Does it make financial sense to go to a private endodontic residency?

[FunnyGirl1116]

Hey everyone,

Just wondering if people thought it made sense to attend a private endodontic residency?

If you look at a school like USC, 1 year with living expenses is $140k. So two years is $280k.

Assuming a general practice associate makes $120k, over two years, that's obviously over a half million dollar opportunity cost.

Over a 30 year career, if an endodontist works in a metropolitan area and averages $200-220k, does it make sense to go?

Or, over a 30 year career, if an endodontist works in a more rural area and makes $300-400k, does it make sense to go?

And I'm also considering more intangible factors like better job security, more of a chance to live in a metropolitan area and to be able to live comfortably, and a simpler business model/less employees.


Thanks for your feedback.

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[SirBrotherJam]

Any reason why you wouldn't consider a public program?

 

[FunnyGirl1116]

Oh of course first choice is a public program, I'm just wondering if I'd be competitive enough to get in?

 

[periopocket]

It probably depends how much existing debt you have vs. your sincere interest in the specialty - I’ve heard endodontists making 200k - 1 million a year, with the higher end being owners of large practices.

 

[FutureDent020]

If you are working as an Endodontist and only hovering around $200k through your career you are doing it wrong. Don’t get too caught up in the doom and gloom of these boards. 200-220K are the starting offers out of residency. That doesn’t mean that’s what you make through your career. The average endodontist who is doing “well” and working full time makes 2x that much. The ones doing very well are the $600K plus. Obviously there is no salary guarantee with the specialty, but this is what I have learned from being in the specialty. Just wanted to address that.

Deciding on where you go to residency depends on your finances, debt, family, etc. Dozens of students graduate from private Endodontic residencies every year. A lot are great programs. If you want to be an endodontist you go to the cheapest school you can. If it’s between a private and not going then that’s up to you. It’s your career. Are you ok being a GP or would you be much happier doing root canals/ surgeries every day?

 

[SirBrotherJam]

Oh of course first choice is a public program, I'm just wondering if I'd be competitive enough to get in?

Honestly each program director looks for different things. May not necessarily be a high GPA, AEGD/GPR, or experience. Show face to programs to let them know you are interested would be my biggest advice.

 

[navirpid]

Hey everyone,

Just wondering if people thought it made sense to attend a private endodontic residency?

If you look at a school like USC, 1 year with living expenses is $140k. So two years is $280k.

Assuming a general practice associate makes $120k, over two years, that's obviously over a half million dollar opportunity cost.

Over a 30 year career, if an endodontist works in a metropolitan area and averages $200-220k, does it make sense to go?

Or, over a 30 year career, if an endodontist works in a more rural area and makes $300-400k, does it make sense to go?

And I'm also considering more intangible factors like better job security, more of a chance to live in a metropolitan area and to be able to live comfortably, and a simpler business model/less employees.


Thanks for your feedback.

My honest opinion, if you like doing root canals then you should do endo residency. It will more than pay off in the end (it will probably pay off very quickly). Endodontists charge a lot, are highly specialized and therefore become very efficient and have some of the lowest overhead in dentistry. GPs on the other hand have some of the highest overhead (and lots of staff to manage). Your average endodontist makes way more than your average GP. Plain and simple. I considered doing endo at one point because it's a simple and focused business model (literally one procedure all day long), low overhead, relatively high fees = less stress and more money. Why didn't I do endo? Because I can't stand doing root canals lol. But if you like them then you should absolutely do it. Just my opinion.
And if you don't get in the first time, do a GPR.

 

[FunnyGirl1116]

Should I do a GPR if I'm 6 years out of school though???

 

[56101991]

Your salary estimates are extremely conservative. I personally know multiple endodontists who made ~300K in their first year out of residency. I would estimate right out of residency 250-300K is the average (maybe just my area), unless you're slow of course or the office just isn't that busy. I would advise you to go to the cheapest program you can but also keep in mind that even the slowest of endodontists make great money so go where you are accepted regardless of cost.

 

[SirBrotherJam]

Should I do a GPR if I'm 6 years out of school though???

I wouldn't. 6 years of experience is way more valuable than 1 year of a GPR. Most directors will see this. Unfortunately, there are some that just want that box to be checked. Not worth it in my opinion. You should get interviews without one.

 

[SirBrotherJam]

Can I PM you regarding the Navy and residency?

Sure, but to be fair I haven't started residency yet.