$400,000 sign-on bonus for joining Navy

[Ender]

I just recieved and email from the Navy that offered a huge sign-on bonus of up to $400,000. I have had some trouble finding out about the time commitment when accepting this bonus. Does anyone know the details? Here is the entire email:

IMAGINE A PRACTICE -- WHERE NOTHING CAN COME BETWEEN YOU AND
YOUR PATIENT.

Get a sign-on bonus of up to $400,000.(1) Plus money to repay your
medical school loans.

GET TO KNOW DR. JAMES CHUN and the world of Navy Health Care.
Click on the link below and play now.
http://www.navy.com/landing/video/physicians/?campaign=200904MED1092418

CAPTAIN. INSTRUCTOR. AND PRACTITIONER OF PURE MEDICINE.

Ask Dr. Chun, "Why medicine?" and he'll say it's to make a real
difference in the lives of others. Ask, "Why Navy?" and he'll
tell you that in the Navy, nothing gets in the way of delivering
that care.

As a Navy Physician, Dr. Chun has the freedom and resources to
commit his entire effort to the art of healing.

Devoting himself completely to his work, Dr. Chun has no need to
deal with financial concerns or patient insurance issues. And
when he's not seeing patients, he's passing on his knowledge to
residents -- teaching them to act independently and think on
their feet.

After practicing pediatrics for several years at the Navy Medical
Center in San Diego, Dr. Chun received the opportunity to serve
aboard an aircraft carrier -- and he jumped at the chance. As the
ship pulled away from the dock, he knew at that moment, "We were
on our way to doing something really important."

A TRULY INTERNATIONAL PRACTICE.

Whether he's treating servicemembers and their families at home
in San Diego or on a mission of mercy treating impoverished
citizens in the Third World, Dr. Chun takes pride in knowing that
his practice is making a worldwide impact. Be sure to click on the
link below to catch his story in his own words.
http://www.navy.com/landing/video/physicians/?campaign=200904MED1092418

By most standards, Dr. Chun leads an exceptional career. But the
advantages of Navy Medicine go far beyond his story.

IT STARTS WITH A SIGN-ON BONUS OF UP TO $400,000.(1)

The financial incentives of Navy Medicine are significant.
Including large cash sign-on bonuses for specialists in these
critical need areas:

Neurosurgery $400,000
Vascular Surgery $400,000
General Surgery $400,000
Anesthesia $396,000
Diagnostic Radiology $364,000
Orthopedics $356,000
Pulmonary Medicine $292,000
Urology $280,000
Emergency Medicine $276,000
Psychiatry $272,000
Family Practice $252,000
Preventive Medicine $220,000

These areas are among more than 30 specialties and subspecialties
available to Navy Physicians -- each composed of some of
medicine's most talented and dedicated individuals.

In addition to your sign-on bonus, as a Navy Physician you could
qualify for up to $120,000 to repay your medical school loans.(1)
Combined with standard benefits including funding for continuing
education plus a competitive salary, tax-free monthly housing
allowance, and complete medical and dental coverage, Navy
Medicine is a compelling option from any angle.

MANY ADVANTAGES. A SINGULAR HONOR.

The world of Navy Health Care. It's a network as unique as it is
unrivaled. Encompassing state-of-the-art facilities and
cutting-edge medical advances. Where you'll collaborate with
teams of experts as you strengthen your own improvisational
skills. Witnessing breakthroughs in everything from emergency
trauma to infectious disease research.

EVERY PRACTICE TELLS A STORY. WHAT WILL YOURS BE?

The Navy's need for skilled physicians has never been greater.
And the scope of your potential impact? Virtually limitless.
Click on the link below to Watch Dr. Chun's story.
http://www.navy.com/landing/video/physicians/?campaign=200904MED1092418

Then find out more on your own. Click on the link below to fill
out a brief form for a free Navy Medical Corps DVD and
brochure -- and discover a whole new level of pride and purpose
in practice.
https://www.navy.com/action/HPSPMedicalForm?identify=0409phywf1092418

SEE IT FOR YOURSELF: EXCELLENCE IN PRACTICE.

What makes Navy Medicine so rewarding? So unique? We invite you
to find out. Click on the link below to fill out a brief form to
get your free Navy Medical Corps DVD and informative brochure by
mail.
https://www.navy.com/action/HPSPMedicalForm?identify=0409phywf1092418

Learn all about life as a Navy Officer and Physician. Taking your
experience far beyond the range of a typical practice. Honing
your edge with unrivaled leadership and management training. 30
days' vacation with pay earned every year. Comprehensive
health-care coverage. Global travel opportunities. And more.

