contact

Bob Priddy

rfp@thirdevo.com

.

720-339-3585

Robert F. Priddy, President 

Next to the question, “What else could I possible do with a medical degree,” comes the question, “Where else could I make what I’m making now.” That’s a good question and whether you’ll like the answer depends on your current income and your expectations.

If your income is less than $250,000 annually, you’ll find non-clinical opportunities to meet your needs. Above $250k, opportunities become progressively more difficult to find, but they certainly do exist. Critical to evaluating non-clinical opportunities is to look at the total package.  

For example, say you’re a mid-$300k surgical specialist and you receive an offer as medical director with a base salary of $225,000. Initially that may sound attractive, but not enough to lure you from practice. 

However, consider most business positions offer an incentive bonus tied to your activities or those of the business unit with which you’re working. Bonuses typically range between 20 and 40 percent. That equates to an additional $45,000 to $90,000. In addition, a signing bonus of 10 to 15 percent isn’t unreasonable for year one – another $22,500 to $33,750. Furthermore, you should expect fully paid company benefits, stock plans, 401(k) matching and your time off is paid. Further, if you relocate the company may agree to purchase your home for you and might offer a cost of living adjustment depending on the difference between your present location and your new one.  

All this can take some of the sparkle off those handcuffs. This isn’t to say you’re going to leap into the non-clinical world and have every request and every expectation met. However, you shouldn’t simply rule out non-clinical opportunities because you think some organization won’t or can’t match your present income. One of the few rules I ask every client to live by is, “Never turn down anything but an offer.” What I mean is don’t say no because you assume your needs can’t be met. Only turn down actual, concrete, offers that fail to meet your needs.  

Sometimes it’s more than money that has you feeling locked in, but as one client recently commented to me, “I genuinely believe that without call, the constant threat of malpractice, and the frustrating vagaries of where clinical practice is and where it’s likely heading, this job (new non-clinical appointment) will probably add 10 years to my life.” That’s a good reason to shed those handcuffs.

Privacy Policy

Send mail to rfpriddy@msn.com with questions or comments about this web site.

Copyright © 2008 third_Evolution, LLC

third_Evolution is the registered trademark of third_Evolution Non-Clinical Careers for Physicians and is owned by RFP Physician Career Services, LLC.

Last modified: 02/27/12