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175K?
no way dude. I'll give you your 100 to 120K in NYC and no where else. Then you'll take the hygienists NYC salary of 80 to 100K.
Lets run some basic stats:
- Hygiene is a 2 yr program at a CC and OD is a 4 yr prof program.
- Hygiene will probably cost 20K for the whole ride and OD will cost 80K for you since you're living at home.
- Your 80K will turn into 108K after yearly tuition increases and loan capitalization. Then adding on interest after 10 years that will turn into $150K. So you'll spend $150K cash for your education and you give up working for 4 years.
- Hygienist works for 4 years that you're in school and saves the $150K that you'll spend on your education. Hygienist that earns $80K will earn around $53 post tax x 4 years = $214K + the $150K that they save by skipping OD school =
$364K
- If you as an OD earn 100K (60K post tax) then you'd need to work another 6 years just to catch up to the hygienist. But wait she'll probably get a salary increase in the 4 years she has ahead of you therefore she will probaly earn 53K + 53K + 60K (which is 90K pretax) + 60K = $226K + $150K =
$376K MORE THAN YOU. So then take 376/60 = 6.27 YEARS. Also remember I was very generous and gave you a starting salary of 100K, this probably won't happen right away so I anticipate: A hygienist will
OUTEARN YOU BY $500K or HALF A MILLION DOLLARS. You'll catch up after 8 or more years. Good luck!