Any California PAs here? Thinking about moving after school, have some questions.

[cdcd67]

Yeah getting a job in EM as a new grad can definitely be tough. What Timon is suggesting sounds great. I kind of wished I applied for a residency program when I got out of school. I feel like the training would be a lot better, especially in handling more acute patients.

[AbeTheBabe]

^^^ And this is right.  $750k to walk in the door in SoCal is exactly right.  And this is in the Valley...NOT the beach.

 

 

Also, you are correct.  California is ripe for another 2007-2008 housing crash.  Prices are so inflated now, do you want to be left standing with no more musical chairs left to sit in?

 

Are you saying I should be buying a place now or wait until there's a dip and buy then. My plan was to wait, considering I don't yet have even 10% down for a 750K home.

[Boatswain2PA]

Abe - Live like a starving student until you are debt free (no CC, no car, no student loans).  Then live like a starving student until you have 20% saved up for a down payment.

Then get a 15 year fixed rate.

Then pay your mortgage off in 7 years.  

 

Then, in 10-12 years from now...you will be able to truly enjoy your nice paycheck. 

[AbeTheBabe]

Abe - Live like a starving student until you are debt free (no CC, no car, no student loans).  Then live like a starving student until you have 20% saved up for a down payment.

 

Then get a 15 year fixed rate.

 

Then pay your mortgage off in 7 years.  

 

Then, in 10-12 years from now...you will be able to truly enjoy your nice paycheck. 

 

Unfortunately we already live a "good life" so it would be hard to downgrade at this point. Not extravagant, but we have a nice place to live and 2 new leased cars and like to travel. Fortunately, we don't go to restaurants/bars often so that helps out. Plus we have no CC or student loan debt. We live completely off my income and save my wife's income for a down payment (in the past year we saved 50K in addition to 10% of our salaries going to 401K). However, when the leases are up I'll probably buy 2 cars around 30K each and drive them into the ground.

[Katera]

Are you saying I should be buying a place now or wait until there's a dip and buy then. My plan was to wait, considering I don't yet have even 10% down for a 750K home.

 

 

 

I would not buy now, but that is me.  Prices right now are 30% higher then the 2007 peak which is terrifying.  

 

So who is buying all these houses pushing up the prices?  Cash buyers.  Specifically cash buyers from China looking to stash their money offshore .  Go to any open house in Arcadia, Alhambra or anywhere in Orange country and I defy you to find less then half of the people there speaking anything other then Mandarin.  They pay full price + 15% all in cash.  Conventional buyers simply can not compete.

So today I read that China is clamping down on nationals taking money out of the national reserve and investing it overseas.  Being communist, they can pretty much change the rules on a whim, and change it they are.   When they put this into effect, the cash will dry up and house prices will crash from their hyperinflated prices.  Don't take my word for it, research it.   House prices are artificially elevated do to the cash buyers.  When that cash goes away.....Boom.

[AbeTheBabe]

I would not buy now, but that is me.  Prices right now are 30% higher then the 2007 peak which is terrifying.  

 

So who is buying all these houses pushing up the prices?  Cash buyers.  Specifically cash buyers from China looking to stash their money offshore .  Go to any open house in Arcadia, Alhambra or anywhere in Orange country and I defy you to find less then half of the people there speaking anything other then Mandarin.  They pay full price + 15% all in cash.  Conventional buyers simply can not compete.

So today I read that China is clamping down on nationals taking money out of the national reserve and investing it overseas.  Being communist, they can pretty much change the rules on a whim, and change it they are.   When they put this into effect, the cash will dry up and house prices will crash from their hyperinflated prices.  Don't take my word for it, research it.   House prices are artificially elevated do to the cash buyers.  When that cash goes away.....Boom.

 

I agree, I think there will be another dip in the next 5 years. Maybe not as bad as 2008, but enough where people who live here can actually afford a home. I'm just saving what I can for a down payment in a 1% online savings account, should be a substantial sum in 3-5 years.

[Katera]

I agree, I think there will be another dip in the next 5 years. Maybe not as bad as 2008, but enough where people who live here can actually afford a home. I'm just saving what I can for a down payment in a 1% online savings account, should be a substantial sum in 3-5 years.

 

 

 

Every dollar you save and put down and don't have to pay interest on is money saved/earned.  Your smart.  

