so i was just thinking..

[pntbutter]

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how come some dentists are really well off... nice house, cars, vacations, work schedule while others are barely scraping by? This worries me as I wonder, after all this hard work, which category will fall into when I'm done here? and I'm not just comparing private practice dentist to associates. At least in pharmacy or medicine, you know you will be making a set salary comparable to other new grads. In dentistry the income range is so much wider.

 

[ohiostateboy]

According to the ADA, in your career you should average
"Great income (in the $198,000 per year range) "
http://www.ada.org/public/careers/index.asp

When you first graduate, you'll be struggling b/c you're making 100k. However, in your later years you'll make 300k. In your "growth years" you'll make in the 198k range.😍

So, you'll get that sweet house; it just might take a little patience.😎

 

[aphistis]

According to the ADA, in your career you should average
"Great income (in the $198,000 per year range) "
http://www.ada.org/public/careers/index.asp

When you first graduate, you'll be struggling b/c you're making 100k. However, in your later years you'll make 300k. In your "growth years" you'll make in the 198k range.😍

So, you'll get that sweet house; it just might take a little patience.😎

...Wow. On multiple levels.

 

[Yellow Snow]

how come some dentists are really well off... nice house, cars, vacations, work schedule while others are barely scraping by? This worries me as I wonder, after all this hard work, which category will fall into when I'm done here? and I'm not just comparing private practice dentist to associates. At least in pharmacy or medicine, you know you will be making a set salary comparable to other new grads. In dentistry the income range is so much wider.

Getting into dental school isn't a guarantee of anything really. You have to make it happen and being successful financially as a dentist requires totally different skills than being successful in gaining entrance into dental school. So some people graduate and do well and others don't do as well.

 

[pntbutter]

I saw in a wanted ad that a private practice clinic was looking for an associate and the rate was "20/hr non negotiable" I made about that much with just my BS!

I've talked to several private practice dentists who seem to just kinda break even. Granted they all have pretty nice 4 day per week schedules...

And then i hear of other dentists who are just living it up living the high life. i dont get it/

 

[pmantz]

I saw in a wanted ad that a private practice clinic was looking for an associate and the rate was "20/hr non negotiable" I made about that much with just my BS!

I've talked to several private practice dentists who seem to just kinda break even. Granted they all have pretty nice 4 day per week schedules...

And then i hear of other dentists who are just living it up living the high life. i dont get it/

I will not justify this post with a true responce.

 

[Turnerjo13]

I think a lot of it has to do with how well you manage your practice.

 

[tinman831]

If you're lucky, you MIGHT break six figures as a newly graduated dentist (also depending on the area). Many people have the false assumption that once you're out of dental school, you'll be rolling in dough, which is hardly the case.

 

[pmantz]

If you're lucky, you MIGHT break six figures as a newly graduated dentist (also depending on the area). Many people have the false assumption that once you're out of dental school, you'll be rolling in dough, which is hardly the case.

I don't know about you but already planning on how to spend my millions my first year out.

 

[IndianGraduate]

i heard that if after dental school if u do a 1 year residency you dont have to take the WREB...is it true?
do u get paid during ur residency?
how hard is it to obtain a residency position?

 

[anamod]

If you're lucky, you MIGHT break six figures as a newly graduated dentist (also depending on the area). Many people have the false assumption that once you're out of dental school, you'll be rolling in dough, which is hardly the case.

Luck has nothing to do with it. Both my wife and I made 6 figure incomes our first years out. Finding a job were you are busy and being personable are the keys.

I don't think I can stress this enough: work on being a real person and laid back. Have fun in dental school socialize and meet new people that are not dental students. Geeting a C in a class is not the end of the world, so go out instead of studying. Work where there is a need, not where it is cool and fun to live and you will have more than enough money. Now I know some of you will say "but I can't live in the rural areas" well than expect more of a challenge of obtaining the lofty incomes you dream of.

 

[I'mFillingFine]

If you live like a dentist while you're a student, you'll be living like a student while you're a dentist.

😀

Not mine; I think a recent NYU grad told me that one, apparently from a professor.

It's all about money management and standards of living, just like any other profession. Your debt when you leave, how you spend your new money, the position you find, how quickly you pay off the debt, and where in the career you are looking at.

Just think of the many (formerly) millionaire celebrities who are now bankrupt or suffering from serious substance abuse problems. There's your answer!

 

[IndianGraduate]

i think my question got lost in here..so i'll post it again...any input ppl?

i heard that if after dental school if u do a 1 year residency you dont have to take the WREB...is it true?
do u get paid during ur residency?
how hard is it to obtain a residency position?

 

[DrJeff]

If you live like a dentist while you're a student, you'll be living like a student while you're a dentist.

😀

Not mine; I think a recent NYU grad told me that one, apparently from a professor.

It's all about money management and standards of living, just like any other profession. Your debt when you leave, how you spend your new money, the position you find, how quickly you pay off the debt, and where in the career you are looking at.

Just think of the many (formerly) millionaire celebrities who are now bankrupt or suffering from serious substance abuse problems. There's your answer!

Very true words.

Yup, as a dentist, most of you will be bringing in an income that is greater than 90%+ of the rest of the folks in the US, and that's not a bad thing. BUT, getting a smart fiscal plan from day #1 is key to making sure that you'll be able to enjoy your life without long term financial worries.

I've posted this before and I'll post it again. When you get out and start getting a few paychecks in the bank, sure go ahead and reward yourself for your accomplishment of finishing d-school, BUT keep it within reason (i.e. maybe buy yourself that flat screen TV or a cool new lap top, not the brand new BMW. Then find yourself a financial advisor, and this may take a few meeting with a few folks to find someone you feel comfortable with. Then once you've found someone you feel comfortable wth, have some long talks with them to set up a plan. They'll look at your debt load and income, and get you set up on a plan that will have you taking care of your monthly expenses and setting up your retirement plan and still have a few dollars left each month to go out to dinner under most circumstances. Then stick to your plan, especially the retirement portion.

Fiscal restraint is hard for many folks and good deal of the time, especially after finishing d-school and suddenly seeing a nice paycheck. But if your don't exercise some restraint, you could very well end up being in the top 10% of income earners in the US and have to declare bankruptcy😱

 

[HawkeyeDDS]

i think my question got lost in here..so i'll post it again...any input ppl?

i heard that if after dental school if u do a 1 year residency you dont have to take the WREB...is it true?
do u get paid during ur residency?
how hard is it to obtain a residency position?

Go to the WREB website or call them directly, don't bet your future on random people.

 

[HawkeyeDDS]

Very true words.

(i.e. maybe buy yourself that flat screen TV or a cool new lap top, not the brand new BMW.

I bought a BMW that was a couple of years old, you just have to make compromises. It's a tough life.