This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.
Get help with your application

Use all the free resources available to you from SDN: articles, guides, expert advising, forums discussions, and school research.

Advertisement - Members don't see this ad
I do. He may have been through the trenches of d-school and 5 yrs experience, but he is still going through the trenches of dental practice and he's not doing so hot. So is it the profession? Or is it him?
He talks of HOW SATURATED it is and how he regrets it and how he's not viewed as a real doctor. Saying the words "don't get me wrong - i love what I do" randomly placed in that ridiculous diatribe to justify his own profession was just...ridiculous. All he did was further lose credibility.
His chief complaint was the saturation from new grads, so after a particularly frustrating day he gets on SDN to tell predents to run the other way as fast as we can. Even the thread title reads desperation. I don't know the guy but I'm fairly certain it's not because he cares so much about us. It is also a sign as to his character. Maybe that's another reason he's struggling.
I understand and agree with your point, we quickly turn away negative because we need to justify all of our hard work that we have put out to be at this point. If it is not justified, then what was the point, right? Why did we waste our time? But I can confidently say that's not the case here. He has achieved ONE of the goals we are all trying to accomplish here, but that does not mean he know everything about the profession.

"Boohoo!! I only made $160K last year!! This profession and the field are going down the crapper!!"

Justify all your hard work up to this point by choosing a cheap school to attend, and working in a less saturated area. If you don't, there is a good chance you will wish you had took his advice.

ps: 160k as an owner sucks. not worth the headache from the business side and the patient side.
 
a lot of people on here forget the fact when making this comparison is that you compare with the least amount new grad dentist can make (90k$, which can go up) to the almost maximum amount an accounting/business/office job can get (just in general, theres exception). You know why ur friend's gf told u she will make 60k cuz it is ESPECIALLY high. no one will tell you if they make 30k out.

Most non-medical degrees I see around me make 30k or less out of school. Heck even new grad engineer usually make close to 40k......................grass is always greener i guess.

50-60K is easy coming from an accounting major. If you want to compare apples to apples, then you have to consider the 4 years of work experience and 4 years of lost income from going to dental school too. After 4 years in accounting, especially if you work your butt off in public accounting, you can easily get a ~6 fig job working 40 hrs a week. The only downside is you gotta do soul draining work for the rest of your life. But at least it is not physically demanding and doesn't take 400k debt.
 
50-60K is easy coming from an accounting major. If you want to compare apples to apples, then you have to consider the 4 years of work experience and 4 years of lost income from going to dental school too. After 4 years in accounting, especially if you work your butt off in public accounting, you can easily get a ~6 fig job working 40 hrs a week. The only downside is you gotta do soul draining work for the rest of your life. But at least it is not physically demanding and doesn't take 400k debt.

don't forget working in an accounting firm gives you health benefits(which is especially impt for people with kids), 401k, and no risk of ownership!!!

I have a good gig as an associate now, but I have to pay tons of taxes, buy my own health ins, and contribute to my own 401k.
 
Advertisement - Members don't see this ad
don't forget working in an accounting firm gives you health benefits(which is especially impt for people with kids), 401k, and no risk of ownership!!!

I have a good gig as an associate now, but I have to pay tons of taxes, buy my own health ins, and contribute to my own 401k.

The UFC doesn't give you health insurance? Whose going to insure someone getting punched in the face monthly...?
 
don't forget working in an accounting firm gives you health benefits(which is especially impt for people with kids), 401k, and no risk of ownership!!!

I have a good gig as an associate now, but I have to pay tons of taxes, buy my own health ins, and contribute to my own 401k.

Can you set up a SEP-401K as an individual contractor?
 
yep. i setup a solo-401k, and will be contributing the max so I can get a break from paying so much in tax.

I think you have a better deal than many employees.

HSA + High deductible low premium ACA healthcare plan + Solo-401K (with 50K contribution per year) = winning.
 
Justify all your hard work up to this point by choosing a cheap school to attend, and working in a less saturated area. If you don't, there is a good chance you will wish you had took his advice.

ps: 160k as an owner sucks. not worth the headache from the business side and the patient side.

even LECOM? or UNLV (instate after 1 year)? any school will work? a DDS with a license is still a DDS with a license right? you learn outside of dental school right?
 
I think you have a better deal than many employees.

HSA + High deductible low premium ACA healthcare plan + Solo-401K (with 50K contribution per year) = winning.


how so? if you're an employee, you can get an HSA, and your employer matches your 401k contribution.
 
how so? if you're an employee, you can get an HSA, and your employer matches your 401k contribution.

Don't you have to waive your employer's health insurance to get a HSA in that case?

And yes, it's true the employer matches 401k contribution to a certain extent, but isn't the limit for that 18K? If my understanding is correct, you can put 50K/yr into Solo-401K....providing an enormous tax relief in addition to the benefit of more money compounding tax-free.
 
Don't you have to waive your employer's health insurance to get a HSA in that case?

And yes, it's true the employer matches 401k contribution to a certain extent, but isn't the limit for that 18K? If my understanding is correct, you can put 50K/yr into Solo-401K....providing an enormous tax relief in addition to the benefit of more money compounding tax-free.


hmm.. that is true.but i don't know too many new grads that can put away 50k a year tho. haha.
 
So - I'd like to begin by first saying that this is a throwaway, because I don't really feel like having any of you discover who I am - (never underestimate the power of the internet. Dentistry is a very “front” facing profession. Your mug will be plastered on the website of whatever office you decide to work at.) Because of this, I will try to keep personal details to a min.

What has compelled me to go back to SDN, and write what appears to be a memoir? I’m fed up with the field, and everything it stands for. My brother is EM physician (just finished his residency a few years back), and I am pretty sure I'm able to see both sides.

So, young‘uns - 1st - SDN has a reputation for being all doom and gloom. A “sky is falling mentality” I guess. Can’t say I chuckled when I first started going through threads several years back during dental school. But now as a graduate, and practicing dentist… its funny how things work out. The field is saturated, and due to market forces we, as dentists can’t really control, it is definitely headed in a downwards trajectory. Don’t say I didn’t warn you guys.