[Katera]

http://www.doctorhousingbubble.com/irvine-foreign-money-cash-real-estate-stonegate-cemetery-great-park/

[DizzyJ]

I've been living in north cal (Sacramento) for just over a year.  I moved here from Honolulu.  So, decrease in cost of living for me, but higher cost of living compared to my home state of Ohio.  The pay is definitely better here and I'm at my highest rate of my career $80/hr.  When I first moved here I was doing outpatient psych at $70 and have jumped up pretty rapidly.  The cost of housing sucks.  My 1981 1934 sq ft house here would easily be $100-150k cheaper in Ohio.  However, the housing market is doing well for sellers right now and I am selling.  My house has jumped up $40-50k in just a year.  

[Katera]

I've been living in north cal (Sacramento) for just over a year.  I moved here from Honolulu.  So, decrease in cost of living for me, but higher cost of living compared to my home state of Ohio.  The pay is definitely better here and I'm at my highest rate of my career $80/hr.  When I first moved here I was doing outpatient psych at $70 and have jumped up pretty rapidly.  The cost of housing sucks.  My 1981 1934 sq ft house here would easily be $100-150k cheaper in Ohio.  However, the housing market is doing well for sellers right now and I am selling.  My house has jumped up $40-50k in just a year.  

 

 

 

Housing appreciation is great living in California...if you plan to sell and move out of state.  Most are not.  So they make $50k on their house, and pay $50k more on the next Cali homestead ;)      Now where it is HUGE is when you sell from California and move to Texas.  Man, people are paying cash for $500k homes out here and putting money in the bank.  I guess they got tired of paying the California weather tax.

[south]

 

So today I read that China is clamping down on nationals taking money out of the national reserve and investing it overseas.  Being communist, they can pretty much change the rules on a whim, and change it they are.   When they put this into effect, the cash will dry up and house prices will crash from their hyperinflated prices

 

That's not the first time I've heard that.  That's really interesting.  But hang on if i DO MY RESEARCH won't vaccines cause autism?

 

it's a joke people

[Katera]

That's not the first time I've heard that.  That's really interesting.  But hang on if i DO MY RESEARCH won't vaccines cause autism?

 

it's a joke people

 

 

Don't take my word for it, take Forbes magazine...article few months ago:   https://www.forbes.com/sites/ellensheng/2016/12/23/how-u-s-real-estate-sales-could-be-affected-by-chinas-capital-controls/#260a882c2820

[Andrew0568]

I live in So Cal and making $85 hr in EM and FM is a real possibility if you choose to work in San Bernardino or Banning. Most jobs are between the $60-$70 hr mark. A house would cost about $350k-$450k realistically or you could rent a house around $2k / month.

 

And jwells78.. your comment is uncalled for.. I'm not liberal and I'm not offended by anything you said, but I have to point out your commentary / trolling is absurd and reflects poorly on you.. Way to keep it professional..

 

Timon, do you mind me asking how long you've been practicing? I am a new grad and I've been offered a couple Northern California EM positions ~$55/hr. Would you say that's fair for a new grad?

[Katera]

Timon, do you mind me asking how long you've been practicing? I am a new grad and I've been offered a couple Northern California EM positions ~$55/hr. Would you say that's fair for a new 

 

 

 

 

It depends on the job and other benefits.  $55 is low for EM...very low, but as a new grad you have to consider the experience you will be gaining.  You said NorCal....if you are anywhere near SF, good luck living on that.  I read yesterday that the average price of crapshacks there are now 1.3 million.  lol

[Andrew0568]

It depends on the job and other benefits. $55 is low for EM...very low, but as a new grad you have to consider the experience you will be gaining. You said NorCal....if you are anywhere near SF, good luck living on that. I read yesterday that the average price of crapshacks there are now 1.3 million. lol

Thanks for the reply! It's in the Sacramento area. I know friends around here in EM who are making $70-80/hr but they have significantly more experience. I'd say the average price for a decent home is high $400k.

 

$55 seems a little low to me too but the experience will be good and there is close supervision. This is a naive question coming from a naive grad but what would you consider "good benefits?" Thanks again!

[Katera]

Thanks for the reply! It's in the Sacramento area. I know friends around here in EM who are making $70-80/hr but they have significantly more experience. I'd say the average price for a decent home is high $400k.

 

$55 seems a little low to me too but the experience will be good and there is close supervision. This is a naive question coming from a naive grad but what would you consider "good benefits?" Thanks again!

 

 

 

Medical that starts within 30 days.  Lots of corporate run places now make you wait 90 days because...well they suck.

