Congratulations! You made it through medical school and have completed your residency. Now what? As you take the first step toward planning your career as a physician, there are many considerations you need to make as you embark on your journey.

Explore Career Pathways and Practice Settings

Now that you’ve completed residency, it’s time to consider what kind of physician life you want to build. Start by exploring the full range of practice options available to you. Consider what type of practice type would work best for your lifestyle and family, or evaluate where you’d like to live in relation to a practice setting.

You might be drawn to the academic world, where you can combine clinical care with teaching and research. Or, you may prefer the independence of private practice, where you have more control over your schedule and patient base. Hospital employment offers stability and resources, while community or group practices can provide a balance of autonomy and collaboration. Some physicians also find fulfillment in nonclinical paths such as medical education, consulting, or industry work.

Once you determine where you want to work, make sure you are prepared with both your CV and your interviewing skills. Experts and mentors can help you prepare, and it’s always best to practice your negotiating skills for your contracts.

Don’t feel pressured to accept the first offer that comes your way; take time to find the right fit for both your career and lifestyle.

Preparing Financially

Stepping into your first attending role often means a significant jump in income, but also new financial responsibilities. Before you upgrade your car or buy your dream home, take time to build a solid financial foundation.

Start by revisiting your budget. Plan for potential relocation, new living expenses, future goals, and loan repayment while allowing some flexibility for enjoying your new income responsibly. Many new physicians find it helpful to work with a financial adviser who specializes in physician finances. They can help you navigate student loan repayment strategies, refinancing options, or investment planning.

If you take on Locum Tenens or 1099 work, remember you’ll need to handle your own taxes and won’t qualify for programs like Public Service Loan Forgiveness (PSLF). Understanding how your employment status affects your financial plan early on will save you stress later.

And don’t overlook the basics; build an emergency fund, contribute to retirement savings, and protect yourself with the right disability and life insurance coverage. The key is to think long term and let your financial habits set the stage for freedom and flexibility later in your career. Panacea can help you achieve financial independence through their unique banking opportunities exclusively for physicians like checking and savings accounts, PRN Personal Loans, and Student Loan Refinance.

Develop Your Professional and Personal Brand

Transitioning from trainee to attending also means defining who you are professionally. Continue expanding your network: stay in touch with mentors, join specialty societies or national organizations, and stay engaged with your peers. Keep your professional profiles (like LinkedIn or Doximity) up to date, and don’t hesitate to share your achievements, research, or areas of interest.

Keep learning: stay active with continuing medical education (and attend conferences if/when you can) and explore leadership or teaching roles if you enjoy mentoring others. It’s also worth taking time to understand contract basics, malpractice coverage, and employment benefits; these details will affect your stability and satisfaction long-term.

Think of this stage as building your “brand” as a physician; not for marketing purposes, but to shape your identity, reputation, and professional direction.

Don’t Forget to Have Fun

Most importantly: have fun! You have officially completed your medical training! Give yourself credit for your hard work and try to avoid falling into imposter syndrome. After years of intense training, this is your chance to reclaim balance and joy.

You’ve worked hard to get here; now it’s time to create a life that’s both fulfilling and sustainable! Be intentional about maintaining work-life balance. Set healthy boundaries, reconnect with the hobbies or people that keep you grounded, and take time to celebrate your milestones. While it might seem daunting and overwhelming at first, this is an exciting time in your life and you should embrace every new experience. Good luck!

If you need financial support as you take the next step in your career and life, Panacea Financial is ready to help. Learn more here »