8 ms·

But the 300-500k/ yr income is nice. Plus you are the only profession that can legally write prescriptions and do some services. The power of the medical cart

But the 300-500k/ yr income is nice. Plus you are the only profession that can legally write prescriptions and do some services. The power of the medical cartels has intangible benefits too.

stbtrax 7y ago
you can make that salary at a big tech company
- jjeaff 7y ago
  I would guess the number of doctors making that range would be at least an order of magnitude more common than tech workers but I could be wrong. Additionally, the bay area in the US is essentially the only place in the world you can make that kind of money in tech.
  - nogabebop23 7y ago
    If you're going into medicine for the money you are making a huge mistake. The front-side effort, commitment and cost is massive, and depending on your field it make impact important aspects of your life for as long as you practice. There are way easier ways to make money. One example: do a comparatively easier 4-yr undergrad in business and start with a bank straight out of school (they scoop up lots of new grads willing to move around). In the same ~15 years you can move into a senior position in finance or M&A and make comparable money. It's not easy or guaranteed but IMO easier...
    - Mythological 7y ago
      Medicine is the single most reliable path to the upper-middle class in America. Sure the other things you described are possible but honestly unlikely unless you have an Ivy League undergrad.
SkyPuncher 7y ago
My wife is a resident. The salaries look nice when they're windowed to a single year. Career earnings, it's good but not that great compared to tech - especially when you consider the hours and stress. * 4 years of med school - $0 income - $40k+ of tuition * 3+ years of residency, minimum (4+ for most fields, even more for surgery) - $60k/year ------ If my wife had gone straight into tech, we'd have been better off financially until our 50's. 30 years is a long, long time to break even.
- modsWrk4Appl 7y ago
  160k of tuition. 80k x 4 = 320k lost wages. 30k x 3 Delta wages. 500k in costs before your first year of big earnings. You said 30 years. I'm counting 2. Disingenuous.
  - marcinzm 7y ago
    There’s some interest in there as well which adds up over 7+ years. Plus how much his wife makes depends on her specialty and the potential salary in tech is also wide. You can make $400+k at a large tech company faster than a doctor can even begin practicing.
  - ses1984 7y ago
    If you are smart enough and tough enough to go through med school and become a doctor you can easily earn $300k-$500k per year in tech, with much less stress.
  - SkyPuncher 7y ago
    > 160k of tuition. Missing interest - unless you really want to fuck yourself in the short term. 160k of tuition costs more like $300k with the standard payment play. Good luck if you have undergrad debt. Could easily add $500k more to your debt load. > 80k x 4 = 320k lost wages. Try a number closer to $400k. Also a good portion of MD's take a gap year for research either during med school or before residency. Potentially adds a year. > 30k x 3 Delta wages. 3 years is for family medicine, most other specialities are 4 years - so add a year. Surgery is more like 8 years. This wage delta is more on the order of $80k to $100k+ per year. I have friends who are closer to $150k+ per year wage gap compared to their MD spouses. For my wife and I this number will be $400k. $300k + $400k + $400k = $1.1m+ difference. > You said 30 years. I'm counting 2. You're counting two because you're only looking at salary and not the salary difference. I'm counting 15 at minimum on a pure salary income. My wife is also working 80/hours week. I'm working 40. It will take into our 50's before my wife makes more on a per hour basis than I do. If I worked 80 hours per week, my wife would never catch up.
caycep 7y ago
only with specialists/subspecialists w/ procedures, or surgeons. And if not, prepare to spend a lot of overnights. Family med say $120k starting, Internal med $200k Each extra $25-50k is like another year of training at $50k.
- Scoundreller 7y ago
  Unsure what the US situation is, but there are a lot of benefits to earning $120k/year in a business/professional corporation vs. a salary. At least in Canada anyway.
  - nmcfarl 7y ago
    In the US the vast majority of family docs and internists work on salary, so the benefits do not apply.
  - refurb 7y ago
    My understanding is the tax code in Canada is pretty unique when it comes to doctors.
    - Scoundreller 7y ago
      It’s not quite as great as it used to be, but the provinces do have a history of changing corporation laws in their favour. And often get their liability insurance paid for too.
      - refurb 7y ago
        Yeah, and I’ve heard there is talk about rolling some of that back even further.
- moneywoes 7y ago
  What year are your numbers from?Per medscape 2019 study average compensation is 330k. Q1 around $250k iirc.

