Medicine vs. Banking

[DMDcanada]

I have a friend who is starting a career as a banker. He is 23 and claims to be pulling in 100k! He constantly walks around saying he has the best/most prestigious job. Im not jealous or anything, but he is starting to make me dought my career in medicine. I mean, it'll be another 10 years b4 i earn that kind of money!! In my heart, however, i believe that medicine is the most/prestigoius career for me. Just wanted to know if any of u have similar situations!

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[LJDHC05]

Since when does money=prestige? Medicine isnt prestigous...being a senator is prestigous.

 

[Taurus]

being a senator is prestigous.

When did being a politician become prestigious?

 

[LJDHC05]

When did being a politician become prestigious?

Prestige=power+influence in my book

If the general american public listened to their physicians there wouldn't be several of the health problems that plague the country(obeseity for example). So there goes influence. Everyone dies eventually, and the only one with power over that is God almighty...physicians are still working that one out.

Senators, douchebags though they may be, create legislation that shapes the way that the lives of 300 million of us live in the US. They also determine their own salaries via budget legislation...now that's power.

 

[ddmo]

If you're in it for money and prestige, especially in Canada, you're in the wrong field.

And I'm sure most parents would rather brag about their son the doctor, rather than their son the banker.

 

[dron000]

I have a friend who is starting a career as a banker. He is 23 and claims to be pulling in 100k! He constantly walks around saying he has the best/most prestigious job. Im not jealous or anything, but he is starting to make me dought my career in medicine. I mean, it'll be another 10 years b4 i earn that kind of money!! In my heart, however, i believe that medicine is the most/prestigoius career for me. Just wanted to know if any of u have similar situations!

keep in mind that to go into i-banking you need to come from an ivy. or you need to have connections. then you work for 2 years 80hrs/wk doing a very boring job(ask him what he's doing throughout the day), and then you hope to be sent to wharton mba so that you can come back and be promoted to an associate, or else you'll never make more than $100k. only then will you be making $300k+ and as an associate you'll have some kind of responsibilities,etc. Not everyone makes it, because you're someone's bitch all this time, and it's not an easy job. And i-bankers generally work in NYC, not in canada. i dont know much about your "bay street", but i doubt it has as many opportunities as Ivy->Wallstreet->MBA->Wallstreet.

a doctor after finishing residency will make a very respectable salary. While a banker may get lucky and become a millionaire at 30, a Dr knows that he will be a millionaire by 35-40(if he goes to a good residency). And Drs have much more prestige among population because they are seen as more educated and more compassionate. After you make $300k+/yr money doesnt matter so much any more. And I dont think people are impressed if you take a subway and go to be someone's bitch in manhattan every morning, as opposed to coming into your spacious practice in some rich suburbia.

 

[dron000]

Prestige=power+influence in my book

If the general american public listened to their physicians there wouldn't be several of the health problems that plague the country(obeseity for example). So there goes influence. Everyone dies eventually, and the only one with power over that is God almighty...physicians are still working that one out.

Senators, douchebags though they may be, create legislation that shapes the way that the lives of 300 million of us live in the US. They also determine their own salaries via budget legislation...now that's power.

Senators may have power. I'm sure though a rich banker has more power. But power is not the only criterion. Women know that becoming a senator is all about luck/connections/manipulations. On the other hand professions like Doctor or Astronaut or Professor are all about merit. A doctor is usually more erudite and more fun to be around than a senator who knows nothing outside of politics. Politics is completely worthless if you have no people to control. Most politicians are no different from Priests in regards to their personalities. And it's harder to become a Cardinal than a senator.