Discover what an impact you could make as an Officer and
respected member of the Navy Medical Corps.

Interested in serving part-time in the Navy Reserve? Click on the
link below to complete a form for more information.
https://www.navyreserve.com/request...ity=rsTd_physicians&campaign=0409phywf1092419

(1)Offer depends on specialty and service commitment.

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[edmadison]

For what shall it profit a man, if he shall gain the whole world, and lose his own soul. Mark 8:36.

Ed

 

[sethco]

For what shall it profit a man, if he shall gain the whole world, and lose his own soul. Mark 8:36.

Ed

Agreed. If you do this solely fo rthe money, you will be vastly disappointed.

As for commitment, total will probably be 8 years (with 4 served on Active Duty), but I am unsure about this. If you take additional bonuses, you will incur addition commitment.

 

[Ender]

First of all Great quote. Very true. So I am assuming that in joining the Navy I would loose my soul, or so you feel.

Any stories you would like to share? Or links to ones you have already shared? Thanks.

Ender

For what shall it profit a man, if he shall gain the whole world, and lose his own soul. Mark 8:36.

Ed

 

[The White Coat Investor]

Good golly, it looks like a lot of money molly.

Do the math. $276K for an emergency doc for a 4 year commitment. 276/4=$69K/year.

A military emergency doc makes about $130K/year. A civilian emergency doc makes about $270K/year. So instead of making 1/2 what you deserve, now they have to pay you 3/4 of what you deserve. Better, but certainly not a screaming deal, especially when you throw in less control over your work environment, deployments, and PCSs.

I like the part in the article where he says you get to concentrate on just your clinical work. That's hilarious. I don't know of anywhere in military medicine where an O-6 is spending even 50% of his time doing clinical work. I was offered a position that would have reduced my clinical work by 90% as an O-3, 2 years out of residency.

 

[Yellowstone]

They're enticing big numbers, but actually not that great considering it's over 4 years, and they're also not eligible for ISP or MSP.

 

[TX_NFS]

I just recieved and email from the Navy that offered a huge sign-on bonus of up to $400,000. I have had some trouble finding out about the time commitment when accepting this bonus. Does anyone know the details? Here is the entire email:

Looks like your email address might be embedded in that last link. Dunno if you care about that or not.

 

[BigNavyPedsGuy]

(edit) never mind (edit)

 

[jabreal00]

For the FP, psych, or other lower paying specialties it is a pretty good deal, if one is in it for the money. However, for more lucrative specialties, it does not make much financial sense. A neurosurgeon can easily make $600-700K a year.

 

[atomi]

-

 

[The White Coat Investor]

They make $350k/year in my neck of the woods.

The figure is a national average. Some higher, some lower. If you're willing to work more, you can make more too.

 

[Ender]

Looks like your email address might be embedded in that last link. Dunno if you care about that or not.

Thanks for the info. Fixed.

 

[XxWBPxX]

I have no idea how it feels to be a grossly underpaid, highly trained physician...yet. What I do know is that I've read on this website umpteen million times about how military docs deserve more money. Usually accompanied by something to the effect of if not equal... at least more competitive.

This seems like a step in the right direction doesn't it? It appears to me that there trying to open up some doors to people who want to serve but just can't justify the paycut otherwise (also a commonly used complaint). Some of you joined up for much less!

Just my two cents though.

 

[The White Coat Investor]

I have no idea how it feels to be a grossly underpaid, highly trained physician...yet. What I do know is that I've read on this website umpteen million times about how military docs deserve more money. Usually accompanied by something to the effect of if not equal... at least more competitive.

This seems like a step in the right direction doesn't it? It appears to me that there trying to open up some doors to people who want to serve but just can't justify the paycut otherwise (also a commonly used complaint). Some of you joined up for much less!

Just my two cents though.

Interesting how that sense of entitlement creeps in over the years isn't it? I'm not sure when that happens? Perhaps it is that senior year in college when you realize how hard it is to get in. Or perhaps the month you spend with your nose in First Aid for the USMLE Step 1. Or perhaps sometime in that surgery rotation when you haven't slept in 40 hours. Or maybe the first time you're bled on, spit on, yelled at, humiliated, sued etc. I don't know where it comes in. But I find that even the most idealistic of us have lost a lot of that "I'd do this for $25K/year" craziness that we had as a pre-med.

