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The average medical student graduates with >$200k in debt, with medical residents earning an average of about $60k. But med student debt isn’t a problem because
by baron816 5y ago
The average medical student graduates with >$200k in debt, with medical residents earning an average of about $60k. But med student debt isn’t a problem because doctors earn much much more after completing their residency.
The article says “entering a job market that pays less than $30,000.” That doesn’t mean that masters holders earn that on average, or that that’s what they’ll be earning mid career.
Not to say that masters degrees aren’t a scam, nor that the article is being intentionally deceiving. But my guess is that it’s not quite as life destroying as it appears.
- lazide 5y agoIn many cases it’s disingenuous to argue that everyone will be in the same place as a medical student? I know someone who spent similar amounts on a UX masters degree, and almost decade later was only finally hitting 100k/yr - in the SF Bay Area. Which cost of living/free cash flow perspective is probably even worse than your $60k/yr med student.
- baron816 5y agoI’m not. What I’m saying is that you can’t compare someone’s debt level to their expected earnings one or two years out. It still entirely possible that masters degrees are a very bad deal, but the figures they show don’t fairly demonstrate that.