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deleted941485
I think the other thing that deserves mention (again) is that academics are not always as badly paid as it might appear at first blush. The reported data is often base salary. I know where I trained the base was very low (low $200s for assistant professors) but their bonuses were frequently high 5 to low 6 figure. Add on all of the other incentives and you are talking real compensation in the neighborhood of high 300s for 60% clinical effort as assistant professors and low-mid $400s as associates.
I'll be transparent. My base last year was $335. Bonuses totaled $35 (so we are up to $370). Our 401K is stupid high: 2:1 company match up to 15.95% so they end up kicking in the IRS max which is just shy of $33 (now we are a little over $400). I don't count it as real money but I have great health care for my entire family and the hospital pays 100% of the premium. For 50% clinical effort as a relatively new grad (starting year 3) may pay is really not that far off from what I could expect in many PP situations these days. I certainly have a lower ceiling in the long run, but I am not hurting by any stretch.
So do you live in the south or Midwest?