Pros and Cons of Moonlighting for Residents

by Christian Fullmer

Need some cash?

In the middle of your residency program and anxious to start paying off those medical school loans? Looking to get ahead financially?

For many physicians in your situation, moonlighting is a great option. Even still, before you rush into picking up extra hospital shifts, it’s important to take some time to look at the pros and cons, a few of which are laid out below.

First, let’s look at why you should consider moonlighting:

• Pay off loans: The sooner you’re debt free, the sooner your paycheck really is YOUR paycheck.

• Make great money: Already paid off your loans? Earn money to move forward financially, invest, or travel by moonlighting in local hospitals. Some moonlighting gigs pay up to $250 an hour!

• Get more experience: Moonlighting can help you further develop your skills as a physician and will often allow you to practice in a setting outside of your normal routine.

• Make more connections: Expand your network, get to know hospital staffers, and connect with fellow physicians. You never know who will open doors for your career both now and in the future.

The following downsides could be the death of your moonlighting activities if not considered:

• Risk of burnout and overworking yourself: Make a difference and make some money - but only at a pace you can handle. Every physician has a limit to the amount of work they can perform well, and that limit varies by the individual. Reckless overworking as a physician can damage your career and could pose a serious threat to your patients. So, for your own sake and for the sakes of your loved ones and your patients, please moonlight responsibly!

• Opportunity cost of time spent elsewhere: Picking up hospital shifts inevitably means sacrificing time spent on other things. Whether it’s your family, your friends, or the new season of “The Bachelor” you’d be taking time away from, it’s important to look at and weigh the emotional toll involved when you decide to moonlight.

• No taxes withheld: For most moonlighting gigs, you get the full compensation for your work directly into your bank account. However, this means that the facility didn’t withhold any taxes from your check, which in turn means that you are on the hook for those taxes later. See our article "Tax Implications for Moonlighting Doctors" for more on this topic.

• Chance of being stuck in low-level work: There is a solid chance that as a resident you could get handed the short end of the stick when you clock in. This varies by your experience level and by hospital policy, so be ready for anything when you show up for work.

There’s a high chance that there’s a medical facility near you looking for a qualified physician such as yourself to help them out a little. It’s now up to you to take that step forward and begin picking up those open hospital shifts.