Curious what Jobs and Salaries Did you give up for med school

There's was nothing extraordinary about my income or job which played a role in my decision to attend med school. Obviously going from MAKING money to pulling out enormous loans is a bit of a shock, and my loans don't come anywhere near my previous salary (after tuition is paid). But the difference isn't so huge that it ever really factored in to my decision making.

As far as how we're adjusting financially, we did pay off some debt and I will defer my undergrad/grad student loans (so one less monthly payment). I am married, so that does help alot. But if I were still single I would just downsize . . . smaller apartment, roman noodles, etc. We also realize that we won't be able to afford the social life and financial freedoms we used to. So no movies, dinners out, frivelous purchases, etc. You get the idea.

Team Leader/Project Management job in Pharma...is what I'm looking to give up...It's not so much the 60K or so that will hurt...it's the pension, the sweet 401K deal, and the unbelievable benefits that will hurt.

My wife works for a hospital, and they might as well not even have benefits compared to what I get.

I'll be giving up...

A position in network security. Pay is near 6 figures, I have 6 weeks vacation, and it has good benefits and a pension plan + 401k. I'm definitely going to have to re-adjust when I go to being a pauper in a few years.

Web application developer with a salary around 50K.


Motivation? I love the problem solving however, I hate sitting on my butt staring at a computer screen all day. I realized this when I actually started looking forward to customers calling to tell me something was broken.


That it totally an oversimplification because 9/11, the Tsumani in Indian ocean and all kinds of other factors went into it, but the simple fact is that I need to be digging out the causes and finding the solutions of people problems, and dealing with the impersonal world of computers all day.

Lawyer 140K

Uh, Hospice RN, Nurse manager around 50 to 60K a year.

But I will renew my RN Lic forever! LOL

How's it go RNMD or MDRN LOL ( just kidding MD when I get it).

MD2b20004 said:

Curious what Jobs and Salaries Did you give up for med school. What was the motivation, and how did you deal with it financially. What were your backgrounds and what kind of salaries did you sacrifice for medicine.

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If I get in this cycle, Engineer, ~125k base, ~10k bonus, +stock options (highly variable, but paid off big time during the 1999-2000 high-tech boom.)

EDIT: Reading windycitycassie's post made me remember that I also have 5 weeks of vacation. Yeah, that will hurt to give up.

Dang...you guys are making bank. I'm in an academic/research position (biomedical engineer) and last year I got...drum roll please...16k. I won't be making much of a salary sacrifice obviously, but I will go into debt for the first time.

My background is in engineering (see profile below), and it wasn't until I got a job working as a cancer researcher was I exposed to a career as a MD. Now, I had thought about it before, but it was only after working for a pulmonologist (who told me to never specialize in an organ that can be replaced) did I really consider it and explore my options.

I like doing procedures, having an immediate effect on people's lives, and problem-solving. The human component of medical problems (what do mean, Mr. Smith doesn't want to take his cholesterol medicine?) is always interesting and challenging. That, and ortho guys get to use some of the coolest tools in the world.

Organic chemistry post doc. About $30,000-$35,000 per year depending on the prof. Up till this point I was a student on a stipend of $19,000, so it's hard to miss a big salary that you've never had.

QofQuimica said:

Organic chemistry post doc. About $30,000-$35,000 per year depending on the prof. Up till this point I was a student on a stipend of $19,000, so it's hard to miss a big salary that you've never had.

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Software team lead. Made 112K last year, gave up stock options worth about 50K, a nice 401k plan with an excellent match. I already quit to go to school FT. The hard part is done (i.e, untangling myself from these things) You see, I won't be making a lot more as a doctor But I will have a lot more fun.

Panda Bear said:

Self employed structural engineer. About 70K net after all the higgly-piggley things associated with running an engineering consulting firm.

And boy, do I miss it. Welll, I miss not being in debt, having money, and not living on the knife-edge of solvency as we are now. Don't get me wrong, I'm thrilled to be starting my new residency but this move is going to be a hard one and things are worse than tight.

Let's face it. Residency salaries are a joke. Nothing to be done but tighten the belt and try to minimize expenses. We'll be living on credit cards in a year. My wife may have to get a job although the economics of this are problematic as we'll probably spend as much on day care and other expenses then she could make working at some crappy job.

I read all of those threads by our idealistic younger colleagues about how medicine is a calling and they'd be happy to do it for "$50,000" a year. They are so full of **** that their eyes are brown. I cannot imagine my wife going through all of this for only 10K more than I am making as a resident.