I graduated roughly 5 years ago. I came out with several hundred thousand dollars of debt. I didn’t think too much about paying them off - I figured I’d just start associating and the rest would take care of itself.

I’m making good progress on it - but my issues with dentistry lie not so much with the debt (although thats a huge part - especially nowadays. Other people have covered this - so I’m not going to delve into it too much), but other issues with the field most people wouldn’t think about if they were applying today.

1) SATURATION. I kid you not - Dentistry is headed towards a zero sum race to the bottom.
There really are too many dentists. Straight up - the field is headed the way of pharmacy. Dental chains are buying out every retiring dentist, and squeezing out completion. On the surface - you’re like “oh - well the ADA says that we’re facing a shortage of dentists! They NEED me!” No. Stop. If you actually think this, go back and apply to medical school, where residency spots are tied to funding, and can’t be multiplied 2x at a whim. I have friends who graduated in my class who are still stuck with 90k associating gigs.​


I firmly believe that the issue is mainly because 1) Too many grads with too many loans are flooding the marketplace, and more importantly - 2) Older dentists ARE NOT RETIRING. This is HUGE. If you go back to 2001-2002, people were saying that dentistry would be facing a shortage, that there wouldn’t be enough docs to make sure little Timmy’s tooth decay wouldn’t go unchecked.​

The reason why dentistry has been so hot recently? Well, articles like this: http://money.usnews.com/money/careers/slideshows/the-25-best-jobs-of-2015/2 and others in Business Insider, CNN, etc. I feel, are pushing a lot of people into the field who ordinarily wouldn’t have bothered looking at it.​

The numbers of dentists needed today per 100,000 people are less than what was needed two decades ago. Dentists today are more efficient, have broader training, and are capable of doing more (no more referring everything out - new docs are now doing extractions, Invisalign, you name it). But older docs aren’t retiring. What happens is a “semi-retirement” where the doc comes in 1 day a week, still owns the office, etc, and the poor associate is only making ~90k a year (60k after taxes, and 30k after repaying loans. I’m not kidding). This all resulted in a huge increase in the # of dentists, especially after the financial crisis. According to a recent ADA survey - 1/3 of dentists AREN’T busy enough! This is huge! In addition, the number of dentists has continued to go up EACH year, after the ADA said there was a shortage back in ~2005

2) The debt isn’t quite worth it anymore. I graduated 5 years back, and I thought my debt was a lot. For everyone intending to go 300-500k in debt, you realize thats 30k+ in interest every year? Paying pack 4k a month out of every paycheck? For what its worth - you’re making ~90k when you start. The way the field is now, a GPR is basically essential. You realize you’re in school ONLY 2 years less than an EM physician? And they get paid ~330k when they start working. 2 extra years, and you quadruple your salary? I firmly believe anyone who is in dental school could easily have gone to med school, even if you need to do a postbacc - it’s within range. Strictly financially, Medicine has FAR more to offer.

3) You feel like a used car salesman with all the competition.

If you’re an introverted person, or are not comfortable “coaxing” people to accept procedures they might not otherwise, drop out of the field right now. This isn’t even corporate - its you trying to keep your office afloat/trying to pay your student loans. Yes, that patient 50/50 could have a crown or no, but if YOU don’t do it, another dentist down the street IS going to do it, and pocket the $2000 themselves.

Back in the day (think 80’s) if a tooth didn’t hurt/bug the patient, the dentist left it alone. Nowadays, with every one and their mom is trying to sell each patient a full mouth reconstruction (as well as offering massages and other bull**** remedies) is it no wonder people don’t take dentists seriously? No joke, the office down the street from me is a “Dental Spa” that offers a full range a skin rejuvenations, massages, and other girly/try-hard stuff I’ll have to ask my wife about because I don’t know what any of it is

4) Backbreaking work. No joke it’s only been five years, and my lower back is killing me very day. My hands hurt, and my shoulders feel like they're made of stone. Add in the fact I'm looking at mouths all day - the novelty has worn off.

5) The job itself leaves much to be desired. You clean/fix teeth. Thats it. You don’t do complex jaw surgeries (no, Mr. Oral Surgeon - you don’t. You pull 3rds all day in private practice pretending you're a doctor) and you definitely don’t do anything reconstructive asides from teeth. You’re a glorified tooth mechanic. Now don’t get me wrong - I love what I do - but there are other things that now, after several years of practice, I feel like I would also derive pleasure from doing.

6) Insurance companies will f****** gut you and leave you to die on the street. Reimbursements are going down . You might ask — “why does this affect me? I’m going to run a FFS practice!” It affects you because FFS is only viable in certain areas - Anywhere from 0% (lol you wish) to 80% of your payer mix will be PPO. Delta Dental is the bane of my existence and basically a monopoly in several places - they provide dental insurance coverage for 1/3 of the adults in the United States. This monopoly is FEDERALLY protected - meaning there’s no competition for dental benefits/price. The McCarran–Ferguson Act (http://healthcarereform.procon.org/view.answers.php?questionID=001890) basically allows this. I can’t drop them because 40% of my patients have their insurance, and last year when they decided to cut fees in my area by 5%, I got screwed to the tune of 70-80k in lost income. This leads me to my next point…

7) Dentistry is influenced by market trends/the squeezing of the middle class. The middle class is getting squeezed. Now this definitely affects you, because 20+ years ago, many, many more jobs were unionized, more people had dental insurance, and more people took the time to see the dentist. Average family income (adjusted for inflation) hasn’t risen in a decade! Things like raising the minimum wage, for example, will actually HELP dentists because it makes the average person more likely to afford/see a dentist. But the way it is now, the average family is poorer than they were 10 years ago, and this translates to less than 50% of us adults actually having dental insurance and an even smaller amount using it.