 

[jon0013]

keep in mind that to go into i-banking you need to come from an ivy. or you need to have connections. then you work for 2 years 80hrs/wk doing a very boring job(ask him what he's doing throughout the day), and then you hope to be sent to wharton mba so that you can come back and be promoted to an associate, or else you'll never make more than $100k. only then will you be making $300k+ and as an associate you'll have some kind of responsibilities,etc. Not everyone makes it, because you're someone's bitch all this time, and it's not an easy job. And i-bankers generally work in NYC, not in canada. i dont know much about your "bay street", but i doubt it has as many opportunities as Ivy->Wallstreet->MBA->Wallstreet.

a doctor after finishing residency will make a very respectable salary. While a banker may get lucky and become a millionaire at 30, a Dr knows that he will be a millionaire by 35-40(if he goes to a good residency). And Drs have much more prestige among population because they are seen as more educated and more compassionate. After you make $300k+/yr money doesnt matter so much any more. And I dont think people are impressed if you take a subway and go to be someone's bitch in manhattan every morning, as opposed to coming into your spacious practice in some rich suburbia.

excellent post dron...

 

[DMDcanada]

keep in mind that to go into i-banking you need to come from an ivy. or you need to have connections. then you work for 2 years 80hrs/wk doing a very boring job(ask him what he's doing throughout the day), and then you hope to be sent to wharton mba so that you can come back and be promoted to an associate, or else you'll never make more than $100k. only then will you be making $300k+ and as an associate you'll have some kind of responsibilities,etc. Not everyone makes it, because you're someone's bitch all this time, and it's not an easy job. And i-bankers generally work in NYC, not in canada. i dont know much about your "bay street", but i doubt it has as many opportunities as Ivy->Wallstreet->MBA->Wallstreet.

a doctor after finishing residency will make a very respectable salary. While a banker may get lucky and become a millionaire at 30, a Dr knows that he will be a millionaire by 35-40(if he goes to a good residency). And Drs have much more prestige among population because they are seen as more educated and more compassionate. After you make $300k+/yr money doesnt matter so much any more. And I dont think people are impressed if you take a subway and go to be someone's bitch in manhattan every morning, as opposed to coming into your spacious practice in some rich suburbia.

u got it!

 

[NonTradMed]

Hmmm, who cares? If it makes some people feel better to say they are doing i-banking or running for senate, that's their perogative. I know medicine is a good career that pays well, and allow me to help others, I don't need validation from some snotty bschooler.

 

[velo]

I have a friend who is starting a career as a banker. He is 23 and claims to be pulling in 100k! He constantly walks around saying he has the best/most prestigious job. Im not jealous or anything, but he is starting to make me dought my career in medicine. I mean, it'll be another 10 years b4 i earn that kind of money!! In my heart, however, i believe that medicine is the most/prestigoius career for me. Just wanted to know if any of u have similar situations!

Ha, get used to it. Don't go into medicine for money. The money is good and the job security can't be beat, but all your friends are going to make a lot of money a lot faster than you will. If you're just in it for your bank account you'll wind up pretty damn bitter before you ever start making bank.

 

[StevenRF]

80 hrs for ibanking? Try 100-120. My roomate was doing it and left it for consulting so he can do 60, a lot of times he would just sleep in his office since he'd have to work 16-20hrs for days in a row. Basically you stare at excel spreadsheets ALL DAY. You make a lot of money, but you throw away a good many years of your life. On top of that, about half your pay is in bonuses, so you don't see a lot of it until the end of the year.

One of the nice things though is all the perks. Talk about ballers, those guys would go out and drop a thousand dollars on a night between dinner and a club, all of it expensed. Then the dining card they get is crazy. My roomate was literally going out for sushi almost every night.

As for the pay, its more like 125 to 150 starting, at least in the top firms.

But I'm telling you, it really really wears you out / kills you. Another one of my friends did it in Europe for a few years, got so sick of it, just quit one day and went on a year long sex / drug party across asia spending all of his saved bonuses.

 

[Law2Doc]

Ha, get used to it. Don't go into medicine for money. The money is good and the job security can't be beat, but all your friends are going to make a lot of money a lot faster than you will. If you're just in it for your bank account you'll wind up pretty damn bitter before you ever start making bank.

