For making money, medicine is your best bet.

[Ross434]

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Okay, here i'm comparing the viability (for money making) of a medical career versus other high paying fields.

I'm starting with a few assumptions for my argument (they may not apply to you, but lets say they hold true for the sake of what follows)

-I'm talking only about high achieving, smart students, who could get into medical school, a top law school, or a top business job. (ie: top 5-10% of their college class)

-I'm assuming that you are motivated by money and will go into whatever specialty/area will make the most. (my assessment will target making at least $1,000,000 a year net salary at top of career)

Okay, so. lets compare 3 paths. Law, Medicine, and Ibanking.

In I-Banking- I'll give you the benefit of having already obtained a summer internship or a bachelors degree entry level analyst position (which, btw, only about 5% of business students achieve). Now consider that approx. 70% of analysts at these banks will get in to a top business school afterwards. In order to come back and be re-hired by your old firm, you would probably have to be in the top half of your business school class. Now you're working an 80-100 hour a week job as an associate, making 200k to start with. Its not our target salary, so, lets consider that about 5% of these associates will become managing directors (the first of the elite salary levels of 700-800k+).

Overall after undergraduate study - assuming you can even get an entry level job at a top i bank. 70%(go to bschool) x 50%(get re-hired) x 5% (become an MD) = .0175 ..

In i-banking .. 1.7 percent of these people can achieve the target income level.

Medicine
Like I gave the benefit of getting an i banking job out of college, i'll assume you will have gotten into some kind of med school. From here. Top 10% will go on to an elite residency (plastics, surgery, derm, radiology). From here, there's nothing stopping you from building an insanely rich practice.

In medicine... 10 percent of these people can achieve the target income level.

Law
Assuming you've gotten into a top 5 law school, lets say 40% of these people go on to "biglaw" jobs. Now, you have the next 7 years to prove yourself. 3% of these people become partners. 40% x .3% = .012 ..

In law.. 1.2 percent of these people can achieve the target income level.

So
If you want to make a lot of money, really badly, and you're willing to work at it. Medicine is by far the best bet. As 10% of medical grads will go into specialties that allow them to make ridiculous amounts of money in private practice. This is one thing i really like about medicine. You only spend about 3 years "proving" yourself, getting into a residency. After that its like you have a license to print money. You're controlling your destiny. In other professions, you have different "cuts" every few years where only a few advance, and everyone else has to stop. It takes 9 years in law to get a biglaw partner spot, perhaps 10 in business. In medicine, after 3 years (granted, perhaps 4), you'll be all but guaranteed a high paying job.

Comments?

 

[avinash]

what are the highest paying residencys? Also doesnt medicine have a high risk factor of law suits and mal practice?

 

[adiddy1422]

Okay, here i'm comparing the viability (for money making) of a medical career versus other high paying fields.

I'm starting with a few assumptions for my argument (they may not apply to you, but lets say they hold true for the sake of what follows)

-I'm talking only about high achieving, smart students, who could get into medical school, a top law school, or a top business job. (ie: top 5-10% of their college class)

-I'm assuming that you are motivated by money and will go into whatever specialty/area will make the most. (my assessment will target making at least $1,000,000 a year net salary at top of career)

Okay, so. lets compare 3 paths. Law, Medicine, and Ibanking.

In I-Banking- I'll give you the benefit of having already obtained a summer internship or a bachelors degree entry level analyst position (which, btw, only about 5% of business students achieve). Now consider that approx. 70% of analysts at these banks will get in to a top business school afterwards. In order to come back and be re-hired by your old firm, you would probably have to be in the top half of your business school class. Now you're working an 80-100 hour a week job as an associate, making 200k to start with. Its not our target salary, so, lets consider that about 5% of these associates will become managing directors (the first of the elite salary levels of 700-800k+).

Overall after undergraduate study - assuming you can even get an entry level job at a top i bank. 70%(go to bschool) x 50%(get re-hired) x 5% (become an MD) = .0175 ..

