How likely is it to make $375-400k in Psych?

[Psychapplicant133]

When reading graduating psych residents' job offers it seems an alarming number of recent offers are under $300k/year. I'm an MS3 planning on going into psych for several reasons, but I feel like if I'm making under 300k/year then I have failed to make the figures I want.

I truly want a minimum of $375k a year, that's really my target minimum. 400k would be more ideal, frankly, but it seems that this figure is only attainable in private practice, locums, or being in admin at an academic center for a really long time.

Is it unrealistic for me to think I can make $400k/year in psych within my first 10 years of working in psych? I don't want to graduate residency and find a job thats paying $250k a year, unfortunately, and I love psych but this has got me worried for more or less the past year D:

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[dl2dp2]

I actually think it's quite difficult to clear 400k W2 with one job at 40 hours a week if you are not working private practice, locum. 300k jobs are more plentiful.

However, it's *very easy* to do private practice and locum, and easy to clear 400k in both scenarios.

W.r.t. admin, surprisingly it's not that easy to clear 400k doing admin, except at a handful of "fancy" places, and those jobs are competitive.

Hope this is helpful. The bottom line is if you want to do well financially in this field, being employed in one job is hard. All my friends who are W2 employees complain hard.

But the same is true for most specialties. Frankly it's difficult to clear 400k in an employed mega group even if you are a cardiologist or dermatologist, or even a surgeon, and it's far harder to start a practice and do locum in those specialties.

 

[Merovinge]

Psych employed jobs that will clear $400k are either going to be meat grinder/high patient census positions (very easy to get these) or in undesirable locations (I personally know someone who took a middle-of-nowhere Kentucky job for $400k with a very reasonable caseload).

Psych can pay very well per hour in private practice as mentioned in many places.

I would push back on dl2dp2 above and note that If you really want to be employed and paid well, it's very clear that positions like derm, NSGY, ortho, vascular, uro, ENT, gas, rads, GI, interventional cards are all going to be a much better option. MGMA median salaries will give you an idea of what employed salaries are like. Many are absolutely north of 400k, although the lifestyle of those positions is often significantly worse.

 

[finalpsychyear]

get ready to work for it and plan on multiple jobs, wknd rounding, moonlighting calls etc but sure its doable with those routes but you'll be working at or above FT hours esp because your looking for a route outside PP/locums.

 

[FlowRate]

I echo the above--if you're looking to walk into a publicly posted, 40-hour, W2 employee position and make 375+ then there will be other (significant) caveats to the position.

All physicians convert their time to money, unless they have ownership stake in a larger enterprise and siphon profit off of employees (scale -> income.)

It would be relatively trivial, logistically, for a psychiatrist to convert their time into 400k per year in private practice. Billing Medicare (in my metro), you'd need to see about 35 hours of patients per week. Seems like many PP docs prefer to work less than that, though. I estimate that you'd be earning about $450k if you were willing to work 40 patient-care (billable) hours per week (which is not the same as 40 hours of work per week.) That's with the assumption that you don't have out of control expenses/high no-show rate/etc.

 

[Psychapplicant133]

I'm totally open to working more than 40 hours a week actually. Do you think working locums and private practice on the side is a decent way to make like 600+? Without non-competes, it's likely much easier to do over 1 job now, though I recognize that would be like 60 hours a week but I could do it temporarily maybe until after loans are paid off then transition to full-time to private practice

 

[finalpsychyear]

I'm totally open to working more than 40 hours a week actually. Do you think working locums and private practice on the side is a decent way to make like 600+? Without non-competes, it's likely much easier to do over 1 job now, though I recognize that would be like 60 hours a week but I could do it temporarily maybe until after loans are paid off then transition to full-time to private practice

If that is your goal look for an inpt role that has the ability to start early and end by 1-2pm and then scoot to your next afternoon gig be that locums, outpt or telehealth. Again all those numbers are possible but you are going to work hard for them like wknd, nights and calls. You should be able to get 300 ish for the inpt and then another 150-200 for the side gig if your willing to do wknds, nights, and calls maybe even more but thats how you can get there and you can even add jails if your ok with the safety issue which varies and no cell phone for the entire shift.

