- Joined
- Jun 17, 2004
- Messages
- 268
- Reaction score
- 279
I just finished my first year as a practicing dentist. For those students who are interested I thought I would share my experience.
I took a job offer from a corporate company. I got the job offer in December before I graduated. They offered me 132K plus benefits if I collected more money than my salary I would be paid the difference. I decided to go corporate because I thought that I would make more money right out of school and because I figured that I would see more patients than if I took an associate position at a private office.
The hardest part of starting my career was learning how to treatment plan a case in five minutes. After a couple days it becomes second nature. I was so tired for the first couple weeks then you eventually get used to it.
I started working 28 hours two weeks out of the month and then 32 hours the other two weeks. It was awesome. So much better than school. I realized quickly that dentistry was a hidden gem we dont work very hard (relative), we work few hours, and we make above average income. I enjoyed my days off and getting my feet wet with dentistry.
Financial
My biggest problem with the company is that I get paid on collections not production. I understand why they do this but I hate it. I net produced (production write offs, adjustments, discounts, refunds) 812K for the year. I averaged a 36 hour work week. My take home from this was 226K. I paid 74K in taxes. The kicker here is that I actually produced 252K! So I still have some receivables out there. Im averaging 90% collections so I should eventually end up with more money. As far as money goes there was plenty to go around the first year. I still lived frugal for the most part..had reasonable housing arrangements, bought a new accord instead of something fancier .ect. It was a lot of fun to finally start making money in my life.
Loans:
I took out 274.5K in student loans. I left school with a total of 306K with loans and accrued interest. I switched to the extended payment plans and ended up with a total payment of around $2,100 a month. I used the full grace period and didnt start making payments on my loans till December of my first year out. I paid off two of my loans for a total of 61K during the year which lowered my monthly payment to $1,600 a month. Im excited about paying the next 30K note off in August which should put me down to
around $1,300 a month.
Best Tech.
1)Isolite
2)Periolase
3)system B+ Obtura
Biggest Complications:
1) Sodium Hypochlorite accident (not directly my fault)
2) One palatal root elevated into the sinus
Overall I feel blessed to have a job. I love dentistry and what the field has to offer. I see a very bright future in the short and the long term. For those still in school hang in there. Life gets significantly better when you graduate!
I took a job offer from a corporate company. I got the job offer in December before I graduated. They offered me 132K plus benefits if I collected more money than my salary I would be paid the difference. I decided to go corporate because I thought that I would make more money right out of school and because I figured that I would see more patients than if I took an associate position at a private office.
The hardest part of starting my career was learning how to treatment plan a case in five minutes. After a couple days it becomes second nature. I was so tired for the first couple weeks then you eventually get used to it.
I started working 28 hours two weeks out of the month and then 32 hours the other two weeks. It was awesome. So much better than school. I realized quickly that dentistry was a hidden gem we dont work very hard (relative), we work few hours, and we make above average income. I enjoyed my days off and getting my feet wet with dentistry.
Financial
My biggest problem with the company is that I get paid on collections not production. I understand why they do this but I hate it. I net produced (production write offs, adjustments, discounts, refunds) 812K for the year. I averaged a 36 hour work week. My take home from this was 226K. I paid 74K in taxes. The kicker here is that I actually produced 252K! So I still have some receivables out there. Im averaging 90% collections so I should eventually end up with more money. As far as money goes there was plenty to go around the first year. I still lived frugal for the most part..had reasonable housing arrangements, bought a new accord instead of something fancier .ect. It was a lot of fun to finally start making money in my life.
Loans:
I took out 274.5K in student loans. I left school with a total of 306K with loans and accrued interest. I switched to the extended payment plans and ended up with a total payment of around $2,100 a month. I used the full grace period and didnt start making payments on my loans till December of my first year out. I paid off two of my loans for a total of 61K during the year which lowered my monthly payment to $1,600 a month. Im excited about paying the next 30K note off in August which should put me down to
around $1,300 a month.
Best Tech.
1)Isolite
2)Periolase
3)system B+ Obtura
Biggest Complications:
1) Sodium Hypochlorite accident (not directly my fault)
2) One palatal root elevated into the sinus
Overall I feel blessed to have a job. I love dentistry and what the field has to offer. I see a very bright future in the short and the long term. For those still in school hang in there. Life gets significantly better when you graduate!