Money is my motive.... MED SCHOOL/Doctor!!!!! question :(

[forthemoney]

not sure if this is in the right forum but.....

I'm looking to make a bunch of money. Is becoming a medical doctor the right choice?

My friend says that I should just join the military and have them pay for me all the way while giving me a good living too but I doubt I will make as much money as I would just taking out loans and stacking on debt.

I have my bachelors in biology within 6 months and then I can apply to medical school when I take the mcat. Money has been my motive since highschool and I have been making good grades since then. 3.75 gpa. ( b+'s really knock down an average!!)

Can't think of any other questions I want to ask but they will come to me in due time...

Thanks

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[QuizzicalApe]

pursue a philosophy phd

 

[CarlATHF]

I've heard there's good money in social work

 

[Hemorrage]

not sure if this is in the right forum but.....

I'm looking to make a bunch of money. Is becoming a medical doctor the right choice?

My friend says that I should just join the military and have them pay for me all the way while giving me a good living too but I doubt I will make as much money as I would just taking out loans and stacking on debt.

I have my bachelors in biology within 6 months and then I can apply to medical school when I take the mcat. Money has been my motive since highschool and I have been making good grades since then. 3.75 gpa. ( b+'s really knock down an average!!)

Can't think of any other questions I want to ask but they will come to me in due time...

Thanks

Any knowledgeable person on sdn will tell you that going into medicine is a stupid idea if your after money. Why? Because medicine and being a good physician requires passion and if your after money you won't find yourself happy with it

 

[ppfizenm]

what's money?

 

[Omppu27]

not sure if this is in the right forum but.....

I'm looking to make a bunch of money. Is becoming a medical doctor the right choice?

My friend says that I should just join the military and have them pay for me all the way while giving me a good living too but I doubt I will make as much money as I would just taking out loans and stacking on debt.

I have my bachelors in biology within 6 months and then I can apply to medical school when I take the mcat. Money has been my motive since highschool and I have been making good grades since then. 3.75 gpa. ( b+'s really knock down an average!!)

Can't think of any other questions I want to ask but they will come to me in due time...

Thanks

You've always been in it for the money but you've been pursuing a bio degree?

 

[dominicandoctor]

Yeah I think med school and residency will prove too grueling if you're just doing it for the money.. you kinda have to like helping people otherwise you will be miserable.

 

[forthemoney]

pursue a philosophy phd

Sounds cool, but what would I use that for and how much money will that bring me?

I've heard there's good money in social work

good money in social work? How much money are we talking here? anesthesiologists are making 300k ish first year out of residency... Am I wrong?

 

[tantacles]

Sounds cool, but what would I use that for and how much money will that bring me?

Like, $5.

good money in social work? How much money are we talking here?

Annual salary of $5.

anesthesiologists are making 300k ish first year out of residency... Am I wrong?

They also make $5.

 

[sliceofbread136]

Sounds cool, but what would I use that for and how much money will that bring me?



good money in social work? How much money are we talking here? anesthesiologists are making 300k ish first year out of residency... Am I wrong?

But think of the path to the that first year out of residency. You're spend 4 years out of the work force and paying ~80k for med school. Then you have 4 years of residency where you're only making ~35k a year. That's alot of potential money lost before you get your 300k salary.

 

[Druggernaut]

This would be absolutely unbearable if all I was after was money. It's a nice perk, and I wouldn't become a doctor if I wasn't going to make good money, but Jesus: I get genuinely excited learning some of this stuff, and when I come across something and know exactly what the underlying mechanisms are and how to treat it, it's awesome. If I didn't have that to help keep me going, this would be a 7+ year march through hell, and performance might suffer as a result. FM and pediatrics aren't banking 300K.

 

[forthemoney]

Any knowledgeable person on sdn will tell you that going into medicine is a stupid idea if your after money. Why? Because medicine and being a good physician requires passion and if your after money you won't find yourself happy with it

why not? 300k as an average yearly salary is enough for me to put up with work that I don't like to do. Hell, 200k is enough really.

