Dentists hit hard by economic recession

[spearmint]

Are any of you guys worried about the future of dentistry during this economic crisis? In the past, I was encouraged by others that dentistry is a good field to go into because it is basically recession proof, but it seems like a lot of practices are having trouble staying afloat these days. And who knows how long this recession is going to last?

It seems that out of all the major health professions, dentists are taking one of the biggest hit. A lot of patients are choosing not to do elective procedures or stop going to the dentists altogether, which of course affects the revenue. I live in CA and find it unsettling that out of all the medical programs, the government is completely eliminating Denti-cal (Medicaid that covers dental treatments for low-income ppl) starting July 1, 2009. I'm sure this is going to affect most of the CA dental schools, since a large percentage of their patients rely on government assistance. This just shows the general public's view on dentistry...that basically, it's something that is not really necessary.

My family is urging me to switch to another health profession, like pharmacy, that is not as affected by the recession. My cousin who is a new-ish pharmacist is making 6 figures even during this crisis and says that pharmacy is probably one of the most recession proof field. I guess if you need life saving drugs to survive, you're gonna pay for it no matter what, right?

So now I'm at a crossroads. Going into dentistry is a HUGE commitment...time and money wise. I don't want to graduate with a $300,000+ debt and not be able to pay it off or make a good living. It seems like this recession may be a long, drawn out matter.

So, how do you guys feel about the future of dentists during the next few recession years?

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[Vicviper]

In talking with some experienced dentists about this, they've said that the dentists who are going under are the ones who primarily marketed themselves as cosmetic dentists, or who opened up dental spas, or dentists who opened new practices in heavily saturated areas, ie, hearts of the major cities / suburbs . Around me there's a dentist on every street corner - literally. I've been hearing if you move out to some of the newer suburbs and developing areas (although development has definitely slowed for now), there are still plenty of patients.

Also, you've got at least 4 years to go before looking for a job, and within 4 years we'll be out of this slump, so you've got a lot less to worry about than someone graduating this year.

As far as switching professions, and this is my opinion, and no offense to anyone going Pharm, I don't think I could stand being a Pharmacist, it has no appeal to me whatsoever, and seems incredibly boring - and that just wouldn't be worth the money and safety to me. If you'd rather do that, more power to you.

 

[spearmint]

Hey Vicviper,

Thanks for your response. I really hope you're right and that the economy will kick back up in 4 years. Maybe I hang around with a bunch of pessimists, but I've been hearing that it's going to take much longer than that before we even begin to crawl out of this slump.

However, you do bring up a good point about choosing professions, which made me think really hard about what I really want in the "big picture" of my life. I know some ppl enter dentistry mainly because of its high earning potential, which is fine I guess. However, if this is really the main reason then they may be pretty disappointed during times like this, in which case pharmacy may be the safer bet. I guess you really have to ask what kind of life you want and what's more important to you (BTW, I mean the rhetorical you, not you Vicviper specifically). I know pharmacy seems like a pretty boring job, but my cousin is loving it because it's given her the means to afford her luxuries (she bought a new house and a BMW ) and is relatively low stress. I don't mean to make it seem like pharmacy is a piece of cake , but there is the advantage of not having to worry about the responsibilities of being a business owner and taking care of everything like dentistry.

It definitely made me think about what's more important to me: money or personal satisfaction of doing something you want?

 

[carbide]

In terms of money and lifestyle i think that dentistry is still the better gig...plus you do not have to be an owner dentist (although you make more $ that way...eventually) Working for a dental corp, as an assoc., or in a community clinic, the average salary is still likely more than avg. pharm. Debt wise I don't know how pharm is. Plus is pharm 3 or 4 yrs? If only 3 yrs then you have a whole extra year of salary.

 

[Lurchdubious]

Look on the bright side: If lots of people are opting out of dental work now, It will take a couple years before their "Little" problems will turn into some good revenue down the road .

I'm more worried about the damage being done by the current "Obamanation" than I am about the recession.

