financials of doctor vs. nypd

[bonvoyage]

so some people say that people go into medicine for the money. police is considered to be a blue collar job. so lets compare nypd and an average specialist. i'll pick his salary to be $200k/yr because who knows which specialty will be overpaid or underpaid in the future. i'll park the starting age to enter the police or med school as 25 because thats my age. u could really start either one at 21.
the police pay does not include overtime. any time you work over 40hrs/wk you incure extra salary at 1 1/2 rate per hour. but of course you then often work those extra hours when you're supposed to be sleeping. you cant get overtime whenever you wish. it's more likely that you have a shift from 4pm to 12am and you made an arrest at 11pm. it may happen that you'll have to read a book all night long while waiting for the district attorney to talk to you about that case in the morning. when you go to court you're also paid ot.

so:
age --nypd-- med school
25 --46k-- 0
26 --48k-- 0
27 --54k-- 0
28 --59k-- 0
29 --62k-- 50k
29.5 --69k--
30 --91k-- 50k

now a seargeant gets 110k/yr +overtime and it is very likely that you'd be a sergeant within 5yrs if you're smart enough to get into med school. after that you may consider the police salary to flatten out, because admin jobs are not as easy to come by and the increases are obviously not so dramatic. but after 20yrs(at 45) you get pension from 1/2 the salary of your last year of work. that means if you're a luitenant or captain or even a mere sergeant with a lot of overtime, you could get a pension of $100k/yr. average pension is $59k/yr.

do you think a dr could surpass the cop financially before the cop retires at 45 and moves to a low col place like greece?

of course the doctor might try to make up some of the money by working from the start in a low col area like alabama. but he would have to stay there if he wants to keep on making $$.

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[DrYoda]

Alot of cops retire as soon as their eligible for full retirement, then they go get another cop job. Some cops do pretty nice financially with this deal.

But lets be honest, if someone wanted to make absolut bank they would be pretty stupid to try and pull it off as a doctor. The cost benefit ratio for physicians isn't that great when you crunch the numbers. You'll make a good living for sure, but there are alot of ways to do that. Some just aren't as prestigious.

 

[bonvoyage]

Alot of cops retire as soon as their eligible for full retirement, then they go get another cop job. Some cops do pretty nice financially with this deal.

But lets be honest, if someone wanted to make absolut bank they would be pretty stupid to try and pull it off as a doctor. The cost benefit ratio for physicians isn't that great when you crunch the numbers. You'll make a good living for sure, but there are alot of ways to do that. Some just aren't as prestigious.

if you can get like an $80k/yr pension i dont see the appeal of another job. you could just buy a yacht and travel around the world. can you get an $80k/yr pension as a doctor at 45 if you started making real money at 35? can you even do it at 50? keep in mind the taxes.

 

[PainKiller69]

if you can get like an $80k/yr pension i dont see the appeal of another job. you could just buy a yacht and travel around the world. can you get an $80k/yr pension as a doctor at 45 if you started making real money at 35? can you even do it at 50? keep in mind the taxes.

Take the money and run, piglet! 🙂👎

 

[DrYoda]

if you can get like an $80k/yr pension i dont see the appeal of another job. you could just buy a yacht and travel around the world. can you get an $80k/yr pension as a doctor at 45 if you started making real money at 35? can you even do it at 50?

80k a year isn't a bad income, but you won't live large on it. Nor will most cops pull that much of a pension. Which is why alot of cops do(i know some personally) "retire" and go directly back to work.

I personally wouldn't know what to do with myself if I was retired before 60, the american urge for early retirement is something I fail to comprehend.

 

[Bacchus]

Keep in mind that working on the streets, especially in a metropolitan area, your life can be at stake every day.

 

[Twiigg]

I like these threads! They open my mind to other possibilities. 🙂

 

[bonvoyage]

80k a year isn't a bad income, but you won't live large on it. Nor will most cops pull that much of a pension. Which is why alot of cops do(i know some personally) "retire" and go directly back to work.