8) Other minor things - such as running an office, insurance write-offs, dealing with people in general, and lack of respect among EVERYONE (the latter being a pretty small issue, as least for me - but I know how neurotic everyone is on SDN, so this might be something to keep in mind)​



Now - all this might seems sort of convoluted. I’m typing this right now after a particularly frustering day at my office. I can see how this profession might have worked a decade or two ago. But I swear to god - I’m not sure if the next 10 years are going to be very much fun for anyone. I have zero bargaining power with insurance companies. Incomes have stagnated - and as a new dentist, you can expect maybe 90k-120k or so - and you’ll be stuck at that level for 2-5+ years. The real kicker is the saturation though. All the rest, most people can deal with. But when 4+ offices go bankrupt in my suburb every year - I’m starting to realize that the field is cracking. Incomes are slowly decreasing - I expect within 5 years or so average starting salary for an associate will be in the 80-100k range (it already is in a lot of places)



For all the people who think I’m some sort of SDN troll - heres a QA section for ya:

Q. You sound mad - well, I’ll have you know- I’m going to be a super dentist! I’ll be the one to buck trends and pay off my 400k loans in 5 years! Just watch me!

A. Ok, Jimmy, good luck. With 400k in loans, no bank is going to loan you money to even purchase a practice. You’ll be making 90k for the next 7 years. You can moonlight as a doctor while in residency and make more than that



Q. Why did you even go into Dentistry if you hate it?

A. I still like dentistry - it’s just that the field is dying, or at least, headed towards a huge “market correction” and I can see it clearly from my vantage point. I feel like a pharmacist circa 2000 making 120k, and life was good. Fast forward 10 years…


Q. Where are you pulling that figure from - 90k as a starting salary of a dentist? Every survey I see says 140k.

A. Those salary surveys are compounded over years and years - meaning they still have data from 2005 when associates used to be paid $500+ a day and 35%+ of production. That doesn’t exist anymore. Today, you can expect to make 90k to 120k if you want to live anywhere within 100 miles of a major city. And if you say that you won’t - you’re lying. This is EVERYONE. Don’t lie to yourself and say you want to live in an oilfield in North Dakota. You guys are what - 19-20 years old in the forum? Do you guys understand that at 27/28/29, when you graduate/finish your residency, you’ll be thinking of getting married. Getting settled down, having a wife and kids - and trust me, your wife won’t want to wake up and chase moose off your property.


Q. Where do you see dentistry in 10 years?

A. At the same level as pharmacists, job opportunity wise. Salaries will continue to drop, and the dentist/population ratio will skyrocket leading to declining income (Hell, my income dropped ~30k as an owner the past two years.) If there isn’t a dentist in every Walmart by then, well color me surprised (KIDDING - most will probably be in strip malls, to be honest). Loans will render most graduates unable to purchase practices because they’ll be owned by chains, and most dentists will just be employees making peanuts for their education (look at pharmacy - the other field that doesn't have mandatory residencies/where it's easy to open up a school)


Q. You mentioned your brother was an EM physician. Is how does he view things in the healthcare field right now?

A. First and foremost, I should state my brother doesn't give a f*** about dentists. As in - while Dentists (even the predents in this forum) have this insecurity complex about not being "real doctors", the number of times "dentist" crosses my brothers mind is laughably small. When was the last time you thought about an optometrist? When you needed new glasses 3 years back, otherwise you forget they exist. Thats how 90% of people view dentists

Now for the meat. My brother makes (slightly adjusted) around 320k gross income right now. His first contract out of fellowship was for around 275k. I make around 160k as an owner. 2 years back, I was at 190k, but Delta Dental decided to cut my reimbursement, and now I'm working twice as hard to woo patients to get their teeth taken care of so they don't show up in front of my brother in the ER because of an abscess. I don't give massages or have a spa at my practice, so another few points docked for me.

Physicians like to moan and groan about how the government is out to get them, their pay will be docked, etc. But the fact is - it's not going to happen - at least anytime. The AMA is extremely powerful, and there are well over 1 million physicians in the United States. Supply and Demand doesn't even play a role, because the number of residency spots is governed by government funding levels (which hasn't risen in a decade), and thanks to political gridlock, probably wont rise for the 20 years.

Dentists - all you need is a new school, and suddenly over a 10 year period, you have 1500 new dentists in one geographical area.... all trying to sell you a massage along with your prophy...



My final word to you all? Do anything else. Trust me. Don't say I didn't warn you.

Signed,

-A Current Dentist

PS. I'm posting this here because I realize many of you are too young and don't/are unable to frequent DentalTown. I'm simply keeping guys in the loop. I would have appreciated it if someone did for me back in the day when I was applying - I'm just passing it forward.

I don't think you ever understood the idea of a goal and desire to be in this field to begin with. I think people like you should have been filtered out during the interview and thrown out in the first place. You're obviously going for the money and fame, which I suggest you should have gone for MBA, not dentistry. You also sound very bitter and angry at the field. So please spare everyone who is still living in hope to become a dentist one day for the sake of loving that field and working with patients in need. I can assure everyone, that health clinics are always looking which pays 120-150k plus 25k for loan forgiveness. If you have no experience to begin with, why would you open your own practice when you just graduated???

Physician is not for everyone as dentist is not for everyone (i.e. You). It's important to go for a career that you care about and not one for money sake. Because then you'll end up like..... Well you can figure it out.
 
Advertisement - Members don't see this ad
I don't think you ever understood the idea of a goal and desire to be in this field to begin with. I think people like you should have been filtered out during the interview and thrown out in the first place. You're obviously going for the money and fame, which I suggest you should have gone for MBA, not dentistry. You also sound very bitter and angry at the field. So please spare everyone who is still living in hope to become a dentist one day for the sake of loving that field and working with patients in need. I can assure everyone, that health clinics are always looking which pays 120-150k plus 25k for loan forgiveness. If you have no experience to begin with, why would you open your own practice when you just graduated???

Physician is not for everyone as dentist is not for everyone (i.e. You). It's important to go for a career that you care about and not one for money sake. Because then you'll end up like..... Well you can figure it out.

Please- tell that to the dental schools that have no problem putting us deep into debt before we even get to touch a tooth, or to the government who won't let us deduct our student loans, OR to the patient's come in with designer clothes and cars, waste your time because they don't want to pay to get their teeth fixed, ORR to the dental supply and insurance companies who give deep discounts to the corporate dental offices but take it out of the solo owner.
 
Justify all your hard work up to this point by choosing a cheap school to attend, and working in a less saturated area. If you don't, there is a good chance you will wish you had took his advice.

ps: 160k as an owner sucks. not worth the headache from the business side and the patient side.