 

[NAVY DDS 2010]

My family is urging me to switch to another health profession, like pharmacy, that is not as affected by the recession. My cousin who is a new-ish pharmacist is making 6 figures even during this crisis and says that pharmacy is probably one of the most recession proof field. I guess if you need life saving drugs to survive, you're gonna pay for it no matter what, right?


So, how do you guys feel about the future of dentists during the next few recession years?

Pharmacsts - they are not recession proof. Pharmacies are closing too due to the status of the economy. Now, there are still plenty of job openings, but still there are pharmacists out there that are looking for jobs. But I don't think they are in a much better postion financially than dentists during the recession. My wife is a pharmacist, so I am familiar with the status of the profession. In dentistry, there will always be extractions to be performed. There will always be root canals to be cleaned. There will always be crowns that need prepped. There will always be complete or partial dentures that are needed.

More dentists are retiring each year than dentists are graduating. So, with the US population growing, there is definitely going to be work available. People may have to work a little harder and a few more hours per week to compensate for the lack of bells and whistles dentistry. Overall, the potential to make a very solid income is and will still be there.

 

[mms0039]

Believe it or not, I think that getting rid of dentical program for dental is pretty good. I work in dental office where we normally screen pt every week for dentical. Some pt showed up with S500. I mean one pt asked us why the insurance is not approving implant for his mom and he drives a 650. I have to control myself from not laughing. It just gets to my guts. Really annoying. During this time, I think it is the best to focus and try to be the best at what you do.

 

[gd152]

Browse around the forums. You will find quite a few other doctors are hurting right now - EM, pathology, derm, plastic surgery, optho, etc.

 

[gd152]

Browse around the forums. You will find quite a few other doctors are hurting right now - EM, pathology, derm, plastic surgery, optho, etc.

 

[gd152]

Browse around the forums. You will find quite a few other doctors are hurting right now - EM, pathology, derm, plastic surgery, optho, etc. Many doctors have been laid off as well.

 

[gd152]

Browse around the forums. You will find quite a few other doctors are hurting right now - EM, pathology, derm, plastic surgery, optho, etc. Many doctors have been laid off as well.

 

[gd152]

Browse around the forums. You will find quite a few other doctors are hurting right now - EM, pathology, derm, plastic surgery, optho, etc. Many doctors have been laid off as well.

 

[gd152]

Browse around the forums. You will find quite a few other doctors are hurting right now - EM, pathology, derm, plastic surgery, optho, etc. Many doctors have been laid off as well.

Pharmacists... they have it pretty good right now. But I bet that 20-30 years from now the major corporations (Wal-Mart, Target, etc.) will put pressure on the government to cut costs and eliminate them. I bet Wal-Mart alone pays several billion dollars a year to pharmacists right now. Think of the savings. I know, wild theory, but completely possible with today's technology.

 

[Shingo123]

The economy is really not something that you will be able to predict 4+ years in advance.

Job demand is a little more predictable and dentistry looks fine in that respect.

In most cases you would be mistaken if you think Pharmacy is financially a better field to go into.


Pharmacy also has the potential to become over flooded with many new schools opening up, the future for pharmacy is not as amazing as it once looked, albeit still quite nice.

 

[beeho]

I definitely don't think being a dentist is recession proof. From my experience, people will give up dental insurance more easily than other necessities.

 

[spearmint]

The economy is really not something that you will be able to predict 4+ years in advance.

I agree.

Job demand is a little more predictable and dentistry looks fine in that respect.

I'm not so sure about this. I guess this really depends on where you want to live and practice. From reading the dental forum, it seems that a lot of recent dental grads are having a really hard time getting a job in CA or in the east coast. I feel bad for these guys who are facing a huge debt and bills to pay but can't find a job to do so. One could argue that they should seek work in a rural area, where they may have a better chance. Personally, I would like to stay near a big city. There are just more things to do. This economy is going to force a lot of dental grads to take whatever they can get, which may not be the best deal or suitable for them.

In most cases you would be mistaken if you think Pharmacy is financially a better field to go into.


