Thoughts on reconsidering medicine as a career

[avatarcycle]

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I have had 11 interview invites this cycle (no longer planning on going to them all) and am sitting on 4 acceptances to US MD schools. One of them is a state school, so in-state tuition will be just shy of $40k per year. However, after speaking with several practicing physicians (some older and some having just finished residency), I'm having second thoughts about medicine as a career. I have always wanted to be a doctor since middle school because the natural sciences came naturally to me, but the real and primary motivation has been the money. Simply put, there are few professions which offer essentially complete job security and a floor salary of $160,000 a year (what BigLaw attorneys start off at) as long as you're willing to work 40 hours a week.

To the best of my knowledge, the opportunity costs of a career in medicine are 4 years in medical school of which I'll be paying $60k a year once living expenses are factored in, 3-7 years of making essentially minimum wage, and lost time from the prime of my life. The benefits are the job security and high salary (when tabulating averages, physicians come out on top of every profession). I suppose we can factor the prestige in too, but that's relatively insignificant to me.

The question I'm wondering is, should I give up my career in medicine to pursue a career in finance? I went to a top 25 undergrad but with a biology major. However, my GPA is solid (I do have my choice of medical schools, after all). I understand that first-year Analysts on Wall Street make a base salary of $85k, with potentially a $55k bonus depending on performance. I know of Managing Directors (the "MD's" of the finance world) who pull in $2 million a year. Private equity employees also make in the low seven figures, as do hedge fund employees.

 

[ConfusedChemist]

Do whatever will make you happiest when you go to work everyday for the next 40 years. What do you want to be doing? What environment would you prefer? Medicine and finance are very different realities for the people in those professions, it seems you're a little naive in terms of work experience of you'd know this, but it's whatever you could handle doing every day, day in day out, and be happy

 

[amazing tekkers]

I wish I was in your situation.

 

[amazing tekkers]

This IB analyst I spoke to who worked at a top firm averaged 80 hours a week his first year. He made pretty good money, but factor in the cost of living in New York. Assuming 52 weeks in a year, so 4160 hours, that leads to around ~$33.65 per hour given a 1st year total comp of $140,000.

 

[Tenk]

Medicine is awesome if you find a specialty you love. I love my job and I make more than double the number you quoted. Life is good.

Don't go into medicine for money alone though. If you do, you'll find yourself alone in a sea of endless patient despair and hatred. Nasty place.

Just make the decision your heart tells you and never look back. Good luck.

 

[ZPakEffect]

If you're in it for the money, I don't think it is worth it.

 

[Dr Tony T. Chopper]

I have had 11 interview invites this cycle (no longer planning on going to them all) and am sitting on 4 acceptances to US MD schools. One of them is a state school, so in-state tuition will be just shy of $40k per year. However, after speaking with several practicing physicians (some older and some having just finished residency), I'm having second thoughts about medicine as a career. I have always wanted to be a doctor since middle school because the natural sciences came naturally to me, but the real and primary motivation has been the money. Simply put, there are few professions which offer essentially complete job security and a floor salary of $160,000 a year (what BigLaw attorneys start off at) as long as you're willing to work 40 hours a week.

To the best of my knowledge, the opportunity costs of a career in medicine are 4 years in medical school of which I'll be paying $60k a year once living expenses are factored in, 3-7 years of making essentially minimum wage, and lost time from the prime of my life. The benefits are the job security and high salary (when tabulating averages, physicians come out on top of every profession). I suppose we can factor the prestige in too, but that's relatively insignificant to me.

The question I'm wondering is, should I give up my career in medicine to pursue a career in finance? I went to a top 25 undergrad but with a biology major. However, my GPA is solid (I do have my choice of medical schools, after all). I understand that first-year Analysts on Wall Street make a base salary of $85k, with potentially a $55k bonus depending on performance. I know of Managing Directors (the "MD's" of the finance world) who pull in $2 million a year. Private equity employees also make in the low seven figures, as do hedge fund employees.

Seems like you should have thought this through before you dove into this cycle, no? What will tip the scale for most med students against opportunity costs is the satisfaction of practicing. If you were true to yourself, do you feel the passion? Will you look past this as a get-rich-quick gig?

 

[pageantry]

I know quite a few ex-Wall st people who switched to medicine. The biggest issue they cite is a lack of meaning in their previous careers. Would suggest asking yourself to what extent having a meaningful (serving others, working with people) career is important to you.

