all of us are really concerned with being killed with high dental school tuition, however another question to ask would be if you didn't go to dental school what would you do, and what would the financial outcome of that decision be, then compare that with going to a high priced d-school, so let's run some numbers:
Average career is around 30 years and average general dentist salary is 150k. Let's assume you averaged that over your entire career (which assumes no salary inflation ) so after taxes around 120k.
120x30= 3.6 million and lets say school cost you 600k so 3million lifetime earnings.
Let's say you said screw it d school is too expensive I'm doing something else (I'm leaving out med bc they are in a similar position)
Most of us were biology majors so you could be a biologist
Average salary 70k - 55 after taxes so 55x 30= 1.65 million lifetime , 1.35 million less than dentist
You could go to pa or pharmacy school a -average salary around 100k so 80k after taxes 80x 30=2.4 million minus 100k for school , so 700k less than dentist
Oh but let's talk about those who go into finance -they make the big bucks, if you want money dentistry isn't for you - accountant and financial planner average 70k, 55 after taxes so same as biologist. Yes I realize you could also make millions but as someone who has a lot of family in finance there are plenty who make just enough to get by
You could be an engineer -average around 100k so similar to pa or pharm
This assumes no salary inflation which is obviously insane, and I would argue as a dentist your potential deviation from the average income far exceedes pharm or pa who all pretty much work for big corporate places or hospitals, bc you can own your own business.
You could get a loan and start a small business doing something , and potentially become the next bill gates, but you have to know 8 out of 10 fail, and if you decide to open a restaurant - 90% fail within the first five years compared to less than 5% of dental practices.
By the numbers if your career follows the average your still in pretty good shape even at a expensive school
....Of course dental therapists could take over like Isis , you could get your hand chopped off by Jamie Lannister , wife could leave you and take half your money, get hit by a meteor , but what life is worth living worrying about all that , right😉
Average career is around 30 years and average general dentist salary is 150k. Let's assume you averaged that over your entire career (which assumes no salary inflation ) so after taxes around 120k.
120x30= 3.6 million and lets say school cost you 600k so 3million lifetime earnings.
Let's say you said screw it d school is too expensive I'm doing something else (I'm leaving out med bc they are in a similar position)
Most of us were biology majors so you could be a biologist
Average salary 70k - 55 after taxes so 55x 30= 1.65 million lifetime , 1.35 million less than dentist
You could go to pa or pharmacy school a -average salary around 100k so 80k after taxes 80x 30=2.4 million minus 100k for school , so 700k less than dentist
Oh but let's talk about those who go into finance -they make the big bucks, if you want money dentistry isn't for you - accountant and financial planner average 70k, 55 after taxes so same as biologist. Yes I realize you could also make millions but as someone who has a lot of family in finance there are plenty who make just enough to get by
You could be an engineer -average around 100k so similar to pa or pharm
This assumes no salary inflation which is obviously insane, and I would argue as a dentist your potential deviation from the average income far exceedes pharm or pa who all pretty much work for big corporate places or hospitals, bc you can own your own business.
You could get a loan and start a small business doing something , and potentially become the next bill gates, but you have to know 8 out of 10 fail, and if you decide to open a restaurant - 90% fail within the first five years compared to less than 5% of dental practices.
By the numbers if your career follows the average your still in pretty good shape even at a expensive school
....Of course dental therapists could take over like Isis , you could get your hand chopped off by Jamie Lannister , wife could leave you and take half your money, get hit by a meteor , but what life is worth living worrying about all that , right😉