Pharmacy also has the potential to become over flooded with many new schools opening up, the future for pharmacy is not as amazing as it once looked, albeit still quite nice.

True. Pharmacy's bubble will probably burst too eventually (I don't know when). But right now, they still have it pretty good. The economy is affecting pretty much all the health professions to some degree, but I still think dentistry and other "elastic" professions are getting hit the most. Like Beeho says, ppl are more likely to forgo their dental insurance (and keep their medical) if necessary.

 

[alanan84]

Keep in mind that dentists can adjust their fees to minimize the effect of a decrease in patients coming in.

 

[3puttinHacker]

The economy hasn't hit the office that I work at that badly...they just set up and installed the first NewTom VGi dental ct scanner in the unites states...so they are doing good

 

[grayzkule]

I'm more worried about the damage being done by the current "Obamanation" than I am about the recession.

Exactly what I was going to say. Once the government decides how much is enough to pay for dental work dentist salaries are going down the drain.

 

[doc toothache]

My family is urging me to switch to another health profession, like pharmacy, that is not as affected by the recession. My cousin who is a new-ish pharmacist is making 6 figures even during this crisis and says that pharmacy is probably one of the most recession proof field. I guess if you need life saving drugs to survive, you're gonna pay for it no matter what, right?

Yes, who in the world would be willing to give up their prescription for Viagra/Cialis/Levitra?

 

[seaweed719]

Just saw this on NYT:
Job Growth in Health Is Expected to Be Strong
http://www.nytimes.com/2009/07/14/business/economy/14jobs.html?ref=business

'Employment in health and education services — which, unlike most other industries in the current recession, remains robust — will continue to skyrocket. A subsector of health care called "other medical services and dentists," which includes home health care, outpatient care and medical laboratory positions, is projected to add the most jobs.'

Read it with discretion though, and more jobs created for dentists does't directly translate into higher incomes.

The report is released by the Obama administration's economic council.

 

[enfuego]

I'm more worried about the damage being done by the current "Obamanation" than I am about the recession.

I wouldn't have been too worried about the recession if Congress wasn't passing all these new spending bills that'll cost us trillions of dollars (and that's just in estimated costs - everyone knows government programs always end up costing much more than predicted). Yeah, let's increase our debt even more and pump up inflation! That'll fix the recession!

Exactly what I was going to say. Once the government decides how much is enough to pay for dental work dentist salaries are going down the drain.

That's when you move out.

 

[thatguy687]

I was wondering the same thing, I found this article helpful http://www.time.com/time/business/article/0,8599,1879760,00.html

 

[grillz415]

I dont mean to get into politics here but thought i'd chime in in response to Lurchdubious, grayzkule, and enfuego's comments. I'm not an Obama-lover by any means but what the obama admin is doing is necessary. Why? Because Europe was in a recession until recently for almost 30 years! It lasted that long because initially government didn't do much and that led to war in many of the euro nations. They got out of it when governments stepped in and spent lots and lots of money.

To Spearmint: like some of the other ppl have said, choose the career you'll enjoy and be the best at it. whether you're in a super saturated industry like restaurants or in a highly structured salary system working for the government...as long as you're good, you get your $$.

 

[jay47]

Are any of you guys worried about the future of dentistry during this economic crisis? In the past, I was encouraged by others that dentistry is a good field to go into because it is basically recession proof, but it seems like a lot of practices are having trouble staying afloat these days. And who knows how long this recession is going to last?

It seems that out of all the major health professions, dentists are taking one of the biggest hit. A lot of patients are choosing not to do elective procedures or stop going to the dentists altogether, which of course affects the revenue. I live in CA and find it unsettling that out of all the medical programs, the government is completely eliminating Denti-cal (Medicaid that covers dental treatments for low-income ppl) starting July 1, 2009. I'm sure this is going to affect most of the CA dental schools, since a large percentage of their patients rely on government assistance. This just shows the general public's view on dentistry...that basically, it's something that is not really necessary....

