How To Make Money While In Medical School?
Medical school is a very expensive and time-consuming process.
It can take anywhere from 4-7 years to complete depending on the medical studies specialty you choose, but it’s all worth it in the end when you get your degree!
However, not everyone has that kind of money or time available for this endeavor.
Luckily there are many ways to make some extra cash while studying medicine.
Here we will discuss how students can earn money online as well as other options such as working at hospitals during their studies.
Working At Hospitals During The Summer Before Graduating From College
If you want to work at a hospital before graduating college then you should apply early because most places fill up quickly.
Some schools have an application deadline around April 1st so if you don’t apply by March 31st then you won’t be able to do any summer internships.
Most people who go into surgery residency programs start out with 2 months of paid internship which means they basically pay you $20/hour plus benefits.
This is great since you only need about 3 weeks of training after graduation to become fully licensed.
Freelance Writing Jobs
Freelancing jobs are always popular among those looking to supplement their income.
There are plenty of websites where freelancers post writing projects and clients bid on them.
Many doctors write articles for sites like Upwork, Fiverr, PeoplePerHour, etc.
These types of freelance writing gigs usually require you to submit samples first and include a cover letter explaining why you would be a good fit for the job.
Once hired, you must deliver within a certain timeframe. If you fail to meet deadlines, you may lose future opportunities.
Teaching English Abroad
Teaching abroad is another way to earn money while going through medical school.
Depending on what country you teach in, you could potentially receive compensation ranging from $10-$25 per hour.
Of course, teaching isn’t easy and requires lots of preparation. But once you land yourself a position overseas, you’ll find that living expenses aren’t too bad either.
Plus, you’re helping someone else learn English which is priceless.
Tutors often charge between $15 – $30 per hour. So tutoring doesn’t necessarily mean you’d be making tons of money.
But it does help you build relationships with potential employers down the road.
And even though you might not be earning much right now, over time you could eventually increase your hourly rate.
Selling Products On Amazon
Amazon offers affiliate links marketing programs that allow companies to promote cool products on its website without having to worry about shipping costs.
When visitors purchase items via links provided by these advertising companies, they provide a commission to both the seller and the company promoting the digital product.
While it takes time to build up a large following, Amazon offers tools to minimize the efforts needed.
Blogging is one of the easiest ways to make money online. All you really need is a computer, internet connection, and a creative mind.
Become An Affiliate Marketer For Other Companies
There are many different businesses offering affiliate digital marketing services.
You can sell other people’s fitness products, offer discounts or coupons, give away free stuff but there is no limit to how far you can take this concept.
The more you put forth effort upfront when getting started will save you hours upon hours in the long run!
Create Your Own Product Or Service
Starting a business is hard. However, if you already own some assets, you can list them as collateral and get a small student loan to fund your venture.
Think: Cars, Real Estate, Furniture, Appliances… whatever you own worth selling.
Sell Digital/Physical Goods
Selling digital goods such as eBooks, courses, apps, designs, audio files, video files, etc. is big today.
It’s also an excellent opportunity to turn your books into cash because there are so many platforms out there that pay authors every month.
Drive for Uber and/or Lyft
The driving requirements for Uber and Lyft are very similar. Uber and Lyft both require a clean driving record, a 4-door vehicle, and an iPhone or android smartphone.
You can sign up to drive with Uber or Lyft by visiting their websites and following the steps to become a driver.
Medical Research Assistant
Medical research assistants perform a variety of administrative and research tasks to support a medical research team.
They may be involved in the design and implementation of a project, data analysis, and ensuring compliance with study protocols.
A medical research assistant is a healthcare professional who is employed in a clinical or medical research organization or lab.
The primary role of a medical scribe is to take detailed notes or records for physicians and patients during the course of medical care.
Medical scribes may work in a hospital, urgent care facility, doctor’s office, or clinic.
You can donate plasma to earn decent money. The plasma is used to make an inventory of plasma for people with hemophilia, immune system deficiencies and other chronic medical conditions.
What Are the Benefits of Making Money Online During Medical School?
Making money online during medical school students has become increasingly popular among students who want to supplement their income while pursuing higher education.
In fact, according to a recent study conducted by The Princeton Review, nearly half of all college graduates have made money online at least once since graduating high school.
This number jumps to 64 percent for those who graduated from four-year colleges.
And only 14 percent of busy people who dropped out of college reported doing so due to financial reasons.
So why do so many people choose to work online instead of working traditional jobs?
Here are just a few benefits of making money online during medical school:
1) Flexibility – You don’t have to wake up early to go to work like most office workers do.
