Podiatrist Vs Dentistry (Investment)

[AudiLova619]

Hello everyone,

I am currently in college and I am deciding between Dentistry and Podiatry. I have shadowed both and like both careers. My concern is which career will give a better investment? Assuming I go to private dental school and podiatry school in the East coast and don't have to dorm? I don't think I will be able to do private practice so corporate seems like the only option for dentistry instead of taking out more loans. And for podiatry, its 3 years of residency. This is an important question for me because I will be taking out loans all by myself and I have people who are depending on me. Any feedback will be greatly appreciated it.
Thanks!

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[de Ribas]

Hello everyone,

I am currently in college and I am deciding between Dentistry and Podiatry. I have shadowed both and like both careers. My concern is which career will give a better investment? Assuming I go to private dental school and podiatry school in the East coast and don't have to dorm? I don't think I will be able to do private practice so corporate seems like the only option for dentistry instead of taking out more loans. And for podiatry, its 3 years of residency. This is an important question for me because I will be taking out loans all by myself and I have people who are depending on me. Any feedback will be greatly appreciated it.
Thanks!

I think this belongs in pre-podiatry forum. Also, it has been discussed with some numbers on Dentistry forums. Use search function.

 

[AudiLova619]

I think this belongs in pre-podiatry forum. Also, it has been discussed with some numbers on Dentistry forums. Use search function.

I was hoping since residents and practicing pods have the most insight to the economic aspect of the field, they could chime in.

 

[NatCh]

I’m afraid I don’t know anything about the economics of dentistry other than they seem to have all the money.

I’ve never met a dentist who was overtly inspired by his work but they seemed happy enough. Most of my conversations with dentists revolved around how many expensive hobbies they had. Not sure what to make of it.

Edit: I feel as if I’ve typed this same thing before.

 

[GypsyHummus]

There are also students coming out of dental school with 500k in student loans.

I’m afraid I don’t know anything about the economics of dentistry other than they seem to have all the money.

I’ve never met a dentist who was overtly inspired by his work but they seemed happy enough. Most of my conversations with dentists revolved around how many expensive hobbies they had. Not sure what to make of it.

Edit: I feel as if I’ve typed this same thing before.

 

[illinigrad11]

Hello everyone,

I am currently in college and I am deciding between Dentistry and Podiatry. I have shadowed both and like both careers. My concern is which career will give a better investment? Assuming I go to private dental school and podiatry school in the East coast and don't have to dorm? I don't think I will be able to do private practice so corporate seems like the only option for dentistry instead of taking out more loans. And for podiatry, its 3 years of residency. This is an important question for me because I will be taking out loans all by myself and I have people who are depending on me. Any feedback will be greatly appreciated it.
Thanks!

From what I've heard, private dental school will cost close to twice what podiatry school will (see 500K in loans at graduation vs. 250K). No residency required for general dentistry, so dentistry would add 3 more years of "attending level" income. Dentists in private practice do very well, but the path of least resistance in the field seems to be corporate (Aspen dental and the like) where employee salaries are similar to well paid mid-levels. My opinion would be that your ceiling is higher in dentistry, but you're more likely to put yourself behind the 8 ball financially, than you are as a Podiatrist.

 

[AudiLova619]

From what I've heard, private dental school will cost close to twice what podiatry school will (see 500K in loans at graduation vs. 250K). No residency required for general dentistry, so dentistry would add 3 more years of "attending level" income. Dentists in private practice do very well, but the path of least resistance in the field seems to be corporate (Aspen dental and the like) where employee salaries are similar to well paid mid-levels. My opinion would be that your ceiling is higher in dentistry, but you're more likely to put yourself behind the 8 ball financially, than you are as a Podiatrist.

Will the 3 year residency for podiatry make a major difference compared to dentistry in terms of money? I feel like podiatry will be a better investment because of the cheaper schooling, and since I will be in the east coast(probably NY) corporate dentistry is where I will end up if I become a dentist.

 

[GypsyHummus]

You also have to keep in mind, we dont know your stats, but dental school is much more competitive than pod school. It might take you a couple of tries to get into dental school whereas if you have at least a 3.0 and 490 MCAT (Not hard at all), you can get into a pod school if you're not picky. Thats potentially 2-3 more years of attending salary as a podiatrist vs lost years trying to get into dental school.