QUOTE]

Well.....technically it isn't if people would do even a little to take care of their teeth. Probably 90% of the things dentists do would stop completely if people only did 3 things every day:

1. Brush 3 times daily
2. Floss and use mouth wash
3. Avoid consuming sugary, acidic and hard foods

But, this is never going to happen, so we will always have dentists. Whether people care or have enough money to pay us (a reasonable price) is another story.

 

[zoralsurgeon]

anyone know of any dental office that has had to closed down due to the economic recession?

Nope! The only dental offices I know that have closed were dentists that graduated with absolutely zero business skills or zero people skills…I don’t mean to sound disrespectful, but the truth hurts!

 

[angelnyc89]

I think Dentists are recession proof. I live in NYC and they are making $$$. I dont think their closing,I think more are opening. It is a great job in the present and future.

 

[THP23]

Sorry to burst your bubble but just about any job you're going to go into is going to be hurt by the recession......that's what happens when there is a major recession.

Whether you want to work in the health field, for a big corporation, in the restaurant business, or for the city, every one is hurting.

I don't think you should worry too much about changing your career to something other than dentistry due to the current financial crisis.

"Nope! The only dental offices I know that have closed were dentists that graduated with absolutely zero business skills or zero people skills…I don’t mean to sound disrespectful, but the truth hurts!"

I couldn't agree with you more here...i think too many times people entering in the health fields forget about this part of the profession....I know volunteering helps this a little but it is something done usually just to look good on an app. Not because it's truly something you enjoy. I believe having a job which requires excellent people skills will allow for someone to decide if they really want a life dedicated to helping/serving others. People can be absolute geniuses when it comes to school, but then be uncomfortable & out of their element once the problem is able to respond back with yet another problem or question (the patient). Sorry for the ranting LOL

 

[zoralsurgeon]

Sorry to burst your bubble but just about any job you're going to go into is going to be hurt by the recession......that's what happens when there is a major recession.

Whether you want to work in the health field, for a big corporation, in the restaurant business, or for the city, every one is hurting.

I don't think you should worry too much about changing your career to something other than dentistry due to the current financial crisis.

"Nope! The only dental offices I know that have closed were dentists that graduated with absolutely zero business skills or zero people skills…I don’t mean to sound disrespectful, but the truth hurts!"

I couldn't agree with you more here...i think too many times people entering in the health fields forget about this part of the profession....I know volunteering helps this a little but it is something done usually just to look good on an app. Not because it's truly something you enjoy. I believe having a job which requires excellent people skills will allow for someone to decide if they really want a life dedicated to helping/serving others. People can be absolute geniuses when it comes to school, but then be uncomfortable & out of their element once the problem is able to respond back with yet another problem or question (the patient). Sorry for the ranting LOL

haha glad to see someone else is on the same page as me!!! Oh ps - i am 2 classes away from my business major, and it was probably the smartest thing I could have done..I was going to get a degree in Spanish (since I am fluent) but thought about it, and who cares if I have it on paper...These business skills (accounting 1, 2, etc, finance, economics, communications, marketing, management, ETC.) have truly prepared me..I will feel very confident..trying to exclude myself from the type of dental school graduates i mentioned above, haha

 

[txsoonerfan]

I dont mean to get into politics here but thought i'd chime in in response to Lurchdubious, grayzkule, and enfuego's comments. I'm not an Obama-lover by any means but what the obama admin is doing is necessary. Why? Because Europe was in a recession until recently for almost 30 years! It lasted that long because initially government didn't do much and that led to war in many of the euro nations. They got out of it when governments stepped in and spent lots and lots of money.

I'm sorry- but this is the biggest load of crap I've ever heard. The Europeans are in worse shape than we are by far. Maybe mix a few history classes in there, oh wait, there all taught by libs! Maybe that's what's wrong with America!

 

[salem21]

Well, we as a nation have done the whole government-spend-a-lot for 230 years (starting to get away from that...) and it has worked pretty well. Anyways, dentistry is not going to suffer any worse than other fields during a recessions. People need their teeth to eat. People love to eat. Orthodontists might get hit as well as some cosmetic oriented general practitioners, but you can't put off a toothache.