Agree with this. I know quite a few millionaires and for the most part they are not doctors (most are bankers, lawyers and real estate developers). But physicians tend to be comfortable. Do medicine if you want to practice medicine. If all you are concerned with is your net worth, a lot of other fields have much, much higher ceilings (but with associated greater risks, as with everything in life).

 

[jbrice1639]

When did being a politician become prestigious?

exactly...if i saw a politician crossing the street while i was driving, there probably wouldn't even be brake marks before the splat...

 

[beetlerum]

Senators may have power. I'm sure though a rich banker has more power. But power is not the only criterion. Women know that becoming a senator is all about luck/connections/manipulations. On the other hand professions like Doctor or Astronaut or Professor are all about merit. A doctor is usually more erudite and more fun to be around than a senator who knows nothing outside of politics. Politics is completely worthless if you have no people to control. Most politicians are no different from Priests in regards to their personalities. And it's harder to become a Cardinal than a senator.

That is definitely not true. It takes a lot of skill to become a senator. A much much much higher percentage of the population is capable of becoming a doctor than senator. I don't know where you people get this stuff.

Now you might say that there are exceptions for people who are super rich before they run for office. Maybe, but it's damn hard to make all that money so they probably have the skill anyway.

I also suspect that senators are no more one-dimensional than doctors, probably less. Again, don't know where you guys come up with this. Doctors are often one-dimensional from having spent so much time studying.

Edit: By the way, what the hell are manipulations?

 

[OSUdoc08]

I have a friend who is starting a career as a banker. He is 23 and claims to be pulling in 100k! He constantly walks around saying he has the best/most prestigious job. Im not jealous or anything, but he is starting to make me dought my career in medicine. I mean, it'll be another 10 years b4 i earn that kind of money!! In my heart, however, i believe that medicine is the most/prestigoius career for me. Just wanted to know if any of u have similar situations!

Do whatever career you would do and enjoy if money didn't exist in the world.

The choice is obvious.

 

[etf]

trust me, 300k is not enough to go into "money doesn't matter anymore" mode. especially living in sf, la, or ny

 

[NUKE]

Question????? IF all of medical school and residency was free and no one was in debt when they got out how many of you would still do medicine if the average salary was $60,000/year????

 

[UserNameNeeded]

That is definitely not true. It takes a lot of skill to become a senator. A much much much higher percentage of the population is capable of becoming a doctor than senator. I don't know where you people get this stuff.

Politicians = lawyers = slimy scammers = dime a dozen.

Bankers = lenders = blood-sucking leeches = dime a dozen.

Physicians = = =

But, really, I think anyone doing honest work is respectable. However, I think being a physician is truly seen as one of the more honorable professions.

Edit: By the way, what the hell are manipulations?

Manipulations = manual therapy performed by D.O.'s

 

[100041]

Question????? IF all of medical school and residency was free and no one was in debt when they got out how many of you would still do medicine if the average salary was $60,000/year????

Yes.

I can't believe that people choose medicine for the money. While it does assure a comfy wage, most individuals intelligent and hard-working enough to become doctors would be better off getting an MBA or accounting or law degree and moving up in the world from there.

 

[TheMightyAngus]

Question????? IF all of medical school and residency was free and no one was in debt when they got out how many of you would still do medicine if the average salary was $60,000/year????

Only premeds have this mentality.

 

[etf]

Yes.

I can't believe that people choose medicine for the money. While it does assure a comfy wage, most individuals intelligent and hard-working enough to become doctors would be better off getting an MBA or accounting or law degree and moving up in the world from there.

there's no guarantee you'll be making money in any of the above fields, but being a practicing physician guarantees you'll be at least middle-middle class: unless you like work for below market wages on purpose or something...

