Would any of you go to medical school if you and your spouse already had a combined income of $350K

  • yes

    Votes: 24 45.3%
  • no

    Votes: 29 54.7%

  • Total voters
    53
Aug 6, 2017
3
0
Status
Pre-Medical
Hello Community,

Thank you in advance for taking the time to read this post.

I went to an ivy league undergraduate school and finished 3 years of my degree before taking time off from school to start a healthcare startup. I am earning $200K as the CEO, have raised millions of dollars of capital, own a large portion of stock in the business I founded, have full voting control of my company, and have the potential to have increased salary as the business grows. We are having a large impact in the field of public health and prevention which I am extremely passionate about.

I am slowly finishing the last portion of my degree on the side and have been thinking about going to medical schools. All of the doctors that are involved in the business think I should be an entrepreneur and are strongly discouraging me from going to medical school due to 1) issues associate with being a doctor 2) My strong business abilities and entrepreneurial traits. 3) They say I will have a larger impact as a public health and tech entrepreneur than as a doctor. This all may be true.

I am also about to get engaged, am living with my girlfriend, have a dog, and I am enjoying life. I sometimes think about going to medical school after selling my company. I am not sure why I still think about going to medical school. Perhaps it is to gain stronger scientific understanding. I do not know.

However, from a financial perspective if one is making $200K + equity then it would seem like a very foolish financial decision to go to medical school which would result in me earning negative $50K per year going into debt. So in total I would be earning negative $250K per year while in medical school - not counting my equity in the startup which might one day turn into millions of dollars of liquid cash. This is not to mention that while I am a resident I would only be earning $50K instead of $200K so I am still negative $150K per year. This is on top of the fact that I am currently 100% my own boss - and if I go to medical school then I will have a significantly worse lifestyle it seems (80 hours per week instead of 40-50). It is true that perhaps I would be more fulfilled as a doctor which would seem the only reason to do this from a non-financial perspective, but currently I am working on very important public health issues and preventing chronic disease. I think our healthcare system and medical training is WAY too focused on disease treatment and not enough on prevention which is one reason I decided to start my company instead of going to medical school. My girlfriend who I am about to marry does not want me to go to medical school because she says our lifestyle will be horrible.

Can someone please tell me if I am missing something. Obviously society needs doctors and they save lives. However, I grew up middle class and this seems like a very bad financial decision for me at this time. I suppose if I sold my company and had a few million in the bank I could go to medical school when I am 30, but it seems like I could have a larger impact through business, public health, and technology. Maybe doing business / law and going down social entrepreneurship route. It seems that the system is difficult to change from within and we need new ventures to change things.

I am actually an idealist person that likes to think people do things to help other people and not just for money.

However, have you ever heard of anyone who grew up middle class at the age of 22 that was earning $200K per year and living with the love of their life decide that they want to go to medical school? My spouse also earns $150K so our combined income is $350K.

So yes we need doctors who save lives - but speaking purely from a financial perspective - why would I go to medical school? I am having a social impact already in public health/entrepreneurship and I am working in healthcare already doing something very unique. If I become a doctor then there will always be other med school applicants that will take my spot if I do not go - but if I am an entrepreneur I may make a very unique dent in the universe.

I want to be a leader and have a positive impact on society no matter what I do and I believe strongly in public service and social impact ventures.

So what do you all think? I am sorry if this post comes off the wrong way just trying to be honest. Based on the situation it seems really silly to consider medical school unless I had some dying passion for doing research or working 1-on-1 with patients. Thoughts?

Would any of you go to medical school if you and your spouse already had a combined income of $350K and you were enjoying life and felt like you were already doing something somewhat meaningful?
 
Last edited:

NotASerialKiller

2+ Year Member
Jul 7, 2015
1,456
6,849
Status
Medical Student
I am also about to get engaged, am living with my girlfriend, have a dog, and I am enjoying life. I sometimes think about going to medical school after selling my company. I am not sure why I still think about going to medical school. Perhaps it is to gain stronger scientific understanding. I do not know.
Dog ownership is tough as a med student, I'd recommend staying as a CEO
 

Dr. Scribe

2+ Year Member
Jul 10, 2014
449
484
Status
Medical Student
I'm not a troll everything I posted is 100 percent accurate and I would appreciate it if you can take me seriously.
It is hard for any of us to answer this question because we are not you. Personally, I would derive a greater sense of meaning from being a physician who cares for patients directly rather than from being the owner of a company that donates millions every year to the needy. You say you are not motivated by money, but your reasons for not attending medical school seem to revolve around the associated opportunity cost (i.e. lost potential earnings). I don't think medicine is for you because, if it was, you wouldn't be considering alternatives until you believed that medical school was beyond your reach.
 