I personally wouldn't know what to do with myself if I was retired before 60, the american urge for early retirement is something I fail to comprehend.

if you are a cop in a small town, then the salary and the pension are much smaller. but in nyc and la you indeed barely survive on $100k/yr. to get $80k/yr pension you either need to be a captain in nypd without any ot or a detective with a lot of ot or a liutenant with a little ot.

sure you will not be rich as a cop. but no one said they were rich. they are the epitome of middle class. but how exactly do doctors get to live the upper class lifestyle? you know, a nice pedicure in waldorf-astoria or a breakfast in bed in your ski chalet in the alps? doctors cant even afford to get the middle class $80k/yr pension at 45, or at 50. or maybe drs consider themselves upper class because they are educated and some of their colleagues are super rich (due to having worked for 50yrs or an inheritance)?

if i were retired i could get a yacht and sail around the world. or i could play golf all day. or i could play chess in some old european town. or maybe just party it up with some hot younger women. or maybe help my kids with their homework.

 

[bonvoyage]

Keep in mind that working on the streets, especially in a metropolitan area, your life can be at stake every day.

if it's such a concern to you, you can really limit your time on the streets. work for a few years and then transmit to the admin side. you can also try to get assigned to boat patrol units or something else that avoids indigenous people contact... how many cops get killed in the line of duty? -not many.

 

[175961]

you thinking about going into law enforcement bonvoyage??? if so, rock on!!!!!!! thats what I'm thinking about doing too👍

 

[UNMorBUST]

I've heard this arguement before.

 

[Bacchus]

if it's such a concern to you, you can really limit your time on the streets. work for a few years and then transmit to the admin side. you can also try to get assigned to boat patrol units or something else that avoids indigenous people contact... how many cops get killed in the line of duty? -not many.

You clearly haven't been following Philadelphia -- too many. This is a poor argument. Just because not a lot of cops are killed doesn't make the job any more desirable. Life is priceless.

 

[UNMorBUST]

Life is priceless.

QFT. I admire people who are police officers, they are brave individuals.

 

[bonvoyage]

you thinking about going into law enforcement bonvoyage??? if so, rock on!!!!!!! thats what I'm thinking about doing too👍

really you are?? i am in the middle of the med school application cycle... considering i've invested so much, it is very unlikely i will suddenly switch gears now. but if i get rejected everywhere, let's just say it's a possibility. anyway, are you sarcastic or where are you in the process?

 

[cbrons]

I was a law enforcement and justice administration major before switching to psychology & pre-medicine. Suffice it to say, a lot of those kids have some really good deals. While many of my friends will be out making a living next year, I'll be stuck in a classroom, studying pretty much every waking hour D :

 

[cbrons]

being a cop is no joke though, lots of danger associated with the job. I don't think i would have liked it as much, i wanted to do something federal anyway.

 

[175961]

really you are?? i am in the middle of the med school application cycle... considering i've invested so much, it is very unlikely i will suddenly switch gears now. but if i get rejected everywhere, let's just say it's a possibility. anyway, are you sarcastic or where are you in the process?

I'm as serious as can be about it. I'll be taking the MCAT and applying next year....but if I dont get accepted I wont be heartbroken because I'm just as interested in law enforcement. I'm also considering the FBI since I'll have a degree

 

[bonvoyage]

You clearly haven't been following Philadelphia -- too many. This is a poor argument. Just because not a lot of cops are killed doesn't make the job any more desirable. Life is priceless.

havent heard about philadelphia. do they get paid well? i heard that some cities have very good deals but it's impossible to get hired(boston). i guess im not at the point where i would research the pd's too deeply. but i can say you are definitely wrong. if not a lot of cops get killed it means that the job is relatively safe. i didnt say anything about it being more desirable. chances are you can pick the best or the worst job out there and you still won't get killed. i see your point, if you're worried about getting killed all the time, police work is not for you. but really the major deterrent for most people is that they dont want others to say "you're a cop? you're dating a cop? your son is a cop? your father is a cop? that sucks man". if people were all that scared about getting hurt, then snowboarding, skating,etc businesses would all go out of business.

 

[xanthomondo]

At least it wasn't engineer vs. doctor.

Wisconsin, is that you?