 

[futuremdforme]

A few other factors to consider:
- Are you okay living in large financial centers for the rest of your life? Medicine lets you choose specialties that let you live anywhere.
- Do you have any idea of whether you'd be any good at financial analysis? Have you asked about the possibility of this job for yourself?
- Why didn't you consider these options before?

You're obviously a smart kid. Most smart people can do many jobs, and do all of those jobs well. I would get heavy into the research before you turn down those acceptances.

 

[Conflagration]

There is inherent risk in leaving this cycle without matriculating. If it's been seen that you've refused to take acceptances- should you choose to apply again, you will have a much harder time getting a seat.

Did you do all of the activities and pre-reqs for the money? Did any of them speak to you? What fascinates you?

The money in medicine is consistent, but how long can you stand people? Patients require a different kind of energy. Burnout is a very real phenomenon.

This is entirely above my pay grade, but I think this is an option- you might be able to get the MD, and choose not to go into residency. You could consult with lawyers who focus on medical malpractice or even help patent lawyers with understanding new medical inventions. Of course, other people would know better than me with regards to how that would be handled, and if that's an option for you. (Those might require residency, but there are non-clinic options for you.)

Good luck, OP.

 

[avatarcycle]

I did many non-medical extracurricular activities because I genuinely enjoyed them and got a lot out of them, but the clinical experiences (shadowing, volunteering at hospital) were a grind. What fascinates me is financial success and a fulfilling life. Sometimes I consider whether teaching high school as a backup to finance would be preferable because of the job security and pension that comes without the opportunity cost and long hours of medical training.

 

[pageantry]

Teaching high school has a major burn out factor and job security is dwindling. If medicine or teaching call, then your interests are 2/3rds service (and 1/3 finance/money.) I don't know you but, as a guess, I'm pretty sure you're not going to be happy with yourself in finance and will regret walking away from your acceptances.

 

[HybridEarth]

Residency = essentially minimum wage? Lol. If you are making a salary of 55k a year, you're hovering near the 90th percentile of all income nationwide. Think about that for a second before you regret your decision. Also, there are doctors that I know of making well north of a million per year. Don't let finances cloud your decision making... You'll be fine

 

[Lannister]

If your goal is to get rich, that's fine, but medicine is not going to make you rich. Go into finance, from what you've posted here, it seems like you'd be happier in that career.

 

[Lannister]

Residency = essentially minimum wage? Lol. If you are making a salary of 55k a year, you're hovering near the 90th percentile of all income nationwide. Think about that for a second before you regret your decision. Also, there are doctors that I know of making well north of a million per year. Don't let finances cloud your decision making... You'll be fine

55k a year is close to 90th percentile for an individual, but if you're supporting a family on that salary alone, it's around 40th percentile.

 

[avatarcycle]

Residency comes close to minimum wage once you factor in the number of hours worked. And residency in some places such as the Midwest with the exception of the Chicago metropolitan area is closer to $40k.

 

[HybridEarth]

In terms of $/hour you're probably right, but if we're talking households here, keep in mind your significant other (probably) has a salary. I live in the Chicagolandish area, most residencies around here are 50k with an increasing salary per year, unless 2015 is a different year

 

[thatwouldbeanarchy]

If it were me, I don't think that money alone would get me through medical school (which is challenging even for stellar applicants), residency, decades of debt, and then the paperwork, bureaucracy, and thanklessness of medicine. Being a doctor is definitely perceived as an elite and prestigious career but it's also a tremendous amount of responsibility and a commitment to lifelong learning that goes well beyond the MCAT and the Step exams.

What fascinates me is financial success and a fulfilling life

I guess it depends on how you define fulfillment. Will money alone fulfill you? If so, I'd go with finance.

 

[muzzy44]

Were any of the MANY things you had to do in order to qualify for med school acceptace (the courses, the MCAT, the countless hours of ECs, the essays) challenging for you? I personally had a rough time in one of my science courses and I struggled with the MCAT -- when I felt like crap (super stressed and overwhelmed by the process) but STILL knew I wanted to be a doctor and that the hard times would be worth it, I knew that this career path was the right one. Have you ever felt this way?

 

[avatarcycle]

I found the MCAT to be surprisingly easy, but did struggle with orgo as an undergrad. I've also looked at some anatomy and have found that to be challenging as well. The ECs I did find enjoyable, but they were not related to medicine for the most part.