In i-banking .. 1.7 percent of these people can achieve the target income level.

Medicine
Like I gave the benefit of getting an i banking job out of college, i'll assume you will have gotten into some kind of med school. From here. Top 10% will go on to an elite residency (plastics, surgery, derm, radiology). From here, there's nothing stopping you from building an insanely rich practice.

In medicine... 10 percent of these people can achieve the target income level.

Law
Assuming you've gotten into a top 5 law school, lets say 40% of these people go on to "biglaw" jobs. Now, you have the next 7 years to prove yourself. 3% of these people become partners. 40% x .3% = .012 ..

In law.. 1.2 percent of these people can achieve the target income level.

So
If you want to make a lot of money, really badly, and you're willing to work at it. Medicine is by far the best bet. As 10% of medical grads will go into specialties that allow them to make ridiculous amounts of money in private practice. This is one thing i really like about medicine. You only spend about 3 years "proving" yourself, getting into a residency. After that its like you have a license to print money. You're controlling your destiny. In other professions, you have different "cuts" every few years where only a few advance, and everyone else has to stop. It takes 9 years in law to get a biglaw partner spot, perhaps 10 in business. In medicine, after 3 years (granted, perhaps 4), you'll be all but guaranteed a high paying job.

Comments?

Agreed 👍 👍

 

[ForbiddenComma]

Top 10% will go on to an elite residency (plastics, surgery, derm, radiology).

"Ah yes, the well-dressed specialties." (sorry couldn't resist)

Yes, if someone wanted to just go the bling-bling cash-money route, medicine has some good options. But I'm not sure it would be the easiest route.

- Competition in the fields you list is ever-growing, and the urban/suburban markets are increasingly saturated. Just open up your yellow pages.
- Docs have vastly higher overheads than an I-banker. For instance, people at Goldman Sachs generally do not have to take out malpractice insurance.
- The most well-paying fields (with the exception of surgery) are also the most divorced from critical care or otherwise "making sick people better." If someone had the determination to go into healthcare to begin with, I can't see them being satisfied with such work forever.
- It's generally easier to get into an MBA program or law school than an MD program
- Two words: managed care.

That last one will be the most important factor limiting doctor opportunities for those entering med school this fall. If you are performing purely elective procedures, or are heading a practice where others do, then great; but I don't exactly see a huge growth in income potential for doctors engaged in HMO-covered practice in the coming decades.

 

[opinionkitten]

problems with your analysis: you seem to think taht 10% of medschool students end up making a million a year, this doesnt seem right to me. do 10% of medschool grads take a prestige residency? are there no further cuts into this population akin to your "become a partner, 3%?" is there nothing to be said for the years of residency and time it takes to specialize and all that?

it seems to me the top 10% of all of the three fields discussed are going to make lots of money and have a hard time avoiding it. you say that 3% of lawschool grads make a million a year at some undetermined point after graduating, but ive seen figures stating the average law grad going into nongovernment jobs make on avearage 200k a year the first year out. seems unlikely to me taht if the average is 200k a year only 3% are going to break a million a year ever.

i think medicine, prestige specialties in particular, are great ways to make $500k a year and more, but i fault your claim that there is a several fold difference inthe percentage of people in medicine making prestige salaries vs. business or law.

 

[SteelEyes]

Okay, here i'm comparing the viability (for money making) of a medical career versus other high paying fields.

I'm starting with a few assumptions for my argument (they may not apply to you, but lets say they hold true for the sake of what follows)

-I'm talking only about high achieving, smart students, who could get into medical school, a top law school, or a top business job. (ie: top 5-10% of their college class)

-I'm assuming that you are motivated by money and will go into whatever specialty/area will make the most. (my assessment will target making at least $1,000,000 a year net salary at top of career)

Okay, so. lets compare 3 paths. Law, Medicine, and Ibanking.