EIther way the setup above is probably for 1-2 years and then if you want lifestyle and quality your probably going to need a 40 ish hour gig after that. If i were you i'd go into rads, gas, or heme onc which you can easily hit the numbers you want with 1 w2 gig or into the 7 figs if you work like a dog like you would in psych to hit your 400-500k goals.

for what its worth my sibling is about to graduate gas residency and I had told them to avoid psych cause they wanted $$ for time spent. Pretty much everyone in her class is STARTING at 500-700k year 1 the higher end for cardiac fellows.

 

[Bartelby]

Locums + Private practice would be tough because locums might require travel or odd hours.

In my high cost of living area for full-time W-2:
$250k - low end of academic salaries, starting.
High 200s - VA
$300-350k - typical non-academic or semi-academic roles (county, Kaiser, large healthcare systems)
Over 400k - very rare to see this advertised, and when it is the position sounds like a major grind.

For straight clinical work I most often hear about people clearing the $400,000 hurdle by combining positions, or through Private practice. Many people choose to pair an inpatient position with afternoon outpatient practice. The bottom line, though, is that for over $400,000 you will need to work quite hard or be a bit creative.

If you do want a standard employed job over $400,000, I agree that some other higher paid specialties are a simpler route there.

 

[claypigeon]

Depends on your setup. I’m w2 and rvu based and get there with 34 hours of patient contact a week. But it took two years to fully build up my patient panel and it’s rare there’s a no show.

 

[TexasPhysician]

If you want an average W2 psych job for 40 hours, expect $275k.

If you want $350k+, you need to work more hours, work locum, piece jobs together, become program chair, or be more efficient in an incentives based position.

 

[Stagg737]

Is it unrealistic for me to think I can make $400k/year in psych within my first 10 years of working in psych?

Bottom line: No, it is not unrealistic. Yes, you will almost certainly work much more than the average psychiatrist to do this and have to sacrifice work/life balance (which is one of the biggest appeals of psych imo) to do this.

 

[BiscoDisco]

Very likely. I have several long term 1099 jobs. They all pay 250/hour or more. Some of these jobs I can do at the same time (cover inpatient unit for 8 hours and take outpatients in the afternoon) so I can double up. I should make 600k a year working 45 hours a week.

 

[clozareal]

I'm in a large metro area. I have colleagues who make $400k+ in inpatient, residential, outpatient group practice, outpatient individual practice, and purely emergency settings. If you work VA, you'll have to have a private practice on the side. If you work academics, you'll probably make less but some academic places allow you to have a private practice on the side as well as options for working weekend/nights where you can supplement your income. If you want to have a niche that can make it easier to make more, you can also do a fellowship in CAP, forensics, or addiction.

I think it depends on your location and what the saturation rate of psychiatrists is there. $300k is easy, $400k you'll need to work at but doable. The highest offer I received from my job interviews was $350k base salary, although some had the option to make more based on productivity. I cleared $500k in my first full year of only doing outpatient private practice seeing mostly CAP patients.

 

[annoyedpsychiatrist]

I agree. In general seems relatively average/easy to find a 300k reasonable employed job. Prob most hospital based outpatient jobs offer around that. 400k would be if youre taking a medical director role or have multiple side hustles. It is unlikely to get 400k fresh out of residency unless you take a job with no quality of life or go to alaska where the demand is crazy high in comparison to supply. Ive gotten some interesting recruitor emails from there. Generally if places are offering high amounts there is usually some form of a catch such as acuity, high turnover, number of pts, locaiton, etc.

 

[sloh]

get ready to work for it and plan on multiple jobs, wknd rounding, moonlighting calls etc but sure its doable with those routes but you'll be working at or above FT hours esp because your looking for a route outside PP/locums.