 

[Conflagration]

Do you like teaching, OP? You mentioned it as a Plan C, but do you like working with kids?

Kids can be blessings and banes in cute, filthy bonbons. Particularly K-5. You could not give me enough gin to handle 30+ of them at once.

Teachers face bureaucracy too- IEPs, PTA requirements, Common Core standards if that's what your district teaches, and other things too. Unions are a hot-button issue, and right-to-work states tend to pay less and can fire at-will.

There are issues in every profession, but what issues can you handle and still enjoy the work? That's what I'd think about if I were you.

 

[Promethean]

If you are only going into medicine for the money, please don't.

Please, don't.

You will be sacrificing several of the best years of your life to train to do something that you don't love, under conditions that often break down those with more robust and multifaceted motivations, in order to eventually earn a nice upper middle class income.

If you are bright and motivated, you can kill it in finance. Or anything else that makes you happy.

At the very least, consider taking time to explore another option. You have acceptances? See if you can arrange to defer one and spend the year trying to break into finance. Maybe you will find out that you were just having last minute jitters, and there is more to your desire to be a physician. If so, it will be there for you to fall back on.

The worst thing to do would be to forge forward, taking on debt and getting yourself deeper into a path you don't want to go down.

 

[avatarcycle]

I often tutor high school students in physics and biology, and enjoy teaching the subjects. I've also worked at a summer camp for kids and really enjoyed that, although the financial compensation wasn't desirable. If I teach, I believe I'd have to do so at a wealthy suburban public school district for me to enjoy it (I'd prefer my students to actually want to learn and not cause too much trouble, and situations such as gangs/food insecurity would complicate things). Teaching at a private school would bring professional fulfillment, but not financial fulfillment. If it's possible for me to break into private equity or a hedge fund after banking, that would be incredible. But very few make it that far in finance.

 

[Conflagration]

I often tutor high school students in physics and biology, and enjoy teaching the subjects. I've also worked at a summer camp for kids and really enjoyed that, although the financial compensation wasn't desirable. If I teach, I believe I'd have to do so at a wealthy suburban public school district for me to enjoy it (I'd prefer my students to actually want to learn and not cause too much trouble, and situations such as gangs/food insecurity would complicate things). Teaching at a private school would bring professional fulfillment, but not financial fulfillment. If it's possible for me to break into private equity or a hedge fund after banking, that would be incredible. But very few make it that far in finance.

Well, let me ask you- what amount of money are you looking for?

Engineering is an option. They make solid money and they would utilize your previous course work if you have your pre-reqs done.
Nursing makes decent money without dealing with the overhead from an office. You make your money, help people, and go home. You also have less liability.
IT is consistent pay if you can get the right skills. If you're willing to be a grunt and you're a quick learner, you'd be making some respectable money.
Dentistry and Podiatry are fields that require less training time overall, if that's your primary concern; dentists (and podiatrists to some extent) can also handle their businesses, if you think business-oriented would draw you.
If the loans are a concern for you, and you're willing, there are some repayment programs with the military. It's definitely a commitment, but pretty much any health occupation can get some funding assistance as long as there's a quid pro quo for the years you used their support.
If you have a marketable skill or a hobby, you could run a business. Incredibly risky, but it could have some solid earning potential.

Those are the options I can think of, OP.

 

[Lannister]

Medicine, engineering, nursing, IT, dentistry, etc...those will all make you financially comfortable. But they won't make you "rich". If OP wants to be "rich", like Top 1% rich, business is really the only logical option.

 

[avatarcycle]

Ideally I'd like to make $500k a year, but anything over $250k would be great.

 

[thatwouldbeanarchy]

If I teach, I believe I'd have to do so at a wealthy suburban public school district for me to enjoy it (I'd prefer my students to actually want to learn and not cause too much trouble, and situations such as gangs/food insecurity would complicate things).

Okay, so it sounds like working with the underserved isn't your thing. How do you feel about sick people in general? Could you see yourself being surrounded by them and their inherent messiness/complexity day in and day out?

Obviously, not all doctors work with the poor and underserved. And there are fields that have less of a focus on interaction with patients (radiology, pathology, or primarily working in research). But you won't always be able to avoid these things in your training years. Especially now that many medical schools are focusing more on the social aspects of health and wellness and the fact that social inequality is a huge contributor to poor health outcomes. Just something to think about.

 

[Conflagration]

Ideally I'd like to make $500k a year, but anything over $250k would be great.

