4 ms·
While I've not run the numbers, when you adjust for the costs and lost wages from: * 4 years of undergrad * 4 years of medical school * 3+ years of residency
by nickbarnwell 14y ago
While I've not run the numbers, when you adjust for the costs and lost wages from:
* 4 years of undergrad
* 4 years of medical school
* 3+ years of residency
And the potential upside for a plumber who starts his own business or perhaps branches out into general contracting, it would not surprise me if total lifetime wages adjusted for education expenses were fairly close.
- runako 14y agoThis is a commonly made false comparison: employed physician vs. self-employed plumber. You've combined two jobs (plumber + small business manager), then assumed that the plumber is better than competent at both. This will not compare favorably at the margin if you compare e.g. to a surgeon who opens a plastic surgery practice, or uses his surgical skill to found Intuitive Surgical. Either compare averages or admit that there's no point comparing when you already know the outcome you want.
- nickbarnwell 14y agoFor what it's worth, I agree it's a poor comparison. I posted as much to ponder how it might have arisen during the interview as to address the GP's statement "that plumbers make as much as doctors is insanely inaccurate"