I like the patients because they bring me big money. I wouldn't become a doctor if I was making 50k yearly after all the work.

what's money?

money is typically that stuff you use to buy food.

You've always been in it for the money but you've been pursuing a bio degree?

Did I make the wrong choice? I figure that making 300k after some years of med school and residency is a good salary and lets say you are 30... How many 30 year olds make 300k ? They are still trying to break 80k if they haven't already.

Yeah I think med school and residency will prove too grueling if you're just doing it for the money.. you kinda have to like helping people otherwise you will be miserable.

300k average salary is how I went through college with a decent gpa. Sure it was annoying at times but the loans and stuff allow me to live somewhat decent. Getting a 4k refund check every 16 weeks is enough to live off while in school. another 4 years of doing the same and being even closer to that big monies is even more worth it.

 

[forthemoney]

...

 

[TheMightySmiter]

Troll.

 

[tantacles]

money is typically that stuff you use to buy food.

And love! Don't forget love!

 

[QuizzicalApe]

Sounds cool, but what would I use that for and how much money will that bring me?

seven figures, probably. seven significant figures.

and you're already asking questions. that is the most important part

 

[forthemoney]

This would be absolutely unbearable if all I was after was money. It's a nice perk, and I wouldn't become a doctor if I wasn't going to make good money, but Jesus: I get genuinely excited learning some of this stuff, and when I come across something and know exactly what the underlying mechanisms are and how to treat it, it's awesome. If I didn't have that to help keep me going, this would be a 7+ year march through hell, and performance might suffer as a result. FM and pediatrics aren't banking 300K.

This is another good point. This is why I like the idea of becoming an anesthesiologist because they are banking 300k. I talked to my FM doc and she said she isn't banking 200k a year and she is in a private practice. she does drive a Porsche though and owns a big house.

Are you saying that 300k yearly isn't worth the 7 year march? I for one know I can do a LOT with 300k and have some exciting times outside of work. I can barely imagine what all I could do with that much money.

Troll.

nope. These questions have been on my mind for a month now and its time for me to come to a conclusion. I hear people saying that you should become a doctor because of the love for the patients and not the money. Thats sounds all nice but to me, 300k is just soo tasty.

By the way, did you have anything else to contribute or was "Troll" all you came here to say? if you came here just to say that then "thank you and don't come again "

And love! Don't forget love!

i guess you could buy love with it. Most relationships go down the drain once a partner in the relationship loses a job or goes broke. Lucky for me, I have a girlfriend that I have been with for ooo... 3 years?

seven figures, probably. seven significant figures.

and you're already asking questions. that is the most important part

and which job would that be that would be giving me 7 figures? yearly?

Like, $5.



Annual salary of $5.



They also make $5.

yup, ill stick with becoming an MD and making 300-300k as an average salary.

But any idea how much the mal practice insurance is for anesthesiologists? I know it varies by area so lets say some place like alaBAMA.

Are you what they call a troll? If so you are too obvious.

But think of the path to the that first year out of residency. You're spend 4 years out of the work force and paying ~80k for med school. Then you have 4 years of residency where you're only making ~35k a year. That's alot of potential money lost before you get your 300k salary.

hmm... good point. but what would be good to compare it to? I know I lose potential money but... what are you comparing it to?

 

[theseeker4]

not sure if this is in the right forum but.....

I'm looking to make a bunch of money. Is becoming a medical doctor the right choice?

My friend says that i should just join the military and have them pay for me all the way while giving me a good living too but i doubt i will make as much money as i would just taking out loans and stacking on debt.

I have my bachelors in biology within 6 months and then i can apply to medical school when i take the mcat. Money has been my motive since highschool and i have been making good grades since then. 3.75 gpa. ( b+'s really knock down an average!!)

can't think of any other questions i want to ask but they will come to me in due time...