In I-Banking- I'll give you the benefit of having already obtained a summer internship or a bachelors degree entry level analyst position (which, btw, only about 5% of business students achieve). Now consider that approx. 70% of analysts at these banks will get in to a top business school afterwards. In order to come back and be re-hired by your old firm, you would probably have to be in the top half of your business school class. Now you're working an 80-100 hour a week job as an associate, making 200k to start with. Its not our target salary, so, lets consider that about 5% of these associates will become managing directors (the first of the elite salary levels of 700-800k+).

Overall after undergraduate study - assuming you can even get an entry level job at a top i bank. 70%(go to bschool) x 50%(get re-hired) x 5% (become an MD) = .0175 ..

In i-banking .. 1.7 percent of these people can achieve the target income level.

Medicine
Like I gave the benefit of getting an i banking job out of college, i'll assume you will have gotten into some kind of med school. From here. Top 10% will go on to an elite residency (plastics, surgery, derm, radiology). From here, there's nothing stopping you from building an insanely rich practice.

In medicine... 10 percent of these people can achieve the target income level.

Law
Assuming you've gotten into a top 5 law school, lets say 40% of these people go on to "biglaw" jobs. Now, you have the next 7 years to prove yourself. 3% of these people become partners. 40% x .3% = .012 ..

In law.. 1.2 percent of these people can achieve the target income level.

So
If you want to make a lot of money, really badly, and you're willing to work at it. Medicine is by far the best bet. As 10% of medical grads will go into specialties that allow them to make ridiculous amounts of money in private practice. This is one thing i really like about medicine. You only spend about 3 years "proving" yourself, getting into a residency. After that its like you have a license to print money. You're controlling your destiny. In other professions, you have different "cuts" every few years where only a few advance, and everyone else has to stop. It takes 9 years in law to get a biglaw partner spot, perhaps 10 in business. In medicine, after 3 years (granted, perhaps 4), you'll be all but guaranteed a high paying job.

Comments?

If you think going into medicine will get 10% of you 7 figures per year, you are absolutely insane! There is no way to justify what you just said. In today's health system, the 'elite' you refer to are a) much less than 10% of doctors, and b) are lucky to get $500,000. I think you will be sadly mistaken if you go through medical school and come out making $90,000 but that is a reality for many many doctors. Many peak at less than $200,000. Only the truly business savvy in underserved areas rake in big money.

Medicine affords a person a comfortable lifestyle, but if you're trying to be a millionaire, try the lottery. Do medicine if you like it, not for money or you'll be frustrated later.

 

[capone2975]

I would definitely disagree with what you have said. yes, doctors do make decent money, but business is where the true money is. How many doctor's do you see on the Forbes 400 richest people? If you are in the top 5% and can get into a top MBA program, going into ibanking isn't as difficult as you make it sound (especially if you are at the top of the list of students) you also have to factor in the time it takes to become a doctor. The business student (ibanker, VC, p/e, real estate, etc.) will already have made a ton of dough!!! I would definitely say if money is anyone's main motivation, go the business route!!!

 

[Ross434]

problems with your analysis: you seem to think taht 10% of medschool students end up making a million a year, this doesnt seem right to me. do 10% of medschool grads take a prestige residency? are there no further cuts into this population akin to your "become a partner, 3%?" is there nothing to be said for the years of residency and time it takes to specialize and all that?

it seems to me the top 10% of all of the three fields discussed are going to make lots of money and have a hard time avoiding it. you say that 3% of lawschool grads make a million a year at some undetermined point after graduating, but ive seen figures stating the average law grad going into nongovernment jobs make on avearage 200k a year the first year out. seems unlikely to me taht if the average is 200k a year only 3% are going to break a million a year ever.

i think medicine, prestige specialties in particular, are great ways to make $500k a year and more, but i fault your claim that there is a several fold difference inthe percentage of people in medicine making prestige salaries vs. business or law.