Isoval

I'm marginally higher on the totem pole.
Gold Donor
2+ Year Member
Jul 5, 2017
1,279
1,927
Texas
Status
Medical Student
I gathered:
"wow this is dumb I already make a ton of money"
"med school would be a waste of profit"
"I already like what I'm doing"

So you a) have used money as the crux of your argument and b) already enjoy what you're doing.

No, you should not go to medical school.
 

mw18

5+ Year Member
Jan 7, 2014
886
953
Status
Medical Student
I'm a med student and I wouldn't switch places with your life (obviously no offense intended), but I don't have passion as an entrepreneur and I already know that I like medicine (so far). Financially, it won't be a great decision. You have to decide whether or not the potential quality of life improvement of medicine over startup is there at all and then if it is worth the financial downgrade. That's a decision only you can make.
 

imxpandanese

5+ Year Member
Aug 16, 2013
64
103
Status
Pre-Medical
(Were you in Wharton? high five alma mater)

But based on what you've told us so far in terms of your considerations and reservations for medical school, I would say you have all the qualities that admissions committee look for in an applicant: $elfle$$ness, pa$$ion, and genuine passion for medicine$$$$$$. I would say go for it.
 

mellie0

2+ Year Member
Apr 23, 2015
386
445
Status
Medical Student
Maybe get a Master's in some science field to get the knowledge you want?

Becoming a doctor is a hard, long process that needs your 100% and I don't think you're there. It has to be the thing you want most in the world for you to push through some long years of intense training, studying, and breathing only medical school. You'd need to give up A LOT for you to focus entirely on your studies.

Also, did you take any science courses in undergrad? 'Cause if you didn't, how do you know you enjoy learning about biological systems?
 

Lucca

Will Walk Rope for Sandwich
Staff member
Administrator
5+ Year Member
Oct 22, 2013
8,091
17,386
City of the Future
Status
Pre-Medical
1. nobody makes a dent in the universe.
2. if u like what ur doing and have no idea why you would want to go to medical school, then dont go to medical school
 
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PreMedMissteps

The Great West Coast
2+ Year Member
Jan 27, 2017
1,644
1,711
No, because it doesn't sound like your heart is in it. Your heart will need to be in it in order to get thru and put up with the temporary loss of income.
 
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septalridge

2+ Year Member
Dec 29, 2016
24
16
Status
Pre-Medical
Hello Community,

Thank you in advance for taking the time to read this post.

I went to an ivy league undergraduate school and finished 3 years of my degree before taking time off from school to start a healthcare startup. I am earning $200K as the CEO, have raised millions of dollars of capital, own a large portion of stock in the business I founded, have full voting control of my company, and have the potential to have increased salary as the business grows. We are having a large impact in the field of public health and prevention which I am extremely passionate about.

I am slowly finishing the last portion of my degree on the side and have been thinking about going to medical schools. All of the doctors that are involved in the business think I should be an entrepreneur and are strongly discouraging me from going to medical school due to 1) issues associate with being a doctor 2) My strong business abilities and entrepreneurial traits. 3) They say I will have a larger impact as a public health and tech entrepreneur than as a doctor. This all may be true.

I am also about to get engaged, am living with my girlfriend, have a dog, and I am enjoying life. I sometimes think about going to medical school after selling my company. I am not sure why I still think about going to medical school. Perhaps it is to gain stronger scientific understanding. I do not know.

