u/Useful_Support_4137

Psychiatry has been among the fields most impacted by influx of NPs. Medscape did a recent survey and psychiatry saw the biggest annual drop of any specialty in terms of compensation at 3%. The reality on the ground is that inpatient jobs are getting saturated with midlevels and outpatient jobs with good working conditions and in desirable locations are becoming more scarce. We are also not even coming close to the market saturation from midlevel providers based on projected numbers.

Compensation and availability of desirable jobs is going to be a big challenge moving forward and I encourage applicants to really reflect on what they are hoping for in terms of future career. If you are passionate for psychiatry, great - go for it. If you're looking for all the perks that have come with psychiatry historically you may end up disappointed by the end of training. Just one stranger's opinion but please do you research.

Hi everyone. Resident physician here. I am 2 years out from completing my residency and am on the fence about paying down my LOC versus making contributions to index funds via my TFSA. In general I do have some regrets about not investing more in index funds over the course of my residency although that is easier to say in hindsight, comes with some risk and paying down the LOC has provided psychological comfort.

Currently have 15K left on my LOC, have paid down about 75K over the course of residency. LOC interest rate is prime - 0.25%. Have an additional 60K in provincial loans that are deferred until completion of residency. Making between 85-95K annually now. At present about half of my paycheck goes towards the LOC, federal loans and professional fees. Expecting to make ~250-300K annually when finished, pre-tax and overhead. No real assets and currently renting without plans to buy property in near future.