Will the 3 year residency for podiatry make a major difference compared to dentistry in terms of money? I feel like podiatry will be a better investment because of the cheaper schooling, and since I will be in the east coast(probably NY) corporate dentistry is where I will end up if I become a dentist.

 

[pacpod]

This thread was moved to pre-pod forums as it is more appropriate for this audience.

 

[AudiLova619]

You also have to keep in mind, we dont know your stats, but dental school is much more competitive than pod school. It might take you a couple of tries to get into dental school whereas if you have at least a 3.0 and 490 MCAT (Not hard at all), you can get into a pod school if you're not picky. Thats potentially 2-3 more years of attending salary as a podiatrist vs lost years trying to get into dental school.

I agree with that. With high dental school debt and years of lost income in order to get in, its doesn't seem like a good investment compared to podiatry.
I think I could get into dental if I take 1.5 year after college to improve the application.

 

[de Ribas]

I agree with that. With high dental school debt and years of lost income in order to get in, its doesn't seem like a good investment compared to podiatry.
I think I could get into dental if I take 1.5 year after college to improve the application.

besides roughly 250K difference in debt, that difference will be even larger due to interest rate. As monthly interest paid, 6% interest rate for example, will be a lot higher for 500K than 250k.

Use online calculation tools to estimate the payout details.

 

[AudiLova619]

is 6% the norm for student loans? for podiatry and dentistry?

 

[GypsyHummus]

is 6% the norm for student loans? for podiatry and dentistry?

6-7% depending on if the loan is subsidized vs unsub

 

[de Ribas]

is 6% the norm for student loans? for podiatry and dentistry?

I just rounded for an example. But, if I calculate right, the difference in debt considering the interest will be about 300-350K.

 

[AudiLova619]

I just rounded for an example. But, if I calculate right, the difference in debt considering the interest will be about 300-350K.

Thanks for calculating. so about 100k will be just the interest for a student doing dentistry on top of the 500k tuition? if they go to a private school.

 

[de Ribas]

Thanks for calculating. so about 100k will be just the interest for a student doing dentistry on top of the 500k tuition? if they go to a private school.

I calculated it to be 170K in addition to 500K for dentistry school.

Whereas, podiatry school 250K or 330K with interest paid.

 

[AudiLova619]

I calculated it to be 170K in addition to 500K for dentistry school.

Whereas, podiatry school 250K or 330K with interest paid.

670k is scary to look at. Do you know if this is manageable (with current salaries) or how long one can anticipate to pay this off? Making around 80k after taxes and tackling a 670k debt seems very hard to do.

 

[de Ribas]

670k is scary to look at. Do you know if this is manageable (with current salaries) or how long one can anticipate to pay this off? Making around 80k after taxes and tackling a 670k debt seems very hard to do.

Paying off 500K debt can take 10 years if monthy payments are around $5,500. I think most start paying off with lower monthly payments, which may take longer to repay.

Thousands of students start dental schools and thousands graduate every year. I would think it's manageable.

 

[de Ribas]

670k is scary to look at. Do you know if this is manageable (with current salaries) or how long one can anticipate to pay this off? Making around 80k after taxes and tackling a 670k debt seems very hard to do.

Is there a public dental school in your state?

Public schools are a lot cheaper. For example, one in my state has tuition of about 55K only. While one other school I know, tuition only is 100K+.

 

[AudiLova619]

Paying off 500K debt can take 10 years if monthy payments are around $5,500. I think most start paying off with lower monthly payments, which may take longer to repay.

Thousands of students start dental schools and thousands graduate every year. I would think it's manageable.

5,500 a month is 66,000k for the year. Assuming a dentist makes 85k after taxes you are left with around 20k.
I am assuming podiatry payments is around half of dental, so if a pod makes 85k after taxes you are left with around 52k.

 

[AudiLova619]

Is there a public dental school in your state?

Public schools are a lot cheaper. For example, one in my state has tuition of about 55K only. While one other school I know, tuition only is 100K+.

there is only one state school, which is highly competitive, only accepts around 45 applicants.

 

[de Ribas]

5,500 a month is 66,000k for the year. Assuming a dentist makes 85k after taxes you are left with around 20k.
I am assuming podiatry payments is around half of dental, so if a pod makes 85k after taxes you are left with around 52k.

