"Our peers in tech and other non-medicine fields are making 6 figures already"

[zurc2014]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

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[LizzyM]

Peeps with masters degrees in quant/coding who are working for consulting firms.

 

[Angus Avagadro]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

My one son has a BA, but chose to drive a truck as he can make 3X what his major would justify. He made 90k+/yr for the last few years. 6 figures in our economy is quickly becoming middle class. You don't need tp work in tech or finance to make 6 figures. He is in his very early 30's.

 

[Angus Avagadro]

i make 6 figures currently, will be leaving it to start medical school in the summer... but most of my friends who didn't stay in academia are making at or more than my salary. it really doesn't go as far as it sounds, especially in the cities most of these people live in.

Yep. The $50 bill is the new $20.

 

[MawbleIM]

Idk if you’re on Reddit but there was the biggest troll post about something like this recently

 

[RangerBob]

My friends from high school all made $200k or more!

Ok, no they didn’t. A number are unemployed and living with their folks, but most are in tech/engineering/law including Apple/Google/Pixar/etc. Frankly, a lot of them are working miserable hours and wish they’d gone to med school. It’s hard to find meaning in a lot of office-based jobs.

For what it’s worth, my classmate in the Air Force making about 1/5 what I make seems the happiest. He and his wife got to spend years living in Europe visiting quaint European villages while creating a pretty big family. Now he lives in an “undesirable” area stateside now but they’re super happy.

Here’s the secret to happiness in life:
1) Make enough to afford the basics/necessities ($50-$100k depending where you live)
2) Live near your family/friends
3) Marry the right person

For most people, those things matter far more than the job you take or your salary when it comes to happiness/quality of life.

 

[zurc2014]

Wow. Maybe its just the community I come from lol. I know quite a few people and I can count on my hands the people that are not in medicine/nursing that make 6 figures. Where I'm from, if you are making 80Kish you are doing extremely well.

 

[chilly_md]

Wow. Maybe its just the community I come from lol. I know quite a few people and I can count on my hands the people that are not in medicine/nursing that make 6 figures. Where I'm from, if you are making 80Kish you are doing extremely well.

This is my experience as well. I can probably name 1 person in my age range who’s definitely making 6 figures now after school.

 

[Shotapp]

Idk if you’re on Reddit but there was the biggest troll post about something like this recently

Are you talking of the post about working 20hrs/week but make 500K/yr but wants to go to med school?

 

[nicesecrets]

Hi OP, I work in pharma and with base, bonus, stocks etc, my package is about $300k right now. I am in my late twenties and have a PhD. Six figures is not that high anymore in certain fields, my friends in tech/finance with Bachelor's or Masters make even more than me especially at the big companies.

 

[ontiquicuo]

Here’s the secret to happiness in life:
1) Make enough to afford the basics/necessities ($50-$100k depending where you live)
2) Live near your family/friends
3) Marry the right person

Good plan. I'll add
4) Stop comparing others' lives to yours.

 

[Fission Chips]

I'm a PGY-2 in Urology. Of the friends I keep in contact with from college:

1) Financial advisor, makes ~300k now. Started at 150k out of Business school. Wife is climbing the ladder at a marketing company, makes 150k+ depending on bonuses. Both work ~50 hours per week.
2) Software analyst - first job out of college 80k at age 22. Now at 140k + stock options (don't know what thats worth). Works 32 hours per week on average. Sometimes more sometimes less depending on projects.
3) Dentist - 220k, one year residency finished at age 27. Works 4 days per week.
4) Started a wood finishing company, pays himself 100k but company value is growing. Works ~60 hours per week.
5) Regional manager for Tesla - makes 200k, works ~55 hours per week.
6) Working at a medical translation company - 70k, 40 hours per week.
7) Architect - 65k, 40 hours per week
8) Marketing - 125k, 40 hours per week
9) Hydrologist - 130k, 40 hours per week
10) Pathology resident - 70k (in HCOL). Wife makes 130k as a medical science liaison after her PhD.
11) CPA - makes ~150k. Works more than I do in tax season, minimal hours outside of that.

Me: 60k at 60-80 hours per week depending on call. Wife makes a little less at similar hours getting her PhD. She has external funding though, I think her stipend from the University is like 21k. Overall I tend to think I have very successful friends outside of medicine... May be selection bias. My job is way more interesting IMO, very happy with my decision but currently very tired as a junior resident.