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Although I'm not doing soley for the money, I am counting on good money to pay for my expensinces, home and retirement. So yea I wouldn't so it if I was not going to Make some $$$$$ cause there has to be a balance here!

If I was doing this for money, I would stay where I'm at...odds are in 8-10 years, I'll be making about 100K or a little more if I stick with it...problem is, I already can't stand it...and would pretty much rather do anything else..

Now, I'm not saying I don't want to make money as a doctor, but as long as I can have the comfort I currently have while paying off my student loans I will add on, I think/hope I will be happy.

Television news reporter/weekend anchor. When I turned in my notice, my boss offered me the nightly 6 p.m. anchor slot. My parents are still questioning my decision to turn it down.

I wasn't making nearly as much as some of you though!

Paramedic making 38k to 50k per year depending on OT. I'm an adventurous person so going from a stable job (that I do enjoy alot) to uncertainty is much more fun and challenging for me. Hope it is for everyone else.

Up until Sept 11, 2001 I was a senior project manager for IBM. Salary was around $150K plus benefits.

Then, I was recalled to active duty in the Air Force. I had been retired. Pay was around $85K with the various special pays and allowances.

After I retired (again) I discovered that my project had finished, my group had been downsized, and my division was threatened with downsizing...IBM gave me the option of looking for another IBM job (for 90 days), but all the jobs had already been found.

So, in looking for another position I decided to do what I should have done in the first place. Two years (more or less) later I was in medical school.

I've still got 3 years left of undergrad - but in order to go full time I "gave up" my oh-so-lucrative and fulfilling position of personal secretary/administrative assistant. *note sarcasm* I made around $20,000 a year, and a little part of me died inside every day of work. Sure, I'll be so far in debt by the time I finish my schooling that it will take years to pay off, but I'll never again have to endure hearing an dingus boss say that I'm not smart enough to balence his checkbook in Quicken. Erm, perhaps I'm still a little bit bitter about my last job, but I am sooooo very happy that I'm finally pursuing my educational and professional dreams

oldpro said:

Uh, Hospice RN, Nurse manager around 50 to 60K a year.

But I will renew my RN Lic forever! LOL

How's it go RNMD or MDRN LOL ( just kidding MD when I get it).

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right there with ya, Hem/Onc, Infectious Disease RN but my salary is less. i hope to go to med school if i can get through this damn MCAT exam

as a stay-at-home mom i make $0. as a grad student i made $12,000/year, my peeak salary. my husband gets no benefits etc (architect) so we're ecstatic just at the thought of residency salary

Well, if everything works out and I make it in for Fall 08, I will be leaving the fire service as a Fire Engineer/Paramedic with 10 years in (only need 20 to retire at 50%). As a Fire Engineer in AZ, we are the fire truck drivers and boy is it a fun job. I will be leaving a fantastic 457 (like a 401K). I will also be leaving approx $70,000/year working every third day 24 hours on/48 hours off. Most of my friends think I'm crazy, however, I feel that going on to become a doctor is the most exciting journey of my life yet.

I was in sales and made b/t 75-100k over the past 6 yrs. Had some nice fringe benefits as well, like car and cell phone coverage etc etc. Most of my savings went into my 401k, which is a mixed blessing in a way. In a sense, it's prevented me from touching the money (penalties/taxes). On the other hand, even after I sold my home, I don't have a ton of liquid assets at this point (getting killed on APPL and PGNX...lol Buy high, sell low?????). So, I'm still faced with the same amount of loans as the average med student that's going it alone.

Fire2Doc said:

Most of my friends think I'm crazy, however, I feel that going on to become a doctor is the most exciting journey of my life yet.

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I agree 100%! It's the journey.

Gabby said:

Television news reporter/weekend anchor. When I turned in my notice, my boss offered me the nightly 6 p.m. anchor slot. My parents are still questioning my decision to turn it down.

I wasn't making nearly as much as some of you though!

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Now there's a job I rarely see in the forums. Must have been exciting.

Panda Bear said:

I read all of those threads by our idealistic younger colleagues about how medicine is a calling and they'd be happy to do it for "$50,000" a year. They are so full of **** that their eyes are brown. I cannot imagine my wife going through all of this for only 10K more than I am making as a resident.

