why must we forego money to become doctors?

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sure doctors are usually paid 100,000+ depending on the specialty but when you juxtapose these figures with others (CEOs, investment bankers, business owners, etc) these figures simply pale in comparison. this disparity is exacerbated when you look at how doctors spend 10+ years in schooling and end up with a monolithic amounts of debt in addition to state accreditation fees. Then one must consider the amount of hours dedicated each day versus others and reasons why people go into medicine begin to fade into the background.

I want to be the dude making m/billions, not quarter million(s).

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Ha, what a freaking joke.

You make the kind of money you want to make by playing with money, NOT by doing actual work.

Big risk, big reward in the business world. In Medicine, you have guaranteed upper middle class status.
 
sure doctors are usually paid 100,000+ depending on the specialty but when you juxtapose these figures with others (CEOs, investment bankers, business owners, etc) these figures simply pale in comparison. this disparity is exacerbated when you look at how doctors spend 10+ years in schooling and end up with a monolithic amounts of debt in addition to state accreditation fees. Then one must consider the amount of hours dedicated each day versus others and reasons why people go into medicine begin to fade into the background.

I want to be the dude making m/billions, not quarter million(s).

Nobody is forcing you to be a pre-med or go to medical school. Go do something else since money is more easily found elsewhere in your opinion (and it matters to you).
 
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In

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sure doctors are usually paid 100,000+ depending on the specialty but when you juxtapose these figures with others (CEOs, investment bankers, business owners, etc) these figures simply pale in comparison. this disparity is exacerbated when you look at how doctors spend 10+ years in schooling and end up with a monolithic amounts of debt in addition to state accreditation fees. Then one must consider the amount of hours dedicated each day versus others and reasons why people go into medicine begin to fade into the background.

I want to be the dude making m/billions, not quarter million(s).

On average you are more likely to earn a high salary once you become a physician than the majority of professions. Everyone of those fields that you have mentioned do make a large salary. However, job security and making it to the point you are getting millions is just ridiculously hard.

Here is some hard proof of what the top average salaries are.

http://www.bls.gov/ooh/highest-paying.htm
 
sure doctors are usually paid 100,000+ depending on the specialty but when you juxtapose these figures with others (CEOs, investment bankers, business owners, etc) these figures simply pale in comparison. this disparity is exacerbated when you look at how doctors spend 10+ years in schooling and end up with a monolithic amounts of debt in addition to state accreditation fees. Then one must consider the amount of hours dedicated each day versus others and reasons why people go into medicine begin to fade into the background.

I want to be the dude making m/billions, not quarter million(s).

If you think you can just clap your hands and become a CEO or owner of a successful business, be my guest. Professional athletes' salaries trump those of doctors as well, so there's another valid option for you.
 
sure doctors are usually paid 100,000+ depending on the specialty but when you juxtapose these figures with others (CEOs, investment bankers, business owners, etc) these figures simply pale in comparison. this disparity is exacerbated when you look at how doctors spend 10+ years in schooling and end up with a monolithic amounts of debt in addition to state accreditation fees. Then one must consider the amount of hours dedicated each day versus others and reasons why people go into medicine begin to fade into the background.

I want to be the dude making m/billions, not quarter million(s).

In.
 
It is pretty stupid when people say that many doctors are just in it for the money. Job security and decent salary, maybe, but if you just want to make money in life there are a lot more efficient ways to do so.
 
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CEOs and business owners are remarkable. On average, you're just some kid who got an A- average in biology at a state university and scored 80th percentile on some meaningless standardized test.
 
sure doctors are usually paid 100,000+ depending on the specialty but when you juxtapose these figures with others (CEOs, investment bankers, business owners, etc) these figures simply pale in comparison. this disparity is exacerbated when you look at how doctors spend 10+ years in schooling and end up with a monolithic amounts of debt in addition to state accreditation fees. Then one must consider the amount of hours dedicated each day versus others and reasons why people go into medicine begin to fade into the background.

I want to be the dude making m/billions, not quarter million(s).

