Why are people so lusting over super competitive residencies?

[cabinbuilder]

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100k? Nah. These programs pay you normal doctor salaries. And you don't have to worry about your student loans because they pay them off for you. See "National Health Service Corps|Public Heath Service" forum or Google for more details.
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I did all the research I wanted a long time ago. It just didn't appeal to me, neither did living where I didn't have a choice to go to and being under the government's thumb. Just a worse jail sentence to me. I'm too much of a free spirit.

 

[cabinbuilder]

No worries! I think it's just creating your own thread here regarding what you did in order to pay off your debt in three years. If enough users think it's very useful then SDN admin will "sticky" it so it stays at the top as a useful thread.

Well, what I am doing is working 60-70 week guaranteed and paying 5K a week on major debts every week. Plain and simple. Not accruing any new debt as I go.

 

[rodmichael82]

I love how no one here even mentioned Ortho lol

 

[rodmichael82]

100k? Nah. These programs pay you normal doctor salaries. And you don't have to worry about your student loans because they pay them off for you. See "National Health Service Corps|Public Heath Service" forum or Google for more details.


I did my calculations: Even if I work as a PCP for $200k while owing $320k in debt, I'll be able to pay it off in 10 years standard repayment plan and still have $100k+ left per year to live on.

Orrrrrrr you could live like a resident for 2 years and pay everything off?

Plus I agree with cabin, hell with living in a random ass place in the middle of detroit for X amount of years just to pay off a couple hundred grand under the governments thumb. I will absolutely say that such a life sounds like a prison sentence.

 

[cabinbuilder]

I love how no one here even mentioned Ortho lol

Cuz, ortho is boring. I do plenty in urgent care.

 

[W19]

There is really no good number of income that satisfy any of us. We always want more and more money. It is like bilionares like Trump still wants to make more money. In a way, ppl will want to make the most of their career, regardless of how high their starting point. A family doctor makes 200k is still never enough since the neurosurgeon makes 800k. Thus ppl will always compete for top residency to get more $$$; there is really no shame in that really.

They make that much!

 

[cabinbuilder]

They make that much!

No, they don't. See my post a few screens up. More like 350-400K

 

[MetricSystem]

Kobe Bryant gets paid $23.5 million for shooting basketballs 9 months of the year...

 

[W19]

No, they don't. See my post a few screens up. More like 350-400K

Just checked AAMC 'careers in medicine' and the figure is 710k... The other poster is probably correct.



Salary Information
All Physicians
$ 710,000

Mean USMLE Scores
Step 1
240
Step 2
241

Avg Work Hours Per Week
58.2

Length of Training
7.0 year(s)

 

[67552931811]

Just checked AAMC 'careers in medicine' and the figure is 710k... The other poster is probably correct.



Salary Information
All Physicians
$ 710,000

Mean USMLE Scores
Step 1
240
Step 2
241

Avg Work Hours Per Week
58.2

Length of Training
7.0 year(s)

Say whaaaaa.

 

[W19]

As someone who has family members in multiple different specialities I can assure you those numbers are dubious for plenty of specialities.

You might be right... Anesthesiology and derm have their numbers too high. But, the other ones seem to be in line with MGMA

 

[cabinbuilder]

Just checked AAMC 'careers in medicine' and the figure is 710k... The other poster is probably correct.



Salary Information
All Physicians
$ 710,000

Mean USMLE Scores
Step 1
240
Step 2
241

Avg Work Hours Per Week
58.2

Length of Training
7.0 year(s)

Fair enough. I'm sure there is range just like with all of us. I've seen FP low as 120K up to 400K+. I personally have had salaried positions from 180K to 425K and am currently on the high end. Just depends on the contract.

 

[rodmichael82]

Just checked AAMC 'careers in medicine' and the figure is 710k... The other poster is probably correct.



Salary Information
All Physicians
$ 710,000

Mean USMLE Scores
Step 1
240
Step 2
241

Avg Work Hours Per Week
58.2

Length of Training
7.0 year(s)

Uhh no. Not all Neurosurgeons make that much. The Spine neurosurgeons at my hospital make a little more than that. The other non-spine Neurosurgeons make more like 500k. It's just subjective and there's usually a huge range.

 

[MetricSystem]

So you know how people say, "If you are going into medicine for the money, you shouldn't (something like that). There are easier ways to make money."

What other ways can someone make $250k+/yr 10-15 years out of college?
I think there was a thread before about this but..

 

[W19]

So you know how people say, "If you are going into medicine for the money, you shouldn't (something like that). There are easier ways to make money."

