Should I quit law school to go into medicine for the money?

[CasualScrubs100]

Hello everyone,

I've been thinking lately about dropping out of law school and going into medicine instead, and I would like to know if it's worth making the jump. My school is in the top 25, where I received a full-ride scholarship thanks to my academic performance. In other words, no debt. I don't like school very much. However, my internships have been very fruitful, and it's a profession I'm willing to do with all my heart. I certainly enjoy the work environment and all that the profession entails.

Let me be forthcoming–my switch to medicine would be purely for the salary. My parents/grandparents all have MDs, so my understanding of what is a "good" salary and a "livable" wage are highly skewed by my background, where earning less than 100k a year is considered poor. I came to realize that lawyering doesn't offer the same financial stability it once did. Yes, the jobs are there, but most start at 65 or 70k, and you'd be lucky to break 100k after a few years of work. I would like to begin my career in public defense, but the starting salary for that is a paltry 50k. I don't want to struggle. As much as I like legal work, I don't want to be the "starving artist" of my family. Has anyone here gone into medicine just for the money?

I envy doctors so much, because no matter where they go or what they do, they're guaranteed a good schedule with a wonderful salary, at least 200k. More importantly, they are immune to recessions, unlike lawyers. My thinking is, it's better to leave now in my mid-20s while there's time. I've had one shadowing experience with one of my parents' coworkers, and I didn't like it very much (the process of seeing patients, asking them how they're doing, examining them, and then dictating notes into a computer didn't excite me as much as the civil trials I saw last summer). But I expect other specialities might interest me more.

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[M&L]

dont. Do not choose medicine for money please. plus, realize, it will take you at least 2 years to matriculate, then 4 years of medical school, 4-5 years for residency/fellowship, so you wont start making any "good" money for another 10-11 years. Plus you will be sitting on 200K student loans give or take.

Most importantly, - medical career is a very big commitment emotionally and mentally. It will suck EVERYTHING out of you. Sometimes love of medicine is the only thing that will hold you together. IF you dont have that - its a direct way towards depression and substance abuse.

Do not do it for money.

 

[voxveritatisetlucis]

no

 

[DarkBluMage]

Absolutely not

 

[Med Ed]

You can't possibly be serious.

 

[wook]

dont. Do not choose medicine for money please. plus, realize, it will take you at least 2 years to matriculate, then 4 years of medical school, 4-5 years for residency/fellowship, so you wont start making any "good" money for another 10-11 years. Plus you will be sitting on 200K student loans give or take.

Most importantly, - medical career is a very big commitment emotionally and mentally. It will suck EVERYTHING out of you. Sometimes love of medicine is the only thing that will hold you together. IF you dont have that - its a direct way towards depression and substance abuse.

Do not do it for money.

The above.

Let me add my thoughts....

Please d0 not do this job for the money.

In summary, Do NOT do this job for the money. Do what you enjoy!

Being an assistant district attorney (ADA) or solicitor may not pay much initially, but it is survivable. After 10 years on that job you will have a much better salary and likely a better work life balance.

If you really want to do medicine because you enjoy the job, then absolutely apply. Otherwise, do what you enjoy!


Wook

 

[wysdoc]

Hello everyone,

I've been thinking lately about dropping out of law school and going into medicine instead, and I would like to know if it's worth making the jump. My school is in the top 25, where I received a full-ride scholarship thanks to my academic performance. In other words, no debt. I don't like school very much. However, my internships have been very fruitful, and it's a profession I'm willing to do with all my heart. I certainly enjoy the work environment and all that the profession entails.

Let me be forthcoming–my switch to medicine would be purely for the salary. My parents/grandparents all have MDs, so my understanding of what is a "good" salary and a "livable" wage are highly skewed by my background, where earning less than 100k a year is considered poor. I came to realize that lawyering doesn't offer the same financial stability it once did. Yes, the jobs are there, but most start at 65 or 70k, and you'd be lucky to break 100k after a few years of work. I would like to begin my career in public defense, but the starting salary for that is a paltry 50k. I don't want to struggle. As much as I like legal work, I don't want to be the "starving artist" of my family. Has anyone here gone into medicine just for the money?

I envy doctors so much, because no matter where they go or what they do, they're guaranteed a good schedule with a wonderful salary, at least 200k. More importantly, they are immune to recessions, unlike lawyers. My thinking is, it's better to leave now in my mid-20s while there's time. I've had one shadowing experience with one of my parents' coworkers, and I didn't like it very much (the process of seeing patients, asking them how they're doing, examining them, and then dictating notes into a computer didn't excite me as much as the civil trials I saw last summer). But I expect other specialities might interest me more.

