Dentist Income potential

[mgh7860993]

I'm going to be an entering D1 at a private dental school this Fall. The level of debt that I'll be in has gotten me interested in learning more about income potential in general dentistry. With current trends, I am wondering if it is generally common/possible to reach a $200,000 income as a general dentist (after a certain level of experience) working for someone else for one's entire career? Not right after graduation but eventually progressing to that level? Is reaching $200,000 annual income fairly common as an experienced associate, being part of a dental group, working for a corporation? Or is this level something that can only be attained owning your own private practice? Just trying to get an idea of what can be expected in income potential for those who may not be interested in owning a practice? I am not very familiar with this type of knowledge and was wondering if anyone has any insight?

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[Screwtape]

Depending on the area and practice the answer to your question ranges from absolutely and easily attainable to challenging to attain. Probably not the most helpful answer but income in dentistry is highly variable.

 

[pikaboo]

WELL .... WELL the thing is it's really not the right time to get into a private school for dentistry at least for GD, if you will pursue some subspecialty then maybe it's worth it (because the economy is not working in your favor and private schools are basically creating a huge bubble). However, GPs can make good money well above 300k depending on how many practices, area, how good you are, marketing, and some luck. Don't expect it to come right away you might need to put 5 years of your life in a practice before huge numbers come. Just do your studying become really good at what you are doing then look for a good place to get your practice going. Good luck on your first years!

 

[mgh7860993]

WELL .... WELL the thing is it's really not the right time to get into a private school for dentistry at least for GD, if you will pursue some subspecialty then maybe it's worth it (because the economy is not working in your favor and private schools are basically creating a huge bubble). However, GPs can make good money well above 300k depending on how many practices, area, how good you are, marketing, and some luck. Don't expect it to come right away you might need to put 5 years of your life in a practice before huge numbers come. Just do your studying become really good at what you are doing then look for a good place to get your practice going. Good luck on your first years!

Would you say this 300k or even 200k is only possible if you own your own practice. Or can it be made as an asssiciate at someone else's practice or a dental corporation?

 

[pikaboo]

look ill tell you the truth dentistry has a different method of making 6 figures than in medicine. I am sure you can go into a specialty in medicine where you get a 6 figure salary. In dentistry (GP) it's mostly marketing, being social and nice to patients, as well as knowing where to buy and how to efficiently use your supplies. If you work under someone sure you can be social and nice and build a good reputation but the reality is most of the money is in the marketing and the supplies (so owning a practice). With that being said you can always find those rare places which can give you 200k and 300k for working in their offices, never encountered one myself but hey i know for a fact they are there somewhere.

 

[Steins;Gate]

Are you set on not owning a practice?

 

[mgh7860993]

Are you set on not owning a practice?

I am interested in owning a practice eventually, but am wondering if it's common to find opportunities as a non-owner general dentist that are just as rewarding financially and have the same freedom while practicing (as being an owner GD), in case I become uninterested in the hassle of owning a practice. I am just curious to see what options there are out there besides being a private practice owner, or if that is the only way to be most successful financially.

 

[Steins;Gate]

I am interested in owning a practice eventually, but am wondering if it's common to find opportunities as a non-owner general dentist that are just as rewarding financially and have the same freedom while practicing (as being an owner GD), in case I become uninterested in the hassle of owning a practice. I am just curious to see what options there are out there besides being a private practice owner, or if that is the only way to be most successful financially.

Typically the best path to highest income potential is ownership. That being said there are some associateship opportunities that are still very well paying. The issue is that someone makes a cut of your income as an associate and you do not get passive hygiene income that you would as an owner (this is usually 25-30% of a practice's production).

 

[theleatherwalle]

Typically the best path to highest income potential is ownership. That being said there are some associateship opportunities that are still very well paying. The issue is that someone makes a cut of your income as an associate and you do not get passive hygiene income that you would as an owner (this is usually 25-30% of a practice's production).

I know you're not a dentist yet, but be careful making statements like these. Hygiene can isn't always as profitable as you think.

The fastest path to those numbers you speak of is ownership. How much money you earn typically comes down to how much you produce, what you collect, and marketing.

 

[Steins;Gate]

I know you're not a dentist yet, but be careful making statements like these. Hygiene can isn't always as profitable as you think.

The fastest path to those numbers you speak of is ownership. How much money you earn typically comes down to how much you produce, what you collect, and marketing.

I never said hygiene is super profitable but it is definitely something that will add value to a practice and to one's bottom line. Hygiene actually has one of the highest overhead but preventative is much more than just hygiene. Hygiene leads to many other procedures being done.

It's not just production/collection/marketing. It's also clinical efficiency, overhead control (you can produce/collect a lot but cash flow is king), and etc. There are many practices that do minimal marketing and still do very well (it has a lot to do with local demand, patient demographic and income, visibility of office, etc.). Yes marketing is important but it doesn't necessarily have the ROI as one assumes.

 

[Steins;Gate]

So there's a bit more to being an owner. You will be able to writeoff certain expenses, and have many tax benefits. These add quite a bit of "effective" income.

I'd also say that many generalists really enjoy the passive income of hygiene - just because it's not as profitable doesn't mean it's not a perk.

 

[DDSER1]

I'd also say that the money you make as an associate depends on the location you work in, and your speed. In dentistry, if you can work fast and increase your production, you get paid more. Don't be set on working in a specific location, and be able to work fast and I think your goal is attainable

 

[theleatherwalle]

you haven't had to deal with ladies yet

 

[Steins;Gate]

you haven't had to deal with ladies yet

Ya but men can also be tricky too aha. It depends on the person moreso than tje gender