What other ways can someone make $250k+/yr 10-15 years out of college?
I think there was a thread before about this but..

I always laugh when I see that statement... The other one is: 'If you want to make money, go to law school or business school or engineering school'

 

[keels99]

I always laugh when I see that statement... The other one is: 'If you want to make money, go to law school or business school or engineering school'

All of the physicians I work with state that if you are going into medicine for the money you will be sadly disappointed. I have to agree that it is a poor reason to become a doctor. The reality is after we accrue medical school debt and go several years without actually working. We end up behind other occupations as far as the amount we saved goes.

 

[W19]

All of the physicians I work with state that if you are going into medicine for the money you will be sadly disappointed. I have to agree that it is a poor reason to become a doctor. The reality is after we accrue medical school debt and go several years without actually working. We end up behind other occupations as far as the amount we saved goes.

It's a case of 'the grass is greener'... Look at who make up the 1%(er)... They are not talking about income. They are talking about wealth...

http://www.nytimes.com/packages/html/newsgraphics/2012/0115-one-percent-occupations/index.html

 

[cabinbuilder]

All of the physicians I work with state that if you are going into medicine for the money you will be sadly disappointed. I have to agree that it is a poor reason to become a doctor. The reality is after we accrue medical school debt and go several years without actually working. We end up behind other occupations as far as the amount we saved goes.

This is so true, while I have the ability to make money quickly, it seems to go out faster than it comes in and at the end of this year I am so happy to actually have money in the bank.

 

[Shinobiz11]

Orrrrrrr you could live like a resident for 2 years and pay everything off?

Plus I agree with cabin, hell with living in a random ass place in the middle of detroit for X amount of years just to pay off a couple hundred grand under the governments thumb. I will absolutely say that such a life sounds like a prison sentence.

Sorry for derailing the thread, but how is Detroit in the middle of nowhere?

 

[keels99]

Sorry for derailing the thread, but how is Detroit in the middle of nowhere?

Where does it say Detroit is in the middle of nowhere? It just says living in the middle of Detroit.

 

[cabinbuilder]

Sorry for derailing the thread, but how is Detroit in the middle of nowhere?

It's not but with it's broken down economy it might as well be. Not 1st choice of location for most. Of course I feel the same about NYC so it's all about perspective. For me I wouldn't want to be in Louisiana or Mississippi.

 

[Shinobiz11]

Where does it say Detroit is in the middle of nowhere? It just says living in the middle of Detroit.

Well usually you get reimbursed to work in a rural/underserved location. I guess Detroit falls under that, but the hospitals their are pretty high brow.

It's not but with it's broken down economy it might as well be. Not 1st choice of location for most. Of course I feel the same about NYC so it's all about perspective. For me I wouldn't want to be in Louisiana or Mississippi.

The downtown area is fine. Drive 20-30 minutes away and your in the metro area or Ann Arbor, plenty to do.

 

[cabinbuilder]

Well usually you get reimbursed to work in a rural/underserved location. I guess Detroit falls under that, but the hospitals their are pretty high brow.


The downtown area is fine. Drive 20-30 minutes away and your in the metro area or Ann Arbor, plenty to do.

Been through Detroit many times, scared me every time. Not a comfortable place for me. For me the wilderness will always be home.

 

[Shinobiz11]

Been through Detroit many times, scared me every time. Not a comfortable place for me. For me the wilderness will always be home.

Haha I was just at the Lion's game tonight. You just have to know where you're going and stay away from bad areas, like any city. It's funny that others think in the exact opposite of you and are terrified of the wilderness. Also, are you on call or something, why are you awake?

 

[keels99]

Been through Detroit many times, scared me every time. Not a comfortable place for me. For me the wilderness will always be home.

For sure. I grew up in the middle of nowhere (literally lived in the woods.) Crowded areas make me uncomfortable and unhappy.

 

[cabinbuilder]

Haha I was just at the Lion's game tonight. You just have to know where you're going and stay away from bad areas, like any city. It's funny that others think in the exact opposite of you and are terrified of the wilderness. Also, are you on call or something, why are you awake?

No I'm not on call, It's only 10pm on the West coast. Even so, I don't sleep much anyway.

 

[cabinbuilder]

For sure. I grew up in the middle of nowhere (literally lived in the woods.) Crowded areas make me uncomfortable and unhappy.

I hear you, I find the city interesting to a point but incredibly dirty and tiring after a few days.