So don't be an owner.
And as far as his advice, just quit?

50-60K is easy coming from an accounting major. If you want to compare apples to apples, then you have to consider the 4 years of work experience and 4 years of lost income from going to dental school too. After 4 years in accounting, especially if you work your butt off in public accounting, you can easily get a ~6 fig job working 40 hrs a week. The only downside is you gotta do soul draining work for the rest of your life. But at least it is not physically demanding and doesn't take 400k debt.

I agree with you on all of that, there are other opportunities. Finances are important, but not at the expense of my soul and my happiness. Everyone has a different price tag for that.
Besides, their are more accountants than dentists. I don't feel like googling it right now so this is pure opinion, but i would think there is greater opportunity for financial growth and independence in dentistry than accounting. Even if the accountant has 4 years experience and $400K less debt, the dentist fresh out of school will likely catch up. The break-even point is there and there are tons of variables. But it is not unlikely the dentist will find their way there.

Don't you have to waive your employer's health insurance to get a HSA in that case?

And yes, it's true the employer matches 401k contribution to a certain extent, but isn't the limit for that 18K? If my understanding is correct, you can put 50K/yr into Solo-401K....providing an enormous tax relief in addition to the benefit of more money compounding tax-free.

$53K is the limit in total. The max an employee can contribute is $18K, as well as employer profit sharing contributions not to exceed a combined total of $53K.
Like you said, if you're self employed, you can contribute that $53K to yourself.
The tax benefits that provides is enormous. It may reduce the taxable income enough to affect the student loan repayment amounts. If you are on an income bases repayment plan, your loan payments amounts are limited based on previous years income.
 
Please- tell that to the dental schools that have no problem putting us deep into debt before we even get to touch a tooth, or to the government who won't let us deduct our student loans, OR to the patient's come in with designer clothes and cars, waste your time because they don't want to pay to get their teeth fixed, ORR to the dental supply and insurance companies who give deep discounts to the corporate dental offices but take it out of the solo owner.

Every profession has its drawbacks. Do the cons outweigh the pros? Do you have alternatives? Do you want another profession? Or are you happy as a dentist?
 
So don't be an owner.
And as far as his advice, just quit?

Don't quit, but just make smart decisions. Going to an expensive school and owning a practice too quick is a recipe for weight gain, stress, and grey hair. It's really simple:

1)goto cheapest school possible
2) find a good paying associate job to learn business and clinical aspects
3) do whatever makes you happy after that.


Do the cons outweigh the pros? hmm.. for me yea.
Do I want another profession? no because I put everything I had into being a dentist. i'm going to learn about real estate tho.
Am I happy being a dentist? yea, because I like where I work and I get paid well. BUT there are tons of dentists that will tell you otherwise, and it's gonna be up to you whether you end up closer to me or the OP(his situation is REALLY common)...
 
Last edited:
Don't quit, but just make smart decisions. Going to an expensive school and owning a practice too quick is a recipe for weight gain, stress, and grey hair. It's really simple:

1)goto cheapest school possible
2) find a good paying associate job to learn business and clinical aspects
3) do whatever makes you happy after that.

I couldn't agree more. Unfortunately it looks like OP did not do that, that's why he is facing the consequences of his choices. It has nothing to do with the profession itself.
 
I couldn't agree more. Unfortunately it looks like OP did not do that, that's why he is facing the consequences of his choices. It has nothing to do with the profession itself.

the profession is mentally/physically tiring for all the reasons he listed, and you won't know until you actually get in there yourself. here is another impt takeaway: OWNING an office can really suck. there are owners right now who still don't understand what it takes to be successful. why? it's too much on a day to day basis to handle the marketing, managing staff, controlling overhead, caring for patients, dealing with insurance...while you're surrounded by dentists doing the same thing!! how on earth do you do that day in and day out and stay sane?

there are plenty of resources to make the solo owner successful, but think of all the times you found the secret to getting that beach body. was it so easy to apply? just because someone shows you how to do it, doesn't mean you can do it yourself.
 
Last edited:
the profession is mentally/physically tiring for all the reasons he listed, and you won't know until you actually get in there yourself. here is another impt takeaway: OWNING an office can really suck. there are owners right now who still don't understand what it takes to be successful. why? it's too much on a day to day basis to handle the marketing, managing staff, controlling overhead, caring for patients, dealing with insurance...while you're surrounded by dentists doing the same thing!! how on earth do you do that day in and day out and stay sane?

there are plenty of resources to make the solo owner successful, but think of all the times you found the secret to getting that beach body. was it so easy to apply? just because someone shows you how to do it, doesn't mean you can do it yourself.

As I have said, why open your practice fresh out of graduation when you're in debt and have no experience??? When you can be working at a health clinic? Gain experience and be paid enough to pay back in 8-10 years?

The smart choice is going to a cheap college, however there are drawbacks to every choices and colleges. You have to pick one that matches what you want and what makes you happy. Every field is saturated because guess what? The human populations never ever stops growing. That doesn't mean you reconsider your path because you're scare of competitions or set backs in financial needs. You deal with it the right way because that's life. Who ever said anything was easy and a walk in the park. Come on guys... We're not the 1% population to demand such a thing.
 
the profession is mentally/physically tiring for all the reasons he listed, and you won't know until you actually get in there yourself. here is another impt takeaway: OWNING an office can really suck. there are owners right now who still don't understand what it takes to be successful. why? it's too much on a day to day basis to handle the marketing, managing staff, controlling overhead, caring for patients, dealing with insurance...while you're surrounded by dentists doing the same thing!! how on earth do you do that day in and day out and stay sane?

there are plenty of resources to make the solo owner successful, but think of all the times you found the secret to getting that beach body. was it so easy to apply? just because someone shows you how to do it, doesn't mean you can do it yourself.

Marketing - if you're a good dentist, it shouldn't even be necessary. Reputation is the best marketing
Managing staff - get an office manager.
Controlling overhead - yes, that's a big one. That's why you get a good manager.
Caring for patients - priority.
Dealing with insurance - again, office manager.