1st, the reason that 10% arent making that much money is because they are not willing to make any sacrifices. Like a previous poster pointed out, there are hardships, ie: maybe they dont want to work in underserved areas, or away from large cities, or get divorced, heck, maybe they want to have a family (certainly very difficult if you're trying to make tons and tons and tons of money)

There is nothing to be said for residency, because there is no "Cut" after residency and specialty training. Ie: if you're good enough to get into residency and get through it (almost everyone does), then you're good enough to make a lot of money.

2nd, in law, the average law grad is probably making somewhere around 65k starting salary. The TOP law grads get at the most 150k starting salary. And this is at "Biglaw" firms. The median law salary in this country is around 80k - thats for experienced attorneys.

I would definitely disagree with what you have said. yes, doctors do make decent money, but business is where the true money is. How many doctor's do you see on the Forbes 400 richest people? If you are in the top 5% and can get into a top MBA program, going into ibanking isn't as difficult as you make it sound (especially if you are at the top of the list of students) you also have to factor in the time it takes to become a doctor. The business student (ibanker, VC, p/e, real estate, etc.) will already have made a ton of dough!!! I would definitely say if money is anyone's main motivation, go the business route!!!

How many lawyers do you see on the forbes 400 richest people. Come on. Extremely "RICH" people are probably making many millions / year. And yes, i agree if you want to make this kind of money, business is where it's at. But among all businesspeople, only the top hundredth of a percent are making this kind of money.

If you think going into medicine will get 10% of you 7 figures per year, you are absolutely insane! There is no way to justify what you just said. In today's health system, the 'elite' you refer to are a) much less than 10% of doctors, and b) are lucky to get $500,000. I think you will be sadly mistaken if you go through medical school and come out making $90,000 but that is a reality for many many doctors. Many peak at less than $200,000. Only the truly business savvy in underserved areas rake in big money.

Medicine affords a person a comfortable lifestyle, but if you're trying to be a millionaire, try the lottery. Do medicine if you like it, not for money or you'll be frustrated later.

If you're in the top 10% of your med school class, chances are you can get a pretty nice residency. There are a lot of 7 figure jobs out there for interventinal cardiologists, cardiothoracic surgeons, spine surgeons, radiologists, and plastic surgeons. I'm not saying its easy, by any means. I'm just saying, if you want it, its there.

Lucky to max at 500k? Just do a search online for orthopedic jobs, or neurosurgeon jobs. There are *STARTING SALARIES* above 700k.

 

[kikkoman]

Comments?

You're a douche.

 

[SteelEyes]

check this out:

http://www.allied-physicians.com/salary_surveys/physician-salaries.htm


I would love to see your sources for starting salaries . . .

 

[capone2975]

Are there really that many doctors making 7 figures? Every salary guide I look at the doc's make no where near that. I heard it was a lot easier to make money pre-hmo days, but that it is much more difficult now. If you are as good as you say you are (top 5%), then you would be the top 5% in business as well and make more money. There is a ton of money in real estate as well.

I just don't feel that people should become a doc to make money. Have you done an ROI to truly compare if you would be better of as a doc or a lawyer or business person? There are a lot of years that future doc's are making any money while others are and they are investing at the same time.

 

[heech]

Lawyers at the "big" law firms willing to sacrifice greatly are very likely to make partner. I very much question the 3% number that you give. I have several friends working in major silicon valley firms, and my impression is that it's almost a 50%/50% break-down in terms of partner versus associate. After 7 years, lawyers that don't make partner often move on to private counsel (which doesn't pay poorly either)... but even so, this means the probability of making partner (assuming 35 year legal career: 28 post-partner, 7 pre-partner) is about 1/4.

That means 10% of lawyers from top 5 law schools can make the big bucks you're talking about.