 

[AM508]

For sure. I grew up in the middle of nowhere (literally lived in the woods.) Crowded areas make me uncomfortable and unhappy.

Same here.

 

[MetricSystem]

 

[keels99]

That cabin looks similar to my parents' house. Cedar siding versus logs, though.

 

[Imnotfromjersey]

because they can retire earlier.

 

[Lawgiver]

Been through Detroit many times, scared me every time. Not a comfortable place for me. For me the wilderness will always be home.

me too, i stayed with friends in their tiny cabin for just a few days in a pacific northwest coniferous forest and i want that again so much! except the water had way too much copper in it! 😀

 

[cabinbuilder]

That cabin looks similar to my parents' house. Cedar siding versus logs, though.

In my book that is more of a log home. Cabin has no running water or electricity, just like my avatar - my mom built it.

 

[Imnotfromjersey]

Sorry for derailing the thread, but how is Detroit in the middle of nowhere?

Detroit is not in the northeast corridor, so might seem that way for some.

 

[allantois]

because a dermatologist can just decide to quit and retire at age 45, and by that point he'll have made more money than his pcp counter parts that will work until they're 70.

Money buys time and time is EVERYTHING.

I can't imagine what dermatologist in their right mind would choose to retire at 45 😀

 

[IslandStyle808]

No worries! I think it's just creating your own thread here regarding what you did in order to pay off your debt in three years. If enough users think it's very useful then SDN admin will "sticky" it so it stays at the top as a useful thread.

Totally concur with this. Any information is better than no information. I am thankful to you Cabinbuilder for all the posts on handling debt thus far.

 

[cliquesh]

Just checked AAMC 'careers in medicine' and the figure is 710k... The other poster is probably correct.



Salary Information
All Physicians
$ 710,000

Mean USMLE Scores
Step 1
240
Step 2
241

Avg Work Hours Per Week
58.2

Length of Training
7.0 year(s)

The 2010 mgma salary report says $675k for neurosurgery, which is similar to the aamc's number.

 

[Imnotfromjersey]

The 2010 mgma salary report says $675k for neurosurgery, which is similar to the aamc's number.

update on that in 2013:

"Neurosurgery was flat in MGMA’s findings — at $740,702 median overall and $468,188 in academic neurosurgery. The AGMA median in neurosurgery was $656,250."

http://www.nejmcareercenter.org/article/physician-compensation-update-big-picture-shows-stability/

65k increase in 3 years!

 

[deleted480308]

I think a good take home would be 120K. Great would be 250K. Amazing would be 350K+

Is it possible for a family doc to hit 220K take home? so around 250K gross?

You are bad at estimating taxes

 

[cliquesh]

update on that in 2013:

"Neurosurgery was flat in MGMA’s findings — at $740,702 median overall and $468,188 in academic neurosurgery. The AGMA median in neurosurgery was $656,250."

http://www.nejmcareercenter.org/article/physician-compensation-update-big-picture-shows-stability/

65k increase in 3 years!

The number I gave, $675k, was the mean in 2010. The median was $600k.

 

[W19]

update on that in 2013:

"Neurosurgery was flat in MGMA’s findings — at $740,702 median overall and $468,188 in academic neurosurgery. The AGMA median in neurosurgery was $656,250."

http://www.nejmcareercenter.org/article/physician-compensation-update-big-picture-shows-stability/

65k increase in 3 years!

The 2010 mgma salary report says $675k for neurosurgery, which is similar to the aamc's number.

Spending 7+ years in residency in inhumane condition after 8 years of undergrad + med school is no joke. They definitely deserve to make that kind of money. However, I wish physicians in primary were making half of that.

 

[GypsyHummus]

You are bad at estimating taxes

Yeah, it would me more like 35%. So if you make 250K, your bringing home 165K ish,

165K is still good money but dang.

 

[W19]

Yeah, it would me more like 35%. So if you make 250K, your bringing home 165K ish,

165K is still good money but dang.

That 165k does not take into account retirement/health insurance/disability insurance etc... In reality it will be around 135k. With loan repayment (for most), we are talking about 11ok here..

 

[GypsyHummus]

That 165k does not take into account retirement/health insurance/disability insurance etc... In reality it will be around 135k. With loan repayment (for most), we are talking about 11ok here..

And if you wanna pay it off faster (the loan) it is even less.

So thats where all the money goes.

 

[W19]

And if you wanna pay it off faster (the loan) it is even less.

So thats where all the money goes.

I guess I should shoot for a specialty in which I can make 300k+/year cause I want to take home 150k after everything else is paid.😉