Making money on the side during residency?

[McMasterMD]

What are some ways that residents make money on the side? e.g. providing medical services, investing, consulting, selling their kidney(s)... etc.

[shikimate]

Not a whole a lot that I've heard of, mainly because people are strapped for time and you can't independently practice yet. I've seen some people do interview prep and charge by the hour. Occasionally there are some clinical trials where you can earn some pocket change. The only way I've heard people make substantial money is when they moonlight. Sometimes there are grants/scholarships you can apply to if you have something to show for.

[Snowmen]

At my school, if you're a PGY-2 or higher, you can do teaching in small groups with medical students or work as an interviewer for medical school admissions which pays decently and both are usually fairly fun.

You can also become a chief resident or assistant-chief resident which comes with a monthly stipend of roughly 600$/400$.

[rmorelan]

yeah there usually isn't much - and your variable schedule does get in the way of somethings as well.  Plus let's face it - you will have limited energy/attention, and you don't want any distractions from preventing you from getting the target end goal. 

Some of my classmates reviewed legal cases for a bit - help explain to lawyers what is going on medically. 

 

[Snowmen]

20 hours ago, rmorelan said:

yeah there usually isn't much - and your variable schedule does get in the way of somethings as well.  Plus let's face it - you will have limited energy/attention, and you don't want any distractions from preventing you from getting the target end goal. 

Some of my classmates reviewed legal cases for a bit - help explain to lawyers what is going on medically. 

 

Good point that time is an issue. I'm lucky enough to be in a program with non-existent call duty so teaching basically replaces the time I would spend on call. I did teaching while in a rotation where I had to take busy call and let's just say that it wasn't fun at all.

[samy]

I moonlighted/locumed a lot during PGY5 and PGY6 with my IM then ID license. 

Quite. Lucrative.

[McMasterMD]

7 hours ago, samy said:

I moonlighted/locumed a lot during PGY5 and PGY6 with my IM then ID license. 

Quite. Lucrative.

At what level of training can one start moonlighting? 

[shikimate]

1 hour ago, McMasterMD said:

At what level of training can one start moonlighting? 

It really depends on your province and home program. For example:

https://meds.queensu.ca/index.php/academics/postgraduate/current/policies/moonlighting

https://restrictedregistrationontario.ca/program-chart/

[gogogo]

On 4/25/2022 at 1:31 AM, rmorelan said:

Some of my classmates reviewed legal cases for a bit - help explain to lawyers what is going on medically.

May you please elaborate on this (here or private message)?

[rmorelan]

2 hours ago, gogogo said:

May you please elaborate on this (here or private message)?

there are many lawyers that work in law where they run into medical reports etc. It helps them to have someone with medical training to interpret the various reports so they can prepare their arguments. 

[gogogo]

On 4/26/2022 at 1:31 PM, rmorelan said:

there are many lawyers that work in law where they run into medical reports etc. It helps them to have someone with medical training to interpret the various reports so they can prepare their arguments. 

Thanks for explaining. Lawyers find resident (vs. staff) consultation acceptable? How did your colleagues find these opportunities?

[mikaylajaylengtt4]

Hey there! It's been a while since your post, but I wanted to offer some insight. Some offer consulting services or invest in stocks, but it's important to be cautious about risky ideas like pyramid schemes or illegal businesses. 
If you're keen on exploring other avenues, there are cool options like real cash games. They're fun and can bring in some extra bucks without the risks. Also, consider skills you have or hobbies you enjoy – you might find a side hustle that aligns with those. Just remember to research and be patient as you try out different things.