Peds Salary, was shocked

[MD2b20004]

---

Members do not see this ad.

My best friend was given an offer before she finsihed her peds residency, I did not know they got paid that much, neither did she know how much she was worth until she was given a pre-graduation offer of 275,000 working 2.5 days a week with all overhead and malpractice fees paid. And she will be getting a raise to 300,000 in 6 months and partner in 2 years which means much more $$$$. The position offer was in the midwest. Wow, did not know peds get paid that much, i wonder how much orthos and other specialties get paid from first hand experience or present doctors if you can tell us that will be eye opening.

Mike

 

[americanpierg]

My best friend was given an offer before she finsihed her peds residency, I did not know they got paid that much, neither did she know how much she was worth until she was given a pre-graduation offer of 275,000 working 2.5 days a week with all overhead and malpractice fees paid. And she will be getting a raise to 300,000 in 6 months and partner in 2 years which means much more $$$$. The position offer was in the midwest. Wow, did not know peds get paid that much, i wonder how much orthos and other specialties get paid from first hand experience or present doctors if you can tell us that will be eye opening.

Mike

liar

 

[DcS]

My best friend was given an offer before she finsihed her peds residency, I did not know they got paid that much, neither did she know how much she was worth until she was given a pre-graduation offer of 275,000 working 2.5 days a week with all overhead and malpractice fees paid. And she will be getting a raise to 300,000 in 6 months and partner in 2 years which means much more $$$$. The position offer was in the midwest. Wow, did not know peds get paid that much, i wonder how much orthos and other specialties get paid from first hand experience or present doctors if you can tell us that will be eye opening.

Mike

Your numbers are very doubtful. Telling us it's a 2.5 day a week job means nothing, she could still work 30+ hours in that time.

I went on many pedo interviews and asked a lot of 2nd year pedo residents what they expected to start out when they join a practice. The general consensus is 200k for the low end. To say 275k in 2.5 days is pretty much not happening. You either are exaggerating or are mistaken.

I pity those who go into pedo for the money. I don't understand how people can't see the fact that there is a lot of money in ALL dentistry, including general practice. If someone chooses to treat kids all day for some extra coin they will be hating their life.

 

[Dr. Pedo]

Hey MD2B,

I'm a pediatric resident: I know of many areas that are giving similar numbers,---however all on a 4-5 day work week. I'm in the midwest and can honestly say several areas offering those types of numbers are places I'd never want to live---NO MATTER THE AMOUNT! 😱 😀 North Dakota comes to mind. 😀

Anyway, tell your friend to investigate the contract and more importantly the city/state. I have 3 friends currently signing contracts (one in the midwest and two on the east coast/Georgia area) for $250,000+-----but they are going to be worked like DOGS and majority of the work will be General Anesthesia at the hospital.

Dr. B

 

[hockeydentist]

Hey MD2B,

I'm pediatric resident: I know of many areas that are giving similar numbers,---however all on a 4-5 day work week. I'm in the midwest and can honestly say several areas offering those types of numbers are places I'd never want to live---NO MATTER THE AMOUNT! 😱 😀 North Dakota comes to mind. 😀

Anyway, tell your friend to investigate the contract and more importantly the city/state. I have 3 friends currently signing contracts (one in the midwest and two on the east coast/Georgia area) for $250,000+-----but they are going to be worked like DOGS and majority of the work will be General Anesthesia at the hospital.

Dr. B

Whats wrong with the DAKOTAS

 

[ItsGavinC]

I agree with Dr.2b. I've seen those numbers offered (here in the Phoenix area, where I actually *want* to live), but the workdays sure aren't 2.5 days, more like 4.5 days.

But still, $200,000+ isn't unheard of for new peds, depending on location.

 

[ItsGavinC]

I pity those who go into pedo for the money. I don't understand how people can't see the fact that there is a lot of money in ALL dentistry, including general practice. If someone chooses to treat kids all day for some extra coin they will be hating their life.

True that. Of all the specialties to enter for the money, peds isn't the one. None of them are, but especially not peds.

 

[MD2b20004]

True that. Of all the specialties to enter for the money, peds isn't the one. None of them are, but especially not peds.

I have no reason to lie, to be honest she was shocked herself of how much she was worth. The offer was given by her peds dentist when she was a kid, and YES it was 2.5 days a week and 275K with all overhead costs covered. Yes the location is in a small northern wisconsin area, but thats where she was born and her parents reside so I dont think it will be aweful for her. A little about her stats. She was pushed into dentistry by her parents, hated it and still hates it, did peds only because she loves kids and saw it as maybe a way to get into dentistry (her love of kids versus or not so much love of dentistry) she has no reason to lie. She is my best friend for over 8 years. She is currently completing her first year of a 30 month peds residency at U of Michigan. But the numbers where real and to be honest she was shocked herself, she did not know how much she was worth nor did she ever inquire until given the offer even before graduating her residency.
Mike

 

[DcS]

I have no reason to lie, to be honest she was shocked herself of how much she was worth. The offer was given by her peds dentist when she was a kid, and YES it was 2.5 days a week and 275K with all overhead costs covered. Yes the location is in a small northern wisconsin area, but thats where she was born and her parents reside so I dont think it will be aweful for her. A little about her stats. She was pushed into dentistry by her parents, hated it and still hates it, did peds only because she loves kids and saw it as maybe a way to get into dentistry (her love of kids versus or not so much love of dentistry) she has no reason to lie. She is my best friend for over 8 years. She is currently completing her first year of a 30 month peds residency at U of Michigan. But the numbers where real and to be honest she was shocked herself, she did not know how much she was worth nor did she ever inquire until given the offer even before graduating her residency.
Mike

Well hey then great for her!

