Work and put med school application aside for a bit?

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So I am in a bit of a bind and could use some advice. I landed a lucrative management training job with a high profile company. The thing is, it is a 2 year program. I am 24 currently, and was planning on applying in Spring of 2015. If I participate in this two year program, I have the ability to earn around $100k over that 2 year period with almost no living expenses (Living with my Mom). This would GREATLY help with medical school expenses. Also, I can finish my pre-reqs at a slower pace, which would be beneficial too I guess. I am already 24 though, and would be 26/27 when I would apply If I took this job. That just seems late to me, and I would be in school until I was 30/31. I see it as a year or 2 wasted that I could be in medicine or a year or 2 more until I could become a doctor. It's not like I am 21/22. Maybe I am just being stupid, but I was wondering what you all thought.
 
There are plenty of non-traditional applicants who apply at relatively older ages, even older than 26/27. Many schools actively appreciate and seek applicants like this who bring a more mature and 'real-world' perspective.

If you think you will enjoy the job (ie. not be miserable for two years just for the money), then I think it may be a nice option to seriously consider. $100 K is a lot of money and taking that much less out in loans would be very helpful. Taking the pre-reqs a little slower would also make it more relaxed and give you more time to study and do well. Better grades will definitely improve your application and give you a better chance at receiving scholarships, so you could think of that as an investment.

So yes, you will be a little older than the average entering medical student, but there will also be other students your age and even older than you. It's not looked down upon, and in the long run, I don't think an extra two years will really make a difference (although the reduced 100k in loans could). Whatever you decide, good luck.
 
I would do it personally. What really is 2 years or even 4 years if you stay longer? Think of it this way if you are able to save up the money you could potentially pay med school out of pocket which would save you tons in the long run after medical school.

Plus what if you start the job and realize you want to stay working there? Maybe it ends up being your calling instead of med school.
 
You would have to sit down and do the math, but you may actually be leaving money on the table, not saving. Even though you could save some money to take out less loans, you would also give up 2 years of attending salary which could be upwards of .5 mil depending on specialty. If you're sure you want to go into medicine, I'd just go ahead and get started. Taking out less money in loans may seem less scary now, but probably isn't as beneficial as you think in this case.

If you think you might be happy in this other career long term, then by all means explore it as an option. It sounds like a stable, lucrative job. If you do decide to apply to med school, you definitely won't be too old. But if we're just talking about the money, it's probably not worth it.
 
Hi OP, congrats on your job offer! It looks like you have a tough decision to make, and I'd suggest posting this question on the non-trad forums, as they might be able to give you more targeted advice about balancing delayed entry with money saved. Good luck!
 
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kovalchuk71 said:
So I am in a bit of a bind and could use some advice. I landed a lucrative management training job with a high profile company. The thing is, it is a 2 year program. I am 24 currently, and was planning on applying in Spring of 2015. If I participate in this two year program, I have the ability to earn around $100k over that 2 year period with almost no living expenses (Living with my Mom). This would GREATLY help with medical school expenses. Also, I can finish my pre-reqs at a slower pace, which would be beneficial too I guess. I am already 24 though, and would be 26/27 when I would apply If I took this job. That just seems late to me, and I would be in school until I was 30/31. I see it as a year or 2 wasted that I could be in medicine or a year or 2 more until I could become a doctor. It's not like I am 21/22. Maybe I am just being stupid, but I was wondering what you all thought.
Click to expand...

For what it's worth, I am matriculating to medical school this fall at the age you would be if you take this job. It's fine. The intervening time I spent working has been valuable in and of itself.

I would take the job if it is a job you enjoy and see furthering your career in general through the experience and strengthening your application. Don't take it just for the money. However, the money is a really nice bonus that will make life as a medical student easier, and that would be a great thing. Although it's possible that in an absolute sense you might come out a few dollars shorter in the long run by 'passing up' an attending's salary for those two years, in reality the additional security and comfort and reduced loans during medical school itself is overwhelmingly likely to compensate for that.
 
