Hey everybody,
Appreciate all the info here, looking for some opinions. I myself am debating between the PA vs MD/DO route.. I just graduated with a BS in Biology, 3.84 gpa, lots of research experience, volunteering, shadowing, etc, but am very hesitant toward pursuing medical school for financial and (most importantly) lifestyle reasons. I know for sure I do not want to become a surgeon. Although I really don't know which particular specialty I would like to go into, primary care does seem very attractive to me due to sheer breadth of knowledge, however I'm struggling to see how becoming a PCP would have any major advantage to becoming a PA (except for status/respect issues obviously, not to underestimate this, but in the grand scheme of things, setting aside one's ego and being humble for the sake of life balance and sanity seems more in line with my values in life (family, relationships)). Either way, my entire education and living expenses, everything, will be paid for through loans. With the MD/DO route, I'd be looking at at least 250k-300k in debt. With Federal loan interests rates now at 6.8%, the interest on these loans will be tremendous by the time med school and residency are over. By this time I will be in my early 30's with no money saved or invested, no assets, etc. Even more, the opportunity cost of these 7+ years of lost income would put me at an even greater disadvantage. With the PA route, I'd be looking at 80-95k of debt, and be done in 2-2.5 years, start out making ~75-80k and gradually work my way up to ~90-95k (more if I get into specialties like derm, or as a surgical PA, (I would consider being a surgical PA over an MD surgeon because of the no need to go through a grueling 7+ year residency and could have the flexibility to switch out of that whenever I wanted after making that extra $, just an option). Anyway, by starting making PA money at least 5 years earlier, plus the ~200k less in student loans, I feel like that may put me at a better advantage financially than becoming a primary care MD, where I may only earn ~130-150k/yr, and be able to do virtually everything the PCP can do. Because of this debt +interest and years of lost income, does anyone see the real advantage of going through med school to become a PCP? (the time saved by becoming a PA I could be saving, contributing to my retirement, 401k, saving for kids college, starting my life financially, and still basically practicing full-fledged primary care). What do you guys think about this? Appreciate all the advice folks.
Appreciate all the info here, looking for some opinions. I myself am debating between the PA vs MD/DO route.. I just graduated with a BS in Biology, 3.84 gpa, lots of research experience, volunteering, shadowing, etc, but am very hesitant toward pursuing medical school for financial and (most importantly) lifestyle reasons. I know for sure I do not want to become a surgeon. Although I really don't know which particular specialty I would like to go into, primary care does seem very attractive to me due to sheer breadth of knowledge, however I'm struggling to see how becoming a PCP would have any major advantage to becoming a PA (except for status/respect issues obviously, not to underestimate this, but in the grand scheme of things, setting aside one's ego and being humble for the sake of life balance and sanity seems more in line with my values in life (family, relationships)). Either way, my entire education and living expenses, everything, will be paid for through loans. With the MD/DO route, I'd be looking at at least 250k-300k in debt. With Federal loan interests rates now at 6.8%, the interest on these loans will be tremendous by the time med school and residency are over. By this time I will be in my early 30's with no money saved or invested, no assets, etc. Even more, the opportunity cost of these 7+ years of lost income would put me at an even greater disadvantage. With the PA route, I'd be looking at 80-95k of debt, and be done in 2-2.5 years, start out making ~75-80k and gradually work my way up to ~90-95k (more if I get into specialties like derm, or as a surgical PA, (I would consider being a surgical PA over an MD surgeon because of the no need to go through a grueling 7+ year residency and could have the flexibility to switch out of that whenever I wanted after making that extra $, just an option). Anyway, by starting making PA money at least 5 years earlier, plus the ~200k less in student loans, I feel like that may put me at a better advantage financially than becoming a primary care MD, where I may only earn ~130-150k/yr, and be able to do virtually everything the PCP can do. Because of this debt +interest and years of lost income, does anyone see the real advantage of going through med school to become a PCP? (the time saved by becoming a PA I could be saving, contributing to my retirement, 401k, saving for kids college, starting my life financially, and still basically practicing full-fledged primary care). What do you guys think about this? Appreciate all the advice folks.