Not that it's any of my business, but why? Have you always been around money (or, inversely, have you been in scarcity and want to ensure it doesn't happen again)?

I mean, it's your life and all. I'm just trying to see if this is more of a "I need that money to live" or a "I feel like I need that money for stability", which the latter would explain why medicine and teaching draw you.

 

[Goro]

I'll save you the time; find another career.

The wise @Law2Doc has written eloquently on this subject.

Try "working 60 hrs per week and more in residency."

I have had 11 interview invites this cycle (no longer planning on going to them all) and am sitting on 4 acceptances to US MD schools. One of them is a state school, so in-state tuition will be just shy of $40k per year. However, after speaking with several practicing physicians (some older and some having just finished residency), I'm having second thoughts about medicine as a career. I have always wanted to be a doctor since middle school because the natural sciences came naturally to me, but the real and primary motivation has been the money. Simply put, there are few professions which offer essentially complete job security and a floor salary of $160,000 a year (what BigLaw attorneys start off at) as long as you're willing to work 40 hours a week.

To the best of my knowledge, the opportunity costs of a career in medicine are 4 years in medical school of which I'll be paying $60k a year once living expenses are factored in, 3-7 years of making essentially minimum wage, and lost time from the prime of my life. The benefits are the job security and high salary (when tabulating averages, physicians come out on top of every profession). I suppose we can factor the prestige in too, but that's relatively insignificant to me.

The question I'm wondering is, should I give up my career in medicine to pursue a career in finance? I went to a top 25 undergrad but with a biology major. However, my GPA is solid (I do have my choice of medical schools, after all). I understand that first-year Analysts on Wall Street make a base salary of $85k, with potentially a $55k bonus depending on performance. I know of Managing Directors (the "MD's" of the finance world) who pull in $2 million a year. Private equity employees also make in the low seven figures, as do hedge fund employees.

 

[piii]

"Hey I have this question to ask SDN (btw its irrelevant but I went to a top 25 undergrad and have 11 interviews and 4 acceptances)"

http://forums.studentdoctor.net/thr...irrelevant-to-the-questions-they-ask.1158874/

For someone with so much financial incentive, it was a poor decision to blow thousands on apps and interviews before having these necessary conversations with physicians..

 

[Lannister]

"Hey I have this question to ask SDN (btw its irrelevant but I went to a top 25 undergrad and have 11 interviews and 4 acceptances)"

http://forums.studentdoctor.net/thr...irrelevant-to-the-questions-they-ask.1158874/

For someone with so much financial incentive, it was a poor decision to blow thousands on apps and interviews before having these necessary conversations with physicians..

I don't disagree, but maybe the reason OP wants a high salary is because his parents (who paid for his apps, presumably) are wealthy and he wants to be able to continue the lifestyle he had during his childhood in adulthood. Spending the money on applications is not a big deal when you've got plenty of money at your disposal.

 

[trickydick]

Medicine, engineering, nursing, IT, dentistry, etc...those will all make you financially comfortable. But they won't make you "rich". If OP wants to be "rich", like Top 1% rich, business is really the only logical option.

Top 1% is around 500k a year. Medicine probably gets the highest percentage of people that go into field to that mark. So if that's the goal, medicine might not be a bad idea. Well except for being miserable with what you do everyday.

 

[The Knife & Gun Club]

I have had 11 interview invites this cycle (no longer planning on going to them all) and am sitting on 4 acceptances to US MD schools. One of them is a state school, so in-state tuition will be just shy of $40k per year. However, after speaking with several practicing physicians (some older and some having just finished residency), I'm having second thoughts about medicine as a career. I have always wanted to be a doctor since middle school because the natural sciences came naturally to me, but the real and primary motivation has been the money. Simply put, there are few professions which offer essentially complete job security and a floor salary of $160,000 a year (what BigLaw attorneys start off at) as long as you're willing to work 40 hours a week.

To the best of my knowledge, the opportunity costs of a career in medicine are 4 years in medical school of which I'll be paying $60k a year once living expenses are factored in, 3-7 years of making essentially minimum wage, and lost time from the prime of my life. The benefits are the job security and high salary (when tabulating averages, physicians come out on top of every profession). I suppose we can factor the prestige in too, but that's relatively insignificant to me.

