Where did this come from?

zmkelchn · Mar 1, 2010

I'm interested in Pod for its flexibility, surgical aspect, and the ability to start up a private practice, join a existing group, or work in a hospital setting. I also am very active, and enjoy running, road biking and skiing. I also like the fact that podiatry has a good amount of financial security, and while it is not a career to make millions, it is one that allows individuals to have a life while living comfortable. The average salary I have been seeing has ranged from 110k-175k, depending on the site. However, OCPM states that 18% of pods report making over $500,000 per year! Is this correct? It seems very high. Either way, I would be happy making anything 100k and doing something love, anything above that is just bonus. Here it is:

The median net income for a podiatrist was reportedly $113,000 in 2004. 18% of respondents reported an annual income greater than $500,000.

http://www.ocpm.edu/?page=admission-faq

Popat Lal · Mar 1, 2010

What you're seeing my friend is CORRECT information. A huge part of podiatry is running a small business...it's the business sense that really makes you the dough....Coming from a podiatrist I shadowed. She make $180,000 the year after graduating, working with a group practice. The nex year she made $240, 000....but now, she is a partner in the group, and part of the business. And she said she made $500,000 last year and is expecting a lil' above $600,000 this year....

Dont let official stats disappoint you. OFFICIALLY, the average income of a C.E.O. of a fortune 500 company is around $120,000...but in reality, most of these CEOs have even their own airplane

So the lesson for podiatry is: although you will definitely make a decent living working for somebody (be it hospital or group practice), the real money is in owning a small business !!!!!!!

215353 · Mar 1, 2010

Another *ucking thread on potential salaries!?! Does anybody read the posts or use the search function around here?

zmkelchn · Mar 1, 2010

Wow, thanks, thats interesting. (Sorry, I did do a search; I just found that and thought it was interesting.) Pod is a great career that not many know about. The only way I found out about it was from a lecture presented at our school on restoring nerve function in diabetic patients given by a podiatrist. I emailed him after the lecture, and he let me in his office to shadow him and to watch a few surgical procedures. Like you mentioned, its all about how you sell yourself. This podiatrist said he has a wife, three kids, and plans on retiring (by retiring I mean working 1-2 days a week) by the time he is 52. I think that it's great there is such a rewarding field in medicine that allows you to have a great lifestyle in addition to your career. Plus, it allows you to incorporate derm, surgical aspects, wound care, etc. etc. all in one specialty.

-Are you planning on going to pod school or in pod school now?

Popat Lal · Mar 3, 2010

studywithfury said:
Another *ucking thread on potential salaries!?! Does anybody read the posts or use the search function around here?

Kiss my *****

Sig Savant · Mar 4, 2010

1. I can't think of any 5 letter words ending the phrase "Kiss my.."
2. studywithfury has a temper.

air bud · Mar 4, 2010

grits?

Sig Savant · Mar 4, 2010

more old fashioned than my style. thankfully urban dictionary helped me out there.

215353 · Mar 5, 2010

No temper here friends I am only stating what everyone else is thinking. Its disheartening to read potential salary thread after potential salary thread in the pre-pod forum. I am pre-pod, others are pre-pods, some students are 1st years...the fact is we don't know what the hell we are talking about when it comes to potential job opportunities and pay...this is a fact. Everyone is spewing what they have heard & read from other students, SDN, doctors they have shadowed or profs/DPMs who teach them at their schools.

We won't know for sure until we reach our residency training years and begin to realize what opportunities are available for the particular skills we have (be it surgery, diabetic wound care, sports medicine, etc).

All this talk about money makes it a certainty that potential applicants are trying to convince themselves that podiatry is a good choice because there is "potential" to make good money. I don't know why people can't see this or read these underlying messages whenever there is a new salary thread generated. That's why I came off so harsh. Use the search function and search through all the BS on SDN to form your own decisions and not be swayed by the first thing you see or read about incomes in podiatry.

PADPM · Mar 5, 2010

Reality check here. The FACTS remain that despite the "theory" that if you own a "small" business, you are now a "business owner" and will now become very wealthy, that's not how it usually plays out in podiatry. Statistics show the opposite. Those in solo practice make less than those in group practice. Period.

And if you know anything about healthcare, the days of the solo practice are becoming scarce. With decreasing reimbursements and increasing overhead, the way to survive is group practice, not solo practice.

Forget about the few exceptions, I'm talking about the RULE, not the exception. I'm also speaking from significant experience and as a member of an extremely large, successful practice.

This is not a great economy, insurance companies are making significant cuts, patients are canceling appointments because they can't afford their $45 or $50 co-pays every visit, there is greater competition from other professionals crossing over into our field, etc. So worry about your studies and be assured that you will eventually make a better than average income, but I know of very few DPM's actually making half a million dollars a year, and I know a LOT of successful practices.

Yes, there are DPM's making half a million and more, including some in our practice, but that again is the exception, not the rule. And it's getting tougher, not easier.

Talk is cheap, seeing income tax returns is a whole different story.

Shireiqiang · Mar 5, 2010

I can see your frustration studywith. Why can't people just use the search function and read the thousands of posts on podiatry income?

215353 · Mar 5, 2010

These are all the threads I came up with just using the word "income" in the search box for the pre-pod forum. I am sure there would be 30 more threads if I searched the word "salary" as well.

Where did this come from?

zmkelchn

patagomate

Popat Lal

Full Member

215353

zmkelchn

patagomate

Popat Lal

Full Member

Sig Savant

Full Member

air bud

I am a dog and play basketball. Coming back in 26

Sig Savant

Full Member

215353

PADPM

Membership Revoked

Shireiqiang

Full Member

215353

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