Thanks

0/10

 

[SpecterGT260]

Hope her investment pays off

 

[tantacles]

Not a troll here. I just think you should have posted this in the "stupid questions" topic.

 

[forthemoney]

Hope her investment pays off

her investment? What are you getting at?

 

[QuizzicalApe]

and which job would that be that would be giving me 7 figures? yearly?

i'd think most jobs with a philosophy phd consisting of teaching and publishing would be able to pull down a cool 7 sigfigs per year

 

[tantacles]

i'd think most jobs with a philosophy phd consisting of teaching and publishing would be able to pull down a cool 7 sigfigs per year

 

[Druggernaut]

This is another good point. This is why I like the idea of becoming an anesthesiologist because they are banking 300k. I talked to my FM doc and she said she isn't banking 200k a year and she is in a private practice. she does drive a Porsche though and owns a big house.

Are you saying that 300k yearly isn't worth the 7 year march? I for one know I can do a LOT with 300k and have some exciting times outside of work. I can barely imagine what all I could do with that much money.

Anesthesia will take you nine years after college, and fellowships are becoming more and more important, which will make it even longer. And who's to say you'll match into that? If you're mailing it in, you may not have the scores to do it (even if you did well in college, medical school is a whole different ballgame that you can't really imagine until you're there). Then consider CRNA invasion of the field and that you'll probably be putting in around 60 hours a week, and I think that possibility of $300K isn't quite as appealing.

I'm close with people who don't have college degrees but are my age and making $100K already, and by the time I'm done with residency they may be earning more than your goal of $300K. It wasn't a sure thing for them, but it paid off, and they may end up earning more than I will with far less work. That would certainly eat away at me as I whittled away my 20's in the library and hospitals if all I cared about was money.

 

[Cinclus]

Go into business.

 

[Tin Man]

I'm probably stupid for doing this, but I'll assume you're serious.

The problem with going into medicine "for the money" has to do with WHY doctors make as much money as they do.

1) Doctors end up hundreds of thousands of dollars in debt, and therefore need the money to EVENTUALLY pay off their debt. Riches won't happen for a long time.

2) Doctors are extremely easy to sue, given the high liability for the job they do.

3) Doctors typically have to work a LOT of hours (and therefore have less time to spend all that money anyway).

4) Doctors are expected to be keeping up with their field for the rest of their practice, meaning they are constantly having to dedicate time outside of work to reading and studying.

5) Doctors are, by virtue of being around sick people all the time, constantly exposed to disease and other such issues.

6) The job of a doctor can't be delegated to a non-doctor, meaning that the doctor actually has to do doctor stuff to make money as a doctor rather than simply hiring illegal immigrants to run the practice.

7) Being a doctor is HARD.

The point being that while being a doctor MAY eventually pay off financially, it's almost certainly going to take a LONG time. And during that time, you're going to be expected to perform an exceptionally difficult job for long hours. The "riches" that come from being a doctor doesn't seem so sweet.

If you want to make money, go into real estate. Or investment. Or something along those lines. You can make lots of money fast, set your own hours, and run a company from your home. Don't take medical school slots away from the people who actually want to be a doctor for reasons that make sense, given the context of the job.

Oh, and BTW: If you're applying to medical school with your future planned on landing in one of the highest paid and most competitive residencies out there, you really need to take a step back. I would imagine that someone who is in medical school for the money rather than a genuine facination with the material isn't going to be a top scorer in the class, and even if you are, you are in absolutely no way destined for a 300K medical career. You could very well end up matching into something a little less lucrative. You REALLY want to risk that, given the possible alternatives to medical school? If you're in this for the money, you're going to be awfully disappointed if you only end up making 150K a year after fellowship...

 

[ppfizenm]

http://www.thisamericanlife.org/radio-archives/episode/423/the-invention-of-money

This will tell you what you need to know about money.

 

[kpcrew]

If you want to make money, there are easier options.