If one finds it difficult to juggle all of those responsibilities, hire someone to help! That's their job. Now you have more time to care for patients, which is what you went to school for in the first place. You have time to see more patients to cover the additional personnel costs. Hell, get another hygienist or an associate of your own. That's how the other dentists around you are doing it day in and day out and thats how you stay sane. You said $160,000 is not worth the headache. Is it worth it without the headache? As an owner, it's your job to make some of the bigger strategic business decisions such as working hours, equipment, software, lease payments, etc. But if you're doing all of that, seeing patients, and doing all the work required in day to day operations, of course you'll lose your mind. It's stressful to put all that on your plate.
Like you said, there are plenty of resources. And as far as getting that beachbody, it may be difficult but if that's my JOB and I'm getting paid that much money to do it you better believe I'm going to look like Adonis.
 
Can you set up a SEP-401K as an individual contractor?

I think you have a better deal than many employees.

HSA + High deductible low premium ACA healthcare plan + Solo-401K (with 50K contribution per year) = winning.

I was going to say the same thing.

how so? if you're an employee, you can get an HSA, and your employer matches your 401k contribution.

As stated above, you can put away a lot more money as an independent contractor, not only the 53K into your SEP but you can also deduct your health insurance premiums so on top of the HSA contributions, SEP, health insurance premiums, business expenses (licensing, insurance, etc, etc, etc,) you can shelter a lot more money than a w-2 employee can.
 
Marketing - if you're a good dentist, it shouldn't even be necessary. Reputation is the best marketing

Marketing is VERY NECESSARY to get new patients through the door, letting patients know why they should come to your office. It's also important in presenting your treatment plans. You could do the best filling in the world, and most of your patients won't even know it unless you are able to MARKET yourself and your office.

Managing staff - get an office manager.
Controlling overhead - yes, that's a big one. That's why you get a good manager.
Caring for patients - priority.
Dealing with insurance - again, office manager.

If you can find a good one, cool! You better have a lot of people paying you to fix their teeth to pay for the good manager

I am not opposed to ownership. There is just a lot of planning involved. When you have tons of debt, it likely will take you longer to become an owner.
 
Last edited:
After thinking about it, the fact that you guys are actively on sdn puts you ahead of your peers. You guys are going to be fine. I know what it's like to be in your shoes. The things OP, myself, and other dentists have to deal with shouldn't concern you too much right now.

Everyone has their own path. Dentistry will be what you make of it. It can be really rewarding or really devastating. Just goto a cheap school.
 
Last edited:
I'm a nontraditional predent with a degree in finance/accounting.

First of all, many college/masters graduates with non medical degrees are lucky to even FIND a job, anywhere. If they do find a job, more than likely it's doing grunt work for $50k year with minimal raise. Then we hop on dental forums and see massive crying for anything less than 100k first year. Come on guys, we have it good! But I know this thread is more about dentists vs MD so here is my take.

I worked in the corporate world for several years and didn't like it at all. In that world, besides doing your best on your actual job, you have to play the politics game. Your career advancement depends so much on who likes you and who doesn't like you. To me, that's way too much work for very limited rewards. I'm also a man of freedom. I want to be able to do my own things and take full responsibilities. In the corporate world, you're not encouraged to be creative and change the status quo. Eventually, you'll become complacent, dull, and lifeless. Well guess what? Hospitals are corporation! I disliked the corporate environment back then and there is a great possibility I'll dislike working in hospitals in the future.

On the other hand, dental offices are run as small businesses, where the owner (the dentist) can take everything into his or her own hands. I understand there is competition,but surely it's not as bad as running a restaurant or a hair salon. For the amount of work and time we put in, the rewards are massive compared to almost everything else. Oh by the way, my main reason for choosing dentistry (besides the fact that I actually like teeth) over MD is being able to spend quality time with my family and not being on call for the rest of my life.

Lastly, 300k a year is really not that much. Dentists on average to me are more entrepreneurial than MDs. Compounded by the fact that we have more free time to explore other ventures, I'd say the ratio of 1mm+/year dentists are higher than 1mm+/year MDs.

Although there are some changes coming, I still believe dentistry is a fine profession.
Seriously agree with you.
I am just tired of being a business person,there are so may tricks and complicated relations you have to handle with.
 
I agree that a lot of this has to do with location. In Wisconsin there really isn't an issue of corporations and a lot like Midwest dental are one of the better corps out there.

In my city 95% of dental offices are private, the dentists I've shadowed love their work, don't work at a backbreaking pace, live a nice lifestyle, etc... And I don't live in the boonies...

I think OPs idea of what rural is wrong, just because it's not Chicago, Houston, Dallas, DC, NY, etc... it doesn't mean it's rural...
 
50-60K is easy coming from an accounting major. If you want to compare apples to apples, then you have to consider the 4 years of work experience and 4 years of lost income from going to dental school too. After 4 years in accounting, especially if you work your butt off in public accounting, you can easily get a ~6 fig job working 40 hrs a week. The only downside is you gotta do soul draining work for the rest of your life. But at least it is not physically demanding and doesn't take 400k debt.

I can confirm this from a Canadian perspective as well. Regular accountant grads get 50-60k without much trouble. After they get their designation, most makes 100k+. There's a lot of them, yes, but they also have many sectors they could choose from. The following is a salary survey conducted in Canada. Their salaries are great considering they worked through school, had MUCH less debt etc.
http://www.cpasource.com/General/CPA_Canada_2015_Member_Compensation_Report_EN.pdf
But it's a profession i'd assume most of us pre-healths wouldn't be interested in.
 
Advertisement - Members don't see this ad
In this thread - every single pre-dent acting like they know more than a 35 year old, practicing dentist.

Are you guys being serious? A bunch of 19 year olds telling a dentist how to run his practice as if he doesn't know? "Yeah, all you gotta do is advertise! You should have been weeded out during the interview! You can't get patients? You must be a bad dentist! Every single article I read on the internet (read: not the real world) says so!"