You clear well over 500-600k right? And IIRC, a lot of the work is remote. What’s your setup again?

 

[brazilianpsych]

Around here rates are similar to what others said. Expect 250k and consider yourself lucky if you get 300 or above that. I have heard of a guy making 500k travelling out of state a few times a month for locums and having multiple jobs.

Honestly, if you have a competitive app I would do something more lucrative if you are after money. Rads, gas, or even a good IM fellowship. I know a private cards making 1m a year, which is extremely unlikely for psychiatry.

I'm still in residency, and although everyone here says it is easy to open a practice, no one around me has opened one. Will let you know in a few years.

 

[DOswag]

As many others have said, it is doable in psych if you want to make 4-600K but typically will have to work more hours for it. I'm currently working for a company that has clinics in multiple states and I work in Texas. COL not too bad here. I'm straight outpatient, 40 hr weeks working mon-thur 10 hr days, no nights, no call, no weekends. We get a base salary + RVU bonus quarterly. We have some psychiatrist with the RVU bonus making 5-600K but most are in the 3-400K range. I'm in my first year post military and on pace to be around 350-400K.

 

[FlowRate]

As many others have said, it is doable in psych if you want to make 4-600K but typically will have to work more hours for it. I'm currently working for a company that has clinics in multiple states and I work in Texas. COL not too bad here. I'm straight outpatient, 40 hr weeks working mon-thur 10 hr days, no nights, no call, no weekends. We get a base salary + RVU bonus quarterly. We have some psychiatrist with the RVU bonus making 5-600K but most are in the 3-400K range. I'm in my first year post military and on pace to be around 350-400K.

How many patient-facing hours + patients/hour (for follow-ups)?

 

[splik]

Per Medscape, median compensation for psychiatrist is about 323k. This sounds about right to me.
While psychiatist compensation has crept up quite a lot in recent years it is still a lower paying specialty overall, albeit no longer a lowest paying one.
What that means is the typical psychiatrist is not going to be earning 400k. That is in the 90th percentile for psychiatrist compensation. You should bear that in mind.

Things that influence how much compensation you make:
- where you train
- your specialty/subspecialties
- where you work
- how many hours you work
- how flexible you are
- how willing and good you are at negotiating
- how business savvy you are
- how ambitious you are
- you good you are at marketing and building your brand (this does not just apply to private practice, it is also applicable in academics, industry, for administrative positions etc)
- whether you diversify your income streams


When I was in academics I was making about 400k a year which was in the 99th percentile for junior faculty in psychiatry. Last yr in pp, I made somewhat over 300k doing about 15hrs per week. I know people making over a million/yr. Being highly compensated in psychiatry is very possible. However, it is NOT the norm.

 

[DOswag]

How many patient-facing hours + patients/hour (for follow-ups)?

I'm pretty much booked solid through most days so about 40 hours depending on no shows. I don't really get admin time but the EMR isn't too bad and it's pretty easy to knock out notes while I'm chatting with patients and still give them face time without staring at the computer the whole time. 1 hr for intakes, 20 min for follow ups. Most days factoring in no-shows I see 15-20ish. Sometimes I'll have days that are almost completely follow ups and that can get pretty busy, others I have a few more intakes so evens out. Pretty chill job, we do TMS, IV ketamine, med management in our clinic. Staff is great, the answer phone calls and then I'll get messages sent to me in our system that I can respond to or send in meds if I need to, we have a team that does PA's, completes paperwork for things that I review and sign so a lot of the extra stuff is taken care of as well.

 

[DOswag]

8-7 m-f but negotiated few hours of admin pd time but it wasn't always all paid had to earn it over the years.
have a few directorships and collaborations all paid and my side practice. Took time and negotiations to get some of those.
its not easy and M-F is busy but half from home. Weekends sometimes still pending work related to practice paperwork etc.

