Is it worth the debt?

[deleted895828]

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Hello!
I am a freshman biology major and pre-dental student. When I was in high school, I was interested in attending medical school, but the younger doctors I shadowed warned me not to pursue medicine due to insane 80-hour work weeks and battles with health insurance. However, now that I am shadowing younger dentists, they warn me not to pursue dentistry due to the fact that most young dentists graduate with large six-figure debts and early-career salaries are not increasing to keep pace with this. So I guess my question is, if after shadowing I can see myself enjoying both medicine and dentistry, is the higher debt and lower starting salary associated with dentistry worth the purportedly more laidback lifestyle? Is pursuing a dental career still a financially sound decision, or does the increasing debt-to-starting-income ratio make dentistry something you should only pursue if you can’t see yourself doing anything else career-wise?
Thanks!

 

[predent2151]

Hello!
I am a freshman biology major and pre-dental student. When I was in high school, I was interested in attending medical school, but the younger doctors I shadowed warned me not to pursue medicine due to insane 80-hour work weeks and battles with health insurance. However, now that I am shadowing younger dentists, they warn me not to pursue dentistry due to the fact that most young dentists graduate with large six-figure debts and early-career salaries are not increasing to keep pace with this. So I guess my question is, if after shadowing I can see myself enjoying both medicine and dentistry, is the higher debt and lower starting salary associated with dentistry worth the purportedly more laidback lifestyle? Is pursuing a dental career still a financially sound decision, or does the increasing debt-to-starting-income ratio make dentistry something you should only pursue if you can’t see yourself doing anything else career-wise?
Thanks!

It depends. Dentistry can range anywhere from 150k-550k in debt depending on where you go with a starting salary from 100k-200k. There is a ton of money in dentistry if your efficient. Medicine you’ll have less debt but a more miserable job depending on your specialty. For medicine your desired specialty along with your USMLE score will play HUGE roles in your lifestyle in medicine.

 

[deleted895828]

Thanks for the replies, guys. I appreciate your insight!

 

[SweetMelonPreDent]

I dont know a dentist who makes less than 200k.

 

[predent2151]

Hello!
I am a freshman biology major and pre-dental student. When I was in high school, I was interested in attending medical school, but the younger doctors I shadowed warned me not to pursue medicine due to insane 80-hour work weeks and battles with health insurance. However, now that I am shadowing younger dentists, they warn me not to pursue dentistry due to the fact that most young dentists graduate with large six-figure debts and early-career salaries are not increasing to keep pace with this. So I guess my question is, if after shadowing I can see myself enjoying both medicine and dentistry, is the higher debt and lower starting salary associated with dentistry worth the purportedly more laidback lifestyle? Is pursuing a dental career still a financially sound decision, or does the increasing debt-to-starting-income ratio make dentistry something you should only pursue if you can’t see yourself doing anything else career-wise?
Thanks!

Poor USMLE—> Primary Care—> 50 hours a week and 120K

Good USMLE—> Ortho—> ~50-60 hours a week—> 750k

Good USMLE—>Anesth—>pain management fellow—>40 hours a week—> 1 mil

 

[endorotary]

I dont know a dentist who makes less than 200k.

What state do you live in? I live in California and I know a lot of my friends who do not own their own practices make significantly less than 200k since it is really saturated here.

 

[MLC45]

Hello!
I am a freshman biology major and pre-dental student. When I was in high school, I was interested in attending medical school, but the younger doctors I shadowed warned me not to pursue medicine due to insane 80-hour work weeks and battles with health insurance. However, now that I am shadowing younger dentists, they warn me not to pursue dentistry due to the fact that most young dentists graduate with large six-figure debts and early-career salaries are not increasing to keep pace with this. So I guess my question is, if after shadowing I can see myself enjoying both medicine and dentistry, is the higher debt and lower starting salary associated with dentistry worth the purportedly more laidback lifestyle? Is pursuing a dental career still a financially sound decision, or does the increasing debt-to-starting-income ratio make dentistry something you should only pursue if you can’t see yourself doing anything else career-wise?
Thanks!

I’ll be 50 years old when I graduate from Dental School. The ability to pay back my loans was a big concern for me since I’ll only have about 15 years before I retire. I was told by several dentist that I had nothing to worry about, and I would be able to pay off my loans and still have a decent retirement. If I can do it at 50 then you’ll be just fine at 25. Just make sure you’re careful about how much debt you take during school.