 

[YCAGA]

I think something that is lost in all of these discussions is that your disposable income and therefore lifestyle AND savings/investment rates are much, much higher at $400k (attainable for many specialties) than they are at $150-200k—more than double. Or in other words, double the pay really can result in something like 25% more spent on lifestyle and 3-10x more saved/invested per year. The federal tax brackets in the US are very wide for married couples so it isn’t like Europe where your net pay falls off a cliff for every dollar (Euro) made past $100-200k.

 

[Select All That Apply]

I think something that is lost in all of these discussions is that your disposable income and therefore lifestyle AND savings/investment rates are much, much higher at $400k (attainable for many specialties) than they are at $150-200k—more than double. Or in other words, double the pay really can result in something like 25% more spent on lifestyle and 3-10x more saved/invested per year. The federal tax brackets in the US are very wide for married couples so it isn’t like Europe where your net pay falls off a cliff for every dollar (Euro) made past $100-200k.

It's kind of crazy when you're incentivized to keep an empty apartment for an entire year for tax write off purposes instead of just going for a pure nomadic lifestyle and taking it all as an income tax hit.

 

[SnowyMoon]

Y'all know some pretty interesting people. My high school was in a lower SES area, and I majored in something that wasn't science/business (meaning most of my undergrad friends didn't either), and I know only one person that makes over 100k. For clarity, I'm in my late 20s, so my undergrad/high school friends are all well into adulthood. I also grew up in a city, and went to undergrad in a college town, so it's not like my friends are all making "rural COL" money. There definitely has to be some kind of bias here towards those who grew up in richer areas, HCOL cities, or whose friend groups majored in the more "lucrative" degrees.

 

[LizzyM]

Y'all know some pretty interesting people. My high school was in a lower SES area, and I majored in something that wasn't science/business

Bottom line: there is money in math.

 

[deleted1114112]

Medicine is super skewed towards the wealthy...I would imagine you are just receiving a perspective from a skewed demographic.

 

[deleted1017120]

I grew up poor and have absolutely zero connections to medicine.

Several of my/my wife's college friends have been making 6 figures (or near that) for many years now. Most of our high school acquaintances aren't fairing that well (or well at all, but there are some that are doing well), but that's just population statistics for you.

There are a lot of different fields that can lead to a successful lifestyle. Many people in our academic/professional circles also don't understand that the economy/world is changing and the pipeline of school->college->degree->employed position isn't the only way to make a good living anymore.

That said, please stop saying things like "100k is the new middle class". It's borderline insulting. This is about 50% higher than the median household income for the country. Anyone making 6 figures is making an above average, comfortable salary that they should be able to at least live off of without the constant fear of living paycheck-to-paycheck.

 

[Angus Avagadro]

I grew up poor and have absolutely zero connections to medicine.

Several of my/my wife's college friends have been making 6 figures (or near that) for many years now. Most of our high school acquaintances aren't fairing that well (or well at all, but there are some that are doing well), but that's just population statistics for you.

There are a lot of different fields that can lead to a successful lifestyle. Many people in our academic/professional circles also don't understand that the economy/world is changing and the pipeline of school->college->degree->employed position isn't the only way to make a good living anymore.

That said, please stop saying things like "100k is the new middle class". It's borderline insulting. This is about 50% higher than the median household income for the country. Anyone making 6 figures is making an above average, comfortable salary that they should be able to at least live off of without the constant fear of living paycheck-to-paycheck.

I agree with most of what you said. Remember, many people prefer and are content with regular jobs with stable hours and steady routine. USPS, servers, truckers, etc.. McDonald 's in our area start workers at $15/hr with a $300 dollar signing bonus. That would translate to over $30,000 if they worked a regular 40 hr work week. So 2 min wage workers could conceivably make slightly over $60,000 a year. 100k, combined income,( or close to it), for 2 people with regular,(not min wage), jobs should be doable if one is willing to put the time in. Many people stay in lower paying jobs because they want to stay close to family. I grew up in a rural area and many classmates didn't want to leave the small town and family. Many people don't have the entrepreneur spirit to start their own business. Small business owners put in many, many, hours to keep their businesses afloat. So many factors contribute to that median income figure and the 100k household income should be doable for most 2 income families willing to work full time. Lastly, many people are bad with managing money, and educational status doesn't matter. My in laws have Masters and PhD degrees and are terrible with money. They are always just scraping by despite good teaching jobs.

