Originally Posted by physicsnerd42
Last I checked, law schools were full of eager (but misinformed) students who think that going to that 3rd tier law school with the $200k price tag will allow them to become partner at renowned NYC law firm within 5 years of graduation. The reality is that most of those students will end up making $60-70k -- if they're lucky enough to find a job in the currently horrible law job market -- and they'll still have that $200k in loans to pay off.
There are two flaws in your thinking: 1) You seem to think that politicians, insurance companies and patients think that physicians deserve the salaries they currently make and that they will try to protect those salaries (or that physicians as a group have enough power/determination to work to stop reimbursement cuts). 2) That you won't find a bunch of idealistic pre-meds (looked at pre-allo lately?) who think that spending $400k between undergrad, postbac and med school is a great proposition, even if salaries plunge. Most people don't NPV analysis before deciding to go to med school and I'm not sure why you think they'll start if salaries continue to go down.
Now, I don't think that primary care physicians will be averaging $75k/year but I also don't think that any specialty should assume that salaries will remain high just because salaries in those specialties have averaged $350k+ over the last decade.
Lol. Argument fail.
Where and what did I say to make you think I believe other groups think we deserve the pay?
Secondly, I do believe there will be some pre-med entering the field... at first
. After a decade and people start seeing how disatisfied physicians are, how little they earn, malpractice, liability, training time to earn 75k, etc.... no one would enter the field of medicine.
Which was my original statement.
Physicians are already beginning to show signs of dissatisfaction with the field today, imagine if the salaries were cut by 60%?
Right now a lot of those idealistic pre-med still have dreams of $, prestige, or something that would all be stripped away with 75k salaries and 10 years of training with 250k in debt.
Your scenario is not only unlikely, it would decimate medicine. College grads can earn 50k doing whatever, or they can train in medicine 7-10 more years with 250k (+ losing 200k in opportunity cost) in debt to earn 75k... you're kidding. If you work 55 hours a week, you could probably get promoted to earn 75k in a few years at a normal job.
I don't think you have any idea what you're talking about.
Btw, who else can make 75k in less than 10 years of training? Below, midlevel salaries for various positions...