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Well, but you have to remember that most of them don't have stay-at-home spouses and children to support like you do. Nor have they taken out six figure amounts of loans to buy houses or pay for med school (yet). For a young single person with little or no debt, $50,000 *is* a more than adequate (not great, but definitely adequate) salary. I think that part of the issue here is that college students cannot fathom what it's like to be in their 40s and married with a family to support and a mortgage to pay on a resident's salary. The other part of it is that you have forgotten what it's like to be 20 and not have any responsibility at all besides thinking about how you are going to come up with your beer money for that night.

etudiante04 said:

Now there's a job I rarely see in the forums. Must have been exciting.

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Thanks! I enjoyed it, for the most part!

internetwop said:

right there with ya, Hem/Onc, Infectious Disease RN but my salary is less. i hope to go to med school if i can get through this damn MCAT exam

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Good Luck I'm taking the first exams of this semester

Yea Physio Kick my butt

MD2b20004 said:

Curious what Jobs and Salaries Did you give up for med school. What was the motivation, and how did you deal with it financially. What were your backgrounds and what kind of salaries did you sacrifice for medicine.

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Air Force captain, let's say $60,000/yr (varies depending on where you live, etc.)

Don't let me kid you, I was going to get out of there anyway, my career field was an intellectual dead end of the worst sort. Now I'm a grad student making $23k (in Boston, that's not much). Fortunately I saved $$ while I was on active duty.

Airline pilot...around 120k at its peak, but that was down to about 80k after the bankruptcies started happening after 2001.

The time off was nice. The rest of it sucked...I'm happy to be done with it.

Oldie

QofQuimica said:

For a young single person with little or no debt, $50,000 *is* a more than adequate (not great, but definitely adequate) salary...The other part of it is that you have forgotten what it's like to be 20 and not have any responsibility at all besides thinking about how you are going to come up with your beer money for that night.

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Mmm...beer money...I remember when that WAS my only concern!

The kids saying that they'd do it for nothing are idealists, and that's ok. They have no idea what it means to be in the real world. Heck, I have no idea what it means to be in the real world. But it IS a pain to see my buddies from ugrad get 50k-60k/yr right out of the gate (~3x what I make, remember).

Intellectual property manager for a science company, about 75K, 4 wks of vacation, 401K, stock options, and 7-5 schedule with weekends off. Actually, this job is(was) my first after grad school.

To the above posters that mentioned how 50K is a lot for a 22 y.o soon-to-be M1, I agree in that in going from research/grad school in ochem (16K/yr)one day to defending my thesis and then starting a 75K/ yr job the next week, it was all overwhelming!

Although the past year has been great material-wise (bought a home, saved a ton of money, travel, etc.) I'm looking forward to trading in long hours of reading patents, invention disclosures, writing grants, etc for long hours of studying

Assistant Professor, Stanford.

QofQuimica said:

I think that part of the issue here is that college students cannot fathom what it's like to be in their 40s and married with a family to support and a mortgage to pay on a resident's salary.

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Well, I'm married with four kids to support, and resident's salary is still more than I'm making now with my newly minted masters degree. Hubby and I have never made even close to 100K per year, and we've managed just fine. I think it can be done, depending on where you live and your individual situation.

In answer to original question: Health Inspector, 33K

1

~47K a year as a Child Development Specialist for the State Health Division, 3 weeks vacation/yr., yearly raises+ cost of living (and I was gonna get one this July too, darn), great benefits. My official title is a Developmental Specialist III, with an option for me to climb up to a DS IV had I not quit my position. I basically provide intervention for children with disabilities and are medically fragile, premature, etc. that are from birth to three years of age. I love my job, but I want to do more than educating children and their families.

Quit my state position to work part-time as a contractor with the state doing almost the same thing but with less responsibility, lower pay, few paid holidays, and not-so-great insurance. (Luckily, my husband's insurance is comparable, so now I'm under his.) I am basically in the same rank as the interns I used to supervise. People at work think I'm crazy for going "backwards." My first paycheck as a part-timer was painful, it was like looking at my mileage reimbursement each month. The best part about it is that now I'm free to pick my schedule as long as I put my hours in, so that I can sign up for classes during the day (and no longer have to go to school from 5-10 pm after an 8 hr work day!) I was also able to have time to do research and other volunteer activities. And also, I did really well in my science classes this sem and actually *learned* the material by heart (and not just did well on the exams by cramming like I used to.) These made the paycut justifiable and worthwhile for me. The paycut was also my driving force - I kept telling myself that if I didn't do well in my classes, I should've just kept my full-time job since my goal in cutting back on work was to get good grades.

