Salary in Industry

[jake2]

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I have been hearing that salaries in industry for md/phds are significantly higher than in academia for a while now and how high exactly is the salary that people "sell out" for. I am curious as to what is the typical salary range for industry compared to academia. Also, does anybody know what salary md/phd's usually get in consulting jobs or jobs on wall street?

 

[Gfunk6]

Though I cannot give you hard numbers, I have heard from MSTP grads that gaining employment without residency or post-doc may not be in your long-term career interests. True you are graduating debt-free and the notion of spending 3-5 more years earning a paltry $35K may seem galling.

However, though you may be able to crack a 6-digit salary by going straight into industry, you will quickly encounter a glass ceiling. Without board certification to practice medicine nor the extensive research background to run a lab, you will find it difficult to advance in your career.

From my own personal experience, having just earned my PhD, I can tell you that in no way do I feel prepared to run my own lab. First I need to complete a research-oriented residency, leaning heavily on established faculty for support, encouragment, and advice.

However, jobs for MD/PhDs in industry after residency are extensive and favorable.