 

[Futuredds2010]

Exactly what I was going to say. Once the government decides how much is enough to pay for dental work dentist salaries are going down the drain.

I hope this does not happen within the next four years!! I also read an article that the government wants to eliminate private loans too?

 

[txsoonerfan]

Originally Posted by grayzkule
Exactly what I was going to say. Once the government decides how much is enough to pay for dental work dentist salaries are going down the drain.

Not going to happen. Although dentistry is classified as healthcare, it's a totally different animal. One of the advantages of dentistry is that the industry hasn't sold out to the insurance companies. Most dentist accept limited types of insurance. Allowing the market to determine the price patients pay for dental work is the key.

 

[Futuredds2010]

Not going to happen. Although dentistry is classified as healthcare, it's a totally different animal. One of the advantages of dentistry is that the industry hasn't sold out to the insurance companies. Most dentist accept limited types of insurance. Allowing the market to determine the price patients pay for dental work is the key.

Interesting, I didn't know that.

 

[MXDenty77]

Not going to happen. Although dentistry is classified as healthcare, it's a totally different animal. One of the advantages of dentistry is that the industry hasn't sold out to the insurance companies. Most dentist accept limited types of insurance. Allowing the market to determine the price patients pay for dental work is the key.

I am wondering where you found this info. because I have been looking for a ratio breakdown of public insurancerivate insurance:cash income for the average dentist. Any one seen this kind of information?

 

[txsoonerfan]

I am wondering where you found this info. because I have been looking for a ratio breakdown of public insurancerivate insurance:cash income for the average dentist. Any one seen this kind of information?

I will try and do more research and provide you with more evidence to support my claim. Here is an article that speaks about the very few dentist that accept public insurance in rural NY, but the truth is, fewer and fewer private practice dentist accept these patients. Some dentists won't even take DMOs.

http://rocnow.com/article/local-news/2009907210333

The truth is, even with private insurance, most plans have fairly low maximums and patients are a lot more likely to have to pay for dental cost out of pocket. While I don't necessarily agree with everything, in this next article they claim that in 2007 Americans paid 44.2% of their dental bill themselves while only paying 10.3% of their physician cost. So it's easy to conclude that the ADA and dentist have done a good job of getting patients used to paying for dental cost out of pocket. How many times do you have to pull out your check book at the doctors office for anything beyond a co-pay?

http://www.slate.com/id/2229632/

I'll try to dig some more stuff up.

 

[Dentifrica]

Dude, hands down I'm in this because I love Dentistry [period]..I don't care about making six figures..I just want to help people and be able to pay my bills, the rest is life as long as you are doing what you love to do.

 

[txsoonerfan]

Dude, hands down I'm in this because I love Dentistry [period]..I don't care about making six figures..I just want to help people and be able to pay my bills, the rest is life as long as you are doing what you love to do.

Totally agreed. People shouldn't worry so much. Dentist are needed!

 

[FreeFallin]

It also depends on the area. I work with a dentist who is in a very well-to-do area with a clientelle who have not wavered in getting necessary work done. That's not to say other dentists haven't felt the recession. Just speaking about my experience as an RDH in this area. Also, being able to show the patient what's going on via digital pictures is huge. If I am able to show the patient rather than describe in 10 words or less the problem or dental work needed to be done, then they are more apt to come in for an appointment. This is not a selling tool. It is an education tool. So, even in hard economic times, I've noticed that at my office, patients are still willing to come in for work because they've been well-educated on their issue(s) and are unwilling (for the most part) to compromise their oral health.

 

[dentfosure]

Yes. I've been working at the dental office for three years and our dental office is having hard time right now, financially. It's not just us. I've talked to many dentists who practice in california about this. There are not much of your net income when you minus all the dental products, office lease payment, lab fees, student loans, equipment loans etc.

Even hygienists get laid off because doctors do the cleaning now to get some money out of it. My friends, who graduated from UCLA dental school last year, still not getting the jobs right now and they are thinking about going to Texas to look for a job.