 

[YCAGA]

That said, please stop saying things like "100k is the new middle class". It's borderline insulting. This is about 50% higher than the median household income for the country. Anyone making 6 figures is making an above average, comfortable salary that they should be able to at least live off of without the constant fear of living paycheck-to-paycheck.

I normally fall on the side of the argument you are making but what they said is only insulting if reality offends you. You made a strawman by misquoting what they said…they said “quickly becoming middle class.” 7% inflation from Oct 2020-Nov 2021 that a $100k lifestyle a year ago costs $107k now, and I can assure you that most people did not get 7% raises this year. Inflation will probably slow down but will always be a factor.

The main factor you are missing is that 60 million Americans live in the NYC metro area and California alone and those are far from the only expensive areas in the US. $100k isn’t approaching middle class in those areas—it already is.

Another thing you didn’t factor in is how expensive non-luxuries like health insurance and college for kids are for someone making $50-60k/year, which it sounds like you think is “middle-class.” Even good insurance plans can have out of pocket max of $5k+ year. Just takes one family memeber with a chronic condition or a major event and you just spent a big percentage of your yearly net pay.

 

[deleted1017120]

I normally fall on the side of the argument you are making but what they said is only insulting if reality offends you. You made a strawman by misquoting what they said…they said “quickly becoming middle class.” 7% inflation from Oct 2020-Nov 2021 that a $100k lifestyle a year ago costs $107k now, and I can assure you that most people did not get 7% raises this year. Inflation will probably slow down but will always be a factor.

The main factor you are missing is that 60 million Americans live in the NYC metro area and California alone and those are far from the only expensive areas in the US. $100k isn’t approaching middle class in those areas—it already is.

Another thing you didn’t factor in is how expensive non-luxuries like health insurance and college for kids are for someone making $50-60k/year, which it sounds like you think is “middle-class.” Even good insurance plans can have out of pocket max of $5k+ year. Just takes one family memeber with a chronic condition or a major event and you just spent a big percentage of your yearly net pay.

Having actually grown up without money while the vast majority of the medical field (and applicants) grew up incredibly privileged, I know full well the monetary burden of things like health insurance, college, daycare, rent, etc. It's really tone-deaf to try to lecture me on this.

I'm fully aware of the effects of inflation (note: inflation isn't a blanket increase to every single price that one pays for living) and the fact that many urban areas have extremely high costs of living. This doesn't change the fact that a single individual making $100k a year makes more than 2/3rds of households in the entire country.

 

[YCAGA]

Having actually grown up without money while the vast majority of the medical field (and applicants) grew up incredibly privileged, I know full well the monetary burden of things like health insurance, college, daycare, rent, etc. It's really tone-deaf to try to lecture me on this.

I'm fully aware of the effects of inflation (note: inflation isn't a blanket increase to every single price that one pays for living) and the fact that many urban areas have extremely high costs of living. This doesn't change the fact that a single individual making $100k a year makes more than 2/3rds of households in the entire country.

“Insulting”

“Actually grown up without money”

“Tone-deaf”

Not everyone who disagrees with you is an insulting, out-of-touch rich idiot.

It’s tone-deaf to assume that everyone else reading and replying to this thread didn’t grow up without money

 

[chilly_md]

It is middle class in many parts. Certainly not if someone is making 100k in Nebraska, but that’s probably not too common.

In general, wages have not kept up, and many are now working class as opposed to middle class.

 

[doomer_md]

“Insulting”

“Actually grown up without money”

“Tone-deaf”

Not everyone who disagrees with you is an insulting, out-of-touch rich idiot.

It’s tone-deaf to assume that everyone else reading and replying to this thread didn’t grow up without money

It wouldn't be a thread about income/finance without Stratos bringing up how he was poor once upon a time.

 

[BritainKittenMittens]

This is only for new grads. If you look at the thread for non new grads you'll **** your pants.

 

[jamaica jan sun princess]

I won't get into the cost of living argument, but I calculated the opportunity cost of attending medical school this year vs. continuing in financial services to be $1.5 - $2.5 million over the next 13 years depending on which way I direct my career.