Plz go
 
It's just amusing that people are trying this in a lot of threads and it never actually gets to "lock," just a bunch of people saying "in"

In can mean alot of things.

In before lock
In before flame
In before lulz


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sure doctors are usually paid 100,000+ depending on the specialty but when you juxtapose these figures with others (CEOs, investment bankers, business owners, etc) these figures simply pale in comparison. this disparity is exacerbated when you look at how doctors spend 10+ years in schooling and end up with a monolithic amounts of debt in addition to state accreditation fees. Then one must consider the amount of hours dedicated each day versus others and reasons why people go into medicine begin to fade into the background.

I want to be the dude making m/billions, not quarter million(s).

You forgot to compare doctors to scientists who usually make less than $100k/year despite being in education and training just as long as physicians. You also forgot to compare them to lawyers, many of whom make below $100k. Don't forget veterinarians either. Or any of the other careers with lengthy post-secondary and graduate education and training.

Notice that the careers you list are all in business. Also notice that they're all top-of-the-ladder careers with no clearly defined career path. Most of the people who go into business will never be CEO of a big company, or owner of a wildly successful business, or an investment banker at a big firm. Yeah, sure, you could be making $10 million/year working at Goldman-Sachs, but unless you have an MBA from HYP and amazing networking skills you're not even going to get your foot in the door.

Also, billionaires typically didn't get to be billionaires from their salaries. They got that way through stock options and other investments. This is why you sometimes see CEOs of troubled firms giving themselves a $1/year salary; they couldn't care less about their salary because it's only a small fraction of their yearly income even if it is millions of dollars per year that they're giving up.
 
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I think what you wanted to ask is: why must we forgo medicine to be rich?

If you want to make money as an MD, you can be the next Dr. Oz. I hear he makes $5000 per show, making 100k a month from his shows alone. I know he probably makes money from other things like books...He did forgo medicine to make money. I don't think he's practicing anymore. Correct me if I am wrong.

Good luck with that. I hate Dr. Oz.
 
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Are there ways to make more money than being a doctor? Absolutely.

Is there an easier way to a 200k+ salary? Nope.

Do you want to be a m/billionaire and aren't an absolute genius? Good luck.
 
It's just amusing that people are trying this in a lot of threads and it never actually gets to "lock," just a bunch of people saying "in"

I got bored of saying that three times in a row.
 
You can be the next Dr. Oz. I hear he makes $5000 per show, making 100k a month from his shows alone. I know he probably makes money from other things like books...

Good luck with that.

I hate Dr. Oz.

Don't we all... :naughty:
 
Are there ways to make more money than being a doctor? Absolutely.

Is there an easier way to a 200k+ salary? Nope.

Do you want to be a m/billionaire and aren't an absolute genius? Good luck.

There are plenty of easier ways. Not so many that are as close to a guarantee as doctoring though.

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There are plenty of easier ways. Not so many that are as close to a guarantee as doctoring though.

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Really? I can't think of even one. Well, I guess something like dentistry...Other than that, everything else seems like a either huge risk, lots of work, incredibly difficult, or some combination thereof. If someone's one goal in life was to make a salary within that range, I would tell them to become a physician. Not that that's at all a good reason to become a doctor in the first place ;)
 
Really? I can't think of even one. Well, I guess something like dentistry...Other than that, everything else seems like a either huge risk, lots of work, incredibly difficult, or some combination thereof. If someone's one goal in life was to make a salary within that range, I would tell them to become a physician. Not that that's at all a good reason to become a doctor in the first place ;)

Right. Med school and residency aren't hard work :thumbup:

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Right. Med school and residency aren't hard work :thumbup:

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Oh, woops, that came out wrong. I didn't mean to imply that it wasn't hard work. It obviously requires a huge amount of dedication, and I don't mean to try and downplay that.

However, it annoys me to no end when people make comments about how they would be able to make so much more money if they hadn't gone to medical school. What are they doing? Engineering? That's a lower salary. Law? That can't be right. Business? Only the top 10% or so make as much, on average, as a physician. One needs to be a very successful entrapenuer/investor/consultant/whatever to make money in the millions and billions, and even people in the more difficult fields will never see a 200k+ salary. Obviously, they don't have hundreds of thousands of dollars of student debt, but otherwise...

