I'd strike too. They're making less than my plumber
Your plumber makes 81-123K a year? That's also the pay for GPs. Yes its lower, but only ~60k less than the average starting salary for FM in the US, plus they don't have the loan burden US students do.
Mine actually does.
My point exactly
My bad - that was a typo I left in while editing.
GP = FM, one of the lower paying specialties. The minimum is 81k not 70k (US dollars), and max 123k - not sure how you couldn't live rather comfortably with that. You also ignored incentives, which aren't factored in the links above, the option to go the "private practice" route to avoid the BMA pay system, and much lower debt burden on UK physicians compared to US.
Because the tax rate in the UK is going to take almost half that number. Why go to medical school for a take home pay of 50-70k?
This is what I'm trying to get at, but probably did a crappy job of addressing. Comparing medicine in Europe to medicine in the US is an apples v. oranges scenario. There's no such thing as a perfect system and both have their pluses and minuses.
We have it much better post-training. Junior doctors over there are juniors for a much longer period than we are, and are paid much less if they ever manage to land a consultant spot (which requires a consultant spot to open and is completely independent of their time in training, unlike here, where three to seven years and we're done and allowed to be attendings).
Please don't twist the event. Read this article for more info: http://www.telegraph.co.uk/news/201...doctors-paid-and-why-are-they-threatening-to/
No, we don't. Have you heard of ANYONE in the EU who works more than 40h/work? Such is an American thing. http://www.eurofound.europa.eu/observatories/eurwork/comparative-information/overtime-in-europe
First off, you realize that after 19 years, the average CONSULTANT is making only $148,290.93, right? I mean, I know a guy who works two weekends a month in a rural area and makes 200k not even five years out of school, in addition to 250k for his regular job. And that is BEFORE taxes, which are significantly higher there.
You're being inconsistent with your reply with respect to purchasing/buying power: you acknowledge it in some instances and not in others. The matter of fact is that it isn't a meh salary when you include everything else that has been mentioned in this thread already.
Every single person in my FM residency class started out making more than a UK consultant, and that is 8-5 M-F, no inpatient, limited at-home call. SO with charting and the occasional call, we're still likely only talking 50 hours/week which when you consider our shorter training time is pretty good to out-earn specialists over there.
Oh, I believe it. But this was when? 10 years ago? I don't think I need to clue you in on tuition costs and student debt today.
That pay table is from 2015- the 2004 date on it denotes when they shifted from the old pay system, which was more generous, to the new one. As to "what you get for your money," after taxes you're making about half what a typical non-specialist in the US makes. I can certainly provide literally all of the benefits the UK does for far less than half of my after-tax paycheck. As to the value of free time, the physicians on the lower end of the pay scale here are typically putting in 45-50 hours. Hardly soul-crushing, it's a mere extra hour or so a day over our foreign colleagues to double our pay.
You're seeing this as a result of increased regulations from the government, not because of the free market.
The big difference between here and there is that we can just choose to stop taking insurance if the conditions become unfavorable.
Because lots of people would die if every resident went on strike.
FM has had a salary that has outpaced inflation, historically. Ten years ago they were making an average of $146,000 per industry surveys- a 60k pay raise in ten years is pretty damn good, and far more than the average American has received lol. Let's say you have two kids, and put away 10k a piece every year for 18 years. Let's look what that comes to after investing with a 9% average return: $450,182.80. Just the return on that each year ($40,500 at 9%) is enough to pay down any college costs as they come (sure, college costs will increase, but even if they doubled, to let's say $80,100/year, you could just take out loans and allow your investments to pay them down over time, not only paying for your college but leaving them a nice nest egg to start their life with). And all of that falls under the gift tax limit, so it's all tax free.
I graduated residency in 2013, nice try though. Plus, most of my classmates were DO/carib grads and so had higher than average loans anyway (over half the class owed over 300k).
Yeah, that is just awful advice. The 9% average over the course of a career. The only time this doesn't work out is if you want to retire right during a downslope in the market (a la 2008).
How is that awful advice? I'm sorry but I, along with others, don't want to depend on the domestic US market to grow wealth. That's a personal choice and it shouldn't even be part of the conversation regarding US vs UK salary and life outlook as a GP. It's also not like they cant invest in the US market.
A) You made a separate post about it
Because we all know how common it is to invest in the Chinese market. Obviously I was referring to the US stock exchange.
Hardly, my malpractice tops out at around 5k/year
Why do you have such a hard-on for socialized medicine? You have not given any reasons besides their hours, which are comparable to FP in America. What is your point?
