Most young physicians are generally satisfied with their first job, but when they do decide to leave, compensation is the biggest reason, according to a study from CompHealth.
For the study, CompHealth partnered with Hanover Research to survey 592 young physicians who completed their medical training since 2014.
Here are five findings.
1. Approximately half of young physicians used referrals (51 percent) and networking (48 percent) to search for their first job. Social media (12 percent) was one of the least used methods.
2. In the end, 40 percent of young physicians said the found their first job through referrals or networking, the study found. Twelve percent received a job offer at the place of their residency or fellowship.
3. Young physicians said the top stressors related to obtaining a new job were finding the right job fit (60 percent) and negotiating contract terms (58 percent). These were followed by negotiating compensation (56 percent).
4. Overall, most young physicians indicated they were satisfied with their first job. Specifically, the study found 82 percent of physicians who completed their residencies or fellowships in 2014, 2015 or 2016 were still working in the same first permanent contract position at the time of the survey and reported general satisfaction with their employment.
5. Young physicians said compensation (59 percent), work/life balance (51 percent) and bad management (45 percent) were the biggest reasons they chose to find new jobs. By gender, men identified compensation as the biggest reason (69 percent), while women identified poor work/life balance as the biggest reason (56 percent).
Read more about the findings here.
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