Survey for Recent Dental Grads

Discussion in 'Dental Residents and Practicing Dentists' started by Discovery01, Mar 7, 2007.

  1. Discovery01

    Discovery01 Member
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    Dear SDNF friends,
    If you are a recent grad of a dental school (less than 10 years), it would really help me out if you could answer the following questions for me. I am looking primarily at the financial aspect of a career in dentistry, not at the other angles, which I've analyzed enough. I've shadowed dentists etc to learn more about the day to day of dentistry and the need for manual dexterity. I don't know much about the finances of post-dent school life, as I'm getting such mixed data from different sources (i.e. ADA, SDN past posts, salary.com), etc. I decided to ask people who are recent grads theri experiences. Please answer as candidly as possible because your answers will really at least help me probe the issues further.

    1) How much debt did you have when finishing dent school?
    2) Did you do residency? if so, did you defer your loans at that time?
    3) How much are your monthly payments for your loans?
    4) How much money did you gross the first year out? (gross salary)? What was your net salary? How many hours a week did you work as an associate?
    5) Did you have to pay out of pocket for malpractice insurnace? If so, how much was that insurance?
    6) Do you plan (or did you already) to start your own practice? If so, what was your starting cost and how long after you graduated do you plan to or did you open your own practice?
    7) What did you gross and net the first year of your practice? Cost breakdown if possible?
    8) Are any of your family or freinds dentists which made it easier for you to buy into a practice or did you start from scratch?
    9) If you had to do it all over again, would you say that dentistry is a good financial choice.... what would you do differently thus far in your dental career?

    You can PM me answers if you would like. Thank you.
     
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  3. butch1

    2+ Year Member

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    Sorry, old graduate here...1990 hope this helps
    1-52,000
    2-Yes GPR Yes deferred
    3- dont remember but think around 250-300
    4- 31,000 (USAF)....96,000 first year private as assoc. later. Worked 36-38 hr. week
    5- Yes. Cant remember how much but it is minor/miniscule when compared to your earning ability and risk
    6- Yes, went into ownership as soon as could....initial cost of buy-in was 181,000....group of 4....took 3-4 years to pay out
    7- 1st Year gross about 225,000....1st year net 96,000
    8- SCRATCH, went into group......
    9- Yeah Boy....top 5% of earners......comes with ALOT of "downside" however.....very difficult on the "persona".....BE AWARE OF WHAT YOU ARE GETTING INTO........Money (even though you will have plenty of it) isn't everything in life !!!

    BTW......been in practice almost 20 years in a "semi rural" area and avg. take home has been 360,000/yr in a "nuts and bolts" general practice without as much as a yellow page ad.........you do the math.
     
  4. Cold Front

    Cold Front Supreme Member
    Dentist 10+ Year Member

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    :thumbup:
     
  5. Flapster

    2+ Year Member

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    Please note these are in Canadian Dollars, I practice in Canada. I have been out since 2001.

    1. $120,000
    2. Nope, no residency
    3. $1500
    4. Gross $95,000 Net $88,000. worked like a rented mule, 50 hours/wk.
    5. Yes, Malpractice insurance sets you back about $1200 for 3 million I believe
    6. I own my own dental practice. Starting cost $450,000. I opened the doors 3 years post-graduation in 2004.
    7. Gross first year $360,000 Take Home $120,000.
    8. Nope, nobody was a dentist in the family. Did not start from scratch. It is very difficult to start from scratch. Bought an old dentist, moved his charts to a new location. I know it is a cliche but LOCATION, LOCATION, LOCATION....
    9. Dentistry is a great financial choice. Sky is the limit if you have set up the right practice. A good dental office in Canada should produce $1.2 million gross/yr, take home for the dentist should be $250,000-$400,000.

    Like the previous person said, it is not all about the money. Dentists have a lot of stress in their lives and their bodies pay the price being bent over patients (ok that sounds bad). Personality is very important as well. If you are outgoing, charming, generally happy, you will do better as a dentist. You should also have a keen business sense.
     
  6. setdoc7

    Dentist 10+ Year Member

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    KEEN BUSINESS SENSE. I agree 100%
     
  7. dycal

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    "Five American, Six Canadian....Five American, Six Canadian.."
     

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