45 yr old pharmacist to med school-too old ?

[Picard]

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Hello,
I am a 45 year-old hospital pharmacist who wants greater challenges (and money) and is thinking about med school. I've read all the other posts on this already, but I though I would post to see if I got any different answers due to me being in the medical field already (as opposed to a complete career change from business, etc..)

Here are the facts:

• pharmacists already make $100k right out of school, so to best this I would be thinking ortho/surgery, which I know takes longer
• Also considering non-traditional MHA, which would be done in 22 months, for ~$20k
• We all know CEO's and COO's can make bank in larger hospitals, but I wouldn't be directly involved in patient care like a surgeon would, which I would miss
• I'm 45, but in excellent health and great shape
• have a family with younger kids to consider
• just what do residents earn compared to regular surgeons ?

What do everyone think?

Let the debate begin !

 

[TwinsFan]

Cliche - if you're doing it for the money, don't.

Truth - It takes a minimum of 4 years of med school (zero pay with debt) and 5 years of residency for surgery (~50k per year) before making a large salary (~200-350k) the payoff is WAY out there if you're already making 100k.

You are 45, assuming you could apply next June with recent coursework, an MCAT, LORs and the ECs for med school and you get in, you will be 50 or older when applying for a residency. From what I have read/seen you will have a super small shot at a surgery residency at this age.

Also just getting in can be tough, even for a professional in the field like yourself.

Financially it makes little sense, go for the MHA.

If you love medicine and don't mind breaking even over the next 15 years, look into it.

 

[PharmacyStud]

I really do not think you will not make your money back, if you factor in lost pay while going to school. Truthfully, instead of being +100k every year, you're looking at -140K (100k of salary + 40k tuition(variable)). Lets not forget, your pre-reqs will probably not qualify, so you're looking at around 47 to apply. 4 years of school, and ortho surgery is 7 years, so 56?
I am not trying to be negative, but you have to take all of the above into serious consideration. You probably will not be coming out positive (if you do, won't be by much) in the money department. On the other hand, if you are not happy being a pharmacist and want to change careers, it is NEVER too late. I worked 2 years as a pharmacist before going to med school (I'm 26), and I've numerous times, I've heard fellow pharmacists and pharmacy students telling me they want to apply to medical school, only at the end to not have any result of it. It is one thing to say/dream about it, than actually WANTING it. And pharmacy is an awesome profession 🙂.

 

[isoquin]

Sounds to me like you're interested in medicine for all the wrong reasons. You'd be hard press to gain admission based on that little inconvenience alone, regardless of age.

And yes, the CEO comment does make you sound like a troll. Hedge back a bit.

 

[simondimond]

Going into medicine for money alone is just a setup for failure.

If you want to go to medical school, just focus on getting in first. The surgery and ortho part is a long ways away and not in your control just jet.

 

[deleted307836]

You're obviously considering it for all the wrong reasons, but even the financial side of the argument doesn't really come out in your favor given your age and the opportunity cost of missing out on 7+ years of a pharmacist's income.

 

[45408]

have a family with younger kids to consider
just what do residents earn compared to regular surgeons ?
What do everyone think?

Say goodbye to your family. You'll see them again in about 12 years. 😉 I'm only partly joking.

Residents earn half or less than half of what you're making now.

 

[MeowMix]

You would be headed for financial ruin, but if you feel spiritually drawn to medicine then you can look the other way for a few years. If your spouse supports you.

This is a $2,000,000 decision.
10 yrs lost income @ 100,000 (residency only pays about 50, so we'll factor in raises and call it equal)
4 yrs tuition @ 40,000 (the fees books etc easily run it up that high)
Lost return on your invested income
Lost ira matching etc
Interest on student loans, unless you pay out of pocket
Immeasurable cost to your marriage
Cost of premed course work, appications, mcat etc
Cost of having to sell house and move when you get accepted to med school in another city
Then sell house again when you match into residency in another city

If you said you had lots of money and just wanted the challenge and learning, I'd encourage you. If the goal is financial, forget it. Suppose you get into the OR and realize you hate it? Or you're a terrible surgeon?

 

[startoverat40]

money shouldn't matter either way, having it or not having it. you should not go into medicine for the money, and you should not Not go into medicine for not having it.

 

[LifeTake2]

OP, first ignore the bashing you took about money. As someone who has walked away from $100k/yr, and sold his house, and a vehicle, and cashed out a 401k there is no financial justification.

If you want to do medicine, you can do it even at 45. It will be hell for you, your wife and your kids. but it is doable it you want it bad enough.

Decide if you can be happy doing ANYTHING else, if yes then stay out of medicine. If this is what you need in life, then go for it with your eyes wide open. But you can't justify it with $$, there has to be more driving you or the pain will stop you before you get halfway there.