First, how did you come up with 85K after taxes.
I think you can start paying less than that. There are various repayment plans. But paying less results in higher interest paid and lo her time to pay it off.

 

[de Ribas]

there is only one state school, which is highly competitive, only accepts around 45 applicants.

What are your stats?

 

[theconzumer]

I'd think earning potential is higher for a dentist. Someone who can run a successful dentistry will likely make more than someone who runs a successful podiatry clinic. If you work for a successful podiatry clinic as an employee or hospital, then I would think a podiatrist can make more. It's also easier to start your own podiatry clinic than a dental clinic, they have a huge start up cost. With the way dentistry is going, more towards large entities as Aspen dental I would expect the wages to be pushed down, sort of like when optometry clinics started opening up in supermarkets.

 

[AudiLova619]

First, how did you come up with 85K after taxes.
I think you can start paying less than that. There are various repayment plans. But paying less results in higher interest paid and lo her time to pay it off.

I saw in another forum that a recent dentist grad could expect to make around 120k which is about 85k after taxes?

 

[de Ribas]

I saw in another forum that a recent dentist grad could expect to make around 120k which is about 85k after taxes?

If dentist grads earn 120k, then I don't see a reason going that route. Pods can expect the same thing if not better.

 

[AudiLova619]

What are your stats?

I have a 3.3 for both, 200 hours of volunteer service, I probably will have to do a post bac or masters to be more competitive. I have shadowed both, I haven't taken the dat or mcat yet, but I am still deciding. Money is an important factor for me because I won't have any help from anyone, all by myself. I like both professions.

 

[RedoxRxn]

We can't answer this question because we don't know a set in stone podiatry salary.

 

[AudiLova619]

I'd think earning potential is higher for a dentist. Someone who can run a successful dentistry will likely make more than someone who runs a successful podiatry clinic. If you work for a successful podiatry clinic as an employee or hospital, then I would think a podiatrist can make more. It's also easier to start your own podiatry clinic than a dental clinic, they have a huge start up cost. With the way dentistry is going, more towards large entities as Aspen dental I would expect the wages to be pushed down, sort of like when optometry clinics started opening up in supermarkets.

I agree, thats the thing that makes me worry, along with the big debt. The probability of opening a private practice in dentistry in my situation is very low.

 

[de Ribas]

I saw in another forum that a recent dentist grad could expect to make around 120k which is about 85k after taxes?

This is like the extreme. There are many other factors. Marriage, kids, other exemptions and deductions, retirement contributions and so on. Taxable income may even be only like 85K.

 

[de Ribas]

I have a 3.3 for both, 200 hours of volunteer service, I probably will have to do a post bac or masters to be more competitive. I have shadowed both, I haven't taken the dat or mcat yet, but I am still deciding. Money is an important factor for me because I won't have any help from anyone, all by myself. I like both professions.

For pod school you won' need post bac. 3.3 is sufficient. No more money wasting. Have at least 495 MCAT and you are set. For dentistry, it might be different.

 

[Cranjis McBasketball]

I agree, thats the thing that makes me worry, along with the big debt. The probability of opening a private practice in dentistry in my situation is very low.

Idk why anyone would be a corporate dentist unless you were passionate about oral health or had a sweet deal with the corporation. Most corporate dental chains have turned into dental mills. Your bosses aren't dentists. They are numbers guys who push production. You go from being a doctor to a salesman and the turnover rate is high. I would never want to work at a corporate dental clinic unless it was only a year or two when first starting. I switched from dental to podiatry because, for me, the investment into dental was not going to work out. I was going to come out with 500k+ in loans and didnt feel comfortable with that. I partly realized this because I got a job as a dental assistant and realized I had no passion for dental medicine and that I was pursuing dentistry strictly for the "income and lifestyle."

I think choosing your career based on investment returns is a terrible idea. Both careers, if you work hard and are good with people, can make you a lot of money. Dentistry is probably easier to make a lot, but there are plenty of podiatrists that are very well off. They have completely different careers and focuses. Shadow both and pick whichever one you enjoy more. If you enjoy dental more, but dont want to go into half a million of debt then go podiatry. Thats what it should come down to.