 

[MossPoh]

I think the prestige thing depends on the region of the US and size of town. Granted most of you want to live in a pretty high populated area where I grew up Docs were treated like gods........Everyone knew my dad and he isn't even the social type. He hates not being in that town because there isn't the same level of respect.lol

 

[Law2Doc]

there's no guarantee you'll be making money in any of the above fields, but being a practicing physician guarantees you'll be at least middle-middle class: unless you like work for below market wages on purpose or something...

This is said a lot on SDN, but in my prior career I've actually dealt with bankruptcies of several doctors and medical practices (for reasons unrelated to litigation/medmal -- I didn't work in that area), so I can assure you there is no such guaranty. I've also met relatively few fairly smart or competant people who weren't able to earn at least a "middle-middle" class income in law or banking (and I've known many).

 

[cfdavid]

keep in mind that to go into i-banking you need to come from an ivy. or you need to have connections. then you work for 2 years 80hrs/wk doing a very boring job(ask him what he's doing throughout the day), and then you hope to be sent to wharton mba so that you can come back and be promoted to an associate, or else you'll never make more than $100k. only then will you be making $300k+ and as an associate you'll have some kind of responsibilities,etc. Not everyone makes it, because you're someone's bitch all this time, and it's not an easy job. And i-bankers generally work in NYC, not in canada. i dont know much about your "bay street", but i doubt it has as many opportunities as Ivy->Wallstreet->MBA->Wallstreet.

a doctor after finishing residency will make a very respectable salary. While a banker may get lucky and become a millionaire at 30, a Dr knows that he will be a millionaire by 35-40(if he goes to a good residency). And Drs have much more prestige among population because they are seen as more educated and more compassionate. After you make $300k+/yr money doesnt matter so much any more. And I dont think people are impressed if you take a subway and go to be someone's bitch in manhattan every morning, as opposed to coming into your spacious practice in some rich suburbia.

I agree that pedigree is important in I-banking. But, perhaps not always Ivy level, necessarily. Ideally, you'd do an internship in NYC at one of the large firms. Hopefully you impress them enough to be granted an interview post-graduation. Then, yes, as you stated, these guys work crazy hours doing analytical work and working on proposals/presentations and putting together an analysis on a particular project. 80 hrs is not unusual.

Then, if you want to go anywhere higher, you'll need an MBA, and from a reputable institution, because very often your clients expect that if they're to take such "young" people seriously. Sure, you can make money, but if you can't imagine enjoying the I-bankers life (i.e. the day to day functions of the job) and living in a large urban area, then I'd seriously hesitate to even think about it.

I have a cousin that was just made a VP at one of the big players on Wall Street. He now makes some great cash (min 350-500k) and will be 33 this September.

Personally, I could never see enjoying law, or I-banking....... However, I'm super happy for my cuz.

 

[Callogician]

This thread is ridiculous. How can one compare medicine with Investment banking? A large part of the reason that I went into medicine is my interest in the life sciences and health. I have absolutely no interest in investment banking, and I would probably end up commiting sepuku with my own fat wallet if I went into a field that I didn't enjoy.

Question????? IF all of medical school and residency was free and no one was in debt when they got out how many of you would still do medicine if the average salary was $60,000/year????

I would. No contest. If you had said "$30,000," I would seriously reconsider.

 

[100041]

This thread is ridiculous. How can one compare medicine with Investment banking? A large part of the reason that I went into medicine is my interest in the life sciences and health. I have absolutely no interest in investment banking, and I would probably end up commiting sepuku with my own fat wallet if I went into a field that I didn't enjoy.

While I completely agree with you, it's clear that the original poster is only seeking out the most prestigious, highest paying career.

 

[BrownBradPitt]

read below...

 

[BrownBradPitt]

Prestige=power+influence in my book

If the general american public listened to their physicians there wouldn't be several of the health problems that plague the country(obeseity for example). So there goes influence. Everyone dies eventually, and the only one with power over that is God almighty...physicians are still working that one out.

Senators, douchebags though they may be, create legislation that shapes the way that the lives of 300 million of us live in the US. They also determine their own salaries via budget legislation...now that's power.