 

[tantacles]

http://www.thisamericanlife.org/radio-archives/episode/423/the-invention-of-money

This will tell you what you need to know about money.

Dude, that episode of This American Life was amazing.

Also, Ira Glass is my dream man.

 

[kestralray]

i'm probably stupid for doing this, but i'll assume you're serious.

The problem with going into medicine "for the money" has to do with why doctors make as much money as they do.

1) doctors end up hundreds of thousands of dollars in debt, and therefore need the money to eventually pay off their debt. Riches won't happen for a long time.

2) doctors are extremely easy to sue, given the high liability for the job they do.

3) doctors typically have to work a lot of hours (and therefore have less time to spend all that money anyway).

4) doctors are expected to be keeping up with their field for the rest of their practice, meaning they are constantly having to dedicate time outside of work to reading and studying.

5) doctors are, by virtue of being around sick people all the time, constantly exposed to disease and other such issues.

6) the job of a doctor can't be delegated to a non-doctor, meaning that the doctor actually has to do doctor stuff to make money as a doctor rather than simply hiring illegal immigrants to run the practice.

7) being a doctor is hard.

The point being that while being a doctor may eventually pay off financially, it's almost certainly going to take a long time. And during that time, you're going to be expected to perform an exceptionally difficult job for long hours. The "riches" that come from being a doctor doesn't seem so sweet.

if you want to make money, go into real estate. Or investment. Or something along those lines. You can make lots of money fast, set your own hours, and run a company from your home. Don't take medical school slots away from the people who actually want to be a doctor for reasons that make sense, given the context of the job.

oh, and btw: If you're applying to medical school with your future planned on landing in one of the highest paid and most competitive residencies out there, you really need to take a step back. I would imagine that someone who is in medical school for the money rather than a genuine facination with the material isn't going to be a top scorer in the class, and even if you are, you are in absolutely no way destined for a 300k medical career. You could very well end up matching into something a little less lucrative. You really want to risk that, given the possible alternatives to medical school? If you're in this for the money, you're going to be awfully disappointed if you only end up making 150k a year after fellowship...

+1

 

[TheMightySmiter]

nope. These questions have been on my mind for a month now and its time for me to come to a conclusion. I hear people saying that you should become a doctor because of the love for the patients and not the money. Thats sounds all nice but to me, 300k is just soo tasty.

By the way, did you have anything else to contribute or was "Troll" all you came here to say? if you came here just to say that then "thank you and don't come again "

With those rebuttal skills I think you'd have more luck being a litigator.

 

[kestralray]

Anesthesia will take you nine years after college, and fellowships are becoming more and more important, which will make it even longer. And who's to say you'll match into that? If you're mailing it in, you may not have the scores to do it (even if you did well in college, medical school is a whole different ballgame that you can't really imagine until you're there). Then consider CRNA invasion of the field and that you'll probably be putting in around 60 hours a week, and I think that possibility of $300K isn't quite as appealing.

I'm close with people who don't have college degrees but are my age and making $100K already, and by the time I'm done with residency they may be earning more than your goal of $300K. It wasn't a sure thing for them, but it paid off, and they may end up earning more than I will with far less work. That would certainly eat away at me as I whittled away my 20's in the library and hospitals if all I cared about was money.

Yeah, seriously. I'm working as a lab tech for my gap year before applying to med school and making about $28K while I have friends who graduated with a comp sci degree and are making $80k+ straight out of college--and they got the job straight out of college too. (really smart friends, granted, who totally deserve the money).

 

[tkim]

http://benbrownmd.wordpress.com/

http://www.er-doctor.com/doctor_income.html

 

[Got Em]

Money on my mind, chea, money is all i think of.

 

[SoundofSilver]

If there isn't something about medicine that you genuinely like or are passionate about then you are going to be quite miserable not only in med school/residency but throughout your entire career.