Thanks for the replies! Can this be moved or should I just start a new topic in the non trad forum?
 
Do it for the experience or piece of mind, but not for the debt. Remember, every year you take off is a year of lost doctor salary. Let's put it this way, you're avoiding 100K in loans plus ~7% interest, but you're losing at least 400K (minus taxes) in doctor salary. You gain money by paying off debts faster (less accrued interest), but you're still losing money by putting off medical school. If it's a matter of taking time off to strengthen your application or pursue something you'd like to do, go for it. Otherwise, I don't really see any financial reason to put it off. Loans seem very daunting, but this is one of the few professions where paying them off without making enormous sacrifices is usually possible.
 
BTW, my above answer is also the reason med schools have to actively screen MD/PhD applicants for those looking for the free ride. They don't realize that they're going to end up "paying" more for their education in lost salary in the 3-4 PhD years.
 
I'm also matriculating at an older age. I have no qualms about taking some years and doing something interesting or something that would add to a medical career. But, the main concern of the post was about money. Lets say you make the $100k and are able to save $75k. Thats about half of the total average loan burden of a graduating med student, assuming you don't go to a more expensive school. I'm not diminishing that amount of money, it's significant and could help reduce stress. At the same time, it's a fraction of an attending salary for that amount of time. Taking out loans sucks and it's scary, but the med students I know don't let the fear overtake them, or spend their days worrying about it. Better to play the long game on this one. Good luck!
 
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I think I am going to go for it. I have to think worst case scenario, in my opinion. What if I don't get into medical school? I passed up an opportunity at a great job that I will never get a chance at again? It's a good back up plan. One year won't kill me.
 
One other point of view that really should be considered: This is a Management Training Program. This means that the hiring company was impressed by you and is investing in your training so that after your program, you will continue to work for them in a management capacity, making their investment worthwhile. They're doing this, not because they're kind, or because they expect to profit (much) from your work during the training program, but because they expect to profit from their investment after your training. Right? So unless you've told them straight-out that you plan to apply to medical school and then leave the company right after you complete the training program, accepting the spot seems somewhat unethical.

Also, people tend to vastly overestimate the money they will save. If you're thinking you will save $100K over those two years, forget it. First off, you won't receive $100K; you'll receive more like $75K. Taxes, benefits, other deductions, etc. You'll need to buy a professional wardrobe that you probably don't have now. You'll want to socialize with your new friends from work. You'll want to buy a car, buy lunch, pay for dry cleaning. If you end up saving $25K of that $100, you'll be lucky.

And - Jobs always sound better at the 'promise' stage. Many of those 'sounds great!' jobs turn out to be mirages. This is not the only opportunity you will have, and $100K sounds so much better than $50K per year -- which is a decent-good salary for a new college grad, but hardly once-in-a-lifetime opportunity.

No doubt, it beats working at Walmart -- but not worth scuttling your lifelong dreams over.
 
Of course, and I have thought about that and talked to previous people in the program. Some do not even get a management job out of the program oddly enough. It is extremely competitive. Some end up with other non-related jobs (which I'm not sure I would be interested in at that point). Also hitting on a previous posters comment. I may get into it and LOVE it. I'd regret not going through the experience honestly.
 
I would not do it if you are fairly confident that you will get into a medical school this cycle. Finances aside, I've seen people who started medical school in their mid-late 20's ruin their family life because they fall into the awkward zone of mid-late 30's when they attempt to start a family. Two years in your 20's and 30's mean a lot for dating, getting married, and stabilizing a family during and after your residency/fellowship. Also, non-trad med students have told me that they cannot easily connect with their fellow classmates, as most students are 22 or 23 when they start med school. I know that my opinion is rather personal, but I want you to see from my perspective the long-term consequences of starting med school late when you have the option to start earlier.
 
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