The median annual wage for physicians was over $250,000 in 2015, according to the Bureau of Labor Statistics. Doctors who practice a specialty, such as anesthesiology or general surgery, had median earnings of more than $425,000.
Those high salaries might make it seem as if doctors are content to work their jobs then retire at 65 with a hefty pension and savings. But, surprisingly, that doesn’t seem to be the case.
Physicians, including younger doctors who are graduating medical school with a ton of debt, as well as several years of residency and fellowship training ahead of them, are looking for ways to supplement their income and achieve financial independence even more quickly.
The great thing about physician entrepreneurship is this: there are a lot of opportunities out there to grow a business and support your annual salary. As a jumping off point, here are a few ideas that you could invest some time exploring:
It can be a medical blog where you provide expert insight into a niche topic or a blog that’s about something that you’re deeply interested in, even if it has nothing to do with the medical profession.
If you’re passionate about helping others, teaching could be a great option for a side hustle. Whether through tutoring struggling medical students or guest lecturing for a class at your local medical school, there are plenty of teaching opportunities for medical professionals.