But the 300-500k/ yr income is nice. Plus you are the only profession that can legally write prescriptions and do some services. The power of the medical cartels has intangible benefits too.

stbtrax 7y ago

you can make that salary at a big tech company

jjeaff 7y ago
I would guess the number of doctors making that range would be at least an order of magnitude more common than tech workers but I could be wrong. Additionally, the bay area in the US is essentially the only place in the world you can make that kind of money in tech.
- nogabebop23 7y ago
  If you're going into medicine for the money you are making a huge mistake. The front-side effort, commitment and cost is massive, and depending on your field it make impact important aspects of your life for as long as you practice. There are way easier ways to make money. One example: do a comparatively easier 4-yr undergrad in business and start with a bank straight out of school (they scoop up lots of new grads willing to move around). In the same ~15 years you can move into a senior position in finance or M&A and make comparable money. It's not easy or guaranteed but IMO easier...
  - Mythological 7y ago
    Medicine is the single most reliable path to the upper-middle class in America. Sure the other things you described are possible but honestly unlikely unless you have an Ivy League undergrad.

SkyPuncher 7y ago

My wife is a resident. The salaries look nice when they're windowed to a single year. Career earnings, it's good but not that great compared to tech - especially when you consider the hours and stress. * 4 years of med school - $0 income - $40k+ of tuition * 3+ years of residency, minimum (4+ for most fields, even more for surgery) - $60k/year ------ If my wife had gone straight into tech, we'd have been better off financially until our 50's. 30 years is a long, long time to break even.

modsWrk4Appl 7y ago
160k of tuition. 80k x 4 = 320k lost wages. 30k x 3 Delta wages. 500k in costs before your first year of big earnings. You said 30 years. I'm counting 2. Disingenuous.
- marcinzm 7y ago
  There’s some interest in there as well which adds up over 7+ years. Plus how much his wife makes depends on her specialty and the potential salary in tech is also wide. You can make $400+k at a large tech company faster than a doctor can even begin practicing.
- ses1984 7y ago
  If you are smart enough and tough enough to go through med school and become a doctor you can easily earn $300k-$500k per year in tech, with much less stress.
- SkyPuncher 7y ago
  > 160k of tuition. Missing interest - unless you really want to fuck yourself in the short term. 160k of tuition costs more like $300k with the standard payment play. Good luck if you have undergrad debt. Could easily add $500k more to your debt load. > 80k x 4 = 320k lost wages. Try a number closer to $400k. Also a good portion of MD's take a gap year for research either during med school or before residency. Potentially adds a year. > 30k x 3 Delta wages. 3 years is for family medicine, most other specialities are 4 years - so add a year. Surgery is more like 8 years. This wage delta is more on the order of $80k to $100k+ per year. I have friends who are closer to $150k+ per year wage gap compared to their MD spouses. For my wife and I this number will be $400k. $300k + $400k + $400k = $1.1m+ difference. > You said 30 years. I'm counting 2. You're counting two because you're only looking at salary and not the salary difference. I'm counting 15 at minimum on a pure salary income. My wife is also working 80/hours week. I'm working 40. It will take into our 50's before my wife makes more on a per hour basis than I do. If I worked 80 hours per week, my wife would never catch up.

caycep 7y ago

only with specialists/subspecialists w/ procedures, or surgeons. And if not, prepare to spend a lot of overnights. Family med say $120k starting, Internal med $200k Each extra $25-50k is like another year of training at $50k.

Scoundreller 7y ago
Unsure what the US situation is, but there are a lot of benefits to earning $120k/year in a business/professional corporation vs. a salary. At least in Canada anyway.
- nmcfarl 7y ago
  In the US the vast majority of family docs and internists work on salary, so the benefits do not apply.
- refurb 7y ago
  My understanding is the tax code in Canada is pretty unique when it comes to doctors.
  - Scoundreller 7y ago
    It’s not quite as great as it used to be, but the provinces do have a history of changing corporation laws in their favour. And often get their liability insurance paid for too.
    - refurb 7y ago
      Yeah, and I’ve heard there is talk about rolling some of that back even further.
moneywoes 7y ago
What year are your numbers from?Per medscape 2019 study average compensation is 330k. Q1 around $250k iirc.