 

[voxveritatisetlucis]

At Ivy League schools, it’s not uncommon for 15% of a class to pursue investment banking. First year salaries and bonuses at BB banks (GS, JPM, Citi, BAML, MS, UBS) and elite boutiques (Moelis, Lazard, Evercore, Houlihan Lokey) are in the range of 150-175k. The thing is, banking and finance is very “up or out” in that if you don’t get promoted within 2 or 3 years, you’re let go. This isn’t even factoring in the volatility of these jobs when the economy is in decline.

It’s also important to realize that although these banks recruit at non-target schools, they are usually not recruiting for “front office” positions. Middle and back office definitely can earn above the median national income but it is rare that compensation will hit six figures at junior levels. This is probably why there is differences in perception amongst users. Almost nobody from my high school (below average public school) makes above six figures right now but a good amount of people I met in college are making that.

 

[chicandtoughness]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

Every single software engineer friend I know is making 6 figures immediately after college. They're not all high performers or working at big companies either. Here are some data points from my siblings:
1. B-tier large company, software engineer, $130k, 3 years out of college
2. Facebook, software engineer, $150k with a 70k signing bonus, 1 year out of college
On the high end, I have a friend working in HFT making $600k+ per year. On the low end, I have a friend working for a startup making 100k.
Sooo.... yeah. Lots of folks making 6 figures at a young age.

I was previously in management consulting at an MBB. In 2012 (my graduating year), I was making 85k base and year-end bonuses were around 20k, which put me squarely in 6-figures.

Definitely not doing medicine for the money. That's the dumbest reason, honestly. So many other things that give a faster ROI. The 100k friend I mentioned above was a premed in college and couldn't get into med school, so they did a coding bootcamp and got hired at the end for 100k. They're not a great coder either, just good enough to get by. I used to be a CS major (graduated as a business major) so if I wanted to, I could definitely do a bootcamp and get hired if I wanted to make money. It's no longer about the $$ for me, I just want to do medicine :/

 

[zeppelinpage4]

Almost everyone in developing, engineering, or tech is making easy six figures. Many of them with just a few months coding boot camp under there belt. I have a few friends in that field and know from them. All started working in their early fo mid 20’s and two are making almost 250k/year now. Many of them start at 100-120k/year. They work 35-40 hours a week max, get all weekends and holidays off. No debt, no extra years of sacrifice and training, the demand for them is high and many are getting to work from home.
Pretty sure I went into the wrong profession.

 

[GB4ME]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

Here in Dallas the average entry software engineer from my university starts at around 110k plus stocks and bonus. FAANG companies pay more. Some are starting at 150k*

 

[ahnonemoose]

I personally know 2 people who gave up higher paying tech jobs to make less money in healthcare. They're happy making less and have a sense of fulfillment they could never get in tech.

 

[francois]

I was talking to a new york city uber-black(premium) driver. He makes 170k annually. He is 22 years of age, started working at the age of 18. He started working straight out of high school, stating that higher education was waste of time and money. He bought an apartment last year and rented it out for additinal income.
Learning points- 1.if your focus in life is to make money, medicine is not the ideal specialty. 2. There is a HUGE difference between financial literacy and literacy that we obtain as training in medicine or technical specialties. Heck, I felt the 22 year old uber driver was more financially literate than me.

 

[ShrekDonkeyNetwork]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

I went to a good eng school and my friends in tech all make 300-400k+ 3-4 years out of college. Granted they work at the most desirable competitive companies. Typically working way less than 40h a week and pto that would make anyone red in the face - mainly babysitting code. Most aim to fatfire in 30s.

Medicine is difinitely no longer the lucrative job for smart people

 

[Fire_Lord_Zuko_99]

Family member in coding who worked fo Google,

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

Family member in coding who started working for Google at 24 YO with a starting salary in the 6 figures, now making even more for another tech company whose app you probably use daily…

 

[PhD_to_DO]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

I had several classmates after undergrad who were making six figures a year or two out of undergrad. These were engineers and bioinformaticians who were smart enough to 1) finish dual bachelors/masters programs in undergrad 2) Networked like their lives depended on it and 3) Soaked up every internship that they could in undergrad; some of these people graduated with a year or two of solid experience under their belts when entering the workforce. This allowed them to ask for higher salaries.

