Careers
What Should I Do First? A Complete Step-By-Step Guide For Optometrists
Here is a “Guideline” list of financial steps that we hope will get you started, but should be adjusted to your own personal situation as an optometrist.
Read More2024 Optometrist Income Report
With increasing student loan debts, an ever changing economy, and a profession that continues to withstand disruption – many optometrists begin to question their associated worth as practitioners. While the old phrase “comparison is the thief of joy” rings true in certain facets, comparison to get a true sense of trends in salary, debt load…
Read More16 End-of-Year Financial Checklist For Optometrists in 2023
As 2023 draws to a close, it’s vital for optometrists to focus on financial planning for a stable and prosperous future. This checklist, designed for eye care professionals, will guide you through key year-end financial tasks. While not every item may apply to your practice or personal finances, reviewing each one ensures you don’t miss important opportunities or obligations.
Read MoreState of ODs on Finance: 2022 in Review, and a Look at 2023!
It’s hard to believe, but the year 2022 has vanished in the blink of an eye. This past year, we’ve had the pleasure of seeing ODs on Finance continue to grow and help ODs on their financial journey, whether they be new grads or seasoned veterans. We are thankful for your attention, your questions and your contributions. Two tenets that hold paramount value to us at ODs on Finance are transparency and productive growth. In this letter, we will highlight how our community has grown, the various methods we provide value to our community, exciting new projects/acquisitions for 2023, and a look at our commercial interests/disclosures – trust us, you’ll want to read this! Here is a quick recap of 2022!
Read More5 Tips to Stand Out in Your Job Search
A commonly noticed trend has been noticed over the last few years – new optometry programs continue to pop up throughout the country. This directly leads to an increase in the number of graduating optometrists. Therefore, it is reasonable to assume that the job market for associate optometrists is becoming more competitive. In a competitive environment, job applicants must seek ways to stand out from their peers as leading candidates. Learn how to make an impact on employers and set yourself apart from colleagues on your way to success.
Read More3 Tips on How To Ask For an Optometry Raise
Associate ODs usually have an income ceiling that is difficult to reach and rare to break through. This article will tackle a challenging topic that is rarely discussed and can help employed ODs make the most of their income potential – how to ask for a raise. Here are three tips
Read More3 Important Steps to Do Due Diligence For a Successful OD Practice Purchase
Purchasing a practice is an exciting yet daunting process for both new grad and seasoned optometrists alike. One of the reasons purchasing a practice is so daunting is due to the uncertainty that comes with becoming the new owner of an existing business….Due diligence methodology for purchasing an optometric practice has been nearly universally defined by prominent valuation experts in the field. This is the 3 methodology that we will be discussing.
Read More8 Dos and Don’ts When Purchasing an Optometry Practice
Practice ownership is often heralded as one of the pinnacles of an optometric career. Having ownership of a practice often allows for higher income, and more importantly: freedom and autonomy to practice as one sees fit. In my career, I have had the privilege of buying my own practice as well as helping others through the buying process… So whether you are a newly minted graduate looking to begin your legacy, or you are a seasoned veteran looking to acquire another piece of your empire – use these points to help guide you towards your next big purchase.
Read More3 Optometry Job Contract Red Flags to Watch Out For
Reviewing contracts can be tedious, challenging, confusing, and flat out exhausting. However, the contract review and negotiation phases of the career search journey are arguably the most crucial steps in the entire job search process. This could set you up for huge financial success early on in your career, or it could keep you stuck at an office where you would rather not work any longer out of fear of breaching your contract. We tend to focus on compensation because it’s easier for us to understand as compared to legalese. However, I would argue that the non-salary contractual items are equally, if not more, important than wages. This article will briefly discuss three non-salary red flag items to be aware of during your contract review.
Read More8 Financial Mistakes that New Optometrists Make
The average new optometrist graduates at an average age of 28 year old (significantly behind non-OD peers in terms of income generation), with an average student loan debt of over $220,000+, with little or no retirement investments. Often new grad optometrists find themselves practicing in oversaturated cities and most importantly without any formal financial education. This is the perfect storm that often leaves many doctors mentally overwhelmed and prone to devastating financial mistakes. In this article, we will address 8 common financial mistakes that new OD graduates make and how you can avoid them to be financially successful.
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