 

[Bacchus]

We do plenty of things that can result in death daily. Crossing the street is full of perils depending where you live. You can't avoid certain things. Skiing, snowboarding, etc. are risks that people take. If you're skilled you more than likely will not hurt yourself. There is a big difference between taking on risks that you can more or less control (following traffic guidelines, training before boarding) and risks that you can't control (someone slinging lead at you).

 

[bonvoyage]

I was a law enforcement and justice administration major before switching to psychology & pre-medicine. Suffice it to say, a lot of those kids have some really good deals. While many of my friends will be out making a living next year, I'll be stuck in a classroom, studying pretty much every waking hour D :

keep in mind that if it's rural midwest, it's a completely different deal. i mean there are some rich suburbs like suffolk county in ny or most of coastal california, but in most of the rural areas the pay sucks and if you want a highly ranked admin job, it's hard to come by. and obviously they cannot afford the same pension.. i think los angeles, nyc, and chicago are places where it's easy to get a job and if you stay in 5+ years, you can make a living. and at the same time most residents of big cities look down on cops, while in smaller towns with their smaller salaries there is still no shortage.

 

[cbrons]

keep in mind that if it's rural midwest, it's a completely different deal. i mean there are some rich suburbs like suffolk county in ny or most of coastal california, but in most of the rural areas the pay sucks and if you want a highly ranked admin job, it's hard to come by. and obviously they cannot afford the same pension.. i think los angeles, nyc, and chicago are places where it's easy to get a job and if you stay in 5+ years, you can make a living. and at the same time most residents of big cities look down on cops, while in smaller towns with their smaller salaries there is still no shortage.

The rural midwest is where we go to school. We're all from the city (Chicago) or the burbs.

 

[bonvoyage]

being a cop is no joke though, lots of danger associated with the job. I don't think i would have liked it as much, i wanted to do something federal anyway.

fbi make you do a polygraph test (they will ask you lots of embarassing questions), the whole process is very long, and you end up with a lower salary and lower pension. of course they have "respect" if it's really important.

 

[175961]

fbi make you do a polygraph test (they will ask you lots of embarassing questions), the whole process is very long, and you end up with a lower salary and lower pension. of course they have "respect" if it's really important.

as do law enforcement agencies....but probably not as in depth as the feds do

 

[Pinkertinkle]

Time value of money is screwed these days, favors late high salary over early steady salary.

 

[bonvoyage]

I'm as serious as can be about it. I'll be taking the MCAT and applying next year....but if I dont get accepted I wont be heartbroken because I'm just as interested in law enforcement. I'm also considering the FBI since I'll have a degree

thats cool. if you're studying for mcat now, i would completely forget about police work meanwhile or read about how cops get paralyzed by being in the wrong place at the wrong time. i remember when i studied for mcat i was completely unproductive whenever i thought about any other careers positively or whether medicine sucked. better to pick some good specialty in medicine, maybe read a book about medicine, and think positively and not read premed forums. i did very well on mcat but so far have only 1 interview. the rest of my application kind of sucks. but now i have plenty of time to think..

 

[bonvoyage]

At least it wasn't engineer vs. doctor.

Wisconsin, is that you?

no. link to the thread/guy? i do have interest in reading about wisconsin and about engineering. though i was not an engineering major..

 

[175961]

thats cool. if you're studying for mcat now, i would completely forget about police work meanwhile or read about how cops get paralyzed by being in the wrong place at the wrong time. i remember when i studied for mcat i was completely unproductive whenever i thought about any other careers positively or whether medicine sucked. better to pick some good specialty in medicine, maybe read a book about medicine, and think positively and not read premed forums. i did very well on mcat but so far have only 1 interview. the rest of my application kind of sucks. but now i have plenty of time to think..

thats funny that you mention it. If I have my computer on at my desk while trying to study I will start looking at at different police department websites and reading all about them and pretty much waste a couple of hours thinking about doing that as a career

 

[Dr Lyss]

my dad is a retired nypd detective (svu). he did well but it definitely wasn't a walk in the park. He worked crazy hours and slaved over his job until he hit 20 years. Can you get "rich" off of nypd or being a cop? yes... but most break even.