 

[deleted1023831]

Yo I just got a software dev job that pays me 110k. And this is in Wisconsin, not exactly the Bay Area!

 

[SnowyMoon]

I personally know 2 people who gave up higher paying tech jobs to make less money in healthcare. They're happy making less and have a sense of fulfillment they could never get in tech.

And this is probably the biggest takeaway from the thread. There is no guarantee in life that if you do the right things that you get the paycheck. Life happens, and can be cut short for any number of random reasons. May as well enjoy it and feel fulfilled while making what some would consider an insane amount of money. This plethora of anecdotes only goes to show that if you want money, to retire early, and don't find medicine fulfilling, this is not the profession for you.

Be happy for your friends that make enough to save for their retirement and have found ways to fulfill their own lives. I only wish all my friends could have such happy endings.

 

[amcasskissin]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

I am going to Med School in the fall. I started making 6 figures as an engineer sometime around the time I turned 25 (I’m 31 now). I worked close to 100 hour weeks for 3 years in a building without access to internet (secure government) and I didn’t pull overtime as a salary employee so I would’ve considered myself underpaid in retrospect. I also wasn’t happy with the work I was doing. To me the value of what I do is way more important. I can easily live off 70k a year. A little extra padding would be nice once I start a family if only to give my children opportunities I never had (namely travel and better schooling). However, I also see the value in what residents are saying. It sucks to watch others make the same pay as you when considering the technical skill, hours, stress and commitment required to be a physician. Being underpaid for the work you are doing is tough. Frameshift however, you are privileged to be in a job that has such an impact on the lives of others. If you could do anything in the world and money didn’t matter, would you still have chosen medicine? Good questions to consider for those concerned about salary.

 

[oolagok7]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

1st post on SDN ever. Saw this and had to respond cos I’m in the other room looking through the glass windows.

I Currently make ~$210k/yr in Business IT. Never thought I’d make this much & I’m in early 30’s. Had two friends who got into Medschool when we all 3 of us applied 2yrs ago.

I Have Masters & Undergrad in Biomedical sci and Biology.

I Always wanted to be a MD so I’d be attempting med school applications this year 2022.

I am Low key contemplating against doing that because theres immense potential for job growth in business IT due to Companies undergoing digital transformation. I have worked in healthcare as a project manager and also worked with pharmacists and MD’s working as Project & product managers and are Making $160-$230k per year easily.

On the other hand Primary Care Physicians are paid lower and lower each time I check and we can all say it’s about fulfillment which I’m all in for but I gasta get paid at the end for all my blood sweat and tears. Specialization is even worse!!
You can’t take care of people when you as a doctor suffers mental and financial stress.

Bottom line is MD is still a dream of mine. Perhaps if I can pay for school I won’t be bitching by the time I’m paid s**T as a resident. Yes!! People are making bank outside medicine and it’s not ($20 is the new $50) that’s trash talk. People get close to $20k/month outside medicine and are still under 30yrs old.

 

[ihcneyugn]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

It depends on where you live & the circle. Almost everyone I know in finance & tech are making about 100k- 130k with the occasional 150k & even above 200k (very very rare though). Some who just graduated make 60k-80k but that will change in 5 years. BUT the one thing they can never do is to be their own boss. & they hate it. everyone I know always complain about how annoying dealing with management & incompetent co-workers is, & there is nothing they can do about it beside switching job. corporate life is not conducive to one's happiness. I accepted that I might not make as much money as fast as them but being in dentistry I have some control with my own practice & get to do something rewarding & work with people. It's not all about money ya know

 

[biotechie93]

honestly, nearly all of my friends who aren't in medicine are making at least 6 figures now. several friends did comp sci, some in marketing, some in pharma. If you have any degree of skilled labor and your smart and motivated, it is totally doable with a decent degree and good work experience.

 

[jamaica jan sun princess]

1st post on SDN ever. Saw this and had to respond cos I’m in the other room looking through the glass windows.

I Currently make ~$210k/yr in Business IT. Never thought I’d make this much & I’m in early 30’s. Had two friends who got into Medschool when we all 3 of us applied 2yrs ago.

I Have Masters & Undergrad in Biomedical sci and Biology.

I Always wanted to be a MD so I’d be attempting med school applications this year 2022.

