Are You Being Underpaid as a Doctor? Here’s What to Look Out For | Ep. 02

Join 26,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors

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In this episode, join me, Dr Bi Mian and Munzural Khan, Chairman at KHI Partners, as we share important financial tips that could save early-career doctors from costly employment mistakes and missed entitlements.

We talk about the elements every doctor should check on their first payslip, the complexity of medical overtime payments and penalties, and why HECS obligations can create unexpected tax headaches if not properly managed.

We also discuss the differences in doctor pay scales between Australian states, how enterprise bargaining agreements can significantly impact your earning potential, and a real-world case where a doctor discovered years of underpayment due to incorrect pay grade classification.

If you want to protect yourself from common employment pitfalls, ensure you're being paid correctly, and maximise your financial benefits as a medical professional, then make sure to listen to this episode!

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TIME STAMPS:

00:00 - Intro
01:36 - Finishing Med School, Becoming an Intern / Pivotal Point
09:06 - Working Overtime Payment + Super
10:56 - NSW Health Workers Not Being Paid Enough / Looking at Payslips
18:10 - Doctors Double Dipping on Cash Threshold
21:38 - Doctors Paying Tax
23:05 - Claim Salary Packaging / Pushing You up for Hecs
24:29 - Looking at Different States / Enterprise Bargaining Agreements
30:05 - Employment Perspective / Pearls of Wisdom from Munzural
33:07 - Conclusion
34:10 - Outro

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SHOW NOTES LINKS

https://ifdgroup.com.au/

https://doctorbi.com.au/https://au.linkedin.com/in/mian-bi

https://khipartners.com.au/https://au.linkedin.com/in/munzurul-khan-7ba6a318

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LISTEN TO THE PODCAST

Spotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN
Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608
Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast

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FIND US HERE

Website: https://ifdgroup.com.au/
Facebook Group: https://www.facebook.com/groups/investingfordoctors
Facebook Page: https://www.facebook.com/investingfordoctors

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DISCLAIMER

The information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tailored to your specific situation.