Instead, you can start working whenever you feel like it. This means you’re less likely to burnout.
2) No commute – If you live near where you plan to work, then commuting may seem like a hassle.
But with online employment, you’ll never have to deal with traffic jams or parking problems.
Plus, you won’t spend any extra money on gas either.
3) More control – With online employment, you decide what kind of hectic schedule works best for you.
So whether you prefer to work late nights or early mornings, you can still find something suitable.
4) Better job security – Many employers use websites like Upwork to hire freelancers.
They know they can easily fire someone without having to worry about legal repercussions.
5) Less stress – Working online doesn’t require much physical exertion. In addition, you don’t have to interact directly with customers.
That makes it easier to avoid dealing with rude clients.
6) Higher earnings potential – According to data collected by Indeed, the average hourly rate for freelance platform writers was $24 per hour back in 2015.
By comparison, the median annual salary for future doctor was around $160k.
7) Lower overhead costs – Since you aren’t paying rent or utilities, you can cut down on other expenses too.
For example, you might be able to eat lunch outside rather than buying groceries.
8) Easier time finding new opportunities – When you make money online, you often end up meeting new friends along the way.
These connections could lead to future projects or even full-time positions.
9) Increased self-confidence – As mentioned earlier, earning money online gives you instant gratification It lets you see how well you perform under pressure and helps build your sense of independence.
10) Improved social array of skills – Being paid to write articles is one thing. Writing them as part of a team is another entirely. Team members will help each other improve their writing style and grammar.
Do medical students get paid during residency?
Medical students get paid during their residency and the amount of their pay is decided by their residency application program and is usually commensurate with the number of years of school and the amount of training that the student has already undergone.
However, this amount is usually much less than what a fully qualified doctor earns.
The reason being that there are more experienced physicians who want to take over residencies from those who are graduating.
So, these senior residents earn higher salaries because they have been trained longer and have had more experience.
What Is An Internship And How Does One Get Paid During Residency?
An internship is an unpaid position which allows interns to gain practical knowledge and hands-on experience while learning about medicine.
These internships are typically offered at hospitals, clinics, nursing homes, etc., but some schools also offer them through community health centers.
Interns may not receive compensation for their services, although many do.
However, if the hospital offers scholarships, then the student may qualify for financial aid.
If the internship does provide monetary benefits, such as tuition reimbursement, stipends, housing cost allowances, free food, transportation, etc., then the student would need to apply for funding based upon his/her individual needs.
In most cases, however, the only benefit provided is education. So, when applying for jobs after graduation, applicants should mention any relevant work experiences gained during their internships.
This shows employers that the applicant has learned valuable lessons throughout the process.
Is Medical School Hard?
Medical school is hard. It’s not just hard because you’re learning new information, it’s also hard because you’re spending a long handful of hours studying and working.
But if you want to become a doctor, then medical school is the only way to get there.
So, if you’re thinking about applying to medical school, here are 5 reasons why it might be worth it.
1) You’ll learn everything you need to know in order to succeed in med school.
2) There are plenty of resources available to help you study effectively.
3) The competition isn’t nearly as high as it is for law school or graduate programs.
4) Your grades won’t matter until later on in your career anyway.
5) If you don’t like practicing medicine, you can always go into research instead.
Are Doctors In Demand Right Now?
Right Now, there is a growing need for doctors, and their pay is expected to grow as well. This makes it a perfect time to enter the medical field.
According to the Bureau of Labor Statistics, employment opportunities for primary care providers will increase by 14% between 2010 and 2020.
As a result, the demand for medical professionals is expected to rise dramatically.
It’s important to note though that the BLS expects growth rates to slow down somewhat by 2020.
And even so, the job market for doctors is still projected to remain strong.
Because of all of this, we expect to see continued interest in becoming a physician.
The good news is that with increased training requirements, fewer future students entering medical school each year, and increasing numbers of graduates choosing other careers, the supply of physicians is likely to outpace the demand.
That means that you shouldn’t worry too much about being able to find a residency program right away.
You could potentially wait several years before finding one.
Also keep in mind that once you’ve completed your residency, you can choose from among hundreds of specialties.
Medical students can earn money online in multiple ways.
Whether you are a medical student in your undergraduate program or a medical student in your graduate program, you can earn money online.
There are many sources of income for medical students, such as tutoring services, medical transcription, and blogging platform.
All of these options for medical students to earn money online, however, require time and effort.
A Wife, a mum and a Tutor! I am the Lead Editor at TheTutor.Link & also the Head Tutor there. I love teaching seeing young minds flourish. I also love blogging and sharing my experience on the world wide web.