The question I'm wondering is, should I give up my career in medicine to pursue a career in finance? I went to a top 25 undergrad but with a biology major. However, my GPA is solid (I do have my choice of medical schools, after all). I understand that first-year Analysts on Wall Street make a base salary of $85k, with potentially a $55k bonus depending on performance. I know of Managing Directors (the "MD's" of the finance world) who pull in $2 million a year. Private equity employees also make in the low seven figures, as do hedge fund employees.

The vast majority of physicians don't work 40 hours a week, closer to 50-60 is my understanding.

And Managing Directors do not pull in 2M a year or 40 hours either. My understanding is MD will get close to 1M a year, but you're working 70-80 hours a week crunching numbers well into your 30s. Who cares if you make big money if you literally dont have time to spend it?

 

[Lannister]

Top 1% is around 500k a year. Medicine probably gets the highest percentage of people that go into field to that mark. So if that's the goal, medicine might not be a bad idea. Well except for being miserable with what you do everyday.

That's probably true, but I would think that the vast majority of the 1% made their money through finance.

 

[Conflagration]

Top 1% is around 500k a year. Medicine probably gets the highest percentage of people that go into field to that mark. So if that's the goal, medicine might not be a bad idea. Well except for being miserable with what you do everyday.

But, if him having the money is what fulfills the OP, then it might be worth it to them. As long as they prove to be competent doctors with basic social ability, he could be fine.

I just don't know if money will be a satisfactory incentive when he's grinding as a resident for a tenth of his desired pay.

 

[Dizziness and Giddiness]

The one piece of advice every physician I have shadowed and scribed for has told me is something to this effect: "If you are motivated primarily by money, medicine is not for you."

The more earthy motivational perspective, by my admittedly limited purview, is one born of personal sacrifice leading to a profound sense of accomplishment by lending service to others.

I'll echo the great Jim Carrey in saying that I wish everyone could achieve their wealth/fame dreams. So that they could recognize that aspect of their lives is not what is going to give them their sense of completion.

 

[DokterMom]

I did many non-medical extracurricular activities because I genuinely enjoyed them and got a lot out of them, but the clinical experiences (shadowing, volunteering at hospital) were a grind. What fascinates me is financial success and a fulfilling life. Sometimes I consider whether teaching high school as a backup to finance would be preferable because of the job security and pension that comes without the opportunity cost and long hours of medical training.

The vast majority of physicians don't work 40 hours a week, closer to 50-60 is my understanding.

And Managing Directors do not pull in 2M a year or 40 hours either. My understanding is MD will get close to 1M a year, but you're working 70-80 hours a week crunching numbers well into your 30s. Who cares if you make big money if you literally dont have time to spend it?

IB / Finance can be a soul-crushing way to make money. Yeah, a smart analyst can make good money, but intelligence alone is not enough to get to the top of that heap. To make the really big bucks, you need to be a Shark. Flexible ethics, not overly concerned with morals or other people's best interests, always hungry, always circling. Long hours and brutal competition. High stakes, high risk, low forgiveness and compassion. Sure, the money's there, but the cost is very, very real.

 

[LizzyM]

"Hey I have this question to ask SDN (btw its irrelevant but I went to a top 25 undergrad and have 11 interviews and 4 acceptances)"

http://forums.studentdoctor.net/thr...irrelevant-to-the-questions-they-ask.1158874/

For someone with so much financial incentive, it was a poor decision to blow thousands on apps and interviews before having these necessary conversations with physicians..

For some folks, the bragging rights are most important. "I was good enough to get in but smart enough not to go." Perhaps OP has accomplished what he set out to do and can now go in peace and make a heap of money and laugh at the poor suckers who are paying off their loans and dealing with ungrateful and non-compliant patients who complain about everything and make life hell for their providers.

 

[pageantry]

Also, the thing about being in finance is: to a huge number of people, you will be seen as a loathsome leech on humanity. If you like women, you will find it difficult to trust that a woman wants you for anything other than your earning power (because your work life will mean you offer little else.) This is a somewhat understandable attitude but one which nevertheless tends to ruin young finance guys. Your interpersonal relationships tend to become exercises in cynicism.

I'm not saying this to insult you. I've worked with a lot of these guys. Self-loathing is hard to duck in finance.

 

[Conflagration]

For some folks, the bragging rights are most important. "I was good enough to get in but smart enough not to go." Perhaps OP has accomplished what he set out to do and can now go in peace and make a heap of money and laugh at the poor suckers who are paying off their loans and dealing with ungrateful and non-compliant patients who complain about everything and make life hell for their providers.