Its not a job setup for most millenials and for sure not gen z or alpha but I'm only doing it to get to the end of the rainbow maybe by end of the decade.

I always get confused of what generation I'm considered (born in the mid 80's) but that sounds like a lot of work . Good for you though on that income!

 

[DOswag]

Just looked it up and I think I'm a millenial

 

[FlowRate]

I'm pretty much booked solid through most days so about 40 hours depending on no shows. I don't really get admin time but the EMR isn't too bad and it's pretty easy to knock out notes while I'm chatting with patients and still give them face time without staring at the computer the whole time. 1 hr for intakes, 20 min for follow ups. Most days factoring in no-shows I see 15-20ish. Sometimes I'll have days that are almost completely follow ups and that can get pretty busy, others I have a few more intakes so evens out. Pretty chill job, we do TMS, IV ketamine, med management in our clinic. Staff is great, the answer phone calls and then I'll get messages sent to me in our system that I can respond to or send in meds if I need to, we have a team that does PA's, completes paperwork for things that I review and sign so a lot of the extra stuff is taken care of as well.

FYI, assuming you're:
1. Billing Medicare in my region (I'm using conversion factors for my metro)
2. Billing 99214 for all follow-ups (and no 90833 since IMO hard to justify that in a 20 minute slot) and 99205 for intakes.
3. Work 1800 hours per year (46*4*10 - 40 [various hours for self/kids/sick etc])
4. Have a collection/show rate of 0.9
5. Each clinical hour is 20% intakes and 80% follow-ups

You should be successfully collecting $566,659 annually.

If you're billing insurers that pay more than Medicare, doing psychotherapy add-ons, have a lower no-show/no-collect rate, take less than 6 weeks of vacation and/or less than 40 hours of sick/other PTO, and/or see more follow-ups and fewer intakes, then you should be billing even more than that. Call it $100k overhead for super fancy offices, top-end support staff, etc. and you would still be at $466k. So whoever owns the practice is at least making $66k off of you.

Where my math is potentially off is that you're seeing 15-20ish patients per day with 30 potential follow-up slots so your intake and no-show rates might be even higher.

 

[FlowRate]

Since I had already done this work (for myself a little while ago) and it came up again, I fixed it up so anyone can use it. Just make a copy and edit values as applicable to your situation. The dropdowns work for getting the GPCI for your locality and for the billing codes.

Link to Sheet
Preview

 

[clausewitz2]

Since I had already done this work (for myself a little while ago) and it came up again, I fixed it up so anyone can use it. Just make a copy and edit values as applicable to your situation. The dropdowns work for getting the GPCI for your locality and for the billing codes.

Link to Sheet
Preview

I know it was just a matter of alphabetical order but I would prefer to believe you picked Alabama for the preview specifically in response to You Know Who.

 

[comp1]

I guess it is doable, but my question for the OP is why? You don't get a prize for dying with the most money at the end. Most people get a lot of purpose and meaning from clinical work. There isn't a lot of great evidence that the FIRE people are actually happier, more the opposite.

 

[DOswag]

Since I had already done this work (for myself a little while ago) and it came up again, I fixed it up so anyone can use it. Just make a copy and edit values as applicable to your situation. The dropdowns work for getting the GPCI for your locality and for the billing codes.

Link to Sheet
Preview

Wow thanks!

 

[finalpsychyear]

I guess it is doable, but my question for the OP is why? You don't get a prize for dying with the most money at the end. Most people get a lot of purpose and meaning from clinical work. There isn't a lot of great evidence that the FIRE people are actually happier, more the opposite.

work definitely has a place for most everyone to stay optimal mentally and physically. That being said I would be perfectly fine with 1-2 half days in the future and off the rest. Not really possible till you hit FIRE numbers but I would have no issue filling up the rest of my week.