 

[ItsGavinC]

I have no reason to lie, to be honest she was shocked herself of how much she was worth. The offer was given by her peds dentist when she was a kid, and YES it was 2.5 days a week and 275K with all overhead costs covered. Yes the location is in a small northern wisconsin area, but thats where she was born and her parents reside so I dont think it will be aweful for her. A little about her stats. She was pushed into dentistry by her parents, hated it and still hates it, did peds only because she loves kids and saw it as maybe a way to get into dentistry (her love of kids versus or not so much love of dentistry) she has no reason to lie. She is my best friend for over 8 years. She is currently completing her first year of a 30 month peds residency at U of Michigan. But the numbers where real and to be honest she was shocked herself, she did not know how much she was worth nor did she ever inquire until given the offer even before graduating her residency.
Mike

Does this story tie into your previous thread about disliking dentistry but going into it for the money? 🙄

 

[DrJeff]

A little about her stats. She was pushed into dentistry by her parents, hated it and still hates it, did peds only because she loves kids and saw it as maybe a way to get into dentistry (her love of kids versus or not so much love of dentistry) she has no reason to lie.

Tell her to get out of the profession now. Don't get me wrong, its a great profession if you enjoy what your doing. If you hate it, and were pressured into it, watch out. It's stressfull to say the least at times, especially peds in a rural area where you tend to see more disaster cases (read as baby bottle). If you're not liking what your doing and then having to see many, many kids basically suffering because of a combination of parental neglect and parental stupidity, and then have those parents second guessing every word you say about how their kids decay is a result of their poor parental control over their kids diet, its going to be really, really tough on her.

If your looking at a specialty area of dentistry because of $$ issues, do yourself a favor and forget the $$ and find an area of dentistry that you like. Because you'll enjoy your life much better making $150,000 a year doing something you like every day than making $250,000 on an isolated area of dentistry(a specialty) that you may not like as much. Plus remember even at a "paultry" $150,000 a year your still in the top 1% of all american wages earners per year!

 

[QCkid]

Ya, thats great but if you are going to one of the many expensive dental schools then you are coming out paying 2k a month for loans(which aren't tax deductible). So Uncle Sam takes his 38% and the state takes their cut and you're left with 50 grand. Yep, its all worth it 🙂. At least thats the line the "recruiters" kept feeding us.

 

[aphistis]

Tell her to get out of the profession now. Don't get me wrong, its a great profession if you enjoy what your doing. If you hate it, and were pressured into it, watch out. It's stressfull to say the least at times, especially peds in a rural area where you tend to see more disaster cases (read as baby bottle). If you're not liking what your doing and then having to see many, many kids basically suffering because of a combination of parental neglect and parental stupidity, and then have those parents second guessing every word you say about how their kids decay is a result of their poor parental control over their kids diet, its going to be really, really tough on her.

If your looking at a specialty area of dentistry because of $$ issues, do yourself a favor and forget the $$ and find an area of dentistry that you like. Because you'll enjoy your life much better making $150,000 a year doing something you like every day than making $250,000 on an isolated area of dentistry(a specialty) that you may not like as much. Plus remember even at a "paultry" $150,000 a year your still in the top 1% of all american wages earners per year!

Good advice, DrJeff, but I wouldn't waste any more time trying to convince this kid that money isn't everything. He's already decided, so if he wants to waste 4-7 years of dental school +/- residency to find out the hard way, I say let him. 👎

 

[ryad]

Ya, thats great but if you are going to one of the many expensive dental schools then you are coming out paying 2k a month for loans(which aren't tax deductible). So Uncle Sam takes his 38% and the state takes their cut and you're left with 50 grand. Yep, its all worth it 🙂. At least thats the line the "recruiters" kept feeding us.

Hi everyone.
I'll be appearing for march ADC prelims part 1 in melbourne and would like to know whether anyone's got any study materilas or any idea what all i'm suppose to read apart from bouchers??????
Please Advise

 

[ItsGavinC]

Ya, thats great but if you are going to one of the many expensive dental schools then you are coming out paying 2k a month for loans(which aren't tax deductible). So Uncle Sam takes his 38% and the state takes their cut and you're left with 50 grand. Yep, its all worth it 🙂. At least thats the line the "recruiters" kept feeding us.