As a doctor, you likely aren't going to get "rich" (due to increasing debt burdens and an inevitable decline in reimbursements). You'll work incredibly hard to maintain what today is considered a decent middle class living (but you'll still do better than most as the country becomes increasingly poorer and the dollar declines). Job security is probably a better driving force for pursuing medicine than making alot of money. Of course that driving force must be coupled with some sort of intrinsic interest in medicine.

 

[plumazul]

Go into business.

THIS is your answer OP.

 

[forthemoney]

Anesthesia will take you nine years after college, and fellowships are becoming more and more important, which will make it even longer. And who's to say you'll match into that? If you're mailing it in, you may not have the scores to do it (even if you did well in college, medical school is a whole different ballgame that you can't really imagine until you're there). Then consider CRNA invasion of the field and that you'll probably be putting in around 60 hours a week, and I think that possibility of $300K isn't quite as appealing.

I'm close with people who don't have college degrees but are my age and making $100K already, and by the time I'm done with residency they may be earning more than your goal of $300K. It wasn't a sure thing for them, but it paid off, and they may end up earning more than I will with far less work. That would certainly eat away at me as I whittled away my 20's in the library and hospitals if all I cared about was money.

nine years is a good bit. but lets put this into perspective.
4 years of medical school racking up 150k in loans
5 years in residency making 35k plus 1500 each year after the first year
True that the crna is invading the field but they have limits. They are only making my job easier. but if that causes my pay to go down, i could easily switch to another field that makes 300k on average.

The average person isn't popping 300k in their 30's are they? if so, where are they because I don't know of any.

What are those people who are your age doing while making 100k? How old are you so I can put this into perspective. I doubt they would be making more than my goal of 300k without any type of degree because that is such a small percentage of people, I don't know how you found them.

given the fact that you are in residency, I will say that 4 years of medical school would make the average person 26. Are you seriously telling me that you know people who are banking 100k without a degree?

I'm all for doing less work for more money. I'm listening

I'm probably stupid for doing this, but I'll assume you're serious.

The problem with going into medicine "for the money" has to do with WHY doctors make as much money as they do.

1) Doctors end up hundreds of thousands of dollars in debt, and therefore need the money to EVENTUALLY pay off their debt. Riches won't happen for a long time.

2) Doctors are extremely easy to sue, given the high liability for the job they do.

3) Doctors typically have to work a LOT of hours (and therefore have less time to spend all that money anyway).

4) Doctors are expected to be keeping up with their field for the rest of their practice, meaning they are constantly having to dedicate time outside of work to reading and studying.

5) Doctors are, by virtue of being around sick people all the time, constantly exposed to disease and other such issues.

6) The job of a doctor can't be delegated to a non-doctor, meaning that the doctor actually has to do doctor stuff to make money as a doctor rather than simply hiring illegal immigrants to run the practice.

7) Being a doctor is HARD.

The point being that while being a doctor MAY eventually pay off financially, it's almost certainly going to take a LONG time. And during that time, you're going to be expected to perform an exceptionally difficult job for long hours. The "riches" that come from being a doctor doesn't seem so sweet.

If you want to make money, go into real estate. Or investment. Or something along those lines. You can make lots of money fast, set your own hours, and run a company from your home. Don't take medical school slots away from the people who actually want to be a doctor for reasons that make sense, given the context of the job.

Oh, and BTW: If you're applying to medical school with your future planned on landing in one of the highest paid and most competitive residencies out there, you really need to take a step back. I would imagine that someone who is in medical school for the money rather than a genuine facination with the material isn't going to be a top scorer in the class, and even if you are, you are in absolutely no way destined for a 300K medical career. You could very well end up matching into something a little less lucrative. You REALLY want to risk that, given the possible alternatives to medical school? If you're in this for the money, you're going to be awfully disappointed if you only end up making 150K a year after fellowship...