 

[opinionkitten]

2nd, in law, the average law grad is probably making somewhere around 65k starting salary. The TOP law grads get at the most 150k starting salary. And this is at "Biglaw" firms. The median law salary in this country is around 80k - thats for experienced attorneys.

as for averages
http://www.nalp.org/nalpresearch/sumch03.htm for law

http://www.physicianssearch.com/physician/salary2.html for med

comparisons of year three law grads and post residency med grads are pretty even at around 100 a year. i cant find figures for elite law grads to compare to elite specialties in the med figures.

these are hard things to compare, i think elite surgical specialties can get a million a year with some assurance, but i cant see doctors making mroe than this. law and business have avenues for making these and more, i cant see them being terribly different

edit:
http://www.ilrg.com/employment/salaries/

looks like partners make half a million on average, this is close to the average of the elite specialties on my previous link. law partner seems about equal to high paying specialist to me

 

[heech]

Lucky to max at 500k? Just do a search online for orthopedic jobs, or neurosurgeon jobs. There are *STARTING SALARIES* above 700k.

It'd be nice if you backed this up with actual links. I can't find any orthopedic or neurosurgeon jobs starting at $700k.

 

[melimi]

yeah.........yeah, def go with medicine, u'll DEFINITELY be making 7 figures by the first 5 yrs of ur career
















(shhhhhhh....... no one tell him that he's gonna be majorly fuct up the as.s after he graduates and realizes that he wasted so much time and work since residencies only pay max 50k a year, and then when he gets out he'll be in so much debt he'll actually end up w/ half of what his income is for 10 yrs)

 

[SteelEyes]

It'd be nice if you backed this up with actual links. I can't find any orthopedic or neurosurgeon jobs starting at $700k.

Maybe because they don't exist? Just a thought . . .

 

[heech]

Maybe because they don't exist? Just a thought . . .

That possibility had crossed my mind. 😛

 

[rft10]

First of all, no way $1 mil is target salary for a managing director at an investment bank. The only managing directors i know of that make "only" $ 1 mil. are those that are getting no deal flow (i.e. tech banking right now), but pretty much in any other field managing directors make much, much more. Also, you don't have to do an analyst position, go to b-school, and then come back to get hired. If you are good enough (i.e., work your butt off) you can get promoted straight from analyst to associate. Most of my i-banking friends have gone this route. And all the while, you are making craploads of money.

So if you want to make money, go into i-banking. My first year compensation straight out of undergrad was $100k+. Maybe seven years from now after I've done med school and residency (where a first year resident gets paid a paltry $40k/year), I could match the salary I got my first year out of undergrad. In 7 years a good i-banker will be at the executive director level pulling in something like $750,000/year. There is no comparison.

 

[ZAZA67401]

You're a douche.

second that

 

[notdeadyet]

Maybe it's just me, but I find it terribly entertaining to hear these young guns ranting and raving about how lucrative medicine is and how it's the best way to get rich quick. They say this in spite of the fact that almost down to a one, every physician that posts on the board has talked about how the money isn't as great as people think and it's only getting worse.

I'd recommend that these folks stay away from medicine and instead go into investment banking, but with that kind of logic/research/deduction skill, they'd get themselves skewered in the markets...

 

[Ross434]

Maybe it's just me, but I find it terribly entertaining to hear these young guns ranting and raving about how lucrative medicine is and how it's the best way to get rich quick. They say this in spite of the fact that almost down to a one, every physician that posts on the board has talked about how the money isn't as great as people think and it's only getting worse.

I'd recommend that these folks stay away from medicine and instead go into investment banking, but with that kind of logic/research/deduction skill, they'd get themselves skewered in the markets...

Personally, i trust doctors that i know more than ones that post on the internet.

 

[Larsitron]

Personally, i trust doctors that i know more than ones that post on the internet.

Personally, I trust links and other statistics far more than the wild speculation of people who use Dick Cheney as their avatar.

 

[Blake]

Don't know where you guys live, but docs here make plenty of money (way above what's shown in the statistics). Not as much as they used to make, but they definitely make some good money. The neurosurgeon I'll work with this summer told me the average salary for some specialties is way above 500k. Believe it or not, but it doesn't make it less true. Anyway, all this money talk is futile. Anything over 100 K is a bonus for me, but since we're on SDN and everyone is holier than me, I'd like to point out that I only chose medicine for money. Yea, that's it... 🙄

Later.

