The grass is always greener on the other side. I will make one comment about the financial differences b/w specialists and General practitioners and then move on to my main point. The floor is lower for GP's, but the ceiling is higher....
Specialists do depend on referrals and that isn't any fun. Although there may be the misperception that specialists get so good at the one or two procedures that they do, this certainly is not the case, and the work is very challenging. There is a reason that you need to go back to school 50-150% longer to become a specialist. The disciplines get very detailed and the work you can expect will not be of the GP variety. Think about it...You are getting a case from the GP because they either a. couldn't handle it from the get go, or b. they screwed it up and now need you to bail them out. In other words, you get the challenging stuff and no two cases are the same. Believe me when I say that a Root Canal isn't just a root canal. They get incerdibly tricky and challenging, and as a specialist, you are the last line of treatment. What if the case is difficult, even for a specialist's standards. I've known Endodontists that have spent 4 hours completing a root canal. Are they going to be able to refer it out to someone else? Technically, they could do that, but they would then kiss future referrals from the GP goodbye. GP's can choose to focus and excel at restorative dentistry, or they can choose to do a little bit of everything. GP's get to do the bread and butter of dentistry and they can choose to refer everything else out, while specialists are obligated to successfully perform whatever comes their way, usually the difficult stuff. GP's have a choice.... Specialists do not. But on the plus side, specialists achieve a very high level of expertise in their discipline, and being able to handle the cases that others could not may be the professional satisfaction that some will seek.
Don't forget the type of doctor-patient relationships that will be forged. As a GP, you will be able to grow with your patients over a lifetime, but as a specialist, your relationship with them will vary. There are pluses and minuses on both sides, and you just have to decide what you want out of the dental profession. Most important, choose to do what you enjoy. After all, you are the one that is going to have to wake up every morning for the next 40 years to go to work. You can either dread the day or feel juiced about. How will you decide to live?