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Which joint degree has the most earning potential???

Discussion in 'Med Business [ MD/MBA, DO/MBA, DDS/MBA ]' started by PreMedPrincess, May 14, 2008.

  1. PreMedPrincess

    PreMedPrincess 2+ Year Member

    Dec 3, 2006
    JD/MD, MBA/MD, MD/PHD or MD/MA???

    I understand that people with MD/PHDs and MD/MAs usually go into teaching.

    However, what can you do with an JD/MD? or a MBA/MD?

    Lastly, how do these programs work? Would i have to take my lsat AND my mcats to get into a program like that? sorry im just really curious.

    thanks in advance
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  3. vtucci

    vtucci Attending in Emergency Medicine Moderator Emeritus 10+ Year Member

    Aug 6, 2003
    MD/JD will have the most earning potential particularly if you go into medical malpractice law and practice plantiff law (i.e., suing doctors) and do not practice medicine. Check out the American Trial Lawyers Association. This can potentially be multi-million dollar salaries. That being said you do not need an MD to go into med mal law.

    MD/JDs typically require both MCAT and LSAT but check with your program.

    The MD/JD combined program is usually 6 years in length with law school starting after your preclinical years and being 2 years of coursework and then returning to your clinical years to round out the curriculum.

    MD/MBAs often go into health care venture capital programs, biotech companies although the gleam is starting to wear off on alot of these ideas with the market being the way it is now.

    Just do what you love. $$ is often not as important as job satisfaction (although I will admit that it is a nice fringe benefit).
  4. PreMedPrincess

    PreMedPrincess 2+ Year Member

    Dec 3, 2006
    thanks vtuchi.

    those seem like super-depressing jobs. lol.

    what about becoming head of a department? like head of surgery for example...would you need a MD/MBA to do something like that?

    also, do department heads in medicine see huge income boosts or is that fallacy?
  5. PreMedPrincess

    PreMedPrincess 2+ Year Member

    Dec 3, 2006
  6. PharmDstudent

    PharmDstudent 7+ Year Member

    Jan 8, 2007
    MD/MHA perhaps.

    You would have to talk to a department head. I can't imagine a huge income boost though.
  7. TOMFighter

    TOMFighter 2+ Year Member

    Apr 30, 2008
    Don't worry about earning potential. Worry about making babies.
  8. PharmDstudent

    PharmDstudent 7+ Year Member

    Jan 8, 2007

    :rolleyes: Yeah right. Like that'll ever happen.
  9. ZagDoc

    ZagDoc Ears, Noses, and Throats 10+ Year Member

    Jul 12, 2007
    Joint degree is not required. I know plenty heads of department who are straight MDs. Biggest requirements for such a position are experience and respect and prestige within your field. MHA is a fairly easy degree to get later in life as well in comparison to some of the others.

    Department heads make a nice paycheck but I wouldn't call it a "huge income boost." More a "logical income step."
  10. Nappalachian


    Feb 17, 2008
    I don't think being head of a department is always associated with a boost in income. I know at my hospital back home in VA that the heads of departments, chief of staff, etc... don't make any extra money and are elected or volunteer for the job.
  11. njbmd

    njbmd Guest Moderator Emeritus 5+ Year Member

    May 30, 2001
    Gone Walkabout!
    Moving to Med Business as this topic is more suited to that forum.
  12. LADoc00

    LADoc00 There is no substitute for victory. 10+ Year Member

    Sep 9, 2004
    there is a difference between MAXIMUM income potential and MEAN income potential....A JD is always going to part of a maximal potential b/c of the ability to work in the high levels of global corporations but has a fairly low mean level.
  13. Faebinder

    Faebinder Slow Wave Smurf 10+ Year Member

    May 24, 2006
    Yup, one should look at the MEDIAN income level rather than the MEAN.
  14. IceMan0824

    IceMan0824 Holy crip, he's a crapple 5+ Year Member

    Dec 7, 2006
    All the jobs you mention here do not actually require the MD component. It might be icing on the cake (or in some cases totally useless) but you will be adding four years of opportunity cost when it is not needed.
  15. nontrdgsbuiucmd

    nontrdgsbuiucmd 2+ Year Member

    Mar 28, 2008
    my own little world
    Yep, agreed, two "highest paying" careers that I'm aware of are:

    1) investment banking, MBA alone required, Goldman is among the top firms, their partner bonus is around $7,000,000 per year, it'd take maybe 8-10 years to make partner there I believe. Starting Salary out of B-school, mid 100's, maybe higher now. May have to move to NYC and have NO LIFE for some time. (what dissuaded me was the feedback from my classmates on how many "overnighters" they worked in an average month. And the general consensus that one cannot be a successful I banker and have a good marriage due to the time demands, social demands, networking requirements, etc.

    2) entrepreneur/venture capital/hedge fund related. May have to move to Stamford, CT or Silicon Valley, takes time to get in the door. Again, MBA alone is what's required, in biotech, MD may help, I'd think PhD would be better, though. A position in which one receives a portion of the profit (equity) will far outweigh any "salaried" job, in corporate america or medicine.

    MD positions pay substantially less than either route, depending on what's most important to the person, may want to look into the two routes above.
  16. DrJosephKim

    DrJosephKim Advisor Physician SDN Advisor 7+ Year Member

    Mar 29, 2008
    I'll be happy to introduce people to Richard Lavely, MD, JD, MBA, MPH, MS, and a few other degrees.

    He has a very interesting background and could share a lot of insights about some of the MD/JD questions.

    Also, he's an MD/MBA and has extensive healthcare business experience. An entrepreneur and a very unique fellow.

    Send me a PM if you'd like me to introduce you to him.

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