Congrats to medical students across the country who recently learned where they will be spending the next three to seven years of their lives. After four years of working hard in med school, for most, Match Day is cause to celebrate and breathe a sigh of relief. But alas, the moment of calm is just that — momentary. Soon after you hit the ground running in residency, you must also start thinking about your first physician job search.
While the timeline of a first physician job search will vary depending on your specialty (and perhaps your J-1 visa status), it’s never too early to begin the research phase of your search, and the Jackson Physician Search website is the ideal place to get started. The Physician Career Resource Center hosts a well-organized library of content covering topics such as:
- Physician job search tips
- Rural practice considerations
- Physician executive path
- Physician work-life balance
You’ll also find a physician salary calculator that allows you to benchmark how much physicians earn in your specialty and targeted location. All of this information will be useful as your job search progresses, but it can be a lot to digest at once. Keep reading for our recommendations on the best way to approach your physician job search research.
The Importance of Physician Job Search Research
Before you dive in, it’s important to fully understand the purpose of the assignment. The reality is, the more you know about physician careers, the easier it will be to develop a clear picture of what is most important in your first physician job. This knowledge will be critical to narrowing down and evaluating opportunities.
While past research shows most residents prioritize compensation in first job decisions, other datapoints indicate that the highest offer does not always equate to the best fit. In a recent study by Jackson Physician Search and MGMA, “From Contract to Connection: How Authentic Relationships Foster Early-Career Loyalty and Retention,” more than half (59%) of physician respondents reported leaving their first job within three years, and in most cases, the reason for leaving had nothing to do with compensation.
Of course, base salary and signing bonuses matter, but new physicians must look beyond compensation if they hope to find a good long-term fit — something fewer and fewer newly trained physicians are doing. The trend of shrinking tenure suggests physicians often accept the biggest offer but quickly discover that it takes more than money to be happy at work. Conducting thorough physician career research can help you identify what those things might be for you.
Research Topic #1: Physician Compensation
Despite the priority given to compensation, many physicians coming out of training don’t fully understand the complexities of how physicians get paid. The Physician Salary Calculator can reveal average physician income for your location and specialty, but you will need to do some additional research to learn how the various compensation models may impact what you can expect to earn. Specifically, you’ll want to understand the details surrounding salary guarantees, the terms of productivity or quality bonuses, and any strings attached to signing bonuses or loan repayments. Start with the articles listed below, but be sure to reach out to a physician recruiter and ask them to walk you through anything you may be missing.
- Physician Compensation 101: What Residency Didn’t Teach You
- Physician Compensation: Ask the Right Questions at the Right Time
- Physician Salaries: Are You Earning Enough?
- 6 Things to Know About Medical School Loan Repayment and Your Physician Job Search
Research Topic #2: Geographical Implications
Many physicians come out of training fixated on finding a physician job in a specific location, but before you make any decisions, do some research on how your chosen location may influence physician earnings, work-life balance, and career trajectory. Urban or rural, east coast or west, midwestern metro or southern suburb — each location comes with pros and cons. Do some research and talk to a recruiter about which type of location best aligns with your needs.
- 3 Reasons to Expand Your Physician Job Search
- 5 Physician Job Relocation Considerations
- Is Rural Medicine Right for You?
- 7 Reasons You Might Be Happier in a Rural Physician Job
Research Topic #3: Medical Practice Models
Compensation and location may be the most important factors in accepting a first physician job, but our study of early-career physicians found the reason most often given for leaving the job was the “practice ownership/governance model.” That is, many physicians realized the structure of their new organization was not a good fit for their needs. The report concluded that new physicians may accept offers without fully understanding how their new organizations will be managed — and how that may impact their job satisfaction.
Misunderstandings over practice models shouldn’t be surprising when you consider that residents spend most of their training in academic hospital environments and have minimal exposure to other practice models. Thus, this is an area to research thoroughly — starting with the articles listed below. Once you have a better understanding of the topic, seek out physicians in a variety of practice settings and interview them about the pros and cons of the paths they have chosen.
- Physician Career Options: Private Practice vs. Health System Employment
- How to Choose the Right Practice Setting
Research Topic #4: Physician Job Satisfaction
Another thing to consider is that the intangible factors can have a far greater impact than you imagine. Physician autonomy, a sense of purpose, schedule flexibility, healthy professional relationships — these are just a few components that make up physician job satisfaction. Explore the articles below for a glimpse of the many other factors to consider in your physician job search.
- How to Evaluate Work-Life Balance with a Potential Employer
- Could Purpose be the Secret to Physician Job Satisfaction
- How to Find a Role with Physician Autonomy
- Finding Your Tribe: Building Authentic Relationships in Your First Physician Job
Once you’ve gotten started with these three critical topics, head over to the Physician Career Resource Center and visit the Resident Toolbox. Here you will find job search tips for residents, a resident’s job search timeline, a checklist of job search documents, and more. However, the best way to learn about your options is to reach out to a member of the Jackson Physician Search recruitment team. We look forward to learning more about you and guiding you through the first physician job search process.
Have more questions about the physician job search?
The Physician Career Resource Center provides articles, whitepapers, and infographics designed to help physicians through all aspects of the physician job search.