 

[comatose]

I’ll be 50 years old when I graduate from Dental School. The ability to pay back my loans was a big concern for me since I’ll only have about 15 years before I retire. I was told by several dentist that I had nothing to worry about, and I would be able to pay off my loans and still have a decent retirement. If I can do it at 50 then you’ll be just fine at 25. Just make sure you’re careful about how much debt you take during school.

Wow, now that’s a big life mistake. Graduating dental school at 50? If your goal is to retire in 15 years why on earth would you go to dental school? Do you have a brain that works? Seems like there’s so many Dental schools now they are just accepting anyone these days.

 

[Jay 4 jay]

Wow, now that’s a big life mistake. Graduating dental school at 50? If your goal is to retire in 15 years why on earth would you go to dental school? Do you have a brain that works? Seems like there’s so many Dental schools now they are just accepting anyone these days.

Am pinching myself and asking if I read ur reply right! You can still make ur point without insulting/ asking if one’s brain works.


Sent from my iPhone using SDN mobile

 

[ProspectivePostPreDent]

What state do you live in? I live in California and I know a lot of my friends who do not own their own practices make significantly less than 200k since it is really saturated here.

To be fair, California is known to be possibly the worst dental state.

 

[caffeine jitters]

Wow, now that’s a big life mistake. Graduating dental school at 50? If your goal is to retire in 15 years why on earth would you go to dental school? Do you have a brain that works? Seems like there’s so many Dental schools now they are just accepting anyone these days.

Starting the new year on a positive note I see

 

[KK Lin]

What state do you live in? I live in California and I know a lot of my friends who do not own their own practices make significantly less than 200k since it is really saturated here.

If you choose to practice in some other states you can make two or three times more starting salary than in California.

 

[sobertiger]

Wow, now that’s a big life mistake. Graduating dental school at 50? If your goal is to retire in 15 years why on earth would you go to dental school? Do you have a brain that works? Seems like there’s so many Dental schools now they are just accepting anyone these days.

Wow. This is one of the most mean-spirited comments I've read at SDN.

 

[Alpha Centauri]

The more and more I network with people who have jobs other than dentistry, the more I am happy I picked dental school. The grass is never greener on the other side except once in a blue moon

 

[MLC45]

Wow, now that’s a big life mistake. Graduating dental school at 50? If your goal is to retire in 15 years why on earth would you go to dental school? Do you have a brain that works? Seems like there’s so many Dental schools now they are just accepting anyone these days.

I don’t know if your a dentist or not, but from the many dentists I’ve spoken to, they have reassured me that 1) I will do very well in dental school and 2) that I will be able to pay off my debts and have a comfortable living. (I don’t plan on living in a mansion or driving a Ferrari). My goal as a dentist is to be kind and to help people in a way that they can’t do for themselves. Something that you apparently lack the ability to do.

 

[deleted895828]

I appreciate the responses I’ve gotten so far. At this point I think dentistry as a field appeals to me more than medicine does, so as long as the loans are manageable and the education worth it I think I’m making the right decision!

@MLC45, I really admire you for finishing your degree and starting a new career later in adulthood, and I wish you the best of luck in school and in the field of dentistry in general!

 

[Str82th]

I’ll be 50 years old when I graduate from Dental School. The ability to pay back my loans was a big concern for me since I’ll only have about 15 years before I retire. I was told by several dentist that I had nothing to worry about, and I would be able to pay off my loans and still have a decent retirement. If I can do it at 50 then you’ll be just fine at 25. Just make sure you’re careful about how much debt you take during school.

Congrats and good luck to you. Which school? Public/private? Do you have an idea of your total debt, if any? Do you have a practice to go into?

 

[MLC45]

Congrats and good luck to you. Which school? Public/private? Do you have an idea of your total debt, if any? Do you have a practice to go into?

I’ve been accepted to Oklahoma, it’s a public school. My debt should be somewhere between 190-225K since I don’t have to take out loans for cost of living. I just got accepted so I don’t have a practice to go to quite yet. I did work with a Prosthodontist for most of my assisting years so I have a solid understand of dentures and implants. I might stay in that speciality.

 

[GypsyHummus]

Good on you for following your dreams, despite what others say.

