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I feel like this is where poor understanding of science and statistics comes into play. People pay so much attention to anecdotes from the top of the distribution that they ignore modal outcomes and thereby get themselves into terrible situations. The unfunded programs themselves are mostly to blame, but students also need to be more conservative when it comes to planning their financial futures..This is why debt matters so much, but is left out of your talking points. In this field we simply cannot afford to take on med school level debt. Because, as you say in point 3 (and implied in point 1), we don't make physician level income. And, when taking on any debt the assumption should always be that you WILL have to pay it back. Depending on external funding sources for your debt is, in my opinion, foolish. If you end up successfully applying for PSLF, then bonus, but students shouldn't be taking educational loans that they have no intent, plan, or ability to pay back. And I don't believe ethical educational programs should require students to take on this level of debt either.
In typical fashion of my opinions: I honestly believe that most of the PsydD vs PhD nonsense is driven by money.
1) Psychologists make stupidly low incomes. Regardless of Degree.
2) Reducing the number of psychologists will do nothing to change incomes. Hourly is derived from cms, which does not use availability for how they determine rates.
This is why we need better professional advocacy so that we can get those sweet, sweet EM codes
3) Its all about productivity. Income is simply hoursly rate times hours billed. A typical office job has 40hrs/week; 50 weeks a year. This means 2000 hrs worked a year. Medicare pays around $90/hr for psych services. Go look up ER docs hourly wages. It’s like $130/hr. Now explain why their median income is reported to be around $250k and psychologists are reporting a median income of around $80k without using productivity. You can’t.
5) I honestly believe that the field would be saved by an increase in productivity and aggressive training in assertiveness in contract negotiations.
This seems like a significant problem in grad school in general, especially clinical science programs. Faculty don't want to talk about money, working in industry, or any other business side of things. I don't know if it's that they are career academics and don't have experience in that realm, if talking about money in that manner seems uncouth, or what else it might be, but it's really doing a disservice to students.
I don't think psychologists lack the training, scope, or other necessary features to help close the gap with physicians (though not entirely), it's more that grad programs, internship, and post doc generally don't seem to provide the tools to do this.