Hello folks,
I was wondering if someone could help me out on an issue.
I have read people's suggestions on improving milmed by
paying military physicians the same salary they would recieve
in the civilian world. This sounds like an good but idealistic idea.
Anyhow, let's take a USUHS student's finances as compared to
going the civilian route.
1. USUHS: = +212k$ earned by USU grad during med school.
2. Loans for school: =
Most of the people I talked to that
have filled out financial aid are borrowing about 50k$/yr for all expenses
going to a civilian school. Since some of this money will go to room and
board, the USU student will use some of the above money
to cover that. So 40k$/yr. net spent on education only by civilian route
than the USU student.
Since many students will end up in primary care,
I cant assume here the student will be a spine / neurosurgeon so
interest will be had and will be payed.
40k$/yr. X 4 yrs 160k spent on education only.
Factoring in interest.. to be on the conservative side:
= +300k$ effectively saved by USU student on education only.
3. Residency =
I'm picking a 5yr radiology residency
because that what I'm interested in (5 yrs in both milmed and
civilian side) {Most residencies are 4 years and will make much
less than a radiologist as an attending}.
A civilian radiologist can expect to earn about 225k$
in those 5 years in residency. (this is done starting with a salary
of 40k as an intern (YEA RIGHT!!) and earning 2.5k$ more
each year thereafter.
A radiology resident in the military can expect to earn about
325k$ for the 5 years. (This is on avg. 65k$/yr. earned by mil
guy, being conservative again here, it should be closer to 69k$/yr.
making it closer to 345k$ {this mil guy will actually proportionally
get taxed less on his 345k$ than the civilian guy on his 225k$,
bringing up the difference even higher.}
= 100k$ more earned by USU student.
(Actually this number is closer to 125k-145k$ more, I'm not factoring
that the mil guy will get taxed less from his gross salary and will
probably make more than 65k$/yr. on average.)
My thought is, why should the USU milmed physician be getting
payed the same as the civilian (except that he
may be putting himself in harm's way) ...
if he is already 500k-1m$ ahead after completion of residency??
Thanks for reading.
I was wondering if someone could help me out on an issue.
I have read people's suggestions on improving milmed by
paying military physicians the same salary they would recieve
in the civilian world. This sounds like an good but idealistic idea.
Anyhow, let's take a USUHS student's finances as compared to
going the civilian route.
1. USUHS: = +212k$ earned by USU grad during med school.
2. Loans for school: =
Most of the people I talked to that
have filled out financial aid are borrowing about 50k$/yr for all expenses
going to a civilian school. Since some of this money will go to room and
board, the USU student will use some of the above money
to cover that. So 40k$/yr. net spent on education only by civilian route
than the USU student.
Since many students will end up in primary care,
I cant assume here the student will be a spine / neurosurgeon so
interest will be had and will be payed.
40k$/yr. X 4 yrs 160k spent on education only.
Factoring in interest.. to be on the conservative side:
= +300k$ effectively saved by USU student on education only.
3. Residency =
I'm picking a 5yr radiology residency
because that what I'm interested in (5 yrs in both milmed and
civilian side) {Most residencies are 4 years and will make much
less than a radiologist as an attending}.
A civilian radiologist can expect to earn about 225k$
in those 5 years in residency. (this is done starting with a salary
of 40k as an intern (YEA RIGHT!!) and earning 2.5k$ more
each year thereafter.
A radiology resident in the military can expect to earn about
325k$ for the 5 years. (This is on avg. 65k$/yr. earned by mil
guy, being conservative again here, it should be closer to 69k$/yr.
making it closer to 345k$ {this mil guy will actually proportionally
get taxed less on his 345k$ than the civilian guy on his 225k$,
bringing up the difference even higher.}
= 100k$ more earned by USU student.
(Actually this number is closer to 125k-145k$ more, I'm not factoring
that the mil guy will get taxed less from his gross salary and will
probably make more than 65k$/yr. on average.)
My thought is, why should the USU milmed physician be getting
payed the same as the civilian (except that he
may be putting himself in harm's way) ...
if he is already 500k-1m$ ahead after completion of residency??
Thanks for reading.