Use your interest in medicine to specialize in defending doctors against malpractice suits!

 

[PikminOC]

Makes sense to me. Being a physician does pay much better than lawyer.

 

[filmfan10]

I do not recommend doing medicine solely for the money

 

[BritainKittenMittens]

run

 

[Meridian32]

If you like legal work and salary is your main consideration, then why not go into an area of the law that is more lucrative, like big law or corporate law? Per this WSJ article (which is from 2021, so current numbers are almost certainly higher):

"There were signs Friday the new industry standard is likely to rise even further, with New York-based Davis Polk & Wardwell LLP telling its lawyers their pay would climb to between $202,500 for Class of 2021 law-school graduates and $365,000 for those who had been at the firm at least eight years."

 

[SpoiledMilk]

From an admission committees' POV, this applicant quit in the middle of law school. Why? They could also quit in the middle of medschool. Pass. @Mr.Smile12

The reality is that salary and job security are factors in deciding to become a physician in the US. It shouldn't be in the top 2 though. If you are serious, finish law school with no debt, practice 2-3 years, while doing the things necessary to get into medschool, then apply.

 

[Mr.Smile12]

I don't really think you have thought this through very well. Why the change of heart now?

 

[Goro]

From an admission committees' POV, this applicant quit in the middle of law school. Why? They could also quit in the middle of medschool. Pass. @Mr.Smile12

Bingo!

 

[Bored Snorlax]

Hello everyone,

I've been thinking lately about dropping out of law school and going into medicine instead, and I would like to know if it's worth making the jump. My school is in the top 25, where I received a full-ride scholarship thanks to my academic performance. In other words, no debt. I don't like school very much. However, my internships have been very fruitful, and it's a profession I'm willing to do with all my heart. I certainly enjoy the work environment and all that the profession entails.

Let me be forthcoming–my switch to medicine would be purely for the salary. My parents/grandparents all have MDs, so my understanding of what is a "good" salary and a "livable" wage are highly skewed by my background, where earning less than 100k a year is considered poor. I came to realize that lawyering doesn't offer the same financial stability it once did. Yes, the jobs are there, but most start at 65 or 70k, and you'd be lucky to break 100k after a few years of work. I would like to begin my career in public defense, but the starting salary for that is a paltry 50k. I don't want to struggle. As much as I like legal work, I don't want to be the "starving artist" of my family. Has anyone here gone into medicine just for the money?

I envy doctors so much, because no matter where they go or what they do, they're guaranteed a good schedule with a wonderful salary, at least 200k. More importantly, they are immune to recessions, unlike lawyers. My thinking is, it's better to leave now in my mid-20s while there's time. I've had one shadowing experience with one of my parents' coworkers, and I didn't like it very much (the process of seeing patients, asking them how they're doing, examining them, and then dictating notes into a computer didn't excite me as much as the civil trials I saw last summer). But I expect other specialities might interest me more.

At least you're being honest. I do hope you like medicine though bc you might end up switching career half way through again to become an astronaut.

 

[kidthor]

From an admission committees' POV, this applicant quit in the middle of law school. Why? They could also quit in the middle of medschool. Pass. @Mr.Smile12

The reality is that salary and job security are factors in deciding to become a physician in the US. It shouldn't be in the top 2 though. If you are serious, finish law school with no debt, practice 2-3 years, while doing the things necessary to get into medschool, then apply.

Well it’s even worse - OP doesn’t actually want to be a doctor, they just want to get paid a lot.

So yeah OP, if you don’t want to actually be a doctor then going to medical school is a poor idea.

Finish law school, practice law, and consider transitioning to something else (not requiring a degree) if you don’t like it. You could otherwise tack on an MBA during law school for a mere extra year (usually jd/mba takes 4 total) and go into business…

Going into medicine for money is a losing idea.

 

[Obnoxious Dad]

If you like legal work and salary is your main consideration, then why not go into an area of the law that is more lucrative, like big law or corporate law? Per this WSJ article (which is from 2021, so current numbers are almost certainly higher):

"There were signs Friday the new industry standard is likely to rise even further, with New York-based Davis Polk & Wardwell LLP telling its lawyers their pay would climb to between $202,500 for Class of 2021 law-school graduates and $365,000 for those who had been at the firm at least eight years."

