How Much Do Dentists Really Make?

[dizzle23x]

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These days, with the state of the world economy/inflation....you can't live as comfortably with 100K anymore. So 6 figures, is not the same as it was a couple years ago.

and yet there are people living comfortably on 50k?

 

[sunmoon6689]

I know. It is interesting to find out what others consider comfortable. In my hometown where I hope to practice someday, I am quite sure that a combined income of anywhere between $80,000- $100,000 would be very comfortable. I know families who survive on much less. At any rate, as long as my future hubby (whoever that may be) makes around $50,000 and I make around $50,000, I will be pretty cozy.

 

[Nomar]

Not sure how it is in the US, but my aunt has her own practice in British Columbia. She works long days and i have heard tales of billing up to $20k a WEEK! Now she has an associate so I can only imagine....

 

[Inkabellous]

So, I guess the bottom line is....Dentistry = Good money!!!

 

[DentalBoarder]

These days, with the state of the world economy/inflation....you can't live as comfortably with 100K anymore. So 6 figures, is not the same as it was a couple years ago.

the average salary in the USA is about $37,000. so family income would be about 74-75K. plenty of families get by fine. anyway, a dentist makes about 170K alone. even if he/she were to make 100K, the dentist would be damn comfortable despite the economy not being "the same as it was a couple years ago." a couple years ago still sucked and not much changed so i dont really know what you're talking about. 😕

 

[Ex_EE]

What one person considers comfortable does not apply across the board. If you are a college student and used to living on barely anything then 100k seems like a lot. If you have been employed and are used to earning 100k then your lifestyle and expectations are now adjusted. I was working as an electrical engineer, and I have quit my job to go to dental school. It is hard to adjust my mindset back to not having any income. Personally I will be disappointed if I don't come out of school doubling my engineering salary. Even if I were to double my salary then it will take me 6 years just to recoup lost income not even including paying for dental school.

 

[reapply2007]

I'm with you Ex_EE. Opportunity cost is something to consider.

 

[ski.bum]

.

 

[BirkChick]

I would also like to mention that for some of us, a salary of 80-100K a year is not feasible, because...we went to Case for dental school and will be paying off 300,000 in loans for the next 30 years. If I want to NOT live in a box, I need to be making much more than that.

What standard of living are you people accustom to?!

According to Paycheckcity.com, a salary of $100,000 paid bi-weekly will net you ~$2,500 per pay or ~$5,000 per month in Ohio (I'm ignoring those two extra paychecks per year). Principal + interest on a $300,000 loan at 6.5% paid off over 30 years is ~$1,900 per month.

So, monthly net income - monthly loans = ~$3,100. I'm sure there are some areas of the country where $3,100 per month will only buy you a box, but in most locations, it will buy you a nice modest house, a very reliable car and will provide enough cushion to adequately fund your retirement accounts. Sure, you won't be able to drive a Porsche right away, or buy your $300,000+ house -- but get some perspective! There are millions of families in this country that take home way less than $3,100 per month and live very fulfilling lives!

 

[Ex_EE]

Have you ever tried to finance a home? Mortgage companies advise that your total debt to income ratio not exceed 36%. For your example above that would give you a gros of $8,333/month. 36% of this is $3,000 subtract your $1,900 a month loan payment and you are left with $1,100 a month for a car and house payment. Good luck finding a "modest" house in most of the markets today. Even $300,000 won't buy you that much. $1,100 wouldn't allow for a $162,000 loan not even counting taxes or insurance, which are considerable. As I said it is all a matter of what you consider important and what you have grown used to.

FYI. I used to make just over $100k combined with my wife and I lived in a town in west texas with an extremely low cost of living. We lived well in a nice home, but were not able to invest in retirement or our son's college fund to the extent that we wanted to. Now that I have moved to a larger town the cost of living is extremely different. The same price home is farther away from the center of the city and 2/3 the size.

 

[pine88]

I think it's really hard to compare what's "comfortable" cross-country. Here the average single family house is $650,000 and you can't leave the grocery store without spending $100, but my friend from Georgia says you can buy a house for $20,000 there (perhaps not the nicest house, but still), and when I lived in CO I'd spend $40 for the same amount of groceries. It's all relative...😎

 

[BirkChick]

Have you ever tried to finance a home?

Yep -- we bought a house last May. Mortgage/taxes/insurance = < 900/month, which is less that 15% of our gross pay.

Mortgage companies advise that your total debt to income ratio not exceed 36%

This is just a guideline -- it does not take into account lifestyle. Just because you make $100,000 per year does not mean that you're going to spend twice as much on food, clothes, etc. as a family that makes $50,000/year. If you are moderately frugal, you could easily make it in most areas of this country with $100k take-home and $300k in loans.

I used to make just over $100k combined with my wife and I lived in a town in west texas with an extremely low cost of living

I'm currently in a similar situation (I, too, am an engineer changing careers). My husband and I feel as though we're rolling in the $$$. We don't really desire many material things and I'm a coupon clipper/grocery game player. This helps us put well over $20k/year in retirement savings right now. But, again, this is a lifestyle choice.

 

[ski.bum]

.

 

[BirkChick]

And in response to your second comment, good luck buying a house that isn't in need of serious work in the Cleveland area for a payment of 900/month. I pay that much in rent. Taxes here are outrageous to pay for all the welfare, as it is the poorest city in the country. I don't know where you live, but it seems pretty cheap!!

Haha! If you can believe it, I live in western Lake county, which is about 30 minutes east of Case. The secret to living in Cleveland is to get out of Cuyahoga county. Sure, the drive is farther, but you save so much in rent, utilities, taxes and car insurance.

There are quite a few small, newer houses in my area. PM me if you're interested!

 

[eleminopee]

my bike got stolen too. actually, just the handlebars. it was annoying. stupid bums.

 

[redroses1100]

I graduated from dental school this last year and I am earning less than $20,000 per year. I have three classmates in a similar situation. About 25 of my classmates aren't breaking 40,000. One of my classmates even worked construction following graduation until he got a job in a public health clinic.

This is shocking because student loan for dental program is the most ridiculous vs any other careers. I am a PA and want to go back for dental school in the future. My brother and his gf are applying right now.

Is it getting better for you?

 

[redroses1100]

I graduated from dental school this last year and I am earning less than $20,000 per year. I have three classmates in a similar situation. About 25 of my classmates aren't breaking 40,000. One of my classmates even worked construction following graduation until he got a job in a public health clinic.

This is shocking because student loan for dental program is the most ridiculous vs any other careers. I am a PA and want to go back for dental school in the future. My brother and his gf are applying right now.

Is it getting better for you?

 

[armorshell]

They're probably a resident, pulling a resident's stipend. I graduated in 2010 and an making $0.00 this year! Oh Noes!

 

[yjdentist]

This is shocking because student loan for dental program is the most ridiculous vs any other careers. I am a PA and want to go back for dental school in the future. My brother and his gf are applying right now.

Is it getting better for you?

this person is a resident. read his/her other posts in the thread.