You make a lot of good points. If medical school isn't the way to go if I want to make a lot of money? I hear you say that real estate would be my best bet but on average how many people are banking 300k in real estate?

being in a job thats a little less lucrative than 300k is about 270-290k. thats a little less lucrative... 150k per year is a completely different ball field. Thats a LOT less lucrative. but perhaps im splitting hairs here...

on the other hand, how many people are banking 300k on AVERAGE in these professions? For competitive sake, lets say that i don't end up in the field I wanted ( anesthesiology) and somehow end up with a 3.5 average in medical school. What other choices do I have to pick from?

Lets name a few....

dermatology?
cardiac/ thoracic surgery?
radiology?
gastroenterology?
gynecological oncology?
neurological surgery?
nuclear medicine?

I can keep going but these are professions that are making 300k on average and some that I listed are banking 500k like c/t surgery and neurological surgery. I haven't listed any orthopedic specialties and those are commanding 300k+ averages.\

If you want to make money, there are easier options.

what are the easier options? list them please

 

[sam500]

what are the easier options? list them please

If money is what makes you happy, then you are luckier than most.

With a science background, I'd suggest going into patent law or becoming a consultant.
You can make millions either way, especially if you become a partner.

If you take a few maths/finance courses you could also go into finance which stands to make you much more than medicine as well. Expect to work long hours however.

This is very basic stuff, so you should do more research on your own to find out more.

While I disagree with your motives, I wish you the best of luck.

 

[LizzyM]

Think of something people use every day and figure out a way to sell it to them. A house on the market in Texas was featured in The Wall Street Journal today for >$20 million. Built by a guy in the cellphone business. The taxes on the place are more than the average pediatrician makes in a year.

 

[GoZags]

Lol this thread needs to be closed

 

[Druggernaut]

nine years is a good bit. but lets put this into perspective.
4 years of medical school racking up 150k in loans
5 years in residency making 35k plus 1500 each year after the first year
True that the crna is invading the field but they have limits. They are only making my job easier. but if that causes my pay to go down, i could easily switch to another field that makes 300k on average.

The average person isn't popping 300k in their 30's are they? if so, where are they because I don't know of any.

What are those people who are your age doing while making 100k? How old are you so I can put this into perspective. I doubt they would be making more than my goal of 300k without any type of degree because that is such a small percentage of people, I don't know how you found them.

given the fact that you are in residency, I will say that 4 years of medical school would make the average person 26. Are you seriously telling me that you know people who are banking 100k without a degree?

I'm all for doing less work for more money. I'm listening

It's pretty difficult to switch to another field, especially one that will make the money you're looking for. And you'll have to go through residency again, making $40-50K. Since the government won't fund a second residency, you'll have to find a place that's willing to eat that cost, plus the extra money they get for training residents.

Without going into too much detail, I know someone very well (so I trust he's not exaggerating) who is 27 and made around $130K last year without a degree. He's still getting things going, so the bottom could fall out or an unforseen problem could bankrupt him, but he's gotten through the roughest part, and those risks are shrinking. And now that he actually has money in the bank, he'll be able to turn that into more much more quickly. He doesn't get any benefits, though, and is still uninsured as of the last time I talked to him. He's in one of the non-medical fields mentioned earlier in this thread by other posters. He had a good time talking about how he gets to spend a lot of time playing video games while I was working through the readings my school assigned to me during my winter break.

Now that I've seen it done, it doesn't seem that hard, though I very much doubted it would work when he was first starting things up. Now I'm planning to help fund my retirement by investing with him once I'm in my 30's and finally making real money.

That would leave a pretty bad taste in your mouth if you weren't excited about being a doctor, wouldn't it?

 

[forthemoney]

With those rebuttal skills I think you'd

have more luck being a litigator.

you know... I had 4 teachers say that I should go to law school... with my

bs in biology, I doubt I could and even if I did, I wouldn't be making 200

-300k on average now would i?

