4 ms·

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 - especial

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.
  - moneywoes 7y ago
    What is your profession and what speciality is your wife in?
deleted 7y ago
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Mythological 7y ago
> Career earnings, it's good but not that great compared to tech We are in a strange time when software engineer salaries can even be comparable to those of doctors. Rest assured that sooner or later tech workers will be middle-class schlubs like pretty much every other type of engineer.
- sfj 7y ago
  I disagree, software scales much better than, say, designing a bridge.
- SkyPuncher 7y ago
  I work remotely in the Midwest. I'm paid well, but I'm definitely not too far off from my physical engineering peers.
- burntoutfire 7y ago
  The idea that doctors need to make huge amounts of money compared to almost everyone else is very American. Here in Poland, doctors up until very recently were paid not much more than the country's average wage. Now it's more diversified, especially with short-term contract positions paying much more than that - but regular jobs at a hospital still don't pay more than 3x the national average.
robk 7y ago
In the UK you have no debt but salaries for the first ten years generally don't go over 50k per year which makes living in a major city and having children unsustainable

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.
- moneywoes 7y ago
  What is your profession and what speciality is your wife in?

deleted 7y ago

[deleted]

Mythological 7y ago

> Career earnings, it's good but not that great compared to tech We are in a strange time when software engineer salaries can even be comparable to those of doctors. Rest assured that sooner or later tech workers will be middle-class schlubs like pretty much every other type of engineer.

sfj 7y ago
I disagree, software scales much better than, say, designing a bridge.
SkyPuncher 7y ago
I work remotely in the Midwest. I'm paid well, but I'm definitely not too far off from my physical engineering peers.
burntoutfire 7y ago
The idea that doctors need to make huge amounts of money compared to almost everyone else is very American. Here in Poland, doctors up until very recently were paid not much more than the country's average wage. Now it's more diversified, especially with short-term contract positions paying much more than that - but regular jobs at a hospital still don't pay more than 3x the national average.

robk 7y ago

In the UK you have no debt but salaries for the first ten years generally don't go over 50k per year which makes living in a major city and having children unsustainable