 

[AudiLova619]

For pod school you won' need post bac. 3.3 is sufficient. No more money wasting. Have at least 495 MCAT and you are set. For dentistry, it might be different.[/QUOT

Idk why anyone would be a corporate dentist unless you were passionate about oral health or had a sweet deal with the corporation. Most corporate dental chains have turned into dental mills. Your bosses aren't dentists. They are numbers guys who push production. You go from being a doctor to a salesman and the turnover rate is high. I would never want to work at a corporate dental clinic unless it was only a year or two when first starting. I switched from dental to podiatry because, for me, the investment into dental was not going to work out. I was going to come out with 500k+ in loans and didnt feel comfortable with that. I partly realized this because I got a job as a dental assistant and realized I had no passion for dental medicine and that I was pursuing dentistry strictly for the "income and lifestyle."

I think choosing your career based on investment returns is a terrible idea. Both careers, if you work hard and are good with people, can make you a lot of money. Dentistry is probably easier to make a lot, but there are plenty of podiatrists that are very well off. They have completely different careers and focuses. Shadow both and pick whichever one you enjoy more. If you enjoy dental more, but dont want to go into half a million of debt then go podiatry. Thats what it should come down to.

I agree. There are some other aspects of dentistry that I don't love. The possibility of lower back or neck problems, the constant small noises of the instruments, working in a very small place(mouth) and fighting against the tongue. I would also like to talk to the patient while treating them. But the biggest concern is the half a million dollar debt which is really scary.

 

[de Ribas]

the constant small noises

true, but podiatry offices produce some "small noises" as well when they trim nails and clean fungus.

working in a very small place

Makes me think of some MD/DO specialties as well.

But the biggest concern is the half a million dollar debt which is really scary.

What's more scary for me is actually "fighting against the tongue".

 

[AudiLova619]

true, but podiatry offices produce some "small noises" as well when they trim nails and clean fungus.


Makes me think of some MD/DO specialties as well.



What's more scary for me is actually "fighting against the tongue".

Also, are pods required to do the residency, or is it optional. If its mandatory, does that mean every pod is a surgeon (or capable of one).

 

[de Ribas]

Also, are pods required to do the residency, or is it optional. If its mandatory, does that mean every pod is a surgeon (or capable of one).

Generally, yes, it is required but it may vary from state to state.

Upon completion of a surgery residency, yes. Not all podiatrists choose to perform surgery.

 

[Weirdy]

Also, are pods required to do the residency, or is it optional. If its mandatory, does that mean every pod is a surgeon (or capable of one).

Your surgical skills are as good as the training you receive during residency. In general.

Not all residencies are equal.

You also need to realize that the problems plaguing most health professions such as saturation, lowering reimbursements, private practice buyouts from hospitals, are also within podiatry.

 

[AudiLova619]

Your surgical skills are as good as the training you receive during residency. In general.

Not all residencies are equal.

You also need to realize that the problems plaguing most health professions such as saturation, lowering reimbursements, private practice buyouts from hospitals, are also within podiatry.

Does podiatry have more problems than dentistry in terms of saturation, lowering reimbursements? Aside from the debt. I think dentistry and pharmacy tend to be the most saturated. especially in big cities. I am not sure about the reimbursements in either profession.

 

[de Ribas]

Does podiatry have more problems than dentistry in terms of saturation, lowering reimbursements? Aside from the debt. I think dentistry and pharmacy tend to be the most saturated. especially in big cities. I am not sure about the reimbursements in either profession.

I don't think there are hard facts for these questions.

 

[AudiLova619]

I don't think there are hard facts for these questions.

I think each profession definitely has its drawbacks, but it is important to realize the main deciding factors before making a decision.Overall, I think podiatry and dentistry have similar steady income (the avg) but the level of debt is quite different in each.

 

[GypsyHummus]

I would think if you have the business acumen, go to dental school. If you don’t want that kind of risk, I think podiatry is a better option, as there are more options avalible for people who don’t want to own a practice, such as hospitals and clinics.

If you don’t go into business for yourself as a Dentist, the ceiling is much lower salarywise. Dentist will make 120k-140k gross as an associate, where pods will make 130k-220k as an associate or working for a hospital.

If you do go into business for yourself, there is no ceiling for your dental practice. I’ve heard of dentists in my area bringing in 7 figures, and that’s not in SoCal or NYC. Podiatry ceiling is much lower for private practice.


Also, while dentists have to work in a small confined space, feet are more open. Would you rather have someone try and kick you or bite you?

