While the goal is to become a physician, I think you need to accept the fact that that goal doesn't turn into a reality for most premeds. There is something to be said for having a back up plan. Most of my premed friends did not get into medical school, even just counting the ones who still wanted it when they graduated. The ones who majored in things like psych either had to scrounge up money for grad school or they got stuck as perpetual scut monkeys in labs for $15/hour. On the other hand the pessimists who got engineering majors seem pretty happy in their new careers.
I know that most premeds have the attitude that they will madly love medicine and will hate any other job equally since they would 'only be doing it for the money'. It doesn't take much work experience, though, to realize that a good paying job where you have good hours and are a valued employee is way, way better than being the lab slave for minimum wage.
My second major was biochem. From my very unscientific survey of our grads it seemed like biochem basically guarenteed you a job, but the average starting pay was pretty low with a few high end outliers. These are good questions to ask the departments themselves, actually. Generally they know where their grads ended up (and if they don't it's a bad sign).
I agree. That's definitely the trade off.
For all my time in undergrad ChemE had the single highest starting salary of any major in my school, at around $70K (yes that was average, for a state school). Your brother is definitely an outlier.