People say medicine isn't the most lucrative field, and I'm not saying that it is, but they all seem to point to some mythical profession that makes a gillion dollars for less work, and it simply doesn't exist. Unless there's something nobody's been telling me about :(
 
Ha, what a freaking joke.

You make the kind of money you want to make by playing with money, NOT by doing actual work.

Big risk, big reward in the business world. In Medicine, you have guaranteed upper middle class status.

Strongly subjective statement.
 
Oh, woops, that came out wrong. I didn't mean to imply that it wasn't hard work. It obviously requires a huge amount of dedication, and I don't mean to try and downplay that.

However, it annoys me to no end when people make comments about how they would be able to make so much more money if they hadn't gone to medical school. What are they doing? Engineering? That's a lower salary. Law? That can't be right. Business? Only the top 10% or so make as much, on average, as a physician. One needs to be a very successful entrapenuer/investor/consultant/whatever to make money in the millions and billions, and even people in the more difficult fields will never see a 200k+ salary. Obviously, they don't have hundreds of thousands of dollars of student debt, but otherwise...

People say medicine isn't the most lucrative field, and I'm not saying that it is, but they all seem to point to some mythical profession that makes a gillion dollars for less work, and it simply doesn't exist. Unless there's something nobody's been telling me about :(

Concur
 
Oh, woops, that came out wrong. I didn't mean to imply that it wasn't hard work. It obviously requires a huge amount of dedication, and I don't mean to try and downplay that.

However, it annoys me to no end when people make comments about how they would be able to make so much more money if they hadn't gone to medical school. What are they doing? Engineering? That's a lower salary. Law? That can't be right. Business? Only the top 10% or so make as much, on average, as a physician. One needs to be a very successful entrapenuer/investor/consultant/whatever to make money in the millions and billions, and even people in the more difficult fields will never see a 200k+ salary. Obviously, they don't have hundreds of thousands of dollars of student debt, but otherwise...

People say medicine isn't the most lucrative field, and I'm not saying that it is, but they all seem to point to some mythical profession that makes a gillion dollars for less work, and it simply doesn't exist. Unless there's something nobody's been telling me about :(

You have to take into account that the folks who get into medicine had the grades and brains and work ethic and peristence to be in the top X% of many other fields. .comparing to the "average" in those fields is simply poor analysis and comparing apples to oranges. (This notion was also expressed in a New Yorker article by Atul Gawande a few years bck, BTW, it not just my view). You won't be just the average lawyer if you put in the same effort and intellect you would in med school or residency, you would excel, and be rewarded for it. I made a lot more in law three years out of college than I will make 6-7 years out of med school. And if I had stayed in law those same 6-7 years, assuming even only minimal raises and bonuses (which is being very conservative), and even ignoring educational debt, my bank account would look very different. It's not a complicated analysis. If money is what interests you, there are many other paths you can take where your chances of making more money and starting sooner are much better.

Also always keep in mind the concept of the "time value of money". It's very basic finance but far too many on here don't seem to be aware of the concept, which is the underpinning of all financial markets. $1 received ten years from now isn't worth $1 today. It's the same concept of winning the lottery and being given the choice of taking your $1,000,000 winnings as an annuity over ten years or receiving a much lower lump sum today. Those choices are actually identical value, it's just that the winnings being paid out toward the end of the decade are simply not worth as much in today's dollars. Similarly, a physicians salary not earned until ten years from now is worth but a fraction of that amount in today's dollars. So the lawyer making $150k right out of law school (big law in a big city, not the "average", and again the average is the wrong number to be looking at) is making more in today's dollars than the doctor who brings in $200k after 4 years of med school and 3+ years of residency, maybe a fellowship. Giving the same amount of effort you have to put in and brains/ grades required to get there, law wins. That's more money sooner. And in law the ultimate ceiling is higher. Similar analysis can be made in a variety of business and consulting paths. You can't point to the X % who wouldn't get into med school anyhow as examples of how you would fare in law or business. So what if only 10% of people going into business do well -- that other 90% don't have med school caliber intellects or work ethics. You have to look to the smaller Y% who had a choice of either, because that's really the category you are presumably in. It's a waste of time analysis otherwise.