50 grand is quite a bit on the low side when all is said and done. 🙂

 

[QCkid]

50 grand is quite a bit on the low side when all is said and done. 🙂

I may have exageratted a little bit but not much. I forget what the top tax bracket is but unless you are very creative you will be in it. At Az. you probably pay what? 50 grand a year after tuition + fees + instruments + materials + other stuff. On top of that you need to live. Lets say 25k a year. That puts you in 300k of debt after 4 years. Neither the interest paid nor the principal is tax deductible. This means that if you pay 25k a year to manage your student loans and are only making 130k a year, then your paying taxes on that 130k - standard deductions but your real income is 25k less than 130k. I forget what standard deductions would be but lets say that its 12k and the top tax bracket is 36%, then you are paying a wopping $42,500 in federal taxes. State taxes in Az. are 20% of federal so you are paying another $8,500 in state tax. In total your 130k has been wittled down to $59,000. Its definitely livable but nobody's laughing all the way to the bank with that.

 

[ARguy]

I may have exageratted a little bit but not much. I forget what the top tax bracket is but unless you are very creative you will be in it. At Az. you probably pay what? 50 grand a year after tuition + fees + instruments + materials + other stuff. On top of that you need to live. Lets say 25k a year. That puts you in 300k of debt after 4 years. Neither the interest paid nor the principal is tax deductible. This means that if you pay 25k a year to manage your student loans and are only making 130k a year, then your paying taxes on that 130k - standard deductions but your real income is 25k less than 130k. I forget what standard deductions would be but lets say that its 12k and the top tax bracket is 36%, then you are paying a wopping $42,500 in federal taxes. State taxes in Az. are 20% of federal so you are paying another $8,500 in state tax. In total your 130k has been wittled down to $59,000. Its definitely livable but nobody's laughing all the way to the bank with that.

Since when is student loan interest not tax deductible?

 

[aphistis]

I may have exageratted a little bit but not much. I forget what the top tax bracket is but unless you are very creative you will be in it. At Az. you probably pay what? 50 grand a year after tuition + fees + instruments + materials + other stuff. On top of that you need to live. Lets say 25k a year. That puts you in 300k of debt after 4 years. Neither the interest paid nor the principal is tax deductible. This means that if you pay 25k a year to manage your student loans and are only making 130k a year, then your paying taxes on that 130k - standard deductions but your real income is 25k less than 130k. I forget what standard deductions would be but lets say that its 12k and the top tax bracket is 36%, then you are paying a wopping $42,500 in federal taxes. State taxes in Az. are 20% of federal so you are paying another $8,500 in state tax. In total your 130k has been wittled down to $59,000. Its definitely livable but nobody's laughing all the way to the bank with that.

This post is seriously screwed up. $105,000 isn't even close to breaching the top tax bracket, and progressive increases in income tax only affect portions of your income: e.g., if the top tax bracket is $200,000 & 40%, only income in excess of $200,000 is taxed at the 40% level, while everything less is taxed at progressively lower rates.

 

[DcS]

Since when is student loan interest not tax deductible?

It is to my knowledge.

 

[QCkid]

This post is seriously screwed up. $105,000 isn't even close to breaching the top tax bracket, and progressive increases in income tax only affect portions of your income: e.g., if the top tax bracket is $200,000 & 40%, only income in excess of $200,000 is taxed at the 40% level, while everything less is taxed at progressively lower rates.

O.k. so its been ahwhile since I had to do this. So I just looked it up and taxes would be arround 22 - 23 thousand + you would still have state. State would be arround $4,500 in Az.

As far as interest being tax deductible, by the time your salary is about 130k the amount of interest that you could deduct is practically zero. Its capped at $2500 per year in deductions and phases out as your income grows. I think it completely phases out at $135,000 if you married and filing a joint return. Its half of that if you're single.

 

[makushin]

..

 

[3rdMolarRoller]

the interest won't be deductible. New tax laws have made it more difficult to find deductions. I made 70k last year, and as a single guy, I won't be able to deduct any student loan interest, and I also wasn't able to deduct $4k in medical costs.

Making $70k a year you should be able to afford a home. Buy a house and hopefully there is enough equity for you to pull a second loan. Pay off your student loans with that, and bingo your interest is now deductable.

Of course this is assuming that your student loans are greater than roughly 6.5%. If you locked in at 2.8% this does not make much sense. I haven't played with the numbers, but over the long run you might have a cost savings if even your student loans are locked at 4.6%

Do this while you can because there are talks of not allowing the interest from your mortgage to be deductable.

 

[The_Sensei]

This post is seriously screwed up. $105,000 isn't even close to breaching the top tax bracket, and progressive increases in income tax only affect portions of your income: e.g., if the top tax bracket is $200,000 & 40%, only income in excess of $200,000 is taxed at the 40% level, while everything less is taxed at progressively lower rates.

I'm screwed..........

 

[mdub]

I forget what standard deductions would be but lets say that its 12k and the top tax bracket is 36%, then you are paying a wopping $42,500 in federal taxes. State taxes in Az. are 20% of federal so you are paying another $8,500 in state tax. In total your 130k has been wittled down to $59,000. Its definitely livable but nobody's laughing all the way to the bank with that.

There's no need to guess on that. Just go here: http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp

 

[makushin]

Making $70k a year you should be able to afford a home. Buy a house and hopefully there is enough equity for you to pull a second loan. Pay off your student loans with that, and bingo your interest is now deductable.

.