The only people that should care about "pay cuts" coming down the pikes are people already raking it in as anesthesiologists. For the rest of us, I'd hope, 250k-300k should look like plenty.
On the contrary, the ones already raking it in have the least to worry about. Or they should, if they've limited themselves to just one Ferrari and one wife and have saved in proportion to their incomes.
It's not that $250K isn't plenty to live in a house with heat/AC and own a car that starts every time you turn the key. IMO, for newcomers who aren't living extravagant lifestyles, the difference between earning $250K and $400-500K isn't so much whether either is enough to live well while working ... it's the amount an aggressive saver can put away every year. It could be the difference between retiring at 50 and continuing to live just as well, or retiring at 65.
I've posted before that anesthesia is the field I love for many reasons, and that I'd rather do it than most higher paying specialties with greater likelihood of continuing autonomy. But right now it's coming up on 5 AM and I'm in the hospital after getting paged at 3 AM, and I don't plan on doing this when I'm 65, much less 55. I'm tired and I've got a full day of cases starting at 7:30.
My circumstances are different than most because I'm already employed by the federal government to the tune of about $250K/year (plus comprehensive benefits and a pension that'll pay me somewhere around an inflation-adjusted $60-70K/year until I die). I
know that $250K is plenty to live on, because I live on it. (It's sure not riches with 3 kids and a stay-at-home mom, but it's plenty.) In a few years I'll retire from the .mil job, start collecting the pension, and get a job in the civilian world. The state of the anesthesia job market in the US then will concern me NOT because I'll be worried about having plenty of money to live on (no worries there), but because it could be the difference between hitting my retirement goals after working full time another 5-10 years ... or working full time another 10-20.
$400K might mean the last 3 AM page of my life will be when I'm 55. $250K might mean it'll be when I'm 60.
However long I end up working though, better anesthesia than ortho or IM or, well, anything else.
Any amount of money can be spent every year though. I know an orthopod who's in his 70s, still working his ass off. When you've got a stable full of ex-wives and a jet to make payments on, you've got to work. I did a case with him last weekend (on a cocaine+ noncompliant morbidly obese patient with a pus'ing out neglected open fracture that'll never heal right) ... maybe he's a bazillionaire who just loooooves to operate, but having to work weekends and answer pages from the ER for Medi-Cal pay when I'm past 70 isn't my idea of success.