I don't know what to do

Discussion in 'Pre-Medical - MD' started by goosebumps, Dec 4, 2002.

  1. goosebumps

    goosebumps New Member

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    Hi:

    I am a Junior at Boston University. I am majoring in Biology. I am/was pre-med. I am still deciding.

    I am unsure if I want to be a doctor. Is being a doctor worth it? I don't know what else to do with my degree, what would bring in good money? I am not interested in biotechnology or research but I want to be in field that where I don't have to worry about malpractice, and administrative things that doctors must go through but still make 100k+.

    I heard that the medical field isn't as good as it is supposed to be anymore. Doctors don't make that much but how much is not much? Does anyone know?

    I am thinking of going into the pharmaceutical corporate business, does anyone know how much they make?

    I don't want to enter a medical professon if it's not going to make enough for me to buy, for instance, a mercedes benz or a ferrari. This is an honest post so no flamming. I think that at the back of most people's mind is MONEY.

    -Gary B.
     
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  3. gogiants

    gogiants Senior Member

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    if money is your main concern i would say definately check out the pharmaceutical industry. i am working with a drug company on trials right now and they can make a crapload, plus they don't have to invest 4 years in school and take a bunch of debt on. that is my honest opinion.
     
  4. Gleevec

    Gleevec Peter, those are Cheerios

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    Assuming you're not playing a joke:

    You will make more money sooner not being a doctor. The average doctor might make more than the average financier, but a top financier can make tons and tons of money, way more than most doctors will ever see.

    If you're in it for the money as your sole motivation, dont waste your time. If working with patients and studying biology isnt fun for you, go into business and make a killing there. No need to get an MD.

    Money is a factor in choosing medicine versus other degrees (choosing subfields within medicine is less important based on $ since youre making almost the same anyway), but for most it is one of the lower priorities.

     
  5. lola

    lola Bovine Member

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    :laugh: :laugh:
    no, being a doctor is not worth it if all you're after is money. it's a long road ahead! some specialists make an obscene amount of money... think hundreds of thousands of dollars/year, but primary care physicians do not make nearly that much money ($100,000-$200,000/year?). you really have to dedicate the next 10 years of your life to extremely hard work and accept that you'll be in debt before you will start bringin in the money.
    i'd suggest taking some time off after you graduate before deciding what to do. maybe you could get a job working with a pharmaceutical company or something. i mean, obviously you are not going to be a good doctor if fancy cars instead of patients are on your mind! maybe you will get more thrills ripping of senior citizens by charging high prescription drug prices so that you can get that ferrari you've always wanted ;)
     
  6. Rudy1223

    Rudy1223 Member

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    If you are thinking about being a doctor just to make money, it's going to be a long road ahead for you, but you probably know that.
    Money is important, you're right! But if that is the only thing that is pushing you to follow a career as a physician maybe you should re-think this because there are plenty of other ways (easier ways) to be rich and not have to work as hard. Just remember this, and keep it in the back of your mind there are alot of rich people that are not happy and being "rich" in itself will never fill your dreams or expectations. Oh and by the way, medicine still pays very very well, 3 doctors at my church (orthopedic surgeon, cardiologist, family practioner) are all multi-millionares. So yes medicine still pays.

    good luck to you

    rudy
     
  7. CoronaBOY

    CoronaBOY Senior Member

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    well...money is always the issue...

    but considering other previous discussions...medicine is not a good way to be in to make money...

    no ferrari...or lambo...no yacht...no hot babe in your arm...:)

    hehe...yeah...i don't think being a doc is not as good as before...

    so now it requires more heart to be one...Baaaaaad idea coming in just for money...

    if you don't wanna take long hour shift with crapy pay...then you shouldn't...if you can look beyond that, then take it...

    good luck
     
  8. gogiants

    gogiants Senior Member

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    assuming this post is not a joke, i don't think there is any need to rip into this guy. all of us want different things in life and i don't think wanting to make a lot of money makes you a worse person than someone else who that's not as important too. i don't think it would necessarily make someone a bad doctor either. i think as a whole most people applying to medical school are particularly compassionate people who really see helping people as the most valuable thing they can do with their life, but lets not knock the people who are looking for other things out of life.
     
  9. DarkChild

    DarkChild Senior Member

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    you're in the wrong field. biotechnology (unless you own the company) isnt going to get you loaded. neither is medicine.
    I think your best bet is to do an MBA. if I were you, I'd do an MBA and an MA in biotechnology. Then I would apply to a bunch of Ibanks. Most associates make about 80K base and then even in downtimes 80K in bonus (usually substantially more)
    but Ibanks only take folks from basically the top 15 B-schools.
    those are pretty tough to get into - but what they really like to see is work experience (2-4 years).
    my advice (i was an analyst at a big Ibank and I was very close to applying to B-schools)
    1) check out thevault.com and read everything there
    2) either get an MA in biotechnology now, or go to work for a pharmaceutical company.
    3) after some work experience apply to MBA programs
    4) work for a couple years as an associate in a big Ibank (ideally in its health care group)
    5) try and get into a biotech company's finance department or work at a biotech VC (venture capital) firm or stay on as a VP in the Ibank. As a VP you'll be making on the order of 700K.

    its a long tough road though. you're going to be working your butt-off. btw - another piece of advice - if you're not a people person, forget working at an investment bank. once you start trying to scale the ladder, the single most important thing is not how much you know, or how smart you are, its how well you schmooze. if you're not a person who is very strong public speaker and you dont BS well, then dont bother, you wont get very far in business. ask anyone who's done an MBA - that degree is basically a networking degree... it introduces you to the right people, but the rest is up to you.
    i'm not a good bs'er and I couldnt stand the sucking up I saw all around me - thats why I left.
     