Think about it, many people don't spend much money on their tooth. They don't know how it is important and how it keeps you healthy. A patient can have an implant, but it costs too much so that just ended up with empty tooth for years.

Since we are in recession right now, it's not gonna get better right away. I think It all depends how much you want to become a dentist. If you don't care about much money, then do it. Otherwise, find something else. HAHA

Many dentists told me to stay in school, doing research and full time professor or something. I guess they are talking about DMDs. That's a good idea though...

 

[dentfosure]

on Dentifrica!
If you love working at dental field and if you think that you have to become a dentist for sure, money is no matter. Maybe, your spouse can support you little. HAHA If you thinking about wealth, find something else.

 

[dentfosure]

Yes. I've been working at the dental office for three years and our dental office is having hard time right now, financially. It's not just us. I've talked to many dentists who practice in california about this. There are not much of your net income when you minus all the dental products, office lease payment, lab fees, student loans, equipment loans etc.

Even hygienists get laid off because doctors do the cleaning now to get some money out of it. My friends, who graduated from UCLA dental school last year, still not getting the jobs right now and they are thinking about going to Texas to look for a job.

Think about it, many people don't spend much money on their tooth. They don't know how it is important and how it keeps you healthy. A patient can have an implant, but it costs too much so that just ended up with empty tooth for years.

Since we are in recession right now, it's not gonna get better right away. I think It all depends how much you want to become a dentist. If you don't care about much money, then do it. Otherwise, find something else. HAHA

Many dentists told me to stay in school, doing research and full time professor or something. I guess they are talking about DMDs. That's a good idea though...

 

[txsoonerfan]

Yes. I've been working at the dental office for three years and our dental office is having hard time right now, financially. It's not just us. I've talked to many dentists who practice in california about this. There are not much of your net income when you minus all the dental products, office lease payment, lab fees, student loans, equipment loans etc.

Even hygienists get laid off because doctors do the cleaning now to get some money out of it. My friends, who graduated from UCLA dental school last year, still not getting the jobs right now and they are thinking about going to Texas to look for a job.

Think about it, many people don't spend much money on their tooth. They don't know how it is important and how it keeps you healthy. A patient can have an implant, but it costs too much so that just ended up with empty tooth for years.

Since we are in recession right now, it's not gonna get better right away. I think It all depends how much you want to become a dentist. If you don't care about much money, then do it. Otherwise, find something else. HAHA

Many dentists told me to stay in school, doing research and full time professor or something. I guess they are talking about DMDs. That's a good idea though...

What you have to understand is that you are in one of the worst markets for dentistry in the US. Your impression of the market is not representative of most areas. If It were me, I would relocate, but I guess it depends on the person.

Here in Texas, business is booming. If you are willing to work off the beaten path a little, there is huge potential.

 

[yappy]

Yes. I've been working at the dental office for three years and our dental office is having hard time right now, financially. It's not just us. I've talked to many dentists who practice in california about this. There are not much of your net income when you minus all the dental products, office lease payment, lab fees, student loans, equipment loans etc.

Even hygienists get laid off because doctors do the cleaning now to get some money out of it. My friends, who graduated from UCLA dental school last year, still not getting the jobs right now and they are thinking about going to Texas to look for a job.

Think about it, many people don't spend much money on their tooth. They don't know how it is important and how it keeps you healthy. A patient can have an implant, but it costs too much so that just ended up with empty tooth for years.

Since we are in recession right now, it's not gonna get better right away. I think It all depends how much you want to become a dentist. If you don't care about much money, then do it. Otherwise, find something else. HAHA

Many dentists told me to stay in school, doing research and full time professor or something. I guess they are talking about DMDs. That's a good idea though...

Ouch... that was painful to read.

 

[7 Iron]

I know this is an older thread that has been resurrected, but I am not overly concerned about the future of dentistry. If you are just entering dental school this coming year, you won't get out until 2015. There is no way to know what the economy will be like four years from now. Think long term. If you really enjoy dentistry and can see yourself practicing, don't let the current recession sway your decision. I personally think being in school during a recession is a pretty sweet move, because it's possible that the recovery will take hold between now and 2015.

