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I don't think it's true for doctors, the wealth there is more distributed.

by rtx 6y ago

ghaff 6y ago
Some professions are lottery professions. Others aren't. I suppose a lot of it is a demand/supply thing. Also independent contractor vs. employee. Not to say employees all make a lot of money. Janitor probably makes a fairly predictable minimum wage level in the US. On the other hand an employed software developer or other engineer might have a 5-10x wage disparity (even within a given country) for various reasons. But it won't be an "actor" waiting tables versus an A-list celebrity.
geodel 6y ago
Once you expand this to doctors all over the world. This will become definitely true. There are enough doctors in third world who make < $10K a year.
vlovich123 6y ago
Even in the West, a doctor who becomes the CEO of a successful medical supplies company or the administrator for an upscale hospital will make more than a doctor running their own practice who make more than a regular doctor employed by a corporation. Keep in mind there’s also a wide variety of “medical practitioners” like chiropractors, therapists, various “unlicensed medical practitioners” who practice eastern medicine etc. Even within traditional medicine you’ve got your small GP whose struggling to keep their practice afloat (it’s a regular business) and extremely wealthy surgeons or other doctors who identify a niche they can make extremey lucrative (eg unscrupulous pain management doctors who process high volume and low effort clients). There’s a wide variety of outcomes even after the great filter that are MCATs and medical school. For example, Thomas F. Frist Jr. is worth ~13 billion. Now granted at those levels he’s more an entrepreneur/businessman as all such people are. Still, the difference between his net worth and a regular GP making $400k is probably about the same difference as a musician worth $300 million and a musician making $200/year.

I don't think it's true for doctors, the wealth there is more distributed.

by rtx 6y ago

I don't think it's true for doctors, the wealth there is more distributed.

Some professions are lottery professions. Others aren't. I suppose a lot of it is a demand/supply thing. Also independent contractor vs. employee. Not to say employees all make a lot of money. Janitor probably makes a fairly predictable minimum wage level in the US. On the other hand an employed software developer or other engineer might have a 5-10x wage disparity (even within a given country) for various reasons. But it won't be an "actor" waiting tables versus an A-list celebrity.

geodel 6y ago

Once you expand this to doctors all over the world. This will become definitely true. There are enough doctors in third world who make < $10K a year.

vlovich123 6y ago

Even in the West, a doctor who becomes the CEO of a successful medical supplies company or the administrator for an upscale hospital will make more than a doctor running their own practice who make more than a regular doctor employed by a corporation. Keep in mind there’s also a wide variety of “medical practitioners” like chiropractors, therapists, various “unlicensed medical practitioners” who practice eastern medicine etc. Even within traditional medicine you’ve got your small GP whose struggling to keep their practice afloat (it’s a regular business) and extremely wealthy surgeons or other doctors who identify a niche they can make extremey lucrative (eg unscrupulous pain management doctors who process high volume and low effort clients). There’s a wide variety of outcomes even after the great filter that are MCATs and medical school. For example, Thomas F. Frist Jr. is worth ~13 billion. Now granted at those levels he’s more an entrepreneur/businessman as all such people are. Still, the difference between his net worth and a regular GP making $400k is probably about the same difference as a musician worth $300 million and a musician making $200/year.