Yeah, seriously. I'm working as a lab tech for

my gap year before applying to med school and making about $28K while I

have friends who graduated with a comp sci degree and are making $80k+

straight out of college--and they got the job straight out of college too.

(really smart friends, granted, who totally deserve the money).

hmmm... 80k out of college...
4 * 80k for medical school
4 * 95k for residency
2* 105k for extra 2 years of residency..

320 + 380 + 210 = 910k

vs....

4 years of medical school with 150k debt
6 years in residency making
GL-1 - $49,584
GL-2 - $51,176
GL-3 - $53,188
GL-4 - $55,035
GL-5 - $56,933
GL-6 - $59,272
------------------------
325,188 subtracting the 150k debt === 175,188


So lets keep playing this out to see when the medical student will "catch

up".

Med student pops out of residency commanding a 300k salary. Lets say he

does this for 5 years just for lol's

5 * 300k = 1.5 mil. adding the 175k he has makes it 1.67 mil.
---------------------------------------------------------------------------

--------------

Back to our computer science guy

He is sitting on 910k and after 5 more years 115k per year ( he is a hard

worker)

so we have 115k * 5 years... 575k + 910k he was sitting on = 1.48 mil.

Perhaps my calculations are off and if they are, please tell me so and I will edit them.

seems that it takes 15 years for him to catch up.... hmm... Is becoming a doctor really worth it... 5 more years and the guy retires... hmm...

 

[Tin Man]

You make a lot of good points. If medical school isn't the way to go if I want to make a lot of money? I hear you say that real estate would be my best bet but on average how many people are banking 300k in real estate?

being in a job thats a little less lucrative than 300k is about 270-290k. thats a little less lucrative... 150k per year is a completely different ball field. Thats a LOT less lucrative. but perhaps im splitting hairs here...

on the other hand, how many people are banking 300k on AVERAGE in these professions? For competitive sake, lets say that i don't end up in the field I wanted ( anesthesiology) and somehow end up with a 3.5 average in medical school. What other choices do I have to pick from?

Lets name a few....

dermatology?
cardiac/ thoracic surgery?
radiology?
gastroenterology?
gynecological oncology?
neurological surgery?
nuclear medicine?

I can keep going but these are professions that are making 300k on average and some that I listed are banking 500k like c/t surgery and neurological surgery. I haven't listed any orthopedic specialties and those are commanding 300k+ averages.

Dude, you're missing the point. You're under the delusion that becoming a doctor is somehow the easiest way to make a lot of money. You're absolutely right that being a doctor will make money, and that there are specialists that do make that much money. But the people who get into those residencies are typically very good in medical school, and of the people who get into those residences, the ones that make a lot of money are typically very good at what they do. And the people who are very good at what they do tend to be the ones that put in an absurd amount of time, effort, and work into the job.

You see the trend? Good doctors make a lot of money, but I haven't met any good doctors that are good doctors BECAUSE they want to make a lot of money. They put in all the extra work because they cared about what they were doing and were willing to make a lot of hard sacrifices, financial and otherwise, to get there. The money is a side-effect of a passion for medicine.

I have no doubt of the possibility that you can motivate yourself through the hardship of medical school based on financial motivation and the somewhat naive dream that you'll certainly be able to land in one of the higher paying residency programs. But you aren't absorbing that what you would have to sacrifice as a medical student and as a physician is not going to be worth the CHANCE (as in, the possibility without certainty) of getting into a job that you consider to be financially worth it. In fact, even some of the 300K/year physicians are advising pre-meds to just avoid medicine altogether.

If you're after money, then becoming a doctor simply isn't the way you want to go. I would bet dollars to donuts that if you took just half the amount of time and effort needed to become a highly paid physician, and instead put that toward becoming a really good invester, banker, real estate agent, car salesman, or something of the like, then you'll be making two or three times more than the vast majority of physicians in the US.