Medicine is simply a poor choice if the goal is to get rich, the years of deferred income kill you because the time value of money come into play. You have big opportunity costs. You incur more debt. And because salaries are driven by reimbursements, which tend to go down over time, not up, the ceiling in medicine is lower, and decreasing compared to other fields. It is not a choice anyone looking to maximize wealth would ever make. It's actually a financially naive decision. It only is a good choice if you enjoy it.

So while it may "annoy you to no end", it's probably sound advice.
 
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I think you're disregarding the fact that in most professions there is risk when it comes to how much you'll make and whether you'll have a job. Many people want to become doctors because after all that training and debt you have a guaranteed, well-paying job. Especially after the recession, people are clinging to security. Sure, you might make more as a businessman, but you could just as easily be laid off at any time. Sure, you could start your own business and become a multi-millionaire. But that would require initiative and luck. Who wants that unnecessary stress? What is the point of taking that risk? From an economics point of view there are risks that are worth it, but realistically most people don't want to take risks with years of their lives. I also don't think that all doctors and potential doctors have the skills necessary to become good lawyers and businessmen. For one thing, potential doctors and doctors are not really encouraged to have initiative.
 
Really? I can't think of even one. Well, I guess something like dentistry...Other than that, everything else seems like a either huge risk, lots of work, incredibly difficult, or some combination thereof. If someone's one goal in life was to make a salary within that range, I would tell them to become a physician. Not that that's at all a good reason to become a doctor in the first place ;)
50-cent-bert-seseme%20-street-1255767376g.gif


LoL
 
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I think you're disregarding the fact that in most professions there is risk when it comes to how much you'll make and whether you'll have a job. Many people want to become doctors because after all that training and debt you have a guaranteed, well-paying job. Especially after the recession, people are clinging to security. Sure, you might make more as a businessman, but you could just as easily be laid off at any time. Sure, you could start your own business and become a multi-millionaire. But that would require initiative and luck. Who wants that unnecessary stress? What is the point of taking that risk? From an economics point of view there are risks that are worth it, but realistically most people don't want to take risks with years of their lives. I also don't think that all doctors and potential doctors have the skills necessary to become good lawyers and businessmen. For one thing, potential doctors and doctors are not really encouraged to have initiative.

You are guaranteed nothing. Talk to senior anesthesiologist what the job market was like in the mid 90's, or current pathology attendings, or even current radiology fellows doing multiple fellowships due to the job market. Specialists in a lot of major cities aren't having the easiest time finding jobs, and if they do, they get them for significant pay cuts. A lot of this has to do with the economy.

In terms of taking risks, actually a good amount of doctors have to take risks to start their own practice. It is tough to start from nothing, but many were successful in the past (when reimbursements were better). Many still do establish their own practice, although employment model seems to be becoming more popular with increasing overhead and regulations.
 
sure doctors are usually paid 100,000+ depending on the specialty but when you juxtapose these figures with others (CEOs, investment bankers, business owners, etc) these figures simply pale in comparison. this disparity is exacerbated when you look at how doctors spend 10+ years in schooling and end up with a monolithic amounts of debt in addition to state accreditation fees. Then one must consider the amount of hours dedicated each day versus others and reasons why people go into medicine begin to fade into the background.

I want to be the dude making m/billions, not quarter million(s).

You throw out CEO, investment bankers and successful business owners as if every medical student could've been one of those.

Do you understand how difficult and prestigious it is to get to any of those positions? Most wannabe CEOs fizzle out a long time before they reach that position. There is so much luck to some of these positions that even seemingly "destined" people often don't reach that level.

Not only that but there are hundreds of thousands of doctors in the US and may about a few thousand CEOs that earn more than 300k.