In this country, you can buy your way to almost anything (even to the presidency )...and in this case..when you have money, you can influence (with "donations") those senators/legislators into making laws that benefit us..we call those people lobbyists.

So according to this formula MONEY has to equal PRESTIGE...just because when you have money you have power and influence...but of course that means you need a whole lot of money...but hey, we'll all have that kind of money within the next century.


Money=Prestige.

 

[UserNameNeeded]

Money does not necessarily equal prestige. Why does old money snicker at new money? Why does Hermes kick Oprah out? Why does the maker of Crystal publicly scorn hip hop stars for drinking and advertising its brand?

 

[dron000]

1st yr i-bankers will be making $120-140k include bonus next year(it is $110-120k this year). This salary is set. And they do not work 120hrs/wk, just like residents dont work 120hrs/wk(it is 80). 1st year associates make $250k(thats after mba), but we're talking about analysts. To be an i-banker, you should really do an internship during your junior year summer to see if thats something you want. And you'll only get an internship if you come from a good(ivy) school. Just like you'll only get into a medschool if you do somewhat well on mcat.

Law2doc is completely wrong when talking about how lawyers and bankers make more money than doctors. While it might have some truth with regards to bankers (if you survive the competition to get up to VP level), lawyers(and i only mention those who go to t14 and to corporate law firms) have virtually no chance to make more than doctors. And "real estate developers" is not a profession at all--you need to have money to invest it. And if a banker or a doctor puts some of his money into real estate, he suddenly becomes a "real estate developer".

There is more to prestige than money. Only uneducated women think in those terms. Educated women go for the Doctors, Astronauts, and Professors. Of course they might still be interested in actors or bankers or even lawyers, but thats because the individual might be prestigious, not his profession. Most lawyers are seen as greedy scumbags. And most senators are too dumb to even attend a t14 law school.

 

[dron000]

Money does not necessarily equal prestige. Why does old money snicker at new money? Why does Hermes kick Oprah out? Why does the maker of Crystal publicly scorn hip hop stars for drinking and advertising its brand?

that's true. and doctors pwn lawyers.

 

[dron000]

I agree that pedigree is important in I-banking. But, perhaps not always Ivy level, necessarily. Ideally, you'd do an internship in NYC at one of the large firms. Hopefully you impress them enough to be granted an interview post-graduation. Then, yes, as you stated, these guys work crazy hours doing analytical work and working on proposals/presentations and putting together an analysis on a particular project. 80 hrs is not unusual.

Then, if you want to go anywhere higher, you'll need an MBA, and from a reputable institution, because very often your clients expect that if they're to take such "young" people seriously. Sure, you can make money, but if you can't imagine enjoying the I-bankers life (i.e. the day to day functions of the job) and living in a large urban area, then I'd seriously hesitate to even think about it.

I have a cousin that was just made a VP at one of the big players on Wall Street. He now makes some great cash (min 350-500k) and will be 33 this September.

Personally, I could never see enjoying law, or I-banking....... However, I'm super happy for my cuz.

Sure, you dont have to be from an ivy to get into i-banking, but it makes it much easier. I just mentioned it so that people wouldnt say "i could be an i-banker blabla", when it's not easy to become one. And the example of your cousin is rare. Many more people go into i-banking and burn out at 25.

 

[macadamianut]

Sure, you dont have to be from an ivy to get into i-banking, but it makes it much easier. I just mentioned it so that people wouldnt say "i could be an i-banker blabla", when it's not easy to become one. And the example of your cousin is rare. Many more people go into i-banking and burn out at 25.

Ya, many of the i-banking places recruit solely from Ivies+MIT+Stanford.

Anecdotally, my friend who goes to BU didn't get a single interview.