Well, there's no job with all positives. Yes, medicine is a brand of pure hell, but so is law and finance. They're just different tortures- they don't pay you because it's fun and filled with puppies and rainbows.

Big bucks are a direct payment for the big bullsh*t you'll have to deal with. Even in jobs that make less money, there are still very profound cons in all of them. That's why they're jobs.

OP, if such a field existed where you could feasibly make half a million dollars a year with forty hours a week, don't you think that people would flock to it? I mean, oil refining and engineering is pretty much all I can think of for in-demand money. They make good money, but not 500k.

 

[allantois]

You could go into a well-paying specialty.

 

[avatarcycle]

For some folks, the bragging rights are most important. "I was good enough to get in but smart enough not to go." Perhaps OP has accomplished what he set out to do and can now go in peace and make a heap of money and laugh at the poor suckers who are paying off their loans and dealing with ungrateful and non-compliant patients who complain about everything and make life hell for their providers.

Well, that's not me. If medical school was free or paid a resident's salary, I'd go for sure.

 

[Conflagration]

Well, that's not me. If medical school was free or paid a resident's salary, I'd go for sure.

The military would give you 120k for medical school. You'd have to serve as a military doctor for four years, but it could be done.

I believe if you are willing to work in Native American reservations and other areas of demand, the government would be willing to subsidize your loans.

Just something to consider.

 

[thatwouldbeanarchy]

If medical school was free or paid a resident's salary, I'd go for sure.

So what you're saying is that you would be more inclined to go to medical school if you were paid to attend...

Honestly, OP, I think you know what to do. It doesn't sound like medicine is for you. The good news is you figured this out before you wasted any more time and money. Go find out what interests you! (Or at least find an easier way to make money.)

 

[ConfusedChemist]

Ideally I'd like to make $500k a year, but anything over $250k would be great.

Lol. Dont go into medicine then

 

[HybridEarth]

Lol. Dont go into medicine then

Just curious, are you saying that because those salaries are seemingly rare? If so, I respectfully disagree. If not, +1 that OP should not go into medicine for the money

 

[doapplicant2015]

The question I'm wondering is, should I give up my career in medicine to pursue a career in finance? I went to a top 25 undergrad but with a biology major. However, my GPA is solid (I do have my choice of medical schools, after all). I understand that first-year Analysts on Wall Street make a base salary of $85k, with potentially a $55k bonus depending on performance. I know of Managing Directors (the "MD's" of the finance world) who pull in $2 million a year. Private equity employees also make in the low seven figures, as do hedge fund employees.

I have not read any of this thread so forgive me, but if this is what you think you are going to hop into then you're in for a big surprise

Edit:

Residency comes close to minimum wage once you factor in the number of hours worked. And residency in some places such as the Midwest with the exception of the Chicago metropolitan area is closer to $40k.

You will be working more hours than a resident as an analyst on wallstreet

 

[ConfusedChemist]

Just curious, are you saying that because those salaries are seemingly rare? If so, I respectfully disagree. If not, +1 that OP should not go into medicine for the money

Nope, they clearly are only looking for money, which is basically expected in business but not going to get them through 80 hr week as a resident earning 60K for 2-7 years
Which is fine if they want money-lots of people do. But medicine isn't exactly the quick and easy way to get there, and they're going to be pretty unhappy I'm guessing for the 10ish years they have to train to get there

 

[KO_TV]

My former roommate was a finance major and relatively successful. He became an investment banker and earned a starting salary of just over 100k a year after receiving his Bachelor's. Another thing to make note of is that investment bankers can make up to 7 figures after only working 6 years (I think this is with an MBA and experience. Whichever bank you work for usually pays for your MBA and gives you a salary on top of that). He ended up quitting because he hated the job, despite the high salary and lucrative prospects. I don't think money will make you happy and you should just do what you love. If that's medicine, go for it, but if you're genuinely passionate about finance, it's far more profitable than medicine.

 

[TBV]

Residency = essentially minimum wage? Lol. If you are making a salary of 55k a year, you're hovering near the 90th percentile of all income nationwide. Think about that for a second before you regret your decision. Also, there are doctors that I know of making well north of a million per year. Don't let finances cloud your decision making... You'll be fine

You have to do it per hour. You're operating under the assumption that you would work 40 hours per week or some ****. You will likely be making under the 15 an hour that the fry cooks want as a resident.