 

[175961]

my dad is a retired nypd detective (svu). he did well but it definitely wasn't a walk in the park. He worked crazy hours and slaved over his job until he hit 20 years. Can you get "rich" off of nypd or being a cop? yes... but most break even.

how did this affect your family and all??

I'm not joking with this question, perhaps you can PM me that answer if you prefer

 

[bonvoyage]

We do plenty of things that can result in death daily. Crossing the street is full of perils depending where you live. You can't avoid certain things. Skiing, snowboarding, etc. are risks that people take. If you're skilled you more than likely will not hurt yourself. There is a big difference between taking on risks that you can more or less control (following traffic guidelines, training before boarding) and risks that you can't control (someone slinging lead at you).

lol "someone slinging lead at you", is that from some movie? i doubt cops talk that way. so should people not take risks like skiing and snowboarding? i mean some runs down the mountain are dangerous even for world class skiers(it also depends on whether you go fullspeed or keep it safe) and it's not fun to go down baby runs once youve reached a certain skill level. if a world class skier lost control and had his leg severed below his knee, does it mean that he is crazy and it's his fault? i think things happen and you shouldnt worry about it. if over 10% of cops got killed or disabled on the job, it would be a different story.. but the way it is, i wouldnt take job safety into consideration.

 

[deleted74029]

This forum cracks me up sometimes.

 

[Dr Lyss]

Well I know it wasn't always a selling point with any potential boyfriends haha. It was stressful but it largely depends on the unit you work in. He wasn't home much. NYC is no joke and you don't want your kids wondering of their dad is going to get shot or something like that. When my dad had kids he switched from narcotics to svu because it was "safer." Also my dad was working during 9-11 which was troubling to say the least... needless to say I'm happy he is out & he is still working but not in anything nearly as stressful as chasing rapists... and retiring before 50 is definitely a plus.

Any one thinking about NYPD or something like that and has questions feel free to PM me

 

[Bacchus]

lol "someone slinging lead at you", is that from some movie? i doubt cops talk that way. so should people not take risks like skiing and snowboarding? i mean some runs down the mountain are dangerous even for world class skiers(it also depends on whether you go fullspeed or keep it safe) and it's not fun to go down baby runs once youve reached a certain skill level. if a world class skier lost control and had his leg severed below his knee, does it mean that he is crazy and it's his fault? i think things happen and you shouldnt worry about it. if over 10% of cops got killed or disabled on the job, it would be a different story.. but the way it is, i wouldnt take job safety into consideration.

My life is too valuable to me to go into that field of work. I ski, within my means. Accidents happen, but accidents such as ski accidents are risks we take because we feel comfortable and confident in our abilities. I doubt an officer feels he can outrun a bullet or survive a gunshot. I'm not going to change your opinion and you're not going to change mine so whats the point of going back and forth? I would not be a police officer because I feel the risk is too great.

 

[anythingover30]

Either way you go, doctors have much more earning power. Doctors make quite a bit more than cops per year and once they get out of residency and pay off their loans they can live a good life. Of course, many docs seem to be a little loose with their wallets. Either way you go, when making 200k plus per year it opens up a lot of possibilities for investing in businesses. I know several doctors and lawyers that own businesses along with practicing and get sweet little checks each month. You have to spend money to make money!!

 

[deleted74029]

Being a cop is friggin miserable. You do long hours, shift work with variable shifts, and it's not nearly as easy to advance as people seem to think. You need to balance being practicing defensive law enforcement in a legal sense and defensive law enforcement in the sense of not getting shot, which are almost always mutually exclusive. A lot of police departments these days are requiring either a college degree or 4 years of military experience just to be eligible to apply, they weed out a huge portion of their classes in the academy (exceptions: rural areas and New Orleans). If you want to advance you need to look into a Masters degree at the least while studying for standardized tests for advancement that you may or may not be allowed to take based on politics. Whoever said that anyone who can get into medical school can make seargent in 5 years, making 91K, obviously has no experience with the police force. No you aren't that smart, and even if you were it wouldn't matter.

And then the physicians' salary and lifestyle will flat out crush yours. I'm in a family that has both.

So, to sum up

1) Being a police officer isn't like being a garbage man. It requires a significant amount of education and sacrifice, so it makes sense that the salaries aren't all that low.

