You’ve done it! You’ve reached your F3 year and all you want now is a bit of quality of life – after all, you’re probably £80k+ in debt and have been working all the hours going to pass your exams whilst being cash strapped. Isn’t it time to finally earn some decent money and enjoy life? Of course it is!
It’s no surprise that many doctors choose to take an F3 year – over 60% no less, or that the main way they make a living is through locuming.
Locum work is known for being well paid, but what do you have to do to maximise your income and how much more could you potentially make?
If it’s money you’re after, there are a few practical ways you can approach it.
Be prepared to travel – Typically, remote and rural areas pay the most – do your research, because there’s no point relocating somewhere you won’t like living!
It has to be sustainable – If you’re looking to save a decent sum of money from your work, you’re going to have to find a job you like because you will be working a lot of hours - For example; a job paying £60 that you enjoy is always going to be better than one paying £70 which you hate, as you’re unlikely to stick at something you dislike.
Increase your options - Position yourself in an area where there are lots of opportunities at multiple trusts. As an F3 you can work in ED which is always highly in demand - so talk to your recruiter to make sure they are sending you all the options available. It’s worth noting that some areas like London have capped rates, which means it’s difficult to get anything other than a fixed rate at any of the trusts.
Thinking ahead
Doing an F3 can be a great experience. For the first time in your career you get the chance to earn decent money and choose where and when you work! You can even take holiday when you want to! Such freedom!
Many F3s are tempted to continue to locum into an F4 and beyond. Why? Well, it gives them chance to catch up with their finances whilst still enjoying the best of both worlds – time and money.
But it can be difficult to start thinking ahead to specialty training. It might feel you’re taking a step back in terms of quality of life when you’ll no longer be on a locum wage and will have to work set hours again.
However, without further training your locum earning will always be limited. Past colleagues who went straight into training will soon be able to make much more as they are able to locum at a higher grade. So, while this is a great option to take a step back, enjoy life for a while and get your finances back on track, try not to get too comfortable there.