Also, CEOs only make that amount of money when they are well into their 40s and 50s so their grind is a lot harder.

Investment banking is thrown out like its just some sort of easy career to get into. Couldn't be further from the truth. Whereas state med school is a guarantee of earning easily 180k+ (if you put in the hours), you really need a top business school to get into IB. IB interviews often has 100 candidates per position. Not to mention analysts work like dogs as well and your job security is horrible.

Doctors are certainly not on the same level as Investment bankers. IB can be compared to a group of elite doctors but not the average.

IB is very different from Doctors in term of personality for the job. They all share the ambition, desire for achievement and hard working characteristics but IB requires dealing with clients, mathematical aptitude and social skills more than doctors do. Doctors need science skills, memorization skills and the tolerance of the medical environment. A lot of people don't like dealing with feces, urine, blood and death on a daily basis.
 
It's not just about luck, it's about skill and a different type of intelligence. I disagree that because we all made it through med school and are willing to put in time and effort into studying, we could all be at the top of any other well-paying field. I know myself and I know my classmates well. Most of them can't advocate for themselves, many couldn't network if you paid them to do it, and there's often not a ton of creative power around. In order to succeed in business, you don't just need the elbow grease, you need a specific skill set that in my experience, most med students don't have. My brother is incredibly successful in business- we are almost opposite. He didn't spend a 10th of the time I did studying, didn't have good grades, but he could sell himself way better than I ever could. He's much more adept at sucking up than I am, can "talk the talk" better than I can, and can sell anything to anyone. He's also a lot more creative. He will forever make way more money than I do. And that's ok cause I would have been merely average at business.
As for law, based on the fact that my best friend is a lawyer and I suffered through her entire law school experience with her, I can tell you she's way better at it than I would have been. Plus, having now edited a whole bunch of people's personal statements, I can confidently say that many (most?) med students can't write worth a damn. Heck many people suffer through the verbal section of the MCAT and that's the closest thing we have to the LSAT. There is zero way that the best med student in my class, who has a photographic memory and is generally a robot, would have been as successful in law, business or anything else because he has no communication or social skills. It's like me saying that because I am dedicated and hard-working, I can be a professional athlete. Not exactly- I have asthma, sketchy hand-eye coordination, and think tossing a ball around for a living is a remarkable waste of energy.
 
One of my best friends who graduated last year with me was just offered a 250k job at a sports agency. Connections, a little luck, and hard work (but nothing that keeps him from going out a couple times a week) is how he got the job but it is a little sad thinking of my friends actually making money while my bank account goes further into the red. However for every friend like this, I have many more that are struggling just to find ANY job. The job/financial security plus what being a physician entails (i.e. our responses to the common interview question "Why Medicine?") make me sure that medicine is still the right decision for me. Just my two cents
 
You throw out CEO, investment bankers and successful business owners as if every medical student could've been one of those.

Do you understand how difficult and prestigious it is to get to any of those positions? Most wannabe CEOs fizzle out a long time before they reach that position. There is so much luck to some of these positions that even seemingly "destined" people often don't reach that level.

Not only that but there are hundreds of thousands of doctors in the US and may about a few thousand CEOs that earn more than 300k.

Also, CEOs only make that amount of money when they are well into their 40s and 50s so their grind is a lot harder.

Investment banking is thrown out like its just some sort of easy career to get into. Couldn't be further from the truth. Whereas state med school is a guarantee of earning easily 180k+ (if you put in the hours), you really need a top business school to get into IB. IB interviews often has 100 candidates per position. Not to mention analysts work like dogs as well and your job security is horrible.

Doctors are certainly not on the same level as Investment bankers. IB can be compared to a group of elite doctors but not the average.

IB is very different from Doctors in term of personality for the job. They all share the ambition, desire for achievement and hard working characteristics but IB requires dealing with clients, mathematical aptitude and social skills more than doctors do. Doctors need science skills, memorization skills and the tolerance of the medical environment. A lot of people don't like dealing with feces, urine, blood and death on a daily basis.

People on here greatly inflate the intelligence of doctors compared to other fields.

