On the other hand, those that prepare our contracts often have business degrees. They negotiate contracts for a living, and their incentives and interests are rarely aligned with yours. It’s not a fair fight.
When I graduated from my residency in OBGYN in 2017, I went from making $49,000 per year to $250,000. If my math is correct, that’s around a 500% raise?! I was thrilled, to say the least.
Understanding how differences in income can impact our lifelong wealth and ability to achieve FIRE is critical. Especially in my field of OBGYN, we’re a field heavily dominated by female physicians.
How do we even begin to address all of these discrepancies and conundrums? How do we know what we are worth?