And that’s a decent debt load, you should be able to pay that off in 5 years!

I’ll be 50 years old when I graduate from Dental School. The ability to pay back my loans was a big concern for me since I’ll only have about 15 years before I retire. I was told by several dentist that I had nothing to worry about, and I would be able to pay off my loans and still have a decent retirement. If I can do it at 50 then you’ll be just fine at 25. Just make sure you’re careful about how much debt you take during school.

 

[comatose]

I’ve been accepted to Oklahoma, it’s a public school. My debt should be somewhere between 190-225K since I don’t have to take out loans for cost of living. I just got accepted so I don’t have a practice to go to quite yet. I did work with a Prosthodontist for most of my assisting years so I have a solid understand of dentures and implants. I might stay in that speciality.

I’m not sure which dentists you spoke to regarding your abilities to retire 15 years after you graduate with 200k from Dental school loans. Seriously, good luck with that. Hopefully you already have an established 401k, and you just aren’t telling us something. Otherwise, if you don’t already have some sort of nest egg, the decision to go to dental school at your age and then retire 15 years later doesn’t really seem well thought-out. Again paying back 200k (with interest) is not a walk in the park, even for a dentist (who’s incomes are steadily dropping relative to inflation each year for various reasons mentioned in other threads), and especially not for a new dentist.

 

[fit2]

seeing that dentist was #1 job overall in 2017, I dont see how this career is in decline like many people on this forum tend to think. seriously, if youre passionate and gonna put in the work, you will succeed. you should definitely break it down in spreadsheet and have a budget plan for the next 5-10-20 years, you will be good. if youre not willing to those things, you will struggle

 

[comatose]

seeing that dentist was #1 job overall in 2017, I dont see how this career is in decline like many people on this forum tend to think. seriously, if youre passionate and gonna put in the work, you will succeed. you should definitely break it down in spreadsheet and have a budget plan for the next 5-10-20 years, you will be good. if youre not willing to those things, you will struggle

Again, paying back 200k is not a cake walk no matter what job you do, and it will take years to pay that off. This guy is in a unique situation where he will be exactly 50 years old when he graduates leaving him only 15 years to maximize profit potential of his degree. It’s just not a smart move no matter how you slice or dice it. You’re probably a young 20 something and don’t realize the pitfalls that come with changing professions at such a late stage. I’m all for people chasing their passions, but within reason. And if his goal is to retire in 15 years, it’s not going to happen unless of course, as I said before, he has some existing savings.
Also don’t believe everything you read on the internet about dentists being number one job. Blah blah. I’ve heard that one before. Just realize there are a lot of financial investors out there (yes even people who pay US News) who’s sole motivation is to make their dental schools or insurance companies rich. To all prospective dental students, you must do your research, speak with many different dentists, and take everything you read or hear about with a grain of salt (even with my advice).

 

[MLC45]

Again, paying back 200k is not a cake walk no matter what job you do, and it will take years to pay that off. This guy is in a unique situation where he will be exactly 50 years old when he graduates leaving him only 15 years to maximize profit potential of his degree. It’s just not a smart move no matter how you slice or dice it. You’re probably a young 20 something and don’t realize the pitfalls that come with changing professions at such a late stage. I’m all for people chasing their passions, but within reason. And if his goal is to retire in 15 years, it’s not going to happen unless of course, as I said before, he has some existing savings.
Also don’t believe everything you read on the internet about dentists being number one job. Blah blah. I’ve heard that one before. Just realize there are a lot of financial investors out there (yes even people who pay US News) who’s sole motivation is to make their dental schools or insurance companies rich. To all prospective dental students, you must do your research, speak with many different dentists, and take everything you read or hear about with a grain of salt (even with my advice).

You’re absolutely right about it not being a cake walk, and people do need to take that into consideration. My situation for paying back the loans is a bit different. Almost all of my salary can be used towards the loans since my husband’s income pays for our day to day living expenses. After taxes are taken out, and interest is added to the loan I see no reason why it shouldn’t be paid back within 5 years. The years I work after that goes straight to savings.
The advise to speak to many different dentists is very true. I have several friends who love their career and are very successful. I’ve also overheard conversations from Dentists that are not successful that absolutely hate their jobs. Some in corporate love being an associate and others don’t. It all depends on the person and it depends on the company.