 

[321931]

I know this is an older thread that has been resurrected, but I am not overly concerned about the future of dentistry. If you are just entering dental school this coming year, you won't get out until 2015. There is no way to know what the economy will be like four years from now. Think long term. If you really enjoy dentistry and can see yourself practicing, don't let the current recession sway your decision. I personally think being in school during a recession is a pretty sweet move, because it's possible that the recovery will take hold between now and 2015.

Who isn't hit hard by the recession. If you think life is tough as a Dentist in a recession, then I wonder what you must think of the average joe-job in the recession.

 

[wired202808]

this thread is all flubb! every field is hit hard during a recession, but dentisty jas one of the best ROI's (Return on Investment.) You will still make a good living ($150K or $200K) and you will still have a good life. It might take you longer to become a millionaire, but you'll get there someday. No need to panic, this is still America... not Cuba.... doctors and dentists who are worth their salt, still get a good paycheck.

 

[dentalWorks]

this thread is all flubb! every field is hit hard during a recession, but dentisty jas one of the best ROI's (Return on Investment.) You will still make a good living ($150K or $200K) and you will still have a good life. It might take you longer to become a millionaire, but you'll get there someday. No need to panic, this is still America... not Cuba.... doctors and dentists who are worth their salt, still get a good paycheck.

 

[AwesomeTeeth]

this thread is all flubb! every field is hit hard during a recession, but dentisty jas one of the best ROI's (Return on Investment.)

....... are you a dentist? Then how exactly would you know its true?

It might take you longer to become a millionaire, but you'll get there someday.

This may be surprising for some people, but dentistry is probably one of the worst ways to try and become a millionaire. You probably won't become one and will live in a nice regular suburban neighborhood with everyone else. You're not going to own a Ferrari.

doctors and dentists who are worth their salt, still get a good paycheck.

Not quite true either. Sure if you're an awesome cardiovascular surgeon or oral surgeon, you'll make alot of money. But if you're just a really good general dentist or family practitioner, no one really cares. A good implant or root canal can be done by the majority of dentists. You'll most likely end up making the same as the average unless you have great business skills to promote your practice or start a chain.

 

[wired202808]

....... are you a dentist? Then how exactly would you know its true?

I have plenty of family members and friends to know this... I also the great thing called work experience... I understand how much average salaries are for various fields and dentistry has a significant higher average salary than majority of the careers out there.

This may be surprising for some people, but dentistry is probably one of the worst ways to try and become a millionaire. You probably won't become one and will live in a nice regular suburban neighborhood with everyone else. You're not going to own a Ferrari.

This is a false statement, average salary might not be enough, but there are plenty of dentists who pull in $200 to $500K in the NYC area. even though its "oversaturated." remember those who make that much, dont go on SDN to report it to you LOL


Not quite true either. Sure if you're an awesome cardiovascular surgeon or oral surgeon, you'll make alot of money. But if you're just a really good general dentist or family practitioner, no one really cares. A good implant or root canal can be done by the majority of dentists. You'll most likely end up making the same as the average unless you have great business skills to promote your practice or start a chain.

A lot of money in my mind is over $150K, thats more than what most people make in any company per year (excluding benefits, insurance, etc.) For the amount of work you put in as a dentist your pay is really great. Plus having the flexibility to make over $100K and pick your own hours, does not exist in 99.9% of the professions out there. Please don't use civil jobs in comparison because those are not the majority. In addition, as I've stated before you see a sample on SDN regarding salaries and such. While I'm not saying each dentist makes $1 Million per year, I do happen to know a few who come pretty close to that amount, granted they're in NYC. But my point is that SDN does not paint the whole picture nor do BLS graphs and charts, which often don't factor in dentists salaries from private practices. BLS tends to use dentists salaries from hospitals or other public institutions.

My whole point was to say that theres no need to cry or whine when your in the medical profession, over your lifetime you will make more $$$ than most professions and you will have more flexibility as well. In my mind thats the best ROI.