 

[notdeadyet]

Personally, I trust links and other statistics far more than the wild speculation of people who use Dick Cheney as their avatar.

It's appropriate though. Did you notice that those mathematics used to figure that 10% of doctors can make $1 million per year bore a resenblance to his administration's fix for social security? It's all just so clear now...

 

[avinash]

Personally, I trust links and other statistics far more than the wild speculation of people who use Dick Cheney as their avatar.

that was a good one

 

[MollyMalone]

Personally, I trust links and other statistics far more than the wild speculation of people who use Dick Cheney as their avatar.

Damn, that should have come with a warning! I almost choked to death I was laughing so hard!

 

[Larsitron]

Although, to be fair, I'll also admit that you shouldn't believe everything your read from links and that statistics can be stranger than fiction.

 

[CanIMakeIt]

Personally, I trust links and other statistics far more than the wild speculation of people who use Dick Cheney as their avatar.

That was awesome

👍

 

[hillbelly]

Asses like you are one of the great problems with market-based medicine. But, you can rest easy knowing that there are plenty of sick people waiting to serve you.

 

[frostybrandx]

If you think going into medicine will get 10% of you 7 figures per year, you are absolutely insane! There is no way to justify what you just said. In today's health system, the 'elite' you refer to are a) much less than 10% of doctors, and b) are lucky to get $500,000.



Is there a "Lifestyle difference" between making 500,000 dollars a year and making 1,000,000? Seriously, do you get to eat fancier cheese platters? At what point do you just start stuffing mattresses with 20 dollar billss?

 

[masterMood]

Isn't it obvious? He's republican, duh.

 

[Law2Doc]

Lawyers at the "big" law firms willing to sacrifice greatly are very likely to make partner. I very much question the 3% number that you give. I have several friends working in major silicon valley firms, and my impression is that it's almost a 50%/50% break-down in terms of partner versus associate. After 7 years, lawyers that don't make partner often move on to private counsel (which doesn't pay poorly either)... but even so, this means the probability of making partner (assuming 35 year legal career: 28 post-partner, 7 pre-partner) is about 1/4.

That means 10% of lawyers from top 5 law schools can make the big bucks you're talking about.

I disagree with the OPs post in many ways, the biggest of which is that he doesn't account for initial debt and time value of money, both of which make certain other professions more lucrative for all but the very few highest paid specialties. (I mean what other profession starts you out hundreds of dollars in the hole and committed to effectively working for minimum wage for 4+ years.) Thus I continue to maintain that if you are very smart and motivated by money, there are better routes, I-banking and other financial sector jobs being the most obvious. However I do agree with him that the percentage of people who start at big law firms in big cities and actually make it to "partner" these days is exceedingly small (3% sounds about right to me). I do note, however, that at most large firms, the more senior associates (pre-partner) will still make extremely high salaries -- higher than most physicians, so equating partner with financial success equivalent to a private practice physician is not necessarilly accurate, and thus this part of his reasoning is a bit flawed.

 

[elicash]

I disagree with the OPs post in many ways, the biggest of which is that he doesn't account for initial debt and time value of money, both of which make certain other professions more lucrative for all but the very few highest paid specialties. (I mean what other profession starts you out hundreds of dollars in the hole and committed to effectively working for minimum wage for 4+ years.) Thus I continue to maintain that if you are very smart and motivated by money, there are better routes, I-banking and other financial sector jobs being the most obvious. However I do agree with him that the percentage of people who start at big law firms in big cities and actually make it to "partner" these days is exceedingly small (3% sounds about right to me). I do note, however, that at most large firms, the more senior associates (pre-partner) will still make extremely high salaries -- higher than most physicians, so equating partner with financial success equivalent to a private practice physician is not necessarilly accurate, and thus this part of his reasoning is a bit flawed.