  10. Kovox

    Kovox Going Places

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    I agree with gogiant. Give people the benefit of the doubt:) The economy sucks right now so it's a valid question and wanting to make money doesn't make you a bad person.

    I would look into the Pharm Industry as someone had suggested (Check out the Pharm Link). People in the Pharm Industry (Corporate not the retail) make more money than physicians. Being a manager, starting salary is 150kish, and with an MBA, starting salary is usually 250k (Please refer to the Pharm D Lounge for the salary link). But you will have to make sure that you have mucho experience under your belt in order to make the big bucks.

    It sure is all about networking..check it:

    http://www.theyrule.net/

    That's a website of the elite wealthy people - do notice how one man is connected to another and how the biggest companies are controlled by the few.

    Whether or not you will need a Pharm D degree or just a MBA, this I am not sure about. Do some research and good luck with everything.

    Just be forewarned, ad DarkChild had mentioned, there is a lot of bsing in bzness. You're going to be in waters with a lot of sharks, so be prepared to compete with the ruthless :D
     
  11. Bmblee888

    Bmblee888 Member

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    Check out salary.com. It shows you what each profession makes in the specific area that you live in.
     
  12. Zoobaby

    Zoobaby Monkey Wrench

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    I'd try business first if I were you. I've always thought that I might want to go into medicine but was never sure enough to make the commitment as an undergrad. After I graduated from college I went into business and have been doing that for about 4 years. About 2 years in I realized that business wasn't for me, and that $$$ wasn't as importnat as I thought it was (even after having done the nice car + nice pad + lots of partying thing.)

    I did a postbac deal and will be starting med school next fall. I won't be making the cash I'm making now until I'm done with residency, but I know it's what I want to do.

    If you try business and realize you don't like it it will be much easier to change. If you're in your 4th year of med school and realize you made the wrong choice you'll have much more investment of time and money and it might be really hard to change.

    Just my $0.02 based on experience...
     
  13. Dr. Wall$treet

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    Hey goose, i totally am with you, i have thought hard about not doing premed and pursuing law to make money and im still thinking about it depneding on what happens this year but to be honest it is all about you and how motivated you are and how willing to go after thigns you are. I konw most docs, who make ton of money are either A.really succesful plastic surgeons or other cash pay fields.. some derms make alot.. etc
    B. they go after other business ventures. Such as realestated etc. With a docs salary ull be in a great position to make investemns in property and other ventures that come along IF you actively are out there pursueing.. there is a TOn of money to be made and having an MD is a great base to go off of. So just be motivated and open minded.. dont count on being a doc to get ur rich, rather count on it as something that will enable you to make money.. Most people i read about in the fortune magazines and weatly people made thir own money, thier backgrounds ar diverse.. and heres a tip.. NOBODY gets rich off playing stocsk.. only the owners, and the investment bankers selling the stocks make money so dont look to there! ok . but i have the same mindset as u and this is how im approaching things.. OPENLLY
     
  14. Zoobaby

    Zoobaby Monkey Wrench

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    Wally is correct. (did I just say that?? :confused: )

    Most rich people didn't get rich only by working. To become rich you must OWN. Being a doc will provide the income necessary to OWN (after you pay off the loans.) The bottom line, tho, is that if you don't love the job you'll still be miserable.
     
  15. Perseverant 1

    Perseverant 1 Senior Member

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    Hey, i have to agree with the previous posters. If $ is what you are after, medicine might not be the right choice for you right now. I know many people with a bio background can make their way up the corporate ladder in the Pharmaceutical industry. Why don't you check out all of your options before you make your decision. One thing to consider is that medicine will always be here. So, go out there and make your million bucks. If you don't feel fulfilled, I am sure med schools will appreciate your giving up a lucrative lifestyle to help others. good luck in what ever you decide!
     
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  17. Gleevec

    Gleevec Peter, those are Cheerios

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    I agree with the previous posters that you make a lot more money in MBA/business in a LOT less time (it takes about 8 years to be a doctor depending on speciality, and most doctors work average of 55-60 hour weeks also depending on speciality). That doesnt count the 4 years of hell known as residency. Business people get other people to do the work for them and make money off of that, and you can get a job immediately and work for 40-45 hours or so a week and do very well.

    Also, you can definitely make tons of money of stocks if you are wise. If you invest for the long-term and dont day-trade, over any 10-year period you will make money as long as you buy solid blue chippers. Mutual funds and bonds are the same way. The people who get rich quick off stocks are outnumbered 1000:1 by those who lose by going for high risk, high reward. But if you invest a small sum of money into some stable slow-growth stocks/mutual funds, you will find yourself with a sizeable sum of money by retirement. That is the true value of investment.
     

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