[xaa]

I live in an inexpensive part of the country, so salaries obviously vary based on that. $80-150K is the normal range for a PI here, but the sky's the limit if you can pull in a lot of grants/royalties.

There are no set hours. You work when and where you want. (I usually roll in around 11-noon). They don't really care how you spend your time, as long as you publish and get grants. Patents are just icing. Obviously clinical hours are in the 9-5 timeframe though.

I don't really know the normal IP cut in detail. I believe it is roughly 50% of the patent royalties, negotiable depending on how much pull you have. But if you are the actual owner of the business as well as the patent creator, then you get both the royalty cut and the business profit, whereas if you just sell the patent you get only the royalties (but obviously that is a lot less work).

EDIT: I feel compelled to point out that it's not all roses. The flip side of the freedom is that you are judged solely on your results. If you can't produce, for whatever reason, you're going to have a hard time. There's little job security. And so forth.