401k match

PTO time off.  Absolute minimum of 2 weeks (80 hours).  Most decent places give you 80 hour plus 40 for CME.  The place I use to work gives you....wait for it.   Zero now.

CME allowance.  $2k use to be the average.  Mine was dropped from $1500 to $500 last year...sigh.

Life insurance offered at no cost is a small but important benefit if you have a family.

So is short and long term disability.

 

Here's the short of it.  As our field becomes more and more saturated with providers including NP's, I have watched benefits go down the tubes.  So much so that I just recently said screw it, and became a locum.  At least I make a decent hourly rate.  The "employee" position I had before  decimated benefits for its providers to such a degree, it just wasn't worth putting up with their corporate overlord bs for them anymore.

 

Good luck.

[Timon]

Timon, do you mind me asking how long you've been practicing? I am a new grad and I've been offered a couple Northern California EM positions ~$55/hr. Would you say that's fair for a new grad?

I graduated Nov 1st 2015 and started working Nov 24th (the day I got licensed). $55 base is about avg starting pay for new grad from what I've seen. After 1 year you can probably jump to $65+ range.

 

I had someone ask me to look at a new grad contract in So Cal near my area for a FM job. They were offering new grads $120k a year + $10k signing bonus, with 30 paid days off, 401k matching, health, childcare discretionary fund, $2500 CME, licensing + malpractice and etc.

 

I know of a few new grads getting $65+ in Nor Cal / Central Coast

 

As a new grad, I got offered $60 /hr starting in ER, another FM job offered $120k for me but little benefits. I work 3 jobs right now. Long story how that happened but I'm working part time in family med, full time as a Lead for two Urgent Care locations, and per diem in an ER. I think my UC pays around $52-$55/ hr for new grads and is in the 40th percentile in pay out here. I'm getting Lead pay which is just a bit higher than that and enough to keep me interested for now.

 

At the two year mark I'll be looking to get a gig that pays in the upper salary ranges as mentioned (I'll likely will take one of these $85 hr jobs in San Bernardino, Duarte or Banning / etc).

[Katera]

At the two year mark I'll be looking to get a gig that pays in the upper salary ranges as mentioned (I'll likely will take one of these $85 hr jobs in San Bernardino, Duarte or Banning / etc).

 

 

$85 for ED or UC?

[Timon]

$85 for ED or UC?

ED and FM. No UC

[Andrew0568]

Thanks for the detailed replies!

 

 

Sent from my iPhone using Tapatalk

[Boatswain2PA]

 I'd say the average price for a decent home is high $400k.

Just to put out another perspective on this:  2 weekends ago wife and I looked at a house, list price was $480K.  3 bedroom, 2 bath with unfinished walk-out basement, very high quality construction & detail work.  

 

Also had a 96X54 morton building with paint booth, office (with bathroom), tons of built in shelving.

 

Also had a 100 year old 100X50 barn that needed some major reconstruction, but beautiful.

 

Oh, and it was on 160 acres of beautiful land!  Stream running through property, we walked across the beaver dam.  Tons of deer.  80 acres of CRP land (hadn't been planted or mowed in 8 years which means bird-hunting paradise) that pays the annual property taxes.  A flock of 10-12 turkeys were walking through the front yard as we walked out of the house.  

 

And it is 4 miles from a major lake.  40 minutes from a major city where EM PA/NPs can make $70-80/hr

 

California is too expensive for me.

[Katera]

Just to put out another perspective on this:  2 weekends ago wife and I looked at a house, list price was $480K.  3 bedroom, 2 bath with unfinished walk-out basement, very high quality construction & detail work.  

 

Also had a 96X54 morton building with paint booth, office (with bathroom), tons of built in shelving.

 

Also had a 100 year old 100X50 barn that needed some major reconstruction, but beautiful.

 

Oh, and it was on 160 acres of beautiful land!  Stream running through property, we walked across the beaver dam.  Tons of deer.  80 acres of CRP land (hadn't been planted or mowed in 8 years which means bird-hunting paradise) that pays the annual property taxes.  A flock of 10-12 turkeys were walking through the front yard as we walked out of the house.  

 

And it is 4 miles from a major lake.  40 minutes from a major city where EM PA/NPs can make $70-80/hr

 

California is too expensive for me.

 

 

 

Where was this?

[Boatswain2PA]

Most places between the left and right coast, and outside of huge cities.