However, from a financial perspective if one is making $200K + equity then it would seem like a very foolish financial decision to go to medical school which would result in me earning negative $50K per year going into debt. So in total I would be earning negative $250K per year while in medical school - not counting my equity in the startup which might one day turn into millions of dollars of liquid cash. This is not to mention that while I am a resident I would only be earning $50K instead of $200K so I am still negative $150K per year. This is on top of the fact that I am currently 100% my own boss - and if I go to medical school then I will have a significantly worse lifestyle it seems (80 hours per week instead of 40-50). It is true that perhaps I would be more fulfilled as a doctor which would seem the only reason to do this from a non-financial perspective, but currently I am working on very important public health issues and preventing chronic disease. I think our healthcare system and medical training is WAY too focused on disease treatment and not enough on prevention which is one reason I decided to start my company instead of going to medical school. My girlfriend who I am about to marry does not want me to go to medical school because she says our lifestyle will be horrible.

Can someone please tell me if I am missing something. Obviously society needs doctors and they save lives. However, I grew up middle class and this seems like a very bad financial decision for me at this time. I suppose if I sold my company and had a few million in the bank I could go to medical school when I am 30, but it seems like I could have a larger impact through business, public health, and technology. Maybe doing business / law and going down social entrepreneurship route. It seems that the system is difficult to change from within and we need new ventures to change things.

I am actually an idealist person that likes to think people do things to help other people and not just for money.

However, have you ever heard of anyone who grew up middle class at the age of 22 that was earning $200K per year and living with the love of their life decide that they want to go to medical school? My spouse also earns $150K so our combined income is $350K.

So yes we need doctors who save lives - but speaking purely from a financial perspective - why would I go to medical school? I am having a social impact already in public health/entrepreneurship and I am working in healthcare already doing something very unique. If I become a doctor then there will always be other med school applicants that will take my spot if I do not go - but if I am an entrepreneur I may make a very unique dent in the universe.

I want to be a leader and have a positive impact on society no matter what I do and I believe strongly in public service and social impact ventures.

So what do you all think? I am sorry if this post comes off the wrong way just trying to be honest. Based on the situation it seems really silly to consider medical school unless I had some dying passion for doing research or working 1-on-1 with patients. Thoughts?

Would any of you go to medical school if you and your spouse already had a combined income of $350K and you were enjoying life and felt like you were already doing something somewhat meaningful?
You really need to do some soul-searching because your calculus is revolving (or so it seems) around a monetary basis (in spite of your self-professed idealism). There's nothing intrinsically wrong with that, but given the amount of time and effort you are going to need to become an MD, it would be really helpful to be 100% sure of what you really want to do. Also, is is truly a binary choice, or could you concomitantly maintain your business while going the med school route?
 
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Sharknad0

2+ Year Member
Oct 9, 2016
320
252
Status
Pre-Medical
Troll aside, if you go into med school you'll have the thought of going back to the company in your head in case you can't cut it. I'd stay with the company.


Sent from my iPhone using SDN mobile
 
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cactusman

2+ Year Member
Oct 12, 2016
1,054
1,633
Status
Pre-Medical
You really need to do some soul-searching because your calculus is revolving (or so it seems) around a monetary basis (in spite of your self-professed idealism). There's nothing intrinsically wrong with that, but given the amount of time and effort you are going to need to become an MD, it would be really helpful to be 100% sure of what you really want to do. Also, is is truly a binary choice, or could you concomitantly maintain your business while going the med school route?
He said med school, not dental school.
 
8

863168

@HealthcareEntrepreneur Market penetration. You are in a business that you believe can create or subsidize products which will maintain the health of thousands in a fraction of the time it will take you to diagnose & treat a single life. If you were any part genuine about Ivy League or running a successful non-profit then you would know this is a no-brainer in terms of which career has a more pervasive impact. You are selling pencils to anyone who will buy them, not teaching a classroom about HIV/AIDS. If you were pragmatic as you attempt to show off then there was no need to prompt a random subset of people about which direction you should follow. You oversold your position and now you came up short.
 

flasheroonie

Teddy Bear
7+ Year Member
May 24, 2010
41
31
TARDIS
Status
Attending Physician
No.
 
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darkjedi

how did this get here I am not good with computer
7+ Year Member
Oct 14, 2009
2,986
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docgtor is best job

medicine is a calling, you shouldn't have to be convinced to do it

I wouldn't trade being a physician to just be a businessperson/financier/entrepreneur/whathaveyou again. I will likely get involved in some side gigs later in my career, but I would never give up practicing medicine.