It is 10x harder to become and be an investment banker than it is to become a doctor. I go to a HYP school where top banks recruit heavily. My friend who worked for Goldman Sachs said they won't even touch you with less than a 3.8. And after you get the job you work from 9 am to 2 am (and you work alot of weekends). Ibankers are alot smarter than doctors and they work alot harder.

Anyone who assumes otherwise doesn't know what banking work actually entails.
 
CEOs and business owners are remarkable. On average, you're just some kid who got an A- average in biology at a state university and scored 80th percentile on some meaningless standardized test.

LOL this. :thumbup:
 
It is pretty stupid when people say that many doctors are just in it for the money. Job security and decent salary, maybe, but if you just want to make money in life there are a lot more efficient ways to do so.

People always say this what are the more efficient ways? People always seem to think that because they scored well on a standardized test and performed well in a state college that they have what it takes to be an entrepreneur or an innovator. Getting to be an investment banker is not so easy they tend to recruit from a few schools. Also most of these jobs are in places that have a higher cost of living.
 
People on here greatly inflate the intelligence of doctors compared to other fields.

It is 10x harder to become and be an investment banker than it is to become a doctor. I go to a HYP school where top banks recruit heavily. My friend who worked for Goldman Sachs said they won't even touch you with less than a 3.8. And after you get the job you work from 9 am to 2 am (and you work alot of weekends). Ibankers are alot smarter than doctors and they work alot harder.

Anyone who assumes otherwise doesn't know what banking work actually entails.

:thumbup:

Yep. Also, at top undergraduate institutions like MIT, going pre-med is considered "selling out" and being a failure. The true "geniuses" go into start-ups, I-banking, and trading.
 
:thumbup:

Yep. Also, at top undergraduate institutions like MIT, going pre-med is considered "selling out" and being a failure. The true "geniuses" go into start-ups, I-banking, and trading.

That's true. But I also think going into Ibanking is not particularly fulfilling. As a first year analyst, you apparently spend alot of time editing powerpoints to make sure all the fonts are consistent.


I'm quasi-selling out by going into healthcare consulting next year. And I am going to be doing alot of phone calls to physicians and making a bunch of powerpoints.

Really intellectually stimulating!
 
People on here greatly inflate the intelligence of doctors compared to other fields.

It is 10x harder to become and be an investment banker than it is to become a doctor. I go to a HYP school where top banks recruit heavily. My friend who worked for Goldman Sachs said they won't even touch you with less than a 3.8. And after you get the job you work from 9 am to 2 am (and you work alot of weekends). Ibankers are alot smarter than doctors and they work alot harder.

Anyone who assumes otherwise doesn't know what banking work actually entails.

:thumbup:

Yep. Also, at top undergraduate institutions like MIT, going pre-med is considered "selling out" and being a failure. The true "geniuses" go into start-ups, I-banking, and trading.

This is completely wrong. I got my series 7 after a month of studying and my 63 after a weekend of studying. It's not that hard and all you need to do is have good people skills to start at a mediocre firm and be somewhat knowledgeable about finances. Obviously if you want to work for Merrill or Goldman you are going to need something more (i.e. an MBA and some good connections). But if I show up to Goldman with a portfolio worth half a billion, they won't turn me down, regardless of my degree and what school I went to.

I'm at a top institution in close proximity to downtown NYC and we have major firms come here all the time to recruit students, as well, and to say that going pre-med is considered "selling out" is completely inaccurate. The "geniuses", at least here, are the ones who do BME and biophysics and then it's the "pre-meds".
 
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I'm at a top institution in close proximity to downtown NYC and we have major firms come here all the time to recruit students, as well, and to say that going pre-med is considered "selling out" is completely inaccurate. The "geniuses", at least here, are the ones who do BME and biophysics and then it's the "pre-meds".

I hate that I have to say this, but the average genius at any institution in NYC pales in comparison to MIT, Stanford, or Harvard.

Disclaimer: I did not go to any of the three institutions above for undergrad.
 
