How much debt is too much?

[Toothshucker]

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One thing that was striking to me was that the medical school at LECOM is about 30k/yr while the dental school is about 50k/yr. 120 seems so much more palatable than 200k !

Dental school is much more expensive to run than a medical school.

 

[Bereno]

You guys are making the mistake and assuming the 100-120k out of dental school is constant throughout your career.

Its not... There is a good reason why GP national averages are anywhere between 160-220k, its because those are career long averages.

You can hit nice incomes (200k+) with dentistry (yes even without specializing), but IMO, you need some years of experience under your belt before venturing off into private practice.

Now if you tell me you don't ever wanna do private practice (you hate managing), and your also going to be in more than 250k debt (including undergrad), I will be the first to tell you to look into another profession. Associates ,on average, don't make alot (almost irrelevant how "bad" the economy is).

Again, IMO, private practice ownership is the way to go if $$$ is that important to you.

+1 I hate to keep plugging my own excel file, but if you guys looked at it you would see that your salary increases each year... your 120K is only starting salary. Even then, in 5 years from now, I am sure the 120K starting number will be closer to 130k or so.

 

[longhornpride]

Having talked to various dentists and recent grads.... right now 120k starting salary is the exception, not the norm if we're talking about income from a certain percentage of your production. Making that amount in your 2nd or 3rd year is more accurate.

I've heard that you should expect somewhere between 70-100k, before taxes, your first year (straight out of dental school... no residency) and it could be even lower than that in some cases. Matter of fact, one dentist that I spoke to said she make 60k her first year. Unbelievably.

 

[A6project]

you're right. I have been gathering data from all over the places. 70k~100k is what everyone seems to say.
Assuming you are from TX, 60k is very low though.
Is she really slow at what she does or does she work in a super saturated area? (I have heard dentists saying TX is becoming like CA)

Does anyone know an associate salary with 4-5 years of experience?

Having talked to various dentists and recent grads.... right now 120k starting salary is the exception, not the norm if we're talking about income from a certain percentage of your production. Making that amount in your 2nd or 3rd year is more accurate.

I've heard that you should expect somewhere between 70-100k, before taxes, your first year (straight out of dental school... no residency) and it could be even lower than that in some cases. Matter of fact, one dentist that I spoke to said she make 60k her first year. Unbelievably.

 

[757sharp]

Dental school is much more expensive to run than a medical school.

I have always wondered about that. Does anybody know why that is?

 

[dentalWorks]

Having talked to various dentists and recent grads.... right now 120k starting salary is the exception, not the norm if we're talking about income from a certain percentage of your production. Making that amount in your 2nd or 3rd year is more accurate.

I've heard that you should expect somewhere between 70-100k, before taxes, your first year (straight out of dental school... no residency) and it could be even lower than that in some cases. Matter of fact, one dentist that I spoke to said she make 60k her first year. Unbelievably.

Its also based on location.

I can tell you right now, a new graduate in NYC will be LUCKY to make 80k their first couple years out of DS.

In the same time, I know two DDS's whom graduated last year from my school, one is making about 150k, the other is a little above 180k (both moved to some suburb in Chicago)

Location will play the BIGGEST factor into your salary... when you first graduate, when you open your first practice, and when you close shop on last day of retirement

 

[Toothshucker]

I'm from Illinois and all the dentists I shadowed said the suburbs are much better for higher income right out of school. Don't expect to make as much downtown, but it's still not as bad as <120k. I'll look forward to working in the 'burbs.

 

[uva09]

If money is your primary goal and you are earning 80k-120k for more than a year out of Dental School, you are doing something wrong.

I have plenty of friends and former classmates that generate around 300k or more with less than five years experience in highly desirable locations as General Practitioners. The secret? Fee for Service Practices.

 

[Toothshucker]

It's not. But where dentalworks was referring to is where I live. I'm just happy about the location I will most likely be living in, for many other reasons besides the amount of money. But you can't not think about that when you take out large loans...

 

[uva09]

I have always wondered about that. Does anybody know why that is?

It's not so much that dental school costs more than medical school to operate - it doesn't, it's that the financial base of support is much more narrow. The cost of putting one student through dental school versus medical school is quite comparable. The difference is that dental schools are not afforded the same support through affiliated hospital networks, alumni support, public gifts, and federal/state aid.

 

[Toothshucker]

It costs more money to train a dental student in a dental school. Medical students don't spend all their time in a medical school; they also are trained at hospitals where the medical school does not pay for supplies. A dental school pays for all supplies used to train a dental student.

 

[uva09]

It costs more money to train a dental student in a dental school. Medical students don't spend all their time in a medical school; they also are trained at hospitals where the medical school does not pay for supplies. A dental school pays for all supplies used to train a dental student.

Yes, I believe you are reiterating my point. That is a function of the more diverse base of financial support, not the actual cost of education/training. It costs more money to train a dental student from the perspective of the dental school itself. Medical student education represents a highly comparable amount - that amount is just being spread amongst more outlets of support. Cost is cost. Just because the tab is being picked up elsewhere doesn't mean you don't include those values in the total cost of education. But ultimately this difference in financial support is reflected in higher tuition values, especially for some of these private schools.

 

[duppyconqueror]

The benchmark average for non-residents attending dental school in the states is 325k(from 2011 Adea guide). All these schools have filled their seats, so there must be many students who consider the debt manageable.