2) The salaraies aren't all that high. You will do better as a physician.

Finally, a voice of reason.

 

[xanthomondo]

no. link to the thread/guy? i do have interest in reading about wisconsin and about engineering. though i was not an engineering major..

How much could you earn as a:

?

 

[xanthomondo]

Ah, here it is. I love how every job in the world gets ~$5k raises per year, but doctors will never see a raise for as long as they breathe.

http://forums.studentdoctor.net/showthread.php?t=508719

 

[deleted74029]

Ah, here it is. I love how every job in the world gets ~$5k raises per year, but doctors will never see a raise for as long as they breathe.

http://forums.studentdoctor.net/showthread.php?t=508719

Yeah its really getting quite ridiculous, I like how that guy has the engineer's salary going up every year but keeps the physican's at a constant 132k once he gets out of residency.

 

[cbrons]

fbi make you do a polygraph test (they will ask you lots of embarassing questions), the whole process is very long, and you end up with a lower salary and lower pension. of course they have "respect" if it's really important.

They have an extremely long process... and are very selective... most agents have a.) a law degree, b.) an accounting degree... many with CPAs, c.) prior law enforcement and/or military experience. No one really "gets in" to the FBI without any of those unless you can speak Farsi or have some really specialized skill like that. They hire support staff with computer skills and the like, but mostly, agents are either lawyers or accountants.

Then again, you can retire at 45, go work for a major casino and make a lot of money (or do some similar job). The FBI gives you great credentials to work in top private sector jobs.

 

[Livingapparatus]

when did people start thinking that being a cop is a good idea?

 

[cbrons]

Ah, here it is. I love how every job in the world gets ~$5k raises per year, but doctors will never see a raise for as long as they breathe.

http://forums.studentdoctor.net/showthread.php?t=508719

why would you be just a doctor then? you can work in private practice and then do something else... own real estate, consult for lawyers (hopefully not the immoral tort *******s), own some other venture, teach part-time (if you aren't in a specialty that requires 80 hour work weeks, I think it'd be awesome to teach a class or two at community college).

now someone tell me how ignorant I am... there has to be certain doctors who have an active practice or are involved in one and still have time to do something else

or you can just get a wife who makes a decent wage too

 

[TehDoc]

My friends dad retired in his 40's and works another police related job. He lives nice, but not rich. Pay won't come close to most attending salaries.

 

[bonvoyage]

Originally Posted by Perrotfish
Being a cop is friggin miserable. You do long hours, shift work with variable shifts, and it's not nearly as easy to advance as people seem to think. You need to balance being practicing defensive law enforcement in a legal sense and defensive law enforcement in the sense of not getting shot, which are almost always mutually exclusive. A lot of police departments these days are requiring either a college degree or 4 years of military experience just to be eligible to apply, they weed out a huge portion of their classes in the academy (exceptions: rural areas and New Orleans). If you want to advance you need to look into a Masters degree at the least while studying for standardized tests for advancement that you may or may not be allowed to take based on politics. Whoever said that anyone who can get into medical school can make seargent in 5 years, making 91K, obviously has no experience with the police force. No you aren't that smart, and even if you were it wouldn't matter.

And then the physicians' salary and lifestyle will flat out crush yours. I'm in a family that has both.

So, to sum up

1) Being a police officer isn't like being a garbage man. It requires a significant amount of education and sacrifice, so it makes sense that the salaries aren't all that low.

2) The salaraies aren't all that high. You will do better as a physician.

Finally, a voice of reason.

interesting how easily a negative post about police catches on. you havent even bothered to check if information in this post were accurate. this post exactly summarizes how people in real life in nyc perceive police work(well maybe theyre even more negative). but i will try to correct some of the inaccuracies.

Long hours, shift work: actually the work week is 40hrs/wk. any shift work beyond that is overtime paid at an hourly rate of 1 1/2. the city often tries to hire more new policemen to prevent the veterans from getting too much overtime(effectively doubling their salary). EM is considered a lifestyle specialty and 48hrs/wk is considered too light for EM. Shift work is only when you're on patrol. Move up to detective or some other specialized unit and you may come to work 9-5 in a suit.