The naivety would is almost humorous, if it weren't so sad

SDN confuses me so much sometimes. Here's a practicing dentist, who comes in and give his 2 cents, and a bunch of 19 year old pre-dents rip him apart because he's not telling them the fantasy they want to hear. ("Yeah, I got out, got a 250k associating job, bought a ferarri, paid off my loans in 3 years...." No. Just no.)

I think the issue here is that a lot of the people here don't want/can't bear to hear the truth... because it would involve rewriting years of their life to focus on something different. It's hard - it is - and many people who were pressured to go into a health field by their family, or perhaps where looking for it to be the "holy grail" of careers .... Or perhaps because they didn't have the drive/mental fortitude to tough it out through med school (yes, a divisive, but somewhat true statement - as much as many people here hate to admit)

There is no magic bullet career wise. Pick something you like - not because you read about it on the internet pre-med forum, but because you truly find it interesting.

If all you care about is the money - Software engineering is exploding, and is here to stay. They make ~100k plus benefits. Many business careers are also exploding - the recession is open and businesses are hiring like man. Check out this article: http://www.financialsamurai.com/how-to-make-six-figures-income-at-almost-any-age/

I'm sure most of you care about dentistry with all your heart. But life isn't a zero sum game. There isn't just "one" career you're destined to be in - and MOST people would be happy in a wide variety of careers - in fact, most people switch several times in their lives. It's nothing to be ashamed about. It's nothing to be scared about.

It's just life...
I agree with this 100% and see it a lot with pre-dents. They simply ignore all negative aspects about pursuing a career in dentistry and for some reason have it in their head that life is going to be great once I'm out, I won't have any problems, etc...... and it's sad, especially how so many ignore the debt load they are taking on as if it's nothing.

I think it's as simply as, the lifestyle nowadays and going into the future simply won't be the same as it is for already established dentists, doctors, etc....

More competition, worse economy, people feeling more and more entitled by the year... Life simply is not going to be as good as it was going into the future(but it'll still be better than most of the world, and population since you are still a dentist making good money)... I mean our government is in trillions of dollars of debt....
 
Last edited:
I don't think you ever understood the idea of a goal and desire to be in this field to begin with. I think people like you should have been filtered out during the interview and thrown out in the first place. You're obviously going for the money and fame, which I suggest you should have gone for MBA, not dentistry. You also sound very bitter and angry at the field. So please spare everyone who is still living in hope to become a dentist one day for the sake of loving that field and working with patients in need. I can assure everyone, that health clinics are always looking which pays 120-150k plus 25k for loan forgiveness. If you have no experience to begin with, why would you open your own practice when you just graduated???

Physician is not for everyone as dentist is not for everyone (i.e. You). It's important to go for a career that you care about and not one for money sake. Because then you'll end up like..... Well you can figure it out.

this is the most naive answer I have ever heard ... LOL.
 
We can all disagree to agree. We're all well aware of the 250-400k debts. We were told that ahead of time and looked into it ourselves. It's not a 2 cent info. Thank you for the info that all you guys are presenting to us, but we're still going to ride it through despite your effort to convince us otherwise. I'm still young (definitely not 19 though) and naive, but I'm going to learn my way, not through a post on SDN. And if im suicidal and struggling in the future, I'll come back here and say you were right.

But I'm going to live life without fear of other people's advice. Yeah, I'm naive and a fool whatever. Pre-dents, don't lose hope in your goals. Keep applying and keep trying.
 
Are you guys being serious? A bunch of 19 year olds telling a dentist how to run his practice as if he doesn't know? "Yeah, all you gotta do is advertise! You should have been weeded out during the interview! You can't get patients? You must be a bad dentist! Every single article I read on the internet (read: not the real world) says so!"

Dude, come on you know our egos are at least as big as our application fees. 😛

Part of being an adult/an educated person, is being able to entertain ideas you might not necessarily agree

It's a shame more and more kids are coming out of college not being able to think this way.

http://www.theatlantic.com/magazine/archive/2015/09/the-coddling-of-the-american-mind/399356/

(To everyone else: Read. This. Article. It's very long, but trust me, it is becoming a very real problem for the future of education.)
 
Imaging a 19 year old pre-med in an operating room berating the heart surgeon for not doing his job right. He'd probably be laughed out of the room. That 19 year old is SDN...
Who in here told the OP that he was doing anything wrong clinically? What if that predent has a business degree and he's telling the heart surgeon how he's running his business wrong after he came into the operating room crying that he's not making any money? Would the predent get laughed at, or the surgeon?
Who are you assume anything about anyone here? Or to discredit someone else's comments because they conflict with the almighty dentist? Are you a dental student? Dentist? Professor?
I can assure you that I'm not 19 years old. I can also promise you that I have worked a lot more than one day in my life.
 
Who in here told the OP that he was doing anything wrong clinically? What if that predent has a business degree and he's telling the heart surgeon how he's running his business wrong after he came into the operating room crying that he's not making any money? Would the predent get laughed at, or the surgeon?
Who are you assume anything about anyone here? Or to discredit someone else's comments because they conflict with the almighty dentist? Are you a dental student? Dentist? Professor?
I can assure you that I'm not 19 years old. I can also promise you that I have worked a lot more than one day in my life.
Lol have you ever been in an OR? The surgeon would definitely not be the one getting laughed at ...
 
Lol have you ever been in an OR? The surgeon would definitely not be the one getting laughed at ...
Ok. What if they had the exact conversation in a conference room full of business consultants? The focus is not the setting but the conversation.
My point is that no one was criticizing his ability in any specific clinical competency. The focus is business.
Maybe it's not the naive predents who refuse to hear the truth from the dentist, but the stubborn dentist who refuses to get a reality check from someone more knowledgeable in a particular field, and who happens to be a predent.
 
Ok. What if they had the exact conversation in a conference room full of business consultants? The focus is not the setting but the conversation.
My point is that no one was criticizing his ability in any specific clinical competency. The focus is business.
Maybe it's not the naive predents who refuse to hear the truth from the dentist, but the stubborn dentist who refuses to get a reality check from someone more knowledgeable in a particular field, and who happens to be a predent.

You can get whatever advising you want in the world, that will not reduce your 400k loan by a dime.
Maybe, just maybe, you should not assume that dentists who are not doing well today are financially stupid.
 