 

[jocg27]

One of the major things we have that a hotshot banker doesn't have is security...I think that's part of what sets us apart a bit from the easy prestige of "that guy" everyone graduated college with who studied finance and is currently banking while we eat ramen noodles (everyone seems to know one...). There are some ivy grads that go into investing or whatever else and make ridiculous amounts of money and make it look easy. For a lot of those, it only lasts until the next ivy grad prodigy shows up, then being a huge i-banking stud is pretty much behind you and you're just another one in the rat race. Unlike medicine, you tend to lose respect as time goes by, not gain it. (Physicians' overall group prestige may go up and down over time, but I still believe that for most people in this country, an old-school, experienced, seen-it-all, compassionate quality doc gets as much respect as anyone. Not so for the middle aged guy at the local bank branch..)

The law is even worse...There are so many law schools, and so many lawyers, it's hard for anyone not at the top of the class at a top tier school to find a decent job.

For the most part, as long as doctors practice they can be reasonably confident they'll have a secure job that will put near near the top of American income-earners. They can live where they want, and work will be there.

 

[jocg27]

This is said a lot on SDN, but in my prior career I've actually dealt with bankruptcies of several doctors and medical practices (for reasons unrelated to litigation/medmal -- I didn't work in that area), so I can assure you there is no such guaranty. I've also met relatively few fairly smart or competant people who weren't able to earn at least a "middle-middle" class income in law or banking (and I've known many).

I'd argue this isn't due to inadequate salary or employment issues as much as simply living beyond their means, faulty investment decisions, etc. The fact is we spend so much time in science classes, the great majority of us don't learn the very very basics of money, which finance majors who go into banking learn their first semester in college. Unless there are special circumstances, if you can't be "middle-middle" class on even the minimum doctor's salary, you are doing something wrong.

Of course, most of us have a far different opinion of middle class than, say, our patients...

But anyway my point is I do think there is some level of security that's not there for the other fields, as long as you don't waste it that benefit. It's not impossible to drive a luxury car and still declare bankruptcy...

 

[Law2Doc]

Law2doc is completely wrong when talking about how lawyers and bankers make more money than doctors. While it might have some truth with regards to bankers (if you survive the competition to get up to VP level), lawyers(and i only mention those who go to t14 and to corporate law firms) have virtually no chance to make more than doctors. And "real estate developers" is not a profession at all--you need to have money to invest it. And if a banker or a doctor puts some of his money into real estate, he suddenly becomes a "real estate developer".

I actually know quite a few corporate lawyers who earn more than most doctors. Almost every equity partner at large firms in major cities do. But these positions are tough to get and depend a lot on your skills and rainmaking ability for the preceding decade. That is certainly not the average, but saying "virtuially no chance" is just not accurate. There is comparably "virtually no chance" to get into certain highly competitive and lucrative medical specialties (eg. derm).
And no, real estate developers actually needn't have money to invest -- it is a career which utilizes federal, state and local loans, development bonds, and the like. You never need to invest a penny of your own money.

 

[Law2Doc]

I'd argue this isn't due to inadequate salary or employment issues as much as simply living beyond their means, faulty investment decisions, etc. The fact is we spend so much time in science classes, the great majority of us don't learn the very very basics of money, which finance majors who go into banking learn their first semester in college. Unless there are special circumstances, if you can't be "middle-middle" class on even the minimum doctor's salary, you are doing something wrong.

Of course, most of us have a far different opinion of middle class than, say, our patients...

But anyway my point is I do think there is some level of security that's not there for the other fields, as long as you don't waste it that benefit. It's not impossible to drive a luxury car and still declare bankruptcy...

I agree with what you've written here. I just think people need to back off the "guaranteed" life and income comments, as it doesn't pan always pan out like that. Bad things can happen to good people, even doctors. Take it from someone who dealt with such people in a prior job.

