Originally Posted by Shinken
If people are having trouble paying bills with a six-figure salary perhaps those people need a more realistic lifestyle.
By the way, everyone realizes that the salary they report is always the take-home salary before taxes, and after all overhead and expenses are paid, right?
When someone offers to hire you for, say, $150k, that means that you will be taking home a salary of $150k at the end of the year. You do not have to pay off malpractice, staff, overhead, etc. off of that salary.
As a family doc, I'm expected to make about $350,000+ in revenue, and after you deduct malpractice, staff salaries, overhead, then I will be taking home a salary in the range of $150,000-190,000 depending on productivity.
Considering that you are not taking home 150K per year, but rather 110, 470 per year, which translates to 9206 per month. I currently pay $2200 a month in loan repayment, so that'll bring it to roughly 7000 a month. Rent is, what, $1500 a month for a decent place? Minus 500 in groceries and 400 in gas? so that'll take you to 5K a month in disposable income? Not bad, but definitely not great. Considering specialists will make double to triple what you make...