 

[NoMoreAMCAS]

If the 400K was tax free, it would be a little more enticing.

 

[XxWBPxX]

Interesting how that sense of entitlement creeps in over the years isn't it? I'm not sure when that happens? Perhaps it is that senior year in college when you realize how hard it is to get in. Or perhaps the month you spend with your nose in First Aid for the USMLE Step 1. Or perhaps sometime in that surgery rotation when you haven't slept in 40 hours. Or maybe the first time you're bled on, spit on, yelled at, humiliated, sued etc. I don't know where it comes in. But I find that even the most idealistic of us have lost a lot of that "I'd do this for $25K/year" craziness that we had as a pre-med.

I've worked in an ED as a tech while knocking out my prereq's so I've experienced much of what you mentioned in some capacity or another - particularly the lack of sleep (sadly the "bled on, spit on, yelled at, humiliated..." isn't always a patient...Dr. ) That being said, I will reiterate that I'm on the outside looking in... and I think the money we're talking about is considerably more than $25k. Let's face it, as doctors, you are entitled. However, this just seems to be a classic case of "give 'em and inch..."

We're up to four cents now.

 

[MudduckMD]

Just as an attempt to address the "$400,000 sign-on bonus" offered by the USN (fine print: over 4 years as an attending AFTER you've paid back your commitment), here's how it really works out:


1) You sign up for the 3- or 4-year HPSP scholarship to get out of med school debt

2) After graduating med school, you start your intern year somewhere (typically in a military program)

3) After intern year, you = GMO, and may end up at sea for a year or so before you do a residency (Navy only, not Army or AF)

4) You complete your residency (i.e. anesthesia) -- sorry, these years do not count as "payback", as you're still in training

5) You are now an attending with a commitment to serve in the US Navy for every year of HPSP incurred (i.e. usually 4 years) *** Note: this time does = "payback" (you now get paid your basic pay for your rank + $15,000/year physician bonus + $36,000/year specialty bonus (i.e. anesthesia) = roughly $120k/year (no sign-on bonus yet, sorry)

6) 4 years later, while all your civilian anesthesia buddies have been making $350-$400k/year and you have been making $125k/year all this time, your commitment is finally over and you can get out. Most of you will.

(Note: they WILL deploy your ass to the Middle East BEFORE they let you go - nowadays, not every deployed doc gets to hide in a hospital and see patients. They have figured out a way to "check the box" by sending us through Army combat skills training for a couple months, and then we are good to go out as "soldiers". As an Air Force doc currently in afghanistan, I wear my pistol on me daily, and anytime I go outside the wire (almost daily) I bring my rifle/full body armor/etc. I drive an up-armored Humvee everywhere and also take turns commanding convoys. We get daily intel reports of what routes we can take and which are expected to have IED's and suicide bombers that day. I also perform vehicle maintenance and weapons maintenance. Oh, I have not seen a patient yet during my 6-month deployment - almost done!)

------------------------------------------

7) If you still have decided that you do not want to get out, despite having finished your commitment of 4 years as an ATTENDING, then you are eligible to "sign-on" for additional time in service. 2 more years = $25,000/year bonus in addition to your bonuses above; 3 more years = $35,000/year; 4 more years = $50,000/year

CONCLUSION) IMHO, not worth it for most docs - i would go back to having some med school debt in a heartbeat in exchange for my safety. The exceptions would be those who truly love the military, and those who will be going into primary care, where the military pay is not far off civilian pay - and the work on the military side is easier.


hope this helps...

 

[dwb8p]

(Note: they WILL deploy your ass to the Middle East BEFORE they let you go - nowadays, not every deployed doc gets to hide in a hospital and see patients. They have figured out a way to "check the box" by sending us through Army combat skills training for a couple months, and then we are good to go out as "soldiers". As an Air Force doc currently in afghanistan, I wear my pistol on me daily, and anytime I go outside the wire (almost daily) I bring my rifle/full body armor/etc. I drive an up-armored Humvee everywhere and also take turns commanding convoys. We get daily intel reports of what routes we can take and which are expected to have IED's and suicide bombers that day. I also perform vehicle maintenance and weapons maintenance. Oh, I have not seen a patient yet during my 6-month deployment - almost done!)

Don't mean to derail the thread, but could you please elaborate as to why you haven't seen a patient during your 6 months of being deployed as a GMO. Why do they have you leading troops?