You have to take into account that the folks who get into medicine had the grades and brains and work ethic and peristence to be in the top X% of many other fields. .comparing to the "average" in those fields is simply poor analysis and comparing apples to oranges. (This notion was also expressed in a New Yorker article by Atul Gawande a few years bck, BTW, it not just my view). You won't be just the average lawyer if you put in the same effort and intellect you would in med school or residency, you would excel, and be rewarded for it. I made a lot more in law three years out of college than I will make 6-7 years out of med school. And if I had stayed in law those same 6-7 years, assuming even only minimal raises and bonuses (which is being very conservative), and even ignoring educational debt, my bank account would look very different. It's not a complicated analysis. If money is what interests you, there are many other paths you can take where your chances of making more money and starting sooner are much better.

Also always keep in mind the concept of the "time value of money". It's very basic finance but far too many on here don't seem to be aware of the concept, which is the underpinning of all financial markets. $1 received ten years from now isn't worth $1 today. It's the same concept of winning the lottery and being given the choice of taking your $1,000,000 winnings as an annuity over ten years or receiving a much lower lump sum today. Those choices are actually identical value, it's just that the winnings being paid out toward the end of the decade are simply not worth as much in today's dollars. Similarly, a physicians salary not earned until ten years from now is worth but a fraction of that amount in today's dollars. So the lawyer making $150k right out of law school (big law in a big city, not the "average", and again the average is the wrong number to be looking at) is making more in today's dollars than the doctor who brings in $200k after 4 years of med school and 3+ years of residency, maybe a fellowship. Giving the same amount of effort you have to put in and brains/ grades required to get there, law wins. That's more money sooner. And in law the ultimate ceiling is higher. Similar analysis can be made in a variety of business and consulting paths. You can't point to the X % who wouldn't get into med school anyhow as examples of how you would fare in law or business. So what if only 10% of people going into business do well -- that other 90% don't have med school caliber intellects or work ethics. You have to look to the smaller Y% who had a choice of either, because that's really the category you are presumably in. It's a waste of time analysis otherwise.

Medicine is simply a poor choice if the goal is to get rich, the years of deferred income kill you because the time value of money come into play. You have big opportunity costs. You incur more debt. And because salaries are driven by reimbursements, which tend to go down over time, not up, the ceiling in medicine is lower, and decreasing compared to other fields. It is not a choice anyone looking to maximize wealth would ever make. It's actually a financially naive decision. It only is a good choice if you enjoy it.

So while it may "annoy you to no end", it's probably sound advice.

Just out of curiosity, when you say that folks in medicine can be the top percentage in law due to work ethic, does this take into account people that might be terrible at forming sound arguments or other parts of law that play on certain skills? I assume someone can work hard to improve their logic skills and arguing abilities I suppose...
 
I hate that I have to say this, but the average genius at any institution in NYC pales in comparison to MIT, Stanford, or Harvard.

Disclaimer: I did not go to any of the three institutions above for undergrad.

So then how would you know? My institution has by far more nobel laureates than any of those institutions, but thanks for the ignorant comment.
 
So then how would you know? My institution has by far more nobel laureates than any of those institutions, but thanks for the ignorant comment.

Meh, Watson and Crick got a Nobel for work mainly stolen from other individuals. Overrated.

Also, I assumed you were at Columbia, which I love to troll (my best bud is there).
 
Meh, Watson and Crick got a Nobel for work mainly stolen from other individuals. Overrated.

Also, I assumed you were at Columbia, which I love to troll (my best bud is there).

If there was a like button, I'd like your comment.:thumbup:
 
There's nothing stopping you from making the connections or doing the extra work to get the extra salaries. Atul Gawande, Sanjay Gupta, The Great Oz... they're outliers, the same way CEOs, successful consultants, and the like are outliers.

This thread is split, of course. IB and all that is a lot easier to pull off when you are the "stereotype SDNer" - a person at an Ivy League or equivalent school with high scores and a penchant for obsession. It's like threading a needle in a hurricane for the people from midrange (or lower) schools, though. We ain't all the same on here, and we can't argue about these things like we are.
 
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