Podiatry is an occupation with a low stress level, good life balance, and a competitive salary. As a result, a career in podiatry is a path many might seek. Commonly referred to as DPM (Doctor of Podiatric Medicine), the podiatry practice may provide both financial and personal growth. The benefits of a podiatry career include growing demand, enabling you to control your work environment, competitive salaries, no forced retirement, increased opportunities for beginners, a sense of fulfillment, and corporate advantages.
So, Is podiatry a good career choice? The answer is Yes. Podiatry provides you with an opportunity as a practitioner to research, invent and teach. As Movement 101 suggests, it’s better to follow a passion that will enable you to learn new things on the job every day than a job that just offers a regular paycheck. In this article, we shall examine how podiatry can be a good career choice if you venture into the profession.
1. Growing Demand
Podiatrists work in a specialty and industry where there is a growing demand and a decline in supply. According to the Bureau of Labour Statistics, employment in the sector is set to grow to about 20%. More people will also turn to podiatrists as the number of injuries sustained by foot increases as the elderly population increases. Many professions would kill for this type of economic dynamic as this ensures that podiatrists will always have work and future opportunities.
2. Enables You to Control your Work Environment
Most professionals working in this field are either self-employed or working in group practices to the possibility of future partnership or ownership. This means that if you are self-employed or working in practice, you can’t be laid off during an economic crisis. Being your boss is priceless as you can control your work environment.
3. Competitive Salaries
The national mean annual wage is $148,220 and is almost three times the annual average salary for all occupations. Also, the perks that come with the profession are immense as compared to other fields. If one works in private practice and owns a successful chair practice, one can earn up to $ 352,547. Your income can also be affected by the experience, geographical location, and practice.
4. No Forced Retirement
The practice has no forced retirement as their occupation isn’t physically demanding as podiatrists can work up to 90 years of age. According to a survey done in the US for professionals aged between 20 years to 70 years, their median savings goal for retirement was $350,000, but their current savings was $25,000. In comparison, podiatrists say they will never retire and need at least 2 million dollars to do so. In case their retirement plans hit a snag, their retirement savings are still more than 25000 dollars and they can continue to practice.
5. Increased Opportunities For Beginners
Opportunities are now emerging, especially for those entering the practice with seven years of training. This is due to the growing demand and respect for the specialty. Starting salaries from these positions have increased, and these doctors function independently as compared to other occupations.
6. Provides a Sense of Fulfillment
Podiatric physicians not only preserve limbs but also keep patients walking, therefore increasing their functional capacity. The practice helps manage threatening health conditions such as heart disease, strokes, depression, cancer, obesity, and hypertension. These conditions generate a considerable portion of today’s healthcare costs making podiatry in the healthcare system now more valuable than ever.
7. Corporate Advantages
Since most podiatrists practice alone or in small groups (two to three), combining practices offers a new opportunity for them to gain corporate benefits while still maintaining their independence. Coming together to form groups also creates new practitioners and exit strategies for more experienced practitioners who would like to relocate or practice part-time.
8. Enhances Your Personality
Every practice is unique and takes the personality of the podiatrist. The profession has numerous areas in which one can focus, not limiting their practice while still making a good living. In most circumstances, those who narrow their energies to a specific area do better financially and with a more defined strategy.
If you have decided to pursue a career in podiatry, it is crucial to do some research. Doing research enhances your knowledge as a podiatrist as well as improves the knowledge of other podiatrists. However, apart from these positive attributes, the field remains unpopular to students. Most people think this is due to the issue of respect. Students want to enter a profession that is regarded as highly respectful such as a doctor or dentist. All in all, podiatry is a rewarding career.