And just an FYI, when you start spouting of "300K" being made as an anaesthesiologist, you're kinda confirming how extremely naive you are about the life of a physician. You have to pay a few thousand a year just to maintain your licenses, a few thousand more for the costs of running a practice, and a few tens of thousands of dollars a year for malpractice. That's not taking into account the "civilian" costs of housing, car payments, and possibly a family. Oh, and anaesthesiologists are a favorite target of sue-happy people, considering that if they even DREAMED they were uncomfortable during a surgery, you're the one they can hold responsible. Anaesthesiologists aren't paid more because their job is "harder"; they're paid more to balance out the gargantuan sums of money many of them have to pay out just to practice.

 

[ljpm8224]

Go into business.

^^ this. The richest guy I ever knew (billionaire) owned a freaking ladder company, of all things. a family company. that made ladders.

The second richest guy I ever knew owns a chain of nuclear power plants.

The 3rd richest guy I ever knew was CEO of a health insurance company.

tied for 4th were a bunch of investment bankers. guy on my desk on the trading floor got a $5 million BONUS one year when our team pulled good numbers.

you have a good gpa, just go be an ibanker if you're cut throat, willing to work long hours and grind away as an analyst for a few years of 100hr weeks. You'll be surrounded by douches who also love only money. and love spending money.

 

[zwitterion34]

http://benbrownmd.wordpress.com/

http://www.er-doctor.com/doctor_income.html

Thanks and I enjoyed your two videos... But noooooo!

 

[druggeek]

Just make sure you like the medical sciences and medicine in general. Other than that, you're fine. 5/5 of my relatives who are doctors went into it for the money and theyre very happy (granted they did like all the medical sciences).

don't listen to anyone telling you to go into business (srs). Odds are very good you'll make 40k/year... maybe slightly higher, doing a job you hate.

 

[vapor90]

find a job on wall street. you'll probably fuel our economy's collapse but what do you care you'll be making bank.

 

[mishaS]

OP you don't understand that there are going to be substantial medicare/medicaid cuts in the future, that will kill your reimbursement do you. Also, doctors that patients don't like eg doctors like you the one you'd aspire to be - maxing out patient load while minimizing patient interaction as you see them as a paycheck - are lawsuit magnets.

Just go into the pharmaceutical industry, so we don't have to call a douche like you a colleague.

 

[torshi]

not sure if this is in the right forum but.....

I'm looking to make a bunch of money. Is becoming a medical doctor the right choice?

My friend says that I should just join the military and have them pay for me all the way while giving me a good living too but I doubt I will make as much money as I would just taking out loans and stacking on debt.

I have my bachelors in biology within 6 months and then I can apply to medical school when I take the mcat. Money has been my motive since highschool and I have been making good grades since then. 3.75 gpa. ( b+'s really knock down an average!!)

Can't think of any other questions I want to ask but they will come to me in due time...

Thanks

You're most likely some bored Asian kid trying to be funny in front of his friends. Disgusting.

 

[YouMDbro]

^^ this. The richest guy I ever knew (billionaire) owned a freaking ladder company, of all things. a family company. that made ladders.

The second richest guy I ever knew owns a chain of nuclear power plants.

The 3rd richest guy I ever knew was CEO of a health insurance company.

tied for 4th were a bunch of investment bankers. guy on my desk on the trading floor got a $5 million BONUS one year when our team pulled good numbers.

you have a good gpa, just go be an ibanker if you're cut throat, willing to work long hours and grind away as an analyst for a few years of 100hr weeks. You'll be surrounded by douches who also love only money. and love spending money.

hahahhahahah this is hilarious. so i guess we'd all be billionaires or at least be pulling milions if we spent the time we put into medicine elsewhere...strong anecdotal evidence. you can't just assume that being succesful in medicine means that you can be successful in business. you aren't taking into account how many people DON'T make it in business, it's really not that easy to make 7 figures. i'd go as far as saying that 95% of the people in business don't make the money the average doctor does. opportunity cost is another thing, but the point you're bringing up with your stories is hilariously dumb.