In the end, these sacrifices we make as non-trads will be sooo worth it. My husband and I's mantra: "It's simply a matter of DELAYED GRATIFICATION!" Keep pushing, non-trads!

I'm a professional musician....what's a salary?!?

Another Airline Pilot here. I was at "regional" carrier (dba United Express) making about 40 - 45K.

Travel benefits were nice, the job was very low-stress and gratifying (instantly), there was very little "take home". I loved it. Had I stayed with it and managed to get a job at a major airline (Fedex or Southwest or Continental, etc...esp. FedEx), I could have ultimately made in the neighborhood of 200K. But I didn't like the long trips, the union BS, or the strict adherence to a Seniority system.

Can't wait to be a doc (probably a surgeon).

I'll be giving up the full gig of stay at home parenting soon, I am returning to part-time work and in the fall part-time school to finish my bachelors. Part-time SAH parenting, part-time phlebotomist, part-time school, wheeee. Now if I could clone myself times two I would be set.

We've been poor for so long, at first glance $50K seems like a lot of money, but I know better. $50K for someone with no obligations is excellent, and I have yet to meet a physician who has no obligations.

My compensation for the year 2005 was about $2.2 million.

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I think I'd be "retiring" and going to school as a "hobby".

.

QofQuimica said:

Well, but you have to remember that most of them don't have stay-at-home spouses and children to support like you do. Nor have they taken out six figure amounts of loans to buy houses or pay for med school (yet). For a young single person with little or no debt, $50,000 *is* a more than adequate (not great, but definitely adequate) salary. I think that part of the issue here is that college students cannot fathom what it's like to be in their 40s and married with a family to support and a mortgage to pay on a resident's salary. The other part of it is that you have forgotten what it's like to be 20 and not have any responsibility at all besides thinking about how you are going to come up with your beer money for that night.

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I agree. When I finished college a few years ago, I was thrilled to get a job making $35,000. It was more than enough. I do understand Panda Bear's point; I certainly wouldn't want to raise a family on 50K/year, especially if I'm committing 10+ years to education and training. But then again, I'm not one of those selfless kids who say they'd go through all the training needed to become a doctor even if they had to work for free. Screw that.

Journalist ... I was on a $25K fellowship when "the call" came. Don't know what I'd be making now ... I guess I'd be embedded somewhere hot and dusty ...

Clinical social worker/therapist. Currently self-employed (private practice) with some supplemental hospital work on a PRN basis. Last full-time employment was low- to mid-40s with benefits that were for crap, especially compared to what I'm seeing here!

Self-employment= variable income (clients don't come in, I don't make a thing). Started it last year, so the income was down quite a bit- should have a better showing this year. Health insurance is through my post-bacc institution and much cheaper than a private plan. Technically I have 365 vacation and sick days available to me, it's just that none of them are paid.

I do love the flexibility, though. It makes it so much easier to schedule classes, and I can adjust my work schedule at my discretion.

MJB said:

I think I'd be "retiring" and going to school as a "hobby".

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I feel you man!!!! Was thinking the exact same thing. And I'm sure he's an expert on investing and living large off the interest.

Was an LVN for 5 years all thru undergrad. Worked part time and made anywhere from $12-24k. Got my RN, made 52k first year and 35k second year. But I only worked for 7 months the second year then started medical school. Buy those were a good 18 months of living well. I'm sure I'd be making about 60k if I was still working.

CremasterFlash said:

I was a bond trader (flow and prop, for any other reformed MBAs out there). My compensation for the year 2005 was about $2.2 million.

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Forget med school I want to be a bond trader!

remo said:

Forget med school I want to be a bond trader!

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Read "Liar's Poker" for an awesome story about bond trading (back in the early '80s)

CremasterFlash said:

My compensation for the year 2005 was about $2.2 million.

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Guess you won't be taking out loans for school, eh? You the man.

Well I'm a computer systems engineer working on ASIC/FPGA design. Just got promoted (3 years worth of experience). Should I get in this year I'd be leaving behind 65k, great 401k, great benefits, 3 weeks of vacation and a really exciting job. Infact if I were looking for another position instead of applying to med school I'm sure I could negotiate another 15k (not because i'm anything special but because theres reasonable demand for such work). Anyway I look at my current job as a means to an end and not an end in it self.