Luckily for me I have been able to negotiate remote work in a much cheaper COL area, but did start off in Manhattan where it was hard to save a ton of cash (not to mention I developed all of the stereotypical finance issues with cocaine and high end escorts). I may not be a multi millionaire but I wouldn’t have to worry about student loans from med school if I chose that route.
And you are right about the number of MDs, but a lot of the reason is there is so much churn and people coming and going. I have zero doubts I can make MD when I’m in my 40s. Part of the reason I’ve been able to get into this industry is my (probably over-exaggerated) confidence, and not making MD isn’t an option for me. I’ve actually only been in finance for 5-6 or so years after another (albeit much more minor) career jump, so I’m doing alright. Originally started in tech and got hooked up in FinTech, which eventually got me more into the “Fin” part of “FinTech” where I’m not really doing anymore tech work.
Anyway I’m not trying to brag or come off as a douche because it is 10000x more honorable to be a doctor and help people, I’m just trying to give everyone a complete background. It’s just money and I recognize that my ceiling is a bit higher on Wall Street, but, at what cost? Every Sunday I dread starting work on Monday because I’m certain the jig is going to be up because they’re gonna find out I’m just peddling powerpoints and can talk well in front of executives. Luckily my position at the firm is that of a “subject matter expert,” so maybe I’ll get placed on a call here and there to justify to regulators the firms stance on some risk were accepting in one of our Asian (or European or whatever) offices. It’s nice making decisions that reverberate throughout the firm, but it just seems like I’m about 400k/yr overpaid, and it’s only going up each year. I’ve also become one of the guys that dishes off a ton of my crappier work to the new hire grads like in the movies and clock out at noon, which is a whole other thing morally for me.
I guess I need to quit whining and man up.