How much is price factoring in to your decision?

[cobalt31]

I'm having a terrible time deciding on schools that are hugely different in price. I'm wondering how much others are factoring $$ into their decision!

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[eternalxdemon]

I'm having a terrible time deciding on schools that are hugely different in price. I'm wondering how much others are factoring $$ into their decision!

so from your pre-dents i'm assuming ur ucsf vs penn vs san antonio. I would say go to the school you felt most comfortable in. me as a cali resident... i would chose ucsf cuz it's got awesome facilities and it's in such a diverse and unique city. and plus for out-of-state apps, they can change residency after one year... so that's always a plus. but keep in mind that if u go to ucsf u'll be prepped for western regional boards... if u plan on practicing in an east coast school i would recommend going to an east coast school cuz then ur patients for the NERB would be close-by and you don't have to run frantically for patients.

As for the cost issue, i personally would go to the school i loved the most regardless of price cuz the way i see it... i'm going to have to pay it off anyways... mite as well go to where i love even if it's expensive. gl with ur choice!!!

 

[cobalt31]

hey external, thanks for your advice. yea, i'm trying to decide between UCSF and san antonio (in-state). i loved UCSF, but even with UCSF in-state for the last 3 yrs, the price difference is huge! like 100k, not including living expenses. i do plan on staying either in the northwest or southwest in the future though, and both UCSF and Texas have the WREB, so that's not an issue. its just such a tough decision because i loved San Francisco and the school and I want to live around that part of the country later on. San Antonio is an awesome school too, but its not quite UCSF and texas isn't quite california.

what to do, what to do... i need to make a decision very soon.

 

[Danny289]

^100K means maximum two years of your work after graduation. just think it worth it or not.

 

[Zubnaya Feya]

^100K means maximum two years of your work after graduation. just think it worth it or not.

I disagree. As I have read, most likely fresh graduates will not be earning more than 120k a year. Minus taxes... Comes up to 80k taken home? 100k debt difference will increase because of interest.

It seems 4-5 years would be the timeframe.

 

[Plopper]

I disagree. As I have read, most likely fresh graduates will not be earning more than 120k a year. Minus taxes... Comes up to 80k taken home? 100k debt difference will increase because of interest.

It seems 4-5 years would be the timeframe.

yes but you have to remember by 5 years you should as a GP be making around 200K, live frugally and you'll pay it off in no time

 

[Zubnaya Feya]

yes but you have to remember by 5 years you should as a GP be making around 200K, live frugally and you'll pay it off in no time

Are you considering a dentist who has a private practice or who is an associate or who works for the government?... but 120k to 200k salary increase in 5 years sounds like a lot! Where did you get that info from?

Thanks!

 

[Ranelar]

Maybe you'll be making 200k if you take out another huge loan and buy an active private practice I don't think an associate would make that much, particularly 5 years out.

 

[Plopper]

Are you considering a dentist who has a private practice or who is an associate or who works for the government?... but 120k to 200k salary increase in 5 years sounds like a lot! Where did you get that info from?

Thanks!

i was talking about a dentist who opens a practice, from what i had read, and from the dentists i have talked to, they told me i would make around 100K after opening a practice, but that wouldn't include my payments to student loans

as for associates, i'm not sure what they would make after 5 years, the ADA actually has some numbers on it...

"Figure 3 shows employed dentists' average net income from the primary private practice by years since graduation. Private practitioners who are employed dentists and have been out of dental school less than 10 years received an average net income of $102,910 from their primary private practice in 2001, while the same group 10 or more years out of dental school earned $83,500.

Figure 3. Average net income from the primary private practice of employed dentists by years since graduation, 1999 (weighted)."

http://www.ada.org/prof/resources/pubs/dbguide/newdent/income.asp

 

[Plopper]

so the take home IMO above is that employed GP make 100K, and that's about it, it doesn't seem to rise/fall

now for dentists who open their private practice right out of dental school...

"Net income by age. Another way of analyzing dentists’ net income is to look at breakdowns according to age (Figure 2). Age typically relates to years of experience in dentistry. A net income peak occurs among middle-aged dentists (45 to 54 years of age), while lower net incomes are seen during the beginning of, and retirement from, the dental career.

Figure 2. Average net income from the primary private practice of independent dentists by age, 2000. New dentists are most interested in predicted net incomes at the beginning of their careers. New dentists are those who graduated from dental school less than 10 years ago. The average net income from the primary private practice of a new independent dentist in 2002 was $192,040. The average net income of new independent general practitioners was $178,110. The net income of new independent specialists averaged $202,360 in 2000.
Income of employed dentists. Employed dentists, those who do not own all or part of their private practice, made up 6.8 percent of the dentists who were in private practice in 2002. The income of employed dentists can come from a salary, percentage, commission, associateship or any combination of these elements. Unless specified otherwise, statistics for employed dentists provided here represent general practitioners and specialists combined. These statistics do not apply to independent contractors, who account for 3.6 percent of dentists in private practice."


So a dentist who opens a practice should expect to make around 178K in their first year? Seems high, from what i've heard and from what i've read

 

[cobalt31]

New dentists are most interested in predicted net incomes at the beginning of their careers. New dentists are those who graduated from dental school less than 10 years ago. The average net income from the primary private practice of a new independent dentist in 2002 was $192,040. The average net income of new independent general practitioners was $178,110. The net income of new independent specialists averaged $202,360 in 2000.

i find this very interesting

So a dentist who opens a practice should expect to make around 178K in their first year? Seems high, from what i've heard and from what i've read

that 178K is an average for all gp's within ten years out of dschool. i would assume it is lower initially and rises. therefore, the 178K may be more indicative of a gp who owns his/her own practice after maybe 7 yrs out of dschool.

 

[eternalxdemon]

hey external, thanks for your advice. yea, i'm trying to decide between UCSF and san antonio (in-state). i loved UCSF, but even with UCSF in-state for the last 3 yrs, the price difference is huge! like 100k, not including living expenses. i do plan on staying either in the northwest or southwest in the future though, and both UCSF and Texas have the WREB, so that's not an issue. its just such a tough decision because i loved San Francisco and the school and I want to live around that part of the country later on. San Antonio is an awesome school too, but its not quite UCSF and texas isn't quite california.

what to do, what to do... i need to make a decision very soon.

i'd go with SF!!!!! haha. b/c if u currently live in Texas... u can always fly back to visit during breaks n such.. n by moving to SF you'll have a change of environment for 4 years... but honestly ask yourself which city's weather would you not mind dealing with for another 4 years if it seems you love both schools so much... think about the area too... and the different cultures... UCSF's pretty close too GOOD amazing seafood and good food in general... and if u love food as much as i do.. i'd go with SF...

 

[GNF8300]

The amount of money you make depends on your ability to run your business effectively and produce. I talked with a local general dentist that pulls 40K a month after tax, but he owns his own practice and is efficient (20-30 years out of school). Yeah, you won't make it initially, but don't worry too much about paying it off ASAP either. He's not the exception to the rule either. Don't factor in money very heavily unless you plan on working as an associate for a long time or are unsure about your ability to run a business. Good luck with the decision.