Dentistry Vs Podiatry (Investment)

[AudiLova619]

Hello everyone,

I am currently in college and I am deciding between Dentistry and Podiatry. I have shadowed both and like both careers. My concern is which career will give a better investment? Assuming I go to private dental school and podiatry school in the East coast and don't have to dorm? I don't think I will be able to do private practice so corporate seems like the only option for dentistry instead of taking out more loans. And for podiatry, its 3 years of residency. This is an important question for me because I will be taking out loans all by myself and I have people who are depending on me. Any feedback will be greatly appreciated it.
Thanks!

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[nealofgrafton]

#1- which one would you like to do more. that's a better question.
#2- you do not have to do a residency if you are podiatrist, however if you don't do a residency you wouldn't be doing sexy surgeries.

 

[AudiLova619]

I honestly like both but for dentistry i don't like the corporate idea too much. Do dentist only have 2 options, corporate or private? Assuming you don't want to do a residency.

 

[GypsyHummus]

From a pure return on investment, assuming you like both? Unless you get into a State Dental School, Podiatry is gonna be the better return.

Let’s take a school that has both a pod school and a dental school: Midwestern University.

Tuition for the pod school is 42k/year + 1.2k for fees for the program first year only

Dental tuition is 74k/year+ 16.5k in fees all years.

Add in a modest cost of living at 20k/year

Total cost of addendance: pod school around 65-70k/year= 300k plus interest.

Total cost dental around 110k/year= 440k plus interest.


Now, we must take into account the salaries of a Dentist vs a podiatrist. In the beginning Dentist wins because they can start practice right away. Let’s say a Dentist fresh out of school takes a corporate job at 120k for 3 years before doing private practice and our podiatrist does a residency averaging 55k/ year for three years.

In those three years, after tax assuming a state tax of 3-5% (don’t move to California):

Dentist total net: around 80k/year at 240k after 3years

Pod net after 3: 42k/year at 126k after 3 years.

Now, after 3 years, the podiatrist is an attending and making a much bigger sum. This sum ranges from around 130k at low end paying private practice gigs to 400k in busy Ortho clinics. Most likely, the pod will work in a hospital making anywhere from 150k-250k. Let’s say for the sake of argument that the pod will make 200k. During this same time, our dentist has increased his income to about 160k and stays there.

Assuming 30 years of practice (we take off 3 years for residency for pod):

Dentist: 110k net/year X 30years= 3,300,000$

Podiatrist: 135k/year X 27 years = 3,650,000$

Now, just based on raw numbers alone, Pod wins out, but dentist also has astronomical debt vs the pods.


Now remember, the dentist took out about 150k extra in student loans (assuming no undergrad loans). 150k is about 11k MORE in interest/year. Plus, no public service loan forgiveness anymore. And they are capping how much you can borrow, so you might have to get a private loan at much higher rate.

 

[GypsyHummus]

Every Podiatrist is required to do a minimum 3 year foot and ankle surgical residency.

#1- which one would you like to do more. that's a better question.
#2- you do not have to do a residency if you are podiatrist, however if you don't do a residency you wouldn't be doing sexy surgeries.

 

[ncide]

I honestly like both but for dentistry i don't like the corporate idea too much. Do dentist only have 2 options, corporate or private? Assuming you don't want to do a residency.

You can work for the military or government-run clinics in underserved areas as well.

 

[AudiLova619]

You can work for the military or government-run clinics in underserved areas as well.

Is corporate dentistry bad? Do they limit your income potential? I been hearing that corporate dentistry often tries to work you like a dog. I don't really mind this, but will the salary increase in corporate? I live in a saturated area.

 

[GypsyHummus]

I would agree to a point, however, hospital jobs are becoming more prevalent, and most pods are going that route. Those usually pay around 200K-220K. Private practice is phasing out. Hospitals realize that podiatry is very procedure based and can refer out to diff departments (PT, X-ray, Labs, etc.) and make a whole lot of $$.

Ortho Jobs are prolly the 5% of jobs out there and pay the 400K+ range. I would not expect the average pod to make that though.

OP, take a look at the podiatry resident forums and look at the pay structures if you are curious about salary. Things are starting to look up for pods, although that can change in the very near future, as they are lifting the cap on class size and not expanding residencies. I would get in now before schools smell tuition money in the water and really increase class size. It is not too late to apply if your interested, and if you are interested, I would do so before the schools go wild with increasing class size and not having enough residencies for everyone.

120K-130K is usually bottom of the barrel for Podiatrists after a 3 year residency, and ussually at a Private practice office that takes advantage of new pods. Keep in mind the statistics on the BLS include resident, fellowship, and practicing pods (both full and part time) salaries, so the average will naturally be lower.

Hospitals and Ortho clinics make up a tiny portion of Podiatry jobs available after graduation. You're more likely to make ~120k-130k in private practice i.e. similar to a retail RPh/OD/Dentist.

 

[AudiLova619]

This isn't unique to Podiatry and applies to all private practice owners whether you're MD/DO/DDS.

The Pod practices that are taking advantage of you pays you in the 70k-80k range. 120k-130k is what you'll be making on average uniformly as a private practice associate. You don't have to believe me if you don't want.