 

[GypsyHummus]

I switched from dental to podiatry because

Yes, come to the dark side of the force Smurfey. It is your destiny.

 

[GypsyHummus]

Agreed. I think that unless you are going MD and gunning for top spots, Medicine isn’t a good way to make money. I mean 7 years for a DPM to make 130-150k with 300k in debt doesn’t seem like a swell deal.

Your surgical skills are as good as the training you receive during residency. In general.

Not all residencies are equal.

You also need to realize that the problems plaguing most health professions such as saturation, lowering reimbursements, private practice buyouts from hospitals, are also within podiatry.

 

[AudiLova619]

Agreed. I think that unless you are going MD and gunning for top spots, Medicine isn’t a good way to make money. I mean 7 years for a DPM to make 130-150k with 300k in debt doesn’t seem like a swell deal.

I'm not just in it for the money, but money does have a role in the decision. Even if one wants to go into business for himself as a Dentist, buying or starting a private practice from what I have heard cost around 500k. So 500k for dental school, +100k interest,+500k for private practice=really scary. Plus the competition in saturated areas. It just seems to big of a risk. I feel like even though the podiatry route may take a bit longer, it will be much easier to pay off the loan and be free.

 

[GypsyHummus]

Shadow both, see which one you like better. Both pods and dents were more than willing to have me shadow. It was trying to get a DO to shadow that was difficult.

I'm not just in it for the money, but money does have a role in the decision. Even if one wants to go into business for himself as a Dentist, buying or starting a private practice from what I have heard cost around 500k. So 500k for dental school, +100k interest,+500k for private practice=really scary. Plus the competition in saturated areas. It just seems to big of a risk. I feel like even though the podiatry route may take a bit longer, it will be much easier to pay off the loan and be free.

 

[AudiLova619]

Shadow both, see which one you like better. Both pods and dents were more than willing to have me shadow. It was trying to get a DO to shadow that was difficult.

were you considering dentistry? And if I may ask, what made you not to pursue it?

 

[GypsyHummus]

I am trying to pursue dentistry as of right now. The reason I want to is because I have a state school that accepts a good amount of in state students and I’ll graduate the same amount of debt as I would Podiatry. So, because of the 3 year head start and same debt, I found dentistry to be better deal.

I also don’t want to be an associate. I would like to own my own practice, and the ceiling would be higher as a Dentist. Though I’d imagine owning a podiatry clinic would be fun, just not as lucrative.

I would also like to eventually own a business that is cash only, which is much easier as a Dentist. I hate insurance.

I really don’t want to work for a hospital, but that’s becoming more and more a thing for pods. A good thing overall, as hospital positions are sweet and let’s the public know what pods are. But I wanna be my own boss. I want to spend time with my patients. I go slow. I’m meticulous and I want to do a good job.

If I didn’t get into my state school, I’d go with Podiatry. I mean Podiatry is basically dentistry for feet.

were you considering dentistry? And if I may ask, what made you not to pursue it?

 

[AudiLova619]

I am trying to pursue dentistry as of right now. The reason I want to is because I have a state school that accepts a good amount of in state students and I’ll graduate the same amount of debt as I would Podiatry. So, because of the 3 year head start and same debt, I found dentistry to be better deal.

I also don’t want to be an associate. I would like to own my own practice, and the ceiling would be higher as a Dentist. Though I’d imagine owning a podiatry clinic would be fun, just not as lucrative.

I would also like to eventually own a business that is cash only, which is much easier as a Dentist. I hate insurance.

I really don’t want to work for a hospital, but that’s becoming more and more a thing for pods. A good thing overall, as hospital positions are sweet and let’s the public know what pods are. But I wanna be my own boss. I want to spend time with my patients. I go slow. I’m meticulous and I want to do a good job.

If I didn’t get into my state school, I’d go with Podiatry. I mean Podiatry is basically dentistry for feet.

Are you applying to both in the same cycle, or are you applying to dental first and then podiatry? If you could get into a state school thats great.

 

[AudiLova619]

Are you applying to both in the same cycle, or are you applying to dental first and then podiatry? If you could get into a state school thats great.

Also what is the tuition for your state school?

 

[GypsyHummus]

I’d have to double check, but I’m pretty sure it was something like 60-75k for everything/year.

Also what is the tuition for your state school?