Making some extra money can be very helpful for medical students. Most earn nothing because they rely on student loans, scholarships, or parents to cover school and housing costs. Getting money for small activities like hanging out with friends can be challenging, so having some extra cash can help.
Earning extra money can help keep your credit card debt low. It can also help pay for essential things like conferences or residency applications. It can even help you reduce the amount of student loans you need.
This article will explore seven side hustles or jobs you can do as a medical student to make money while studying. However, it is essential to remember that time is precious when you’re in medical school. Depending on your schedule, chosen specialty, need to study, and rotations, some jobs might be easier than others. Therefore, go for what works for you.
How Can a Medical Student Earn Money
The following are side hustles you can engage in when in medical school:
1. Tutoring
People believe that if you are smart enough to get into medical school, then you are good at school and studying. As a medical student, you can capitalize on this belief and profit from it.
There is usually a big need for tutors, and becoming one can help you earn a lot of money. Sometimes, you can earn more than $100 an hour when you help college students prepare for the MCAT.
To get started, you can reach out to local schools and libraries to advertise your tutoring services. You can also help other students in your medical school.
2. Working as an Emergency Medical Technician (EMT)
Working as an emergency medical technician (EMT) is another job option for you as a medical student. Several medical students work as EMTs. It is a great way to use what you learn in real life.
This job can help you, especially if you want to work in emergency medicine or trauma. You also see what first responders experience before patients arrive at the hospital. Just like tutoring, the hours can be flexible. However, you will probably need to commit to a set schedule that works around your classes.
ALSO READ: 7 Legitimate Ways for Lazy People To Make Money
3. Phlebotomist
A Phlebotomist is a person who is trained to draw blood from patients. Interestingly, you do not have to be a doctor or nurse to do this job. You could work in a hospital or lab close to your house. Some mobile phlebotomists travel to people’s houses to draw blood. This job is essential to life and disability insurance companies because they sometimes need blood and urine samples to decide whether someone can get insurance.
To make it easier for customers, insurance companies send mobile phlebotomists to the person‘s home instead of asking them to visit a hospital. Insurance companies need someone not involved with the company to collect the blood samples. To do this, they hire independent phlebotomy companies, which hire people as contractors.
As a contractor, you get to choose when you want to work and how much work you want to do. The company gives you a list of people in your area who will need their blood drawn. This way, you can arrange a time that works for you and the company. You will be paid for each exam you complete, so you can take on as much work as you want. This flexibility makes it a good side hustle in medical school.
4. Medical Scribe
Being a medical scribe is another job that allows you to get medical experience. A scribe follows a doctor around during appointments, taking notes and entering them into the doctor’s electronic records.
However, this job may not be as flexible since it depends on the doctor’s schedule, which might not work well with your own. Doctors might want someone who can work at the same time they do. If you can find a doctor whose schedule matches yours, this could be an excellent way to gain experience and earn money.
5. Medical Research Assistant
If you are in medical school, your school is probably part of a research institution. Many doctors involved in research projects often need help. You could work as a medical research assistant and get paid. The work hours can be flexible, but some projects might require more time, so knowing how much time you will need to commit before you start is essential.
6. Be Part of a Research Study
You can volunteer for a research study if you cannot work as a research assistant. Many studies need volunteers to test things on, and they will pay you for your time. It is an excellent way to make extra money without a regular job.
ALSO READ: 10 Ideas of Passive Income for Doctors
7. Donating Plasma or Sperm
One common way medical students earn money is by donating plasma. It takes an hour and a half, and you can make between $20-$50 per donation. If you donate plasma twice a week, you could make a few hundred dollars per month.
If you are a male medical student, another option is donating sperm. Since you are in medical school, your sperm could be valued higher than someone with a less demanding job. You could earn $500-$1000 a month if you donate regularly. However, you should research and avoid some services if you want to keep your identity a secret. This is because some services could link you to your biological children.
As a female medical student, you can donate eggs. This is more complicated than sperm donation, but it pays more. It pays around $10,000, or even more if you are in medical school. Some people spend up to $50,000 for eggs from future doctors.
If you are a woman who has already had a baby, you might consider being a surrogate. It is a big commitment and not for everyone, but first-time surrogates usually get paid around $25,000.
This list of jobs for medical students while studying is not exhaustive, but these are some of the top choices. You can research further and pick the job that best meets your needs.