Monthly stipends for early commitment

[TomatoMan]

A recent noon conference where I am doing my transitional year was given by someone from Cejka (physican recruiters). The presenter mentioned the standard loan repayments, sign-on bonuses, relocation assistance and other common recruitment tools...but monthly stipends (in the range of 2k/mo) were also mentioned as ways larger groups, esp hospital-based ones, recruit docs. i.e... you sign a contract 2-3 years before your residency/fellowship is complete and in return for your early commitment, you are paid a monthly stipend until you graduate. I imagine you may have to accept a lower salary as a result as a tradeoff??? Has anyone heard of this in RadOnc?

Sounds like a great way to avoid the stupid 50k x 5 yrs, then 300+k x rest of career income strata of our field.

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[OTN]

Some of my friends in fellowships (i.e. hand surgery) have come across the "stipend" way of paying a signing bonus. I didn't run across it when I was interviewing for jobs: Far more common was the "lump sum" kind of signing bonus, and these came in the last year of residency, for me at least.

For those of us who were in the market for engagement rings, the lump sum arrangement suited us just fine

t

 

[clintpark]

A recent noon conference where I am doing my transitional year was given by someone from Cejka (physican recruiters). The presenter mentioned the standard loan repayments, sign-on bonuses, relocation assistance and other common recruitment tools...but monthly stipends (in the range of 2k/mo) were also mentioned as ways larger groups, esp hospital-based ones, recruit docs. i.e... you sign a contract 2-3 years before your residency/fellowship is complete and in return for your early commitment, you are paid a monthly stipend until you graduate. I imagine you may have to accept a lower salary as a result as a tradeoff??? Has anyone heard of this in RadOnc?

Sounds like a great way to avoid the stupid 50k x 5 yrs, then 300+k x rest of career income strata of our field.

I have not heard this in radiation oncology, so all the discussion may be moot, but...

2k/mo for 2 years add up to about 50k. And most practices also offer some kind of lump-sum signing bonus. So, the real difference is not even that big. I know your wallet feels very pinched right about now, but I wouldn't limit my options in the job market for that money. You can easily make that up during your first year working. (i.e. The difference between the highest and the lowest first year salaries I was offered was way higher than that.)

Unless this is the location/type of practice you were dreaming about, I would rely on credit cards, parents, second income, moon-lighting, larceny or whatever, to last you the next few years. There is light at the end of the tunnel.

Plus, if the practice is willing to hire a second year resident through a head-hunter, it may not be a very attractive place.