Can money solve physician burnout?

I previously published a post discussing the most recent Medscape burnout survey results for physicians.  An interesting point of discussion was that many physicians felt that if they made more money, they would likely be happier.  Today, we will discuss the implications of this thought process and if there is evidence to support the claim.  Will more money make me happier?

Let’s find out.

Defining the problem

In the aforementioned survey results, physicians felt that the number 1 solution that would decrease burnout rates was earning an increase in pay.  Of course, this doesn’t solve any of the major causes of burnout (non-physician busy work, electronic medical records, bureaucracy, and lack of support from administrators).



In fact, physicians are notoriously bad spenders who rarely put money towards building wealth, and instead spend it on other things (cars, house, etc.).   Is this problem unique to physicians?


Remember, with the low financial literacy that exists among physicians, more money won’t solve any problems for two reasons. First, most doctors won’t know how to use money effectively. Second, more money doesn’t solve any of the actual causes of burnout.

How much do we need?


The answer is $75,000.  Another study at Purdue produced similar findings where happiness and life satisfaction did not increase above $75,000 to $95,000.




The answer


Here are five ways that you might learn to be content:

1. Learn to separate spending from happiness. A bigger house, faster car, and expensive designer clothes are unlikely to make you happier. And any happiness that you derive from expenses on new things quickly subsides.


2. Contentment starts with yourself. This relates to the next point, but there is something to be said with simply knowing yourself.  Don’t let your self-identity get trapped by your profession.


3. Stop comparing yourself to others. Learn to set your own expectations.  If you feel that part-time work or asking to focus on certain aspects of your job (i.e., research and education, if in academics) will make you happier, then set your own expectations and ask for what you want.

Many doctors have found that cutting back helped sustain their careers.

4. Learn to appreciate the life you have been given. In the end, contentment is not really possible if you aren’t appreciative of what you currently have.


5. Answer a question or two about your life’s purpose.  Honesty is often the best policy.


It’ll also probably make you more intentional about how you spend your money, and produce contentment along the way.






James Turner, also known as “The Physician Philosopher,” is an anesthesiologist who blogs at his self-titled site, The Physician Philosopher. He is the author of The Physician Philosopher’s Guide to Personal Finance: The 20% of Personal Finance Doctors Need to Know to Get 80% of the Results.

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