Side gigs for MDs are growing in popularity. Should you find another hustle for extra cash?
Key Takeaways
Due to inflation and med school debt, physicians are turning to side hustles for extra cash.
Some of the most popular gigs for MDs include everything from medical consulting and expert witness work to business consulting and writing. Some MDs are even flexing their creative muscles with their side hustles.
Healthcare professionals have also been fired from their primary jobs for side gigs on social media, so it’s important to make sure that your side gig isn’t in breach of contract with your primary job.
Americans have been hurting financially due to seemingly endless inflation rate increases—and clinicians aren’t exempt.[] To make ends meet, clinicians have been turning to side gigs (sometimes wholly unrelated to medicine) to earn extra income and grow their skill sets.
And there’s a good reason: As Daniel Smith, MD, wrote on the website White Coat Investor, “For the physician, inflation is the carbon monoxide of fixed wages, a slow and seditious denigration of your financial health.”
Physician earnings may have taken a hit, too. While physician income in 2023 and 2024 did increase, other variables put a dent in those earnings—like the 2% Medicare reimbursement cut that impacted MD salaries. This is all on top of the fact that most clinicians (61%) still feel like they’re underpaid in general.
But that’s not all. Mike McGrath, MD, psychiatrist and chief clinical officer at Oasis Recovery, tells MDLinx that a lot of the clinicians he knows who take side gigs do it to pay down the hefty burden of student loans.
But it’s not all dire. There are plenty of MDs who simply want to build their skills or flex their creative muscles: “Compared to taking on more clinical work, a side gig can also offer more flexibility and work-life balance, which can help prevent burnout and stress,” adds Dr. McGrath.
Popular side-gigs for MDs
According to a physician side gig survey, some of the most popular side gigs in medicine included medical consulting, expert witness work, medical moonlighting, chart reviewing, speaking engagements, and telemedicine. Outside of medicine, real estate, business consulting, investing, teaching, and writing topped the list.[]
Dr. McGrath has known MDs who have done these jobs and loved them: “One was a consultant for a mental health technology start-up. This side gig was very lucrative and flexible. I’ve known another who was an expert witness [who] provided testimony for malpractice, personal injury, and other legal cases,” he says.
Dr. Smith says that a medical degree is a “gateway” to opportunity, pointing to other gigs like roles in IV fluids bars, medical spas, concierge medicine, or sideline sports coverage.
Social media influencing is a key side gig for MDs—so much so that the American Medical Association now offers a code of ethics for social media use. Some of the most well-known clinicians on social media have between 100,000 and one million followers who follow them for health information or to get a glimpse behind the scenes in surgery.[]
One licensed nurse practitioner, Vanna Padilla, amassed a huge following for her dermatology posts. By partnering with healthcare apparel and beauty brands, she was able to earn two weeks’ pay by posting about a single product. But there’s just one issue: Padilla was ultimately fired from her primary job for breach of contract. []
But you can get creative with it, too. Omotola Ajibade, MD MPH is a forensic psychiatrist who moonlights as a photographer: “I started professionally photographing when I needed a job between medical school and residency,” he tells MDLinx. “Before that, it was just a way to keep me sane while attending medical school. I often joke that no one goes to the psychiatrist because they're having a good day. That's especially true among my patient population, many of whom are wrapped up in the criminal legal system.”
Dr. Ajibade says he loves photography work because it allows him to experience joy. “It reminds me that as much as people go through difficult times, they also go through happy times as well,” he says.
But it also gave him valuable skills: “Over time, it taught me a lot about decision-making, building workflows, marketing yourself, and so much more. Having had the experience of building and running a photography business gave me the confidence that I needed to start building a forensic consulting practice straight out of fellowship.”
Should you seek a side gig?
Dr. Ajibade encourages MDs to seek side-gigs—although he stresses that not everyone needs to turn their side business into full-time work, something that can be tempting. “Most of the time, you can live a decent life on your primary income. Having a side gig can be a wonderful outlet for dealing with the stress of healthcare and minimizing burnout,” he says.
But there’s a more existential benefit to working another gig, he says. “It can help you see yourself as someone who can't exist outside of medicine,” Dr. Ajibade emphasizes. “Many physicians lose themselves once they retire because medicine is the only thing they ever did and the only thing they ever knew.”
The main thing you’ll want to do is clear potentially problematic gigs with your primary employer. According to a BMJ article on side hustles for MDs, the most important thing you can do when formulating a business plan is to consider both the ethical and legal aspects of what you’re doing.[]
In the end, if you love what you do, it’ll be a success: “I think that the most fulfilling side gig is whatever excites and inspires you. You’ll get more out of it if it’s something that you have a genuine interest or passion for,” Dr. McGrath says.