I am Low key contemplating against doing that because theres immense potential for job growth in business IT due to Companies undergoing digital transformation. I have worked in healthcare as a project manager and also worked with pharmacists and MD’s working as Project & product managers and are Making $160-$230k per year easily.

On the other hand Primary Care Physicians are paid lower and lower each time I check and we can all say it’s about fulfillment which I’m all in for but I gasta get paid at the end for all my blood sweat and tears. Specialization is even worse!!
You can’t take care of people when you as a doctor suffers mental and financial stress.

Bottom line is MD is still a dream of mine. Perhaps if I can pay for school I won’t be bitching by the time I’m paid s**T as a resident. Yes!! People are making bank outside medicine and it’s not ($20 is the new $50) that’s trash talk. People get close to $20k/month outside medicine and are still under 30yrs old.

Primary care salaries have been on the rise for the past few years.

 

[ihcneyugn]

1st post on SDN ever. Saw this and had to respond cos I’m in the other room looking through the glass windows.

I Currently make ~$210k/yr in Business IT. Never thought I’d make this much & I’m in early 30’s. Had two friends who got into Medschool when we all 3 of us applied 2yrs ago.

I Have Masters & Undergrad in Biomedical sci and Biology.

I Always wanted to be a MD so I’d be attempting med school applications this year 2022.

I am Low key contemplating against doing that because theres immense potential for job growth in business IT due to Companies undergoing digital transformation. I have worked in healthcare as a project manager and also worked with pharmacists and MD’s working as Project & product managers and are Making $160-$230k per year easily.

On the other hand Primary Care Physicians are paid lower and lower each time I check and we can all say it’s about fulfillment which I’m all in for but I gasta get paid at the end for all my blood sweat and tears. Specialization is even worse!!
You can’t take care of people when you as a doctor suffers mental and financial stress.

Bottom line is MD is still a dream of mine. Perhaps if I can pay for school I won’t be bitching by the time I’m paid s**T as a resident. Yes!! People are making bank outside medicine and it’s not ($20 is the new $50) that’s trash talk. People get close to $20k/month outside medicine and are still under 30yrs old.

Just my humble 2 cents but I feel like if you are very unhappy with your current job (lots of people I know in high paying jobs actually hate it) then maybe switch to MD. But if you are truly happy then I can't see why make the switch ya know, unless you know for sure MD will give you a fulfilling life & a rewarding career & make you happy after ALL the bs that you have to get through to be an MD. That would be my logic if I were you.

 

[yesmaster]

I am a community physician in early 30’s. I attended an engineering school similar to Caltech or Harvey Mudd before attending medical school. It’s helpful to have trusted friends with high earning power so you can have frank discussions on investing for FI & social good. Anyways, of those I keep in touch with:

1. SF, software engineer at workplace productivity B2B company, $900k/year
2. SF, software engineer at FAANG, machine learning, $400k/year
3. SF, software engineer at FAANG, machine learning, $450k/year
4. Seattle, software engineer at FAANG, $450k/year
5. Seattle, software engineer at FAANG, $500k/year
6. Etc.

This doesn’t include acquaintances who are founders of tech companies that sold for $100m plus, or early employees of publicly traded companies. Their net worth is probably somewhere between $10m and $30m, and yes, they’re also in their early 30’s.

My acquaintances that are VP’s in high finance, partners at law firms, or biopharma folks seem like they do okay but the $/effort and upside do not compare to TECH. ibanking is the worst, horrible grunt work for unimaginative people.

Tech jobs do not have a high barrier to entry and there are very good, free or affordable resources to develop your technical skills. I am reasonably confident that if cancer disappeared tomorrow, or if the healthcare system was nationalized (kidding but not kidding), I could get an entry level job in tech paying $200k+ with 6 months of prep.

 

[SCallergydoc]

Undergrad who goes to top consulting firm makes about $90k with $10-20k bonus. Can advance to Associate partner in 5-6 years with salary plus bonus around $450-500k. No graduate degree; no MBA...just undergrad.

 

[RI-premeder]

Undergrad who goes to top consulting firm makes about $90k with $10-20k bonus. Can advance to Associate partner in 5-6 years with salary plus bonus around $450-500k. No graduate degree; no MBA...just undergrad.