But I'm going to live life without fear of other people's advice. Yeah, I'm naive and a fool whatever. Pre-dents, don't lose hope in your goals. Keep applying and keep trying.
Take students like you and add unlimited loans our generous government provides everyone with, and you get what we have today: schools capitalizing on stupidity of students with no change in sight.

b4z1gi.jpg
 
Last edited:
The other thing I want to point out is that these threads are appearing more and more frequently over the years.

Do you guys actually think people would post these threads if there weren't actually signs of trouble?

The pharmacy forum had these threads for years - since at least 2008 - before anyone took them seriously. Then suddenly **** hit the fan, and people acknowledged that the job market sucked, and half their graduating class couldn't find a job.

People here keep ignoring it, and ignoring it - wanting every single thread to match their preconceived notions about what they want the field to be like. It's scary how strong this SDN groupthink is. Part of being an adult/an educated person, is being able to entertain ideas you might not necessarily agree with

Meanwhile, we have a bunch of 19 year old pre-dents who have - quite literally - never worked a day in their lives - telling a dentist how to advertise, how to talk to patients, what "he's doing wrong"

Imaging a 19 year old pre-med in an operating room berating the heart surgeon for not doing his job right. He'd probably be laughed out of the room. That 19 year old is SDN...

You make valid points.. But it's not really healthy for discussion when you generalize all of SDN.
SDN has people from all walks of life. I'm a non-trad applicant older than most SDN and currently work at a dental office as an office manager/assistant.
I've seen others who are married with kids, those who are army veterans, those changing from another career, etc.

Saturation is indeed a problem in many cities and even suburbs. In my short 15 minute drive to work, I pass by more dental offices than I can count.
However, there is a real shortage in some rural areas.. it makes me think about how neglected some areas are and what we are doing as a country to address these issues.
We can't really blame dentists for not choosing to go to a rural area. Dentists should and do have the freedom to choose where they practice.
Maybe there should be some incentive to go rural since the $$ advantage is clearly not enough for most dentists.
 
You can get whatever advising you want in the world, that will not reduce your 400k loan by a dime.
Maybe, just maybe, you should not assume that dentists who are not doing well today are financially stupid.
That is a very general and naive statement. That's exactly what it will do. I encourage you to speak to a financial advisor to learn your options. Believe it or not, you DO have options. If you decide not to take advantage of those options, then it's a CHOICE and you have no one to blame but yourself.
An advisor can also help with reducing costs and increase earnings, offsetting the loan payments to net a larger income. Not to mention maximizing shelters to reduce tax liabilities.
Also I never assumed that dentists who are not doing well are financially stupid, so please do not put words in my mouth. So maybe, just maybe, you should make sure you know what you're talking about before you make such claims when you have nothing to back them.
 
In this thread - every single pre-dent acting like they know more than a 35 year old, practicing dentist.

Are you guys being serious? A bunch of 19 year olds telling a dentist how to run his practice as if he doesn't know? "Yeah, all you gotta do is advertise! You should have been weeded out during the interview! You can't get patients? You must be a bad dentist! Every single article I read on the internet (read: not the real world) says so!"

The naivety would be almost humorous, if it weren't so sad

SDN confuses me so much sometimes. Here's a practicing dentist, who comes in and give his 2 cents, and a bunch of 19 year old pre-dents rip him apart because he's not telling them the fantasy they want to hear. ("Yeah, I got out, got a 250k associating job, bought a ferarri, paid off my loans in 3 years...." No. Just no.)

I think the issue here is that a lot of the people here don't want/can't bear to hear the truth... because it would involve rewriting years of their life to focus on something different. It's hard - it is - and many people who were pressured to go into a health field by their family, or perhaps where looking for it to be the "holy grail" of careers .... Or perhaps because they didn't have the drive/mental fortitude to tough it out through med school (yes, a divisive, but somewhat true statement - as much as many people here hate to admit)

There is no magic bullet career wise. Pick something you like - not because you read about it on some internet pre-med forum, but because you truly find it interesting.

If all you care about is the money - Software engineering is exploding, and is here to stay. They make ~100k plus benefits. Many business careers are also exploding - the recession is over and businesses are hiring like mad. Check out this article: http://www.financialsamurai.com/how-to-make-six-figures-income-at-almost-any-age/

I'm sure most of you care about dentistry with all your heart. But life isn't a zero sum game. There isn't just "one" career you're destined to be in - and MOST people would be happy in a wide variety of careers - in fact, most people switch several times in their lives. It's nothing to be ashamed about. It's nothing to be scared about.

It's just life...
Again, predent does not mean a person with no experience, no friends or even 19 y.o.
OP tells a lot of things, which are not true. Basically a lot of personal experience, which is not going to be the same for everyone.
I know people, who work for $500-600 a day and I also know people, who make $350,000 a year at the corporate office 2 years out of school with $200, 000 their first year. This means, that all depends on a personal desire to succeed
It has become a lot more difficult to make money, everywhere actually, we just need to adjust
 
Advertisement - Members don't see this ad
Again, predent does not mean a person with no experience, no friends or even 19 y.o.
OP tells a lot of things, which are not true. Basically a lot of personal experience, which is not going to be the same for everyone.
I know people, who work for $500-600 a day and I also know people, who make $350,000 a year at the corporate office 2 years out of school with $200, 000 their first year. This means, that all depends on a personal desire to succeed
It has become a lot more difficult to make money, everywhere actually, we just need to adjust


Anecdotes don't prove that OP is wrong. What we do know is that the average general dentist is making in the low to mid 100's and that most dental students graduate with hundreds of thousands of dollars of debt. That $300-400k debt comes with a vicious interest that very well may metastasize into a million dollars. OP brings a lot of legit points to the table that shouldn't be ignored. Adjusting to difficult times isn't as simple as saying that will we adjust.
 
In this thread - every single pre-dent acting like they know more than a 35 year old, practicing dentist.

Are you guys being serious? A bunch of 19 year olds telling a dentist how to run his practice as if he doesn't know? "Yeah, all you gotta do is advertise! You should have been weeded out during the interview! You can't get patients? You must be a bad dentist! Every single article I read on the internet (read: not the real world) says so!"