 

[Candidate2017]

Income is maximized, in pure medicine, by doing highly reimbursed procedures or volume, preferably both. In psychiatry, we don't have the former and the latter makes life difficult because increased volume leads to increased unpaid work due to 3rd parties jumping into our kitchen: SWs, family, incompetent staff, judges, politicians (mental health laws), and patients themselves. Rarely will these people intrude upon a GI doc's colonoscopy suite, a radiologist's reading room, an ortho's OR, etc. These docs are free to do their work with minimal input from the peanut gallery, and when docs are allowed to do their work, they tend to generate a lot of money. And when you generate a lot of money, you get access to highly skilled assistants who can further increase your efficiency, which leads to... more money.

Yes, you can make 400k+ in psych as described by others above (multiple jobs, undesirable jobs, business, subspecialization/top expertise, etc.). But psychiatry on average is just the highest paid of the lowest paid specialties.

OP, what do you love more? Psychiatry or money? I'll say it's very hard to actually know if you love psychiatry until you are an actual attending, and I don't know anyone who hates money.

Frankly it's difficult to clear 400k in an employed mega group even if you are a cardiologist or dermatologist, or even a surgeon, and it's far harder to start a practice and do locum in those specialties.

What? These specialties, and others, can double or triple the avg psych income. Maybe you are referring to production based practices where new attendings make practically nothing but ramp up to the moon once they are full? These well paid specialties don't need to start a practice. They can jump into a group and practice medicine from Day 1. Their question is whether to make a lot of money as a W-9 or a whole lot of money by joining a group and becoming a partner.

For us, ease of starting a practice is more important because W-9 work as a psychiatrist is generally oppressive.

 

[TerraceHouse]

When reading graduating psych residents' job offers it seems an alarming number of recent offers are under $300k/year. I'm an MS3 planning on going into psych for several reasons, but I feel like if I'm making under 300k/year then I have failed to make the figures I want.

I truly want a minimum of $375k a year, that's really my target minimum. 400k would be more ideal, frankly, but it seems that this figure is only attainable in private practice, locums, or being in admin at an academic center for a really long time.

Is it unrealistic for me to think I can make $400k/year in psych within my first 10 years of working in psych? I don't want to graduate residency and find a job thats paying $250k a year, unfortunately, and I love psych but this has got me worried for more or less the past year D:

Any of the big "for profit" systems can get you the numbers you want but as others have mentioned with caveats such as high volume, etc. It may also require you to work multiple weekends per month and take call frequently. This is possible not via the base salary at face value but through the productivity bonus or RVU system they have.

 

[sloh]

I'll say it's very hard to actually know if you love psychiatry until you are an actual attending, and I don't know anyone who hates money.

Applies to many specialties haha. Hard to gauge what the real world practice of an attending is like until you're actually out. And for many, especially those with families, money soon becomes the #1 priority, with work-life balance being second to that. And many physicians are okay with a job that is tolerable as opposed to 10/10 enjoyable if it means they make a lot of money with good work-life balance.

What? These specialties, and others, can double or triple the avg psych income. Maybe you are referring to production based practices where new attendings make practically nothing but ramp up to the moon once they are full? These well paid specialties don't need to start a practice. They can jump into a group and practice medicine from Day 1. Their question is whether to make a lot of money as a W-9 or a whole lot of money by joining a group and becoming a partner.

For us, ease of starting a practice is more important because W-9 work as a psychiatrist is generally oppressive.

Yup, just searched Cards and Derm for Kaiser in California.

 

[Psychapplicant133]

Yes, you can make 400k+ in psych as described by others above (multiple jobs, undesirable jobs, business, subspecialization/top expertise, etc.). But psychiatry on average is just the highest paid of the lowest paid specialties.

OP, what do you love more? Psychiatry or money? I'll say it's very hard to actually know if you love psychiatry until you are an actual attending, and I don't know anyone who hates money.

My goal right now is locums in prison and then maybe another side gig for 1-2 days a week.