Most of what you're saying is projection/hope and doesn't apply to the current Podiatry job market. Ortho/hospitals currently make up a TINY portion of podiatry jobs. Yes it can change in the future, but for the future applicants, they need to know what they're getting themselves into considering that it's a 7 year commitment.

Currently, the norm is to get a private practice position and make in the 120k-130k/year range after adding commission. In other words, it's MUCH more likely that you'll make in this range after graduating 7 years from now, than in the 200k range.

but if we look at both careers as investments, (dental and podiatry) is podiatry better because its less debt and same salary?

 

[GypsyHummus]

I just did a whole big long calculation. Adjust the numbers as you see fit.

but if we look at both careers as investments, (dental and podiatry) is podiatry better because its less debt and same salary?

 

[GypsyHummus]

Look at the Pod forums. A majority of the posts are making much more than that.

This isn't unique to Podiatry and applies to all private practice owners whether you're MD/DO/DDS.

The Pod practices that are taking advantage of you pays you in the 70k-80k range. 120k-130k is what you'll be making on average uniformly as a private practice associate. You don't have to believe me if you don't want.

Most of what you're saying is projection/hope and doesn't apply to the current Podiatry job market. Ortho/hospitals currently make up a TINY portion of podiatry jobs. Yes it can change in the future, but for the future applicants, they need to know what they're getting themselves into considering that it's a 7 year commitment.

Currently, the norm is to get a private practice position and make in the 120k-130k/year range after adding commission. In other words, it's MUCH more likely that you'll make in this range after graduating 7 years from now, than in the 200k range.

 

[Prehealth1011]

Look at the Pod forums. A majority of the posts are making much more than that.

And they all either had to create the position themselves or admitted that the quality of jobs salary wise are sparse compared to MD/DO.

 

[AudiLova619]

I would agree to a point, however, hospital jobs are becoming more prevalent, and most pods are going that route. Those usually pay around 200K-220K. Private practice is phasing out. Hospitals realize that podiatry is very procedure based and can refer out to diff departments (PT, X-ray, Labs, etc.) and make a whole lot of $$.

Ortho Jobs are prolly the 5% of jobs out there and pay the 400K+ range. I would not expect the average pod to make that though.

OP, take a look at the podiatry resident forums and look at the pay structures if you are curious about salary. Things are starting to look up for pods, although that can change in the very near future, as they are lifting the cap on class size and not expanding residencies. I would get in now before schools smell tuition money in the water and really increase class size. It is not too late to apply if your interested, and if you are interested, I would do so before the schools go wild with increasing class size and not having enough residencies for everyone.

120K-130K is usually bottom of the barrel for Podiatrists after a 3 year residency, and ussually at a Private practice office that takes advantage of new pods. Keep in mind the statistics on the BLS include resident, fellowship, and practicing pods (both full and part time) salaries, so the average will naturally be lower.

I saw that application numbers were down for podiatry, why would schools increase their class size? even if they do would that have a major impact on the number of residencies right away or would that take a couple of years?

 

[GypsyHummus]

It would take 4 years

I saw that application numbers were down for podiatry, why would schools increase their class size? even if they do would that have a major impact on the number of residencies right away or would that take a couple of years?

 

[AudiLova619]

is it ok to say that dentists and podiatrists make the same? recent grads who work in NYC. (Around 120- 130k)

 

[321931]

is it ok to say that dentists and podiatrists make the same? recent grads who work in NYC. (Around 120- 130k)

Aside from the back breaking work...working in close quarters...dealing with insurance...patients....whatever...

I dunno, I think if podiatry offers a similar amount of income...work hours... but LESS laborious close proximity work...then I say go for it. It gets old working in the mouth.

 

[Localnative]

Hello everyone,

I am currently in college and I am deciding between Dentistry and Podiatry. I have shadowed both and like both careers. My concern is which career will give a better investment? Assuming I go to private dental school and podiatry school in the East coast and don't have to dorm? I don't think I will be able to do private practice so corporate seems like the only option for dentistry instead of taking out more loans. And for podiatry, its 3 years of residency. This is an important question for me because I will be taking out loans all by myself and I have people who are depending on me. Any feedback will be greatly appreciated it.
Thanks!

Here's an easy way to choose between the two. Throw income potential, student loan debt, lifestyle as a student, all logic, etc. out the window.

1.) Search YouTube for each of the following:

a.) Infection of the oral cavity
b.) Infection of the foot

From each category, pick the video with the most graphic, nausea inducing subject matter you can dredge up.

2.) Purchase a set of guarded, self retaining eye speculums (left and right) from Alibaba. Of course inspect for rust or old heme... You never know what offshore e-commerce sites are hocking these days.

3.) Gently position the above and sit in front of your laptop screen. Watch each video for one hour, alternating videos for 24 hours straight. (to understand the ramifications of this, read the appropriate chapter in Anthony Burgess' crowning achievement)

4.) The video that makes you go mad first is the obvious loser.

5.) You've made your selection.

M

 

[Typical Average Student]

I feel it's pretty easy to make this decision.... would you rather work with teeth or feet?