Yes I am having a very hard time deciding between the two also. I am a 4th year student and I just finished my medicine subinternship. I have always wanted to go into psych but after finishing my medicine subI, Ive been thinking, "hmmm...medicine isn't too bad either."
I think the two main reasons I'm drawn to psych is that I find pleasure in being able to make a change in one's mental health, and also that the residency is survivable. However, the two main reasons I'm drawn to medicine is that it is great being able to utilize such a great fund of knowledge to treat such a wide variety of illnesses, and also everything appears very logical.
For me Ive had a hard time deciding what is more important to me...but then I tried to imagine myself sitting in a chair when I am a 45 year old attending. Would I enjoy having to deal with chest pain, leg ulcers, hyponatremia, and acute renal failure? Or rather would I enjoy talking to someone about their life struggle, or helping a kid overcome ADD?
Theres something beatiful i noticed about psychiatry. Whereas in medicine, one's diagnosis of chest pain is from CAD, cocaine, PE, etc. There are a limited number of causes. But in a diagnosis of depression, virtually ANYTHING can cause it because every person had a different life story. And that's what makes it more interesting to me.
Thus I'm thinking as a 45 year old attending, I will get really tired of my 1,000th admission for chest pain. But as a psych attending, even the 1000th case of depression may have a new interesting story with something to learn.