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The Top 1% of doctors in 2007 earned 2 million dollars

Discussion in 'Pre-Medical - MD' started by theslave, Dec 25, 2008.

  1. theslave

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    I just watched a show on MSNBC and I left amazed at how much money some people make. The top 400 income earners in 2007 had an average income of 214 million dollars. Most of these people are hedge fund managers (not signers, athletes, Presidents and/or CEO's of major companies).

    I learned that the top 1% of doctors earned just a little $2 million dollars.

    I'm just amazed at the separation of the SUPER rich from the middle class millionaires to the rest of us poor people. Some of the richest people spend more money getting a SINGLE tire fixed than we make in 1 year of full-time income as nurses.
     
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  3. Chemdude

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    Yeah, but a lot of doctors come from rich families/have a second source of income.
     
  4. theslave

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    Yeah.

    Just so everyone knows, I'm not complaining about doctor salaries or anything like that. I just thought it was an interesting show and I wanted to post the topic here.
     
  5. FrickenhugeMD

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    Yeah, but how much did the bottom 1% of doctors earn? That is just a statistically relevant as what you posted, and I'm curious as to what that would be
     
  6. theslave

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    Good question. I would assume around the $100,000 area.
     
  7. Nomdeplume

    Nomdeplume (nom nom nom)
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    Very true. Consider physicians who may also work as clinical / medical school professors, plus perhaps department leadership positions, advising positions and, in some cases, investments.

    I'm curious about the bottom 1%, as well. I would put out an entirely uneducated guess around $50,000 -- a combination between practicing physicians who are working a lot for charity and physicians who own small or relatively new practices in lower paying specialties.
     
  8. link2swim06

    Physician 10+ Year Member

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    I would assume that the bottom 1% of doctors volunteer overseas and have no income. (well at least from being a doctor)
     
  9. phospho

    phospho SDN Lifetime Donor
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    :laugh:

    doubtful
     
  10. dec0y

    dec0y Junior Member
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    :lol:

    thats about 100,000 too much.
     
  11. MrBurns10

    MrBurns10 Excellent, Smithers
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    ehh, if you're talking full-time civilian doctors, then I think that number approaches $100K (probably more like 85k).
     
  12. Decicco

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    2 million is not that much. It becomes 1 million after taxes, and I bet many of these people aren't practicing physicians anyway. They probably worked in research/investments/consulting.
     
  13. Lukkie

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    we need wealth redistribution in america
     
    doc-oc! likes this.
  14. ejay286

    ejay286 Member
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    I'd say this is a little misleading, you're comparing the top 400 earners in the whole country to the top 1% of a single profession.Thats very lucky individuals compared to probably around 7000 physicians. There are very few professions, in any, that could compete with that.
     
  15. liverfingers

    liverfingers holla back girl
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    I concur comrade!
     
  16. Jacobian78

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    Are you saying there's only 7000 practicing physicians in America? Maybe I'm misreading, but that seems like a pretty lowball estimate.
     
  17. Jacobian78

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    From each according to his ability, to each according to his need. My wallet is your wallet brother.
     
  18. theslave

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    The show mentioned that there are 2 million millionaires in American.

    Get this, out of the people that I mentioned in my first post, they currently have 7 trillion dollars of money left over if they were to pass away in the next 5 years.
     
  19. ejay286

    ejay286 Member
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    No I was saying there are 700,000. 700k * .01 = 7000
     
  20. Jacobian78

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    Ohhh haha my bad, I see what you're saying now. I thought by "lucky individuals" you were referring to the doctors who were making 2 mill, and the "7000" was the entire sample size. I was confused as to why you thought there were only 140 physicians in each state :laugh:
     
  21. ejay286

    ejay286 Member
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    Speaking of all this wealth, I came across this very interesting article profiling the millionaires of the United States.

    http://www.washingtonpost.com/wp-srv/style/longterm/books/chap1/millionairenextdoor.htm

    Here's and interesting statistic:
    I'd expect those numbers, considering there are many more people with masters than any other degree,and more with law degrees than medical degrees.
     

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