 

[dron000]

I actually know quite a few corporate lawyers who earn more than most doctors. Almost every equity partner at large firms in major cities do. But these positions are tough to get and depend a lot on your skills and rainmaking ability for the preceding decade. That is certainly not the average, but saying "virtuially no chance" is just not accurate. There is comparably "virtually no chance" to get into certain highly competitive and lucrative medical specialties (eg. derm).
And no, real estate developers actually needn't have money to invest -- it is a career which utilizes federal, state and local loans, development bonds, and the like. You never need to invest a penny of your own money.

to even work at a corporate law firm, you need to be top 1/3 from t14 schools. and to become partner you need about 6 years, if you're lucky. Most corporate lawyers never become partners at those firms, it's as competitive as becoming a VP at a bank(except those guys actually make more money). and by saying that those partners make "more than most doctors" you mean more than internists. their salaries are $500k max and they work 60hrs and have only 3wks vacation. While dermatology is the most selective, it is not hard at all to get into a more lucrative specialty like radiology-you just need to do well on usmle, and it helps if you aim for that specialty by doing resaerch from the 1st year of med school. the only type of lawyer who could compete with a radiologist would be oj simpson's lawyer. once i get my m.d., i will not expect any woman to believe that some corporate lawyer is more prestigious than I.

 

[Law2Doc]

to even work at a corporate law firm, you need to be top 1/3 from t14 schools. and to become partner you need about 6 years, if you're lucky. Most corporate lawyers never become partners at those firms, it's as competitive as becoming a VP at a bank(except those guys actually make more money). and by saying that those partners make "more than most doctors" you mean more than internists. their salaries are $500k max and they work 60hrs and have only 3wks vacation. While dermatology is the most selective, it is not hard at all to get into a more lucrative specialty like radiology-you just need to do well on usmle, and it helps if you aim for that specialty by doing resaerch from the 1st year of med school. the only type of lawyer who could compete with a radiologist would be oj simpson's lawyer. once i get my m.d., i will not expect any woman to believe that some corporate lawyer is more prestigious than I.

You are inacurate. Much of what you state as facts simply arent.

 

[dron000]

You are inacurate. Much of what you state as facts simply arent.

you are a lawyer.

 

[Paws]

I think that Dron has some excellent - and truthful - points. Law2, sometimes you are way too harsh, man. Ease up a little, here.

The NYC firms will go for the top of the top schools, but they will also go for other schools like BYU, or Amherst, or any other school where someone with a strong background and a well-rounded personality will fit the bill. They want people who have done well already, show strong promise and have a decent personality. I have met people from a pretty good range of schools in these banks so while it is easier to just skim the cream from the top schools, realistically they do also interview and hire people from other places. Usually, word of mouth will get you in the door, but then after that it's up to you.

It's a hard life tho, and you're lucky if you can get through a few years and actually keep some of the money you earn. It's a rough industry that's always churning over its employees. Short life span for most people. If you can bank your $$ (and bonuses are taxed at 50%- unearned income), you can leave for a different field relatively unscathed.

 

[HTD]

There are many ways to make money. It is possible to be a practicing physician and have other sources of income. Don't be in such a hurry. Get trained in medicine, learn your craft and trade, and establish a practice. Then, use that brain to seek other ways to earn money.

 

[Diceman M.D.]

Money does not necessarily equal prestige. Why does old money snicker at new money? Why does Hermes kick Oprah out? Why does the maker of Crystal publicly scorn hip hop stars for drinking and advertising its brand?

...Because the French are, how you say, le snooty?

 

[MaxPower]

Most of the people I know who went into i-banking got burnt out within a few years. Yes you make more money but I'm not sure how much prestige there is in crunching numbers and writing proposals. Actually I know a guy who decided he would rather go to med school after 3 years of banking. I guess that isn't too bad of an idea, since he's got a ton of money saved up.

If you are interested in making money then you should go ahead and do banking (if you are in the right area) or even be a pharmacist or dentist. But if you really like medicine then do that, and don't worry about the money. You will make plenty of money to live a comfortable life (in fact I don't even worry about going into debt). I went to school in the bay area and have dozens of friends working either in computers or banking and are making tons of money. Big deal, they can pay for dinner....