [ˈsleɪvərɪ]
n
1. (Law) the state or condition of being a slave; a civil relationship whereby one person has absolute power over another and controls his life, liberty, and fortune
2. the subjection of a person to another person, esp in being forced into work
3. the condition of being subject to some influence or habit
4. (Business / Industrial Relations & HR Terms) work done in harsh conditions for low pay

Am I the only one who sees it that way?

I know that this was a total necrobump by a spammer...

But we need a new version of Burnett's law for when someone in all seriousness compares residency to slavery.

All you have to do is see what happens to unmatched medical students & terminated residents to see how much #1 applies
It's true that slavery might not seem like slavery until the whip comes out

 

[Crayola227]

@psych md jd

dude I been seeing a lot of great posts from you lately
or I should say you have a post count of 120, so really it must be that your posts leave an impression

love the disclaimer in your sig too... I would snatch it but that would be plagiarism and I don't know if there are legal repercussions for stealing your disclaimer

some ppl say why go md/jd but the more I read from you and @Law2Doc the more I think it is under appreciated

back to OP, I know residents who sold plasma for food money

 

[ThoracicGuy]

Daytrading stocks.

Worked for me as a resident to the tune of 100k/yr on top of my salary. Loved my AOL, AMZN. Still loving AAPL.

Bought shares before work, sold at lunch.

No PD approval required.

While you were lucky, this is not a good way for most people to make money.

 

[QofQuimica]

While you were lucky, this is not a good way for most people to make money.

This.

Working 80 hour weeks is not going to be compatible with researching companies and sitting on the internet trying to time the market. Not to mention that your 80 hour resident work week doesn't typically include the additional time that you need to spend reading and studying to learn the basic knowledge necessary for practice in your specialty.

Again, I don't think that residents, especially new interns, should expect to do ANY kind of work outside of their residency job functions, at least until they get a few months under their belt and see what their job entails. Residents, don't lose sight of the forest for the trees: your income in residency is going to be a drop in the bucket compared to what you'll earn over the next few decades as an attending. But you have to get through residency first, and becoming competent in your field should be your first priority as a resident, not earning a few extra dollars.