Md/PhD vs PhD: Salary

[kevinp2]

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Although money isn't a huge factor for me in these decisions, it is a factor. I was wondering how the salaries of PhDs fared against those of MD/PhDs. Obviously the clinical componant of the MD degree is going to bring in extra cash but does anyone know if it is easier to land grants as an MD/PhD and also if faculty salaries for MD/PhD's are higher?

 

[tacojohn]

Although money isn't a huge factor for me in these decisions, it is a factor. I was wondering how the salaries of PhDs fared against those of MD/PhDs. Obviously the clinical componant of the MD degree is going to bring in extra cash but does anyone know if it is easier to land grants as an MD/PhD and also if faculty salaries for MD/PhD's are higher?

The best way to earn yourself a giant pay cut as an MD is to add the letters PhD to the end of your name.

As for comparing salaries to PhD's - how much money you make will have absolutely nothing to do with the letters after your name. The only thing that will matter is how good your research is and, more importantly, how good you are at convincing other people (i.e, study sections) that it's worth funding.

 

[Neuronix]

Your salary will have to do with the position you hold and duties you perform. If you do 100% research in academics with either degree, you'll likely earn pretty much the same. The best money to be made at this time is in private practice in certain specialties. The MD/PhDs in my department are paid more than the PhDs, but this is only because they have a clinical component to what they do and hence are salaried somewhat as MDs. I still don't think they're being paid as much as the 100% clinical guys, but I'm not sure about that. In other less lucrative departments, I don't think the MD confers you any salary advantage, but it certainly does help you get a job.

If you go into industry you may find niche or upper-management positions as a MD/PhD that will increase your salary over a PhD. But this again is a position thing.