The naivety would be almost humorous, if it weren't so sad

SDN confuses me so much sometimes. Here's a practicing dentist, who comes in and give his 2 cents, and a bunch of 19 year old pre-dents rip him apart because he's not telling them the fantasy they want to hear. ("Yeah, I got out, got a 250k associating job, bought a ferarri, paid off my loans in 3 years...." No. Just no.)

I think the issue here is that a lot of the people here don't want/can't bear to hear the truth... because it would involve rewriting years of their life to focus on something different. It's hard - it is - and many people who were pressured to go into a health field by their family, or perhaps where looking for it to be the "holy grail" of careers .... Or perhaps because they didn't have the drive/mental fortitude to tough it out through med school (yes, a divisive, but somewhat true statement - as much as many people here hate to admit)

There is no magic bullet career wise. Pick something you like - not because you read about it on some internet pre-med forum, but because you truly find it interesting.

If all you care about is the money - Software engineering is exploding, and is here to stay. They make ~100k plus benefits. Many business careers are also exploding - the recession is over and businesses are hiring like mad. Check out this article: http://www.financialsamurai.com/how-to-make-six-figures-income-at-almost-any-age/

I'm sure most of you care about dentistry with all your heart. But life isn't a zero sum game. There isn't just "one" career you're destined to be in - and MOST people would be happy in a wide variety of careers - in fact, most people switch several times in their lives. It's nothing to be ashamed about. It's nothing to be scared about.

It's just life...

or, just maybe, some of us have experience in what we are relating here, maybe we've talked to dentists in OUR area, got the lowdown from them, not from ONE dentist 1/2 way across the country that didn't do his homework before he set up his practice??? I would never consider setting up a practice in a saturated ares, it's not hard to figure out which areas are saturated either....drive around the town for 1/2 an hour and count the dental practices--or better yet, look online and see how many dentists are in the area and so some math.

I find the medical comment highly offensive. Most people here were never considering medical school as an option and not because they don't have the drive or mental fortitude to do the job but simply because they didn't want to.....or maybe you are just projecting your own failure in that area.

No one pressured me to do anything. Dentistry is a profession I chose because of my experiences. My parents could care less what I do for a living as long as I don't end up living in their basement playing video games for the rest of my life. I'm sorry your parents pressured you into dentistry.

Aside from a few trolls, no one here is in it just for the money. Sure, it's nice to know that you will be rewarded in the end, but if you are only in ANY career for the money, you will fail, eventually. I for one would HATE to work in software engineering. I have some friends in that field/going into that field and that is great for them. Making 100K in that field, however, is not as easy as you make it sound. It's a HIGHLY competitive field and for most people it takes many years to make 6 figures, or if they start at 100K, they are living in Silicon Valley where a studio apartment rents for $3000/month so that 100K doesn't go very far!
 
That is a very general and naive statement. That's exactly what it will do. I encourage you to speak to a financial advisor to learn your options. Believe it or not, you DO have options. If you decide not to take advantage of those options, then it's a CHOICE and you have no one to blame but yourself.
An advisor can also help with reducing costs and increase earnings, offsetting the loan payments to net a larger income. Not to mention maximizing shelters to reduce tax liabilities.
Also I never assumed that dentists who are not doing well are financially stupid, so please do not put words in my mouth. So maybe, just maybe, you should make sure you know what you're talking about before you make such claims when you have nothing to back them.

I think what @allantois meant was that you cannot erase $400K of debt immediately upon leaving dental school. You can lower the interest rate/refinance by SoFi, take an NHSC contract, but you can't actually do anything to remove the debt without working. It's a fair point he made.

Also, FWIW, I'm a believer in the fact that I can handle my money better than financial advisors can, IF and ONLY IF, I do my research and learn. This is because I have much more of a personal stake in the growth of my wealth than any financial advisor could possibly have.

Example: I currently have a brokerage account and am involved in passive index investing. My fund has done very well in the past, and it has one of THE LOWEST expense ratios in the country- less than 0.10%! A comparable fund with other companies could be up to 1% expense ratio. A tenfold increase.

Oh and I found this fund on my own with just a few hours of research. A personal financial advisor would have steered me towards his company's for-profit fund that benefits the company's shareholders, not the fund's investors.

You will ALWAYS be able to manage your money better than a financial advisor, assuming you possess even a modicum of interest in investing.

For those of you who want an anecdotal (but funny) example to see just how useless financial advisors and planners can be, check this article out: http://livingafi.com/2015/01/27/a-date-with-fidelity/
 
Last edited:
I think what @allantois meant was that you cannot erase $400K of debt immediately upon leaving dental school. You can lower the interest rate/refinance by SoFi, take an NHSC contract, but you can't actually do anything to remove the debt without working. It's a fair point he made.

Also, FWIW, I'm a believer in the fact that I can handle my money better than financial advisors can, IF and ONLY IF, I do my research and learn. This is because I have much more of an personal stake in the growth of my wealth than any financial advisor could possibly have.

Example: I currently have a brokerage account and am involved in passive index investing. My fund has done very well in the past, and it has one of THE LOWEST expense ratios in the country- less than 0.10%! A comparable fund with other companies could be up to 1% expense ratio. A tenfold increase.

Oh and I found this fund on my own with just a few hours of research. A personal financial advisor would have steered me towards his company's for-profit fund that benefits the company's shareholders, not the fund's investors.

You will ALWAYS be able to manage your money better than a financial advisor, assuming you possess even a modicum of interest in investing.

For those of you who want an anecdotal (but funny) example to see just how useless financial advisors and planners can be, check this article out: http://livingafi.com/2015/01/27/a-date-with-fidelity/
Yes, the loan will not just disappear. But there are loan repayment and forgiveness options. You do have to work for but, but you're still getting paid for that as well. The options are there.
You have a wise approach on the matter. Doing some research and having some accountability should hopefully yield successful results.
When things don't work out our way it's very easy to put the blame on anything but ourselves. We use it as a defense mechanism to protect ourselves from the realization of our own shortcomings. It's one thing to do it to ourselves, but projecting it on people who are impressionable is very irresponsible.