Medicine or Wall Street?

I have several good friends who are physicians. They had to show incredible drive and discipline to get to reach their goal. Reading your post I don't get the impression that you possess that kind of motivation.

Whatever choice you make it should be because you are driven by your interest and passion for the work.

At the moment you lack maturity. Hopefully that will change as you age. IF you are as smart as you portray yourself, you will take the time necessary to find out where your true interests and passions lie. If you are lucky, you will find out BEFORE the events of life overtake you.

Good luck,
Steve
 
I believe I have the drive and discipline to become a physician, I just want to weigh my options and see which path would be better, I'm only asking for your honest opinions.

I don't understand why some people think doctors shouldn't go into the field for money. If one wanted to help and treat people and still earn good money, what's wrong with that? Being a doctor is just like any other job.
 
Quote from dazed101:

Being a doctor is just like any other job.
More...

Ummmm...

Flipping burgers or counting money is VERY different from having a few minutes to save a persons life, and can mean life or death.

I really don't think you understand what you are getting into. You mention you want the money, I think you are looking at the prize without the work involved, just like over 75% of all traders that fail do at least.

I think you should consider another career, I have an older cousin that is a doctor, and he is really dedicated with what he does, and really does care about it, I've never heard him mention about the money, I actually never even asked how much he makes.

He is a real down to earth kinda guy though.

Just seems like you want to be a Dr. for the wrong reasons, probably will result in failure, just like so many that trade for the wrong reason, which leads to their ultimate failure in this game. But being a doctor is..... well, it's a big deal to say the least, and to talk about trading and making money, doesn't fit the puzzle.

But I don't know anything, so ignore everything i said above :D
 
I have a feeling I know what I would get myself into IF I pursued medicine as both of my parents are doctors.

I completely understand the steps required and the Extracirculars needed to get into medical school. I have great grades and I did some Alzheimer's research with another doctor this past year as a high school senior.

I don't really understand Wall Street, does anyone know of a trader personally who is in New York who has traded very well?

The point of this thread is to suggest whether I should go into Medicine or Wall Street.
 
Quote from dazed101:

The point of this thread is to suggest whether I should go into Medicine or Wall Street.
More...

Well, roughly 90% and above fail at trading for a living.

You are getting ready to go to an amazing school and can afford it.

Do you REALLY need someone to give you the right answer, because as a doctor in the emergency room, you have to make the real decision!

*I'm just making light of the situation :p*

C'mon, this is a no brainer.
 
hehe, thanks, but I don't pay attention to the odds. :D

Maybe I can do both? I guess the doctor will always have more respect from others.
 
Quote from dazed101:

hehe, thanks, but I don't pay attention to the odds. :D
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You are obviously not a poker player?


Seriously though, continue your education, learn how to position/swing trade.

You are going to be a doctor? You are going to make a lot of money, or at least a lot more than the average joe. You can easily save that money and put it into solid investments and 20 - 30 years from now can have it made. You go the trading route, maybe 5 - 10 years you could have it made depending on your risk.

But, again, over 90% fail at trading. Meaning, if you spend 5 to 10 years trading, and you blow it all, can you really go back to college and start all over? It would be tough.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=69400

Check that thread for an example, of someone in there 30's who has been trading for the past 5 years, 5 years experience and he is hanging it up, and is worried about finding a job.
 
thanks for your comments, I think I have decided that I'll pursue a economics degree with a premed concentration and apply to medical school. If I get into med school, I'll go. If I somehow get recruited by a big banking firm, then I'll go there.

Thanks and good luck to all!
 
Interestingly enough, I have been waiting for a post like this.

Congratulations on your ability to be able to attend med school in the U.S. My next door neighbors daughter was unable to get into a U.S school for medicine and is currently in the bahamas studying
for $60 K U.S a year.

The only adequate metaphor for success as a trader would be the following. I live in a city with 76,000 population. I imagine that there is at least 300 doctors in my city, and 50 or so specialists.

Though I have not met a single trader here that trades for a living, lets pretend there is. Therefore, your odds to become a successful trader, versus a doctor making 200k + is 1/ 300.

My analogy is simple for simplicities sake.

In a larger city, you may find 10 , 20, 40 traders, but how many make more than a specialist? You seem smart enough to recognize odds, and the fact that trading a system in an automated matter may supplement your income as either a:

head nurse

doctor

specialist.....

You have alot ahead of you and it may be premature to give that up. I'm sure you could make a good portfolio manager or a trader
but not all portfolio managers or traders make that much.

Not to mention that trading in certain areas is a zero-sum game and offers little or nothing in terms of what is beneficial to human life... I would say go with your passion regardless of the assessment.
 
Quote from dazed101:

I'm graduating high school soon, and I'll attend a top university next year in America. It has a top 3 business school and a great econ department, it's very strong overall.

My problem is should I pursue medicine or try to get a job on wall street as a trader?

I know I can become a doctor and if I specialize in the right field I'll be making around $500,000 by the time I'm 32ish with potential to earn more later on.

However, I realize that good wall street traders can earn millions in their twenties! Money is not everything but the lure of millions is too great.

I don't know what to do career-wise (any suggestions?) I'm only asking this because the two fields are so different and I'll have to do different things if I'm to prepare myself.
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Am I missing something here? Why do you need to make this decision freshman year. Keep an open mind. Take your bio and chem classes along with some econ/math classes and you'll see which you enjoy most. If you don't have passion for either trading or medicine, you'll fail at both. A solid background in the sciences will not preclude you from getting a job at an ibank or trading firm. However, without those classes you'll have no shot at med school.
 
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