My father is a partner at a consulting firm and used to be one at the Big 4. Management consulting definitely pays well. Starting salaries can be $80-90K plus bonus. You work long hours (50-60+) and have travel (once Covid lifts). Also, no one makes partner at any of the big firms in 5-6 years. More likely 7-10 years. Partners can make $500K+, with senior partners making 7 digits. For what it is worth...

 

[throwaway2222]

Bruh, who are these people everyone knows that are making 6 figures at a young age? I don't know anyone that is relatively young (below 40) and making bank. I see med students/residents complain about their peers making money easily and it always confuses me. You guys have some very successful friends because most of the people I know outside of medicine are making 50K-80K in their careers, which is the range for residents.

Y’all are talking about opportunity cost and other high paying jobs as if all “smart people” or STEM careers are interchangeable, and a person who can do medicine can just as easily do finance, engineering or IT or the like.

Well, I may be a sample of just one, but I was intelligent and driven enough to get into an Ivy League school, but in my time taking advanced classes in high school and intro ones in college, I fairly quickly realized that my mind just does not work the way that is needed for IT or finance. If I had gone into one of those fields, I would have been a mediocre at them, had to work twice as hard as everyone else, and would likely not have been a top candidate for the jobs where I would have been making bank. I never tried engineering, so I can’t speak to that. Law was an option, but the constant conflict and The Who’s right, who’s wrong and who’s at fault would not have suited my temperament.

So I have minimal regrets about going into medicine. It would have been nice to make six figures out of college but that actually would have been the more square-peg-in-a-round-hole path for me.

 

[throwaway2222]

I am a community physician in early 30’s. I attended an engineering school similar to Caltech or Harvey Mudd before attending medical school. It’s helpful to have trusted friends with high earning power so you can have frank discussions on investing for FI & social good. Anyways, of those I keep in touch with:

1. SF, software engineer at workplace productivity B2B company, $900k/year
2. SF, software engineer at FAANG, machine learning, $400k/year
3. SF, software engineer at FAANG, machine learning, $450k/year
4. Seattle, software engineer at FAANG, $450k/year
5. Seattle, software engineer at FAANG, $500k/year
6. Etc.

This doesn’t include acquaintances who are founders of tech companies that sold for $100m plus, or early employees of publicly traded companies. Their net worth is probably somewhere between $10m and $30m, and yes, they’re also in their early 30’s.

Tech jobs do not have a high barrier to entry and there are very good, free or affordable resources to develop your technical skills. I am reasonably confident that if cancer disappeared tomorrow, or if the healthcare system was nationalized (kidding but not kidding), I could get an entry level job in tech paying $200k+ with 6 months of prep.

Don’t be so sure. I am just a sample of one, but I got lost within the first few chapters of every coding book I read, and had to drop intro to programming in college despite intensive tutoring to avoid a failing grade. Idk, maybe I have some sort of very specific learning disability, but I attended top-tier schools for for both undergrad and medical school and I’m a practicing attending now, so I can’t be that unintelligent.

 

[voxveritatisetlucis]

In my opinion, SWE/tech workers are inadvertently reducing their future labor power. The same AI/ML advancements that will fuel a boom for the next 5-10 years will reduce the relative productivity of the marginal tech worker compared to a machine. This will reduce the volume of workers needed to write and maintain software.

After the bubble burst in 2000, Silicon Valley alone had lost 16.5% of tech jobs between 2001 and 2008. This figure is quite stunning when you consider that the companies which survived grew rapidly during this period despite the downturn.

 

[Kiko5838]

2 years out of undergrad with a B.S. in Biology and I was making a 6 figure salary already working in sales at SaaS technology companies in Silicon Valley. If I stayed in sales instead of leaving to do research to get into medical school, I would of easily been making 300K per year 5 years in. Good SaaS tech sales reps (half your salary is commission-based) and software engineers make significantly more than your average physician and only ever have a bachelor's degree. If your reason for going to medical school is just to make bank as a physician then you've chosen the wrong career path. There are other professional careers that pay significantly better and require much less student loan debt and fewer years of education. I personally left a very lucrative career and a job I really excelled at to pursue medical school because I wanted to help people; financially, medical school is not the smart move for me as I will incur a lot more debt and make significantly less income as a physician (unless I specialize in neurosurgery or plastics). Hopefully most people going to medical school are not in it for the money.