I am a PhD student focusing in psychiatric genetics, hoping to become a professor someday. It is my understanding that a lot of the PhDs in my field end up working in schools of medicine in positions that are 80-100% soft money (even though they are tenure-track).
That sounds... terrifying. You're not a clinician so you can't make up salary with patient care, you're in a school of medicine so there isn't much opportunity to cover part of your salary with teaching... it sounds like you would have to spend your entire career living in fear of a grant dry spell, even once you had tenure (no grants = no salary).
Am I misunderstanding how this works, or is it really that bad? How do people survive in that situation?