Sergeant and Liutenant exams are completely merit based, and anybody can take them after 3yrs with nypd. And trust me if I got 98%ile on mcat, it cant be too hard. not that im a genius or anything. Captain may require a masters degree(they will pay for you to attend georgetown for a year) and possibly connections.

Yes, NYPD requires 90credits of college or military experience. I am sure most premeds would not be deterred by this requirement. Usually a better argument is that this requirement is too lax and therefore you are surrounded by stupid coworkers, pigs, scum.

No, it is a regular nypd cop with 5yrs experience making $90k+overtime. A sergeant with 5yrs is making $110k+overtime.

Oh your father is a doctor? i guess then you are rich. But unless your father's father was also a doctor(or some other kind of professional), do you think he was rich when he conceived you? i know this sounds kinda stupid or blunt, but i am referring to my original post. At what age do you think an average specialist making $200k will surpass a cop financially? Is it before or after the cop retires?

No one claims that police officers are rich. but at what age do the doctors get their upper class lifestyles? not at 30 or 40 unless they have some family help(like marrying another doctor or having a father who's a dr or a senator). True, some doctors supplement their income with additional businesses. But considering that to start any business you need some middle class capital (like a $100k/yr salary) and a lot of free time, why wouldnt a cop do just as well as a dr with his spare time?

 

[Bacchus]

This doesn't come down to money. It comes down to your body being the stop for the bullet coming out of the rifle or handgun aimed at you. Its not worth it, at least for me.

 

[bonvoyage]

My friends dad retired in his 40's and works another police related job. He lives nice, but not rich. Pay won't come close to most attending salaries.

you are comparing people who are in their 40's. why do the old people even need all their money? if i were so rich that i didnt have to work, i would go sailing or mountain climbing. basically do something that doesnt require me to have a beeper, a cellphone, or to get up with an alarm clock. you cant do that if you work full-time even if you own a $10million house. oh and when you're in your 40's it is really lame to go to a nightclub to pick up college girls. especially if you have a wife and kids. so the point is that when person A may earn more money than person B throughout his lifetime, it needs to be consistent at all stages of life. when you are too old to have fun, it just doesnt count.

 

[bonvoyage]

They have an extremely long process... and are very selective... most agents have a.) a law degree, b.) an accounting degree... many with CPAs, c.) prior law enforcement and/or military experience. No one really "gets in" to the FBI without any of those unless you can speak Farsi or have some really specialized skill like that. They hire support staff with computer skills and the like, but mostly, agents are either lawyers or accountants.

Then again, you can retire at 45, go work for a major casino and make a lot of money (or do some similar job). The FBI gives you great credentials to work in top private sector jobs.

haha a perfect example of how the job is overhyped but in reality it is nothing. so they have to wait untill they turn 45 before they can look for those lucrative jobs in the casinos? and even then, theyre just cops with a different badge. they dont have the connections like foreign service officers or even lawyers or doctors. meanwhile untill they turn 45 they're not getting paid any more than regular cops. and if they dont end up with those lucrative jobs(that would prevent them from enjoying their retirement), they're left with a piss poor pension. but i agree, getting a job in fbi is tough. they contact your internet service provider and get a list of all the websites that you have visited. they will ask you about them during the polygraph... NYPD does not have a polygraph.

 

[202781]

I figure if I am expecting to make tons of $$$$ medicine will not be the way. To do this one must become famous, invent something, manipulate money in stocks, inherit it or become a rapper.

I am thinking I will become a rapper

I am dropping my debut album May 15th to help me make my decision...if it sells well then I will become the first MDMC. I was going to give you a taste of my album...but I think I may be banned from the forum (it only has some sexual and derogatory lyrical content) so until I receive word from THE GREAT ONE (a moderator) I will refrain.

 

[TexasTriathlete]

My mom lives in NYC and makes six figures. She lives in an efficiency apartment the size of a dorm room, because that's all she can afford.

 

[deleted74029]

My mom lives in NYC and makes six figures. She lives in an efficiency apartment the size of a dorm room, because that's all she can afford.

My dad makes 90k/yr and is about to purchase a 5 bedroom home. Yay Arkansas!!