 

[Morsetlis]

OP, first ignore the bashing you took about money. As someone who has walked away from $100k/yr, and sold his house, and a vehicle, and cashed out a 401k there is no financial justification.

If you want to do medicine, you can do it even at 45. It will be hell for you, your wife and your kids. but it is doable it you want it bad enough.

Decide if you can be happy doing ANYTHING else, if yes then stay out of medicine. If this is what you need in life, then go for it with your eyes wide open. But you can't justify it with $$, there has to be more driving you or the pain will stop you before you get halfway there.

Dear god, 8 kids???

 

[Jasil]

OP, first ignore the bashing you took about money. As someone who has walked away from $100k/yr, and sold his house, and a vehicle, and cashed out a 401k there is no financial justification.

If you want to do medicine, you can do it even at 45. It will be hell for you, your wife and your kids. but it is doable it you want it bad enough.

Decide if you can be happy doing ANYTHING else, if yes then stay out of medicine. If this is what you need in life, then go for it with your eyes wide open. But you can't justify it with $$, there has to be more driving you or the pain will stop you before you get halfway there.

That is the truest............statement. At what cost? Is true happiness in the career or with the family? I'm not saying you can't have both, but at 45 it will require some very very hard decisions.

The hardest part for my wife is you can make all the sacrifices, make the hard choices, watch your family sacrifice for you, and then not even know if you'll get into medical school!! You don't hear about that much, but go read the reapplied section of the forum......it is a very real reality for many.

Good luck.

 

[benjee]

what about lawsuits? god forbid if that happens, it's going to be disaster for you , your family and your kids.. These days, it very common at least half of OB/GYN and surgeons will involve some kind of lawsuits one way or the other in their whole career . The specialty you are interested in belongs to high risk for litigation. Medicine has changed alot all these years . I suggest you to do more research before you change your career. There is dark side in medicine which may not worth it in your case.

 

[LifeTake2]

what about lawsuits? god forbid if that happens, it's going to be disaster for you , your family and your kids.. These days, it very common at least half of OB/GYN and surgeons will involve some kind of lawsuits one way or the other in their whole career . The specialty you are interested in belongs to high risk for litigation. Medicine has changed alot all these years . I suggest you to do more research before you change your career. There is dark side in medicine which may not worth it in your case.

Malpractice is just part of medicine in the US. It is rarely a "disaster" unless you are negligent or careless. Benjee can I assume you have decided against a career in medicine since when you get sued it will destroy your family and kids????

Not going into medicine over a fear of being sued is just ignorant. Yes it happens, but guess what pharmacists get sued too. Same for cab drivers and accountants.

 

[benjee]

Malpractice is just part of medicine in the US. It is rarely a "disaster" unless you are negligent or careless. Benjee can I assume you have decided against a career in medicine since when you get sued it will destroy your family and kids????

Not going into medicine over a fear of being sued is just ignorant. Yes it happens, but guess what pharmacists get sued too. Same for cab drivers and accountants.

Oh, no. I am not against anyone go into medicine as long as they know what they are getting themselves into. I wish all malpractice cases are black and white ( negligent or careless) but at times, it's not so and providers usually are the one to pay. going into medicine without knowing the dark side of the field is set for failure and disaster.
yeah, ppl in other careers will get sued but comparing to medical field, it's not as destructive and frequent.

 

[Dr.Tao]

money shouldn't matter either way, having it or not having it. you should not go into medicine for the money, and you should not Not go into medicine for not having it.

This!!!!

Signed a 45 year old.

 

[Alby]

I really do not think you will not make your money back, if you factor in lost pay while going to school. Truthfully, instead of being +100k every year, you're looking at -140K (100k of salary + 40k tuition(variable)). Lets not forget, your pre-reqs will probably not qualify, so you're looking at around 47 to apply. 4 years of school, and ortho surgery is 7 years, so 56?
I am not trying to be negative, but you have to take all of the above into serious consideration. You probably will not be coming out positive (if you do, won't be by much) in the money department. On the other hand, if you are not happy being a pharmacist and want to change careers, it is NEVER too late. I worked 2 years as a pharmacist before going to med school (I'm 26), and I've numerous times, I've heard fellow pharmacists and pharmacy students telling me they want to apply to medical school, only at the end to not have any result of it. It is one thing to say/dream about it, than actually WANTING it. And pharmacy is an awesome profession 🙂.

I'm going to have to agree with you. I am also a pharmacist and a med student. The one thing to remember, is that pharmacy is a great part time job (which is totally manageable in medical school if you have medical background and are good at time management).

I don't think it is bad that you are concerned about money- as it is a valid concern. I too struggled with this (I want to be sure that I can pay off my student loans). I decided that the sacrifice is worth the risk in my case (I am not married and do not have kids).

I too often hear from pharmacists that they are either considering applying or wish they had at some point. You have one life, figure out what you need to make you happy (as long as you are fully informed) and go for it, without hesitation.

Best of luck