I also disagree with the OP in many ways. As a business person (consulting/investment banking), it is clear that there are easier ways than medicine to make serious bling. if you are a consultant/ibanker for ten years (out of college -- without yet making partner), you will be pulling in about 500k. Meanwhile, the doctor could be a resident in a surgical speciality, for example, making only about 50k. plus doctors have a debt (whereas if you are a consultant and perhaps an ibanker, the company will pay for you to go to business school in exchange for a few years of working)--- all in all, putting doctors' lifetime incomes at a large disadvantage.

that said, i think that medicine is the easier route to making a consistent, still significant salary -- after college, if you do well on two tests--mcat + board exam -- you will become a doctor. you can expect to make at least 200k for the most part -- putting you in the top 2% who got the bush tax cut... (just think of the onion headline: "man complains that he is in the top one-half of one percent of income"). but in exchange for the sure return, it is very hard to make that 500k and of course seven figures.

on top of that, in other professions such as law and business, you can be fired at any time-- they are just incredibly cut-hroat. medicine can also be cut-throat, but i think it has more to do with getting the better residency, etc., than with being fired or not. that risk is one of the most stressful feelings possible....though the feeling might be up there with the risk of malpractice lawsuits in certain professions.

of course i am not saying that this process is easy-- anyone applying now knows how hard it is. but if you're smart, work very hard, get lucky, etc., you'll be sure to have a decent salary; even though medicine is not a great profession for being very, very wealthy.

maybe it's a good thing, because it selects medicine for people who really want to do it, not just people who want to be rich.

 

[vmc303]

\

 

[superdavykinz]

1).
That said, medicine is still the best bet for anyone who wants to be in the top 1% of earners. For someone whose goal it is to make $1 million per year though, there are better choices.

ya like basketball,football,golf,poker,hockey,etc! i bet those white guys that warm the bench and rarely get minutes make at least 250k. pretty sad!

 

[Ross434]

3). Doctors are earning less each year, while the same can't be said for lawyers or bankers.

Sorry, physician salaries are rising at nearly twice the rate of inflation, primary care included.

http://www.deltamedcon.com/MHC/

 

[nabeel76]

check this out:

http://www.allied-physicians.com/salary_surveys/physician-salaries.htm


I would love to see your sources for starting salaries . . .

Don't rely on salary surveys. From my experience they are ALL very conservative. I am a Sr. Network Engineer and practically every salary survey that I have seen shows a Network/WAN engineer at about a high end of 70K. I was making almost 2 times that, and every senior engineer that I have worked with was above 90K. I surpassed the 70K high end after 2 years of experience in the field. The surveys indicated that engineers w/ 10+ years of experience acheive this top end of 70K. I have friends in other fields that say the same thing about the salaries within their respective fields. I can't yet say if this is indicative of the surveys for physicians just yet, but I will make sure I let you know one day when I can. 🙂

 

[vmc303]

ya like basketball,football,golf,poker,hockey,etc! i bet those white guys that warm the bench and rarely get minutes make at least 250k. pretty sad!

Well, like I said, if you're someone who could be one of the top earners in medicine -- i.e., you have the smarts, ambition, tolerance for long hours, business savvy -- then you could probably make more direct use of those particular talents in either business or law to make more money. In other words, it's tougher to become a $1 million-earning neurosurgeon than it is to become a $1 million-earning i-bank managing director or "big law" partner.

 

[OnMyWayThere]

I admit I did not read your whole post, but in response to the title of your thread, I'd say if it's about making money in a profession, dentistry is the better bet. Of course medicine as a profession has a lot more to offer if you're not talking just money 👍

 

[Blue Scrub]

Everyone should read that article by Atul Gawande that was recently in the New Yorker, its a really good article, but he also gives figures on what field is most lucrative......*surprise!* it isn't medicine

http://forums.studentdoctor.net/showthread.php?t=189436