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Episode from the podcastThe Career Rx Podcast for Doctors

#72 - Should You Take A Pay Cut for a Nonclinical Job?

Released Tuesday, 3rd August 2021
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Is financial fear preventing you from making a career change? Do you wonder if you have to take a pay cut to leave clinical medicine? How much do nonclinical jobs pay, anyway?
If you feel trapped by student loan debt or the perception that you won’t be able to make a good living as a nonclinical physician, but you desire to pivot into more fulfilling work - this episode is for you.
In this episode of The Career Rx we’ll discuss:
  • Myths and fears about pay cuts and nonclinical opportunities
  • Why getting an offer before you decide can change your perspective
  • Entry level nonclinical careers, and their trajectories
Today’s episode was inspired by this question from a listener:  “Is it worth it to take a big pay cut for a position in industry, just to ‘get in’...and then do some time and move on up?” 
Let’s have some real talk about whether it is ‘worth it’ to take a pay cut to make the kind of career shift or change that you hope to make - and, whether you have to take a pay cut at all!
By the end of this episode, you’ll have a better understanding of nonclinical salaries, whether the fears around pay cuts are mostly myths, and the tradeoffs you may find in nonclinical career. 
In this Episode: 
[1:15] Have a question you’d like me to answer on a future episode? 
[4:00] Salary numbers don’t reflect your true compensation in a nonclinical job
[5:47] A hematologist, a rheumatologist, and an anesthesiologist walk into a room
[9:00] The ladder of opportunities for promotion in industry
[11:30] What about all that student loan debt?
[13:50] Breaking down some self limiting beliefs
Links and Resources: 
TransforMD - a life changing retreat for women physicians who want more from their careers and their lives - it’s time, right now!