Quote from heech:
95%+ of those who make it into med school will make $150k+ a year after residency, with some specialists making $500k-$1.5mm a year...
Again, my wife is a physician in training with job offers in hand... and I know many, many physicians. There are simply no "unemployed" physicians (assuming basic competency, i.e. board eligible/certified).Quote from Hydroblunt:
Not true nowadays. Don't be surprised to see med grads suing the med schools in years to come, similar to the lawsuits filed by recent law school grads against their schools.
To make good money as a specialist, you have get into a good established practice or have the capital to start your own. Otherwise, you are unemployed.
I'm tired of reading heech's bs, especially when he only talks about the pros of the profession. Before anyone goes off to try and get the MD degree, I suggest they read up on the negative aspect of the profession and factor that into their decision. I provide links to counter heech's bs below:Quote from heech:
Again, my wife is a physician in training with job offers in hand... and I know many, many physicians. There are simply no "unemployed" physicians (assuming basic competency, i.e. board eligible/certified).
Private practice is rapidly disappearing, replaced by larger medical chains. That does mean it's harder for a cardiologist to make $1mm+, or a FP to make $500k+.... But as long as the payers are there (i.e., US government) paying a guaranteed rate for procedures / visits, then base physician compensation will not change.
Medicine is a completely different animal from law.
Quote from heech:
Again, my wife is a physician in training with job offers in hand... and I know many, many physicians. There are simply no "unemployed" physicians (assuming basic competency, i.e. board eligible/certified).
Private practice is rapidly disappearing, replaced by larger medical chains. That does mean it's harder for a cardiologist to make $1mm+, or a FP to make $500k+.... But as long as the payers are there (i.e., US government) paying a guaranteed rate for procedures / visits, then base physician compensation will not change.
Medicine is a completely different animal from law.
One thing that's really scary about medicine... if you piss off the wrong people in residency, they can destroy you. They can end your career, and essentially end your life. Residency directors + attendings have the complete, total authority to permanently make you unemployable as a physician, while you still have your $250k in debt to deal with.Quote from Soon2Bgreat:
Anecdotally, I'm also told it's a very systematic career path (medicine). This can be a negative if you're caught on the wrong side and is also very political in nature. Practically I don't know how true that is.
...imo, I'd be more interested in the private field of medical innovation/advancements. There looks to be lots of opportunity on this front in the coming years.
Not that it matters...but all I will say is that it's been taking off and taking off fast. And I didn't have to pay 5 figures of debt to figure it out.Quote from heech:
Utoh, jinxu is tired of my BS... devastating. How's your guaranteed profit strategy doing, by the way? If you haven't sold it yet, I'll buy it. How about I bid however much you made trading it over the last 12 months?
You really have to quantify that. I'm not "everyone", and I'm not saying its a "magic cash cow".Quote from Hydroblunt:
My fiancee is a specialist of almost 10 years. Medicine is not the magic cash cow everyone thinