Survey on Recent Medical School Graduates

Discussion in 'General Residency Issues' started by Discovery01, Mar 7, 2007.

  1. Discovery01

    Discovery01 Member
    2+ Year Member

    Joined:
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    Status:
    Pre-Health (Field Undecided)
    I wanted to ask you some questions about financial life
    after medical school. I understand that money isn't
    all that matters in deciding on a medical career, but
    finances/lifestyle are factors that I'd like to
    discuss with someone who has gone through the path to
    learn more from your experiences.

    Pardon me if I am blunt in my questions, but I figure
    that if I talk to a few peopple I can get a more
    candid and realistic image of what it is like to be in
    debt after med school.

    1) What stage are you now? Residency or Post
    Residency?
    2) How much debt did you take out in medical school?
    Any undergrad debt?
    3) Could you defer your loans during residency?
    4) What type of residency did you do? How much did you
    make (both gross and net) after you graduated?
    5) Do you have to pay malpractice insurance out of
    pocket or is it covered if you work for a hospital? 6)
    What was your monthly student loan payment amount?
    7) What is your typical week's work hours? How often
    are you on call? Is this above or below average for
    your particular field?
    8) How difficult or easy do you find it to have time
    to spend with your family, friends, or in whatever
    other way you find appealing? Do you plan to have
    kids, if none already; if so, do you think that being
    a doctor will impede on your family plans?
    9) If you could have done something differently
    regarding finances in med school and beyond, what
    would you have done?
    10) Financially speaking, do you think med school is a
    good "return on investment."
     
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  3. doctawife

    doctawife Rocephin is for wimps
    5+ Year Member

    Joined:
    Mar 6, 2006
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    Status:
    Attending Physician
    1) What stage are you now? Residency or Post
    Residency

    Post residency - I've been an attending for less than a month.

    2) How much debt did you take out in medical school?

    About $100,000

    Any undergrad debt?

    No

    3) Could you defer your loans during residency?

    Yes - if all your loans are gub-ment, then all your loans are deferable during residency.

    4) What type of residency did you do? How much did you
    make (both gross and net) after you graduated?

    Pediatrics. $105000 pretax and prebonus. My bonus is determined by my 'productivity' which is a big fat lie. Basically, my bonus is determined by my seniority, which is nil. So we'll just see how well I do there...
    5) Do you have to pay malpractice insurance out of
    pocket or is it covered if you work for a hospital?

    Covered by the group. So I don't see the cost, but it's there.

    6) What was your monthly student loan payment amount?

    About a grand.

    7) What is your typical week's work hours? How often
    are you on call? Is this above or below average for
    your particular field?

    Now I work 5 eight hour shifts a week, and then go in for meetings. It's above average - but peds EM is understaffed in general. But compared to residency, it's okay.

    8) How difficult or easy do you find it to have time
    to spend with your family, friends, or in whatever
    other way you find appealing? Do you plan to have
    kids, if none already; if so, do you think that being
    a doctor will impede on your family plans?

    Easy. I make time. It's a priority for me. And I don't have kids, but I plan to shortly. There is no good time to have kids if you're a doc, so you might as well have kids whenever.

    9) If you could have done something differently
    regarding finances in med school and beyond, what
    would you have done?

    Gotten my TX state license earlier. Other than that, nothing.

    10) Financially speaking, do you think med school is a
    good "return on investment."

    Hell no! There are much easier ways to make a living. At least for pediatrics, we do it for the love. Not the money. I could have made much more money with much less work much younger if I hadn't gone into medicine.
     

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