The lawyers who are making that kind of money are the exception and not the rule. There are 38,000 lemmings marching off annually to the law school sea. A few years ago that number was 45,000. About 25% of them won't graduate or pass the bar. Another 25% will pass the bar but won't get a job that requires a law degree. Another 25% will get a lousy paying job working for jerks. Finally, there are the people who go to big law firms, make bank and work 70 hours a week. Most of the people who go to big law firms will not make partner and will eventually be let go and then will get a corporate job or hang out a shingle. If you want to see what a fool's errand law school is, download this article and read it twice.

"The Crisis of the American Law School" by Paul Campos

 

[voxveritatisetlucis]

If you like legal work and salary is your main consideration, then why not go into an area of the law that is more lucrative, like big law or corporate law? Per this WSJ article (which is from 2021, so current numbers are almost certainly higher):

"There were signs Friday the new industry standard is likely to rise even further, with New York-based Davis Polk & Wardwell LLP telling its lawyers their pay would climb to between $202,500 for Class of 2021 law-school graduates and $365,000 for those who had been at the firm at least eight years."

This is akin matching neurosurgery or something

 

[deleted1095841]

If you want money, go where money is made. Go to Wall Street.

 

[Osminog]

Try to become a biglaw associate, or get an MBA from a top program and pivot into business. You don’t need to pursue an extra 7+ years of rigorous, stressful education and training just to make a six-figure salary.

 

[aurevoir0711]

If you really want good money, just join big law. They pay a set wage based on your experience. They start with 215k the last time I checked.

 

[voxveritatisetlucis]

If you really want good money, just join big law. They pay a set wage based on your experience. They start with 215k the last time I checked.

You can’t get these jobs unless you go to a top 14 law school and excel

 

[chilly_md]

Vandy and USC are outside the top 14 and seem like they send a good deal to big law firms. Boston seems to be recruited by Ropes & Gray.

Having no debt out of law school is a good position to be in even if you work someplace else or end up working within the region.

 

[aurevoir0711]

You can’t get these jobs unless you go to a top 14 law school and excel

There are definitely exceptions. I know a couple of people who went to mediocre law schools and secured positions at big law last year. Their grades were decent, but not great either. I am sure it requires some luck and lots of networking.

 

[operaman]

I think OP has struggled with basic mathematics in this case. If he quits now, then that means:

2-3 years of post bacc/apps: $0 a year
4 years Med school: negative salary

So that’s 7 years of zero salary at best, and possibly even lots of debt.

Then he needs to do 3-7 years of residency/fellowship at $50-75k /yr, or basically what we would make on the low end coming out of law school.

Assuming a 4 yr residency, he’s looking at 11 years of low/no salary at all. Sure, law grads outside the big firms will have lower salaries than attendings, but they’re definitely higher than medical students! And probably higher than residents. In terms of lifetime earnings, we are talking a $750k difference before even starting as an attending. And that’s not counting the investment and compound interest side of things.

OP- if you want to make a higher salary and be unhappy doing a job you fundamentally dislike, go to med school.

If you want to be rich, finish law school debt free, take the highest paying law job you can get, and spend the next 10 years living and working like a poor medical student or resident and save/invest as much as possible. You could easily have >$1million net worth in the same time it would take you to finish med training, and more if you’re business savvy and entrepreneurial. Work another ten years and bump up the lifestyle a bit and you could probably retire at 45 with a multimillion dollar net worth at the same time you would just be paying off your med school loans.

Assuming that initial $1m would grow to ~$2.5m in your second career decade assuming typical market returns, and that you could save another $1m over that next decade as well, with additional compounded growth you’re looking at around $4m net worth in 20 years. At that point you could even retire on a six figure fixed income if you wanted to.

Salary and wealth are very different things. Chase what’s important.

 

[Dantes]

I've had one shadowing experience with one of my parents' coworkers, and I didn't like it very much (the process of seeing patients, asking them how they're doing, examining them, and then dictating notes into a computer didn't excite me as much as the civil trials I saw last summer). But I expect other specialities might interest me more.

Why? You don't even like the very basic components of the job. Sure there's rads or path, but no guarantee you'd like those either.

You're also going be living off 20-25k a year in school for four years, followed by 60-70k for 3-7 years in residency and fellowship. Get some MBA and go to investment banking or finance.

 

[voxveritatisetlucis]

Why? You don't even like the very basic components of the job. Sure there's rads or path, but no guarantee you'd like those either.

Get some MBA and go to investment banking or finance.

Will he hard to go into finance mid 20s after average age of MD at Goldman Sachs is like early 30s

 

[Fluidity of Movement]

is this not an obvious troll post?

My troll senses are tingling.

inb4lock