Also, this is clearly a premed/healthcare oriented forum so you have to realize that very few PhDs without MDs are even seeing your question, let alone replying to it. If you posted your question over at Gradcafe you'd have a very different readership and likely different responses. People often chose to see the positive in their own in-group, which isn't a bad thing as long as one acknowledges the bias. I think you've got enough replies, with many nuggets of wisdom (
@aaugh clearly knows of what they speak), but I just thought it was worthwhile to point out the context in which your question was asked.
At the risk of resurrecting a moderately stale thread, I have to chime in here. I am a PhD sans MD; I’m currently working as a basic scientist faculty member in a Top 25 school.
My stereotype of an MD working in research is that they’ve taken a clinical question, analyzed the data at their institution, and are now presenting it at a conference. Advantages include direct clinical relevance; disadvantages include less critical thinking. For example, they might take a statistical test at face value without thinking through all of the assumptions. The test might not really be relevant to their questions.
My stereotype of a PhD working in medical research is the inverse: they might have a very deep understanding of the basic components of the system but it may be harder to connect this to patient care. Wandering for 5 years somewhat aimlessly during the PhD process can help build a basic understanding because you start to ask “why” to everything.
An MD/PhD has dual training. When I interface with one as a researcher, I can generally expect that I can talk at a more basic level than I could otherwise. Rather than simply talking through patient management, I would expect that they can better comment on the underlying data, how it could be extrapolated, etc.
On the spectrum of basic vs translational vs clinical work, I think PhDs are best at basic research, MDs are best at clinical work, and dual training might be best in translational work where you can appreciate both conversations fully.
I don’t really bother with “prestige.” Everyone around me has lots of degrees. It doesn’t really matter. Any graduate with any degree might have been a superstar or just scraped by. As an undergraduate I felt a distinction between different levels of prestige. Now maybe I’ve just become habituated.
To the OP, commenting on graduation times: I’ve observed that this isn’t a function only of work accomplished but also field norms. A third-year grad student might have a great discovery that would be enough for a hitherto unproductive 7th year student to graduate. But because there are only in Year 3, their PI thinks, this is great talent, let me keep them around for another two years. When someone is “ready” to graduate is unfortunately highly subjective, and for MD/PhDs I think the bias is to push them a little bit earlier and also to pick safer projects too.