When it comes to money or psych, to be honest I wouldn't say I love psych more than money but I do love medicine in general more than money. The thing is I dont think I can really do anything besides psych because I don't have any interest in procedures or treating the critically ill really, and I love outpatient/pharm. I also genuinely enjoy the mental aspect of psychiatry.

I agree that this decision is made much more challenging because I won't even know if I like the specialty I choose until I'm an attending. I just don't want to pick a higher-paying specialty like anesthesia/optho after absolutely hating the limited time I had with them.

 

[Psychapplicant133]

A follow-up question for everyone: how much do you think child/adolescent raises the overall income? I'd guess around 25-50k per year?

Also, do you all feel fairly compensated? It was mentioned that I shouldn't just blindly choose a number to make, and also $300k/year is still a ton of money and at times it feels weird to want more. But at the same time, literally today a family medicine/hospitalist told me that I should be very careful what specialty I choose because primary care/psych physicians are underpaid.

 

[comp1]

I think child might raise it $20k. Of course if you're doing this crazy 2/5 of a mil thing, that'd be higher. I'm at the VA and I love coming into my low stress and low workload job. I've got as much time as I want with patients. I feel extremely supported by everybody even after almost 10 years here. So yep, I'm fairly compensated even with the VA salaries above reported being accurate. Family medicine and psych are extremely different things.

 

[finalpsychyear]

A follow-up question for everyone: how much do you think child/adolescent raises the overall income? I'd guess around 25-50k per year?

Also, do you all feel fairly compensated? It was mentioned that I shouldn't just blindly choose a number to make, and also $300k/year is still a ton of money and at times it feels weird to want more. But at the same time, literally today a family medicine/hospitalist told me that I should be very careful what specialty I choose because primary care/psych physicians are underpaid.

250-300k is a lot of money NOW but had much better BUYING power several years ago. A bunch of my classmates 8-10 yrs ago got to those numbers in the first few years bought houses and locked in low rates. 250-300 in 2030 around the time you'll finish including fellowship i would say is going to be much harder to have a house and things in general thanks to mr. inflation and the money printing system and mid levels in psych is apparently the new place to be for NPs.

Do psych if your happy earning what's most likely to be the salary range not what you theoretically could juggle. If not look elsewhere cause your going to be dissapointed as a lot can change in 6-7 years but the money is most likely to still be in procedure heavy fields which are also always only getting cuts most years.

 

[Psychapplicant133]

250-300k is a lot of money NOW but had much better BUYING power several years ago. A bunch of my classmates 8-10 yrs ago got to those numbers in the first few years bought houses and locked in low rates. 250-300 in 2030 around the time you'll finish including fellowship i would say is going to be much harder to have a house and things in general thanks to mr. inflation and the money printing system and mid levels in psych is apparently the new place to be for NPs.

Do psych if your happy earning what's most likely to be the salary range not what you theoretically could juggle. If not look elsewhere cause your going to be dissapointed as a lot can change in 6-7 years but the money is most likely to still be in procedure heavy fields which are also always only getting cuts most years.

Actually asking, does this mean you think that psych salary ranges wouldn't continue to rise with inflation? Unless I'm mistaking it looks like most averages show psych salary ranges increasing in last decade or so

 

[finalpsychyear]

Actually asking, does this mean you think that psych salary ranges wouldn't continue to rise with inflation? Unless I'm mistaking it looks like most averages show psych salary ranges increasing in last decade or so

maybe some have slight inflation adjustments but medicine as a whole does not keep inflation adjusted salaries or cpt codes.

medicare 99214 in 2014 in my area roughly $105, medicare 99214 in 2024 $121. Most of my private insurers have even smaller bumps in payment.

Based on inflation calculators a 105 payment if it kept up with inflation would be 138 in 2024. So yes you'll have a bit of a bump but no way keeping up with inflation.

 

[tennisall]

In our department (academic in California), attendings average 400-450k for a pretty average workload. Not typical, but proves its possible…

 

[solitarius]

Everything is out of whack in California. There's another poster citing $250 hourly rate which may be the norm in California, but not other places.

 

[finalpsychyear]

Everything is out of whack in California. There's another poster citing $250 hourly rate which may be the norm in California, but not other places.

I mean even with those rates the housing for most is a rough go out there

 

[calvnandhobbs68]

For us, ease of starting a practice is more important because W-9 work as a psychiatrist is generally oppressive.

You keep saying W9. You mean W2.

Otherwise, I agree with the rest of your sentiment there.

 

[esob]

In Rural Texas, our academic base is $300K, and most do some call, which brings it into the $335K range. We also have a locum covering our facility plus a second remote gig and making about double that.

 

[Mad Jack]

My goal right now is locums in prison and then maybe another side gig for 1-2 days a week.

When it comes to money or psych, to be honest I wouldn't say I love psych more than money but I do love medicine in general more than money. The thing is I dont think I can really do anything besides psych because I don't have any interest in procedures or treating the critically ill really, and I love outpatient/pharm. I also genuinely enjoy the mental aspect of psychiatry.

I agree that this decision is made much more challenging because I won't even know if I like the specialty I choose until I'm an attending. I just don't want to pick a higher-paying specialty like anesthesia/optho after absolutely hating the limited time I had with them.

I know a locums spot in a prison that nets 258/hr and I've heard of higher. Psych is nice because you can earn a respectable salary with reasonable hours and output. Working my little academic job and one weekend a month I'm making around 330k with a very reasonable workload. If you're in it for the money, psych isn't the best field out there. But if you like the job, you can make decent money doing something you enjoy. Personally, I would be miserable in almost any other area of medicine.

 

[voxveritatisetlucis]

Very unlikely

 

[AD04]

Is it unrealistic for me to think I can make $400k/year in psych within my first 10 years of working in psych? I don't want to graduate residency and find a job thats paying $250k a year, unfortunately, and I love psych but this has got me worried for more or less the past year D:

Go into the field that you like and that you're good at. Generally, what you like is similar to what you're good at. If you like something enough, you'll spend the time to get good at it.

There is a wide range of possible income in all specialties, although to reach the higher level ranges, you have to do things differently than the average psychiatrist. An edge that few others have. If you have that edge, you can make your target income or more.

And if you do it right, after some time, the income from medicine won't matter very much. I made my first millie of this year by February. Most of it was not from medicine.

Good luck.

 

[voxveritatisetlucis]

Isn’t it like 90th percentile MGMA and that is total comp not even base

 

[finalpsychyear]

Go into the field that you like and that you're good at. Generally, what you like is similar to what you're good at. If you like something enough, you'll spend the time to get good at it.

There is a wide range of possible income in all specialties, although to reach the higher level ranges, you have to do things differently than the average psychiatrist. An edge that few others have. If you have that edge, you can make your target income or more.

And if you do it right, after some time, the income from medicine won't matter very much. I made my first millie of this year by February. Most of it was not from medicine.

Good luck.

How many years out r u again?
Impressive whatever ur invested in had that kind of return 1mo into 2024.

 

[littlefred]

Go into the field that you like and that you're good at. Generally, what you like is similar to what you're good at. If you like something enough, you'll spend the time to get good at it.

There is a wide range of possible income in all specialties, although to reach the higher level ranges, you have to do things differently than the average psychiatrist. An edge that few others have. If you have that edge, you can make your target income or more.

And if you do it right, after some time, the income from medicine won't matter very much. I made my first millie of this year by February. Most of it was not from medicine.

Good luck.

Real estate?

 

[thelastpsych]

Real estate?

Unless you have a big enough amount invested (tens of millions), even real estate will not give you that return in such a short time period. Either he has an enormous amount of money already, or is taking more risk than is realized (options trading, leverage,...). There is no free lunch, contrary to what equity investors in these speculative times would like to believe.

 

[voxveritatisetlucis]

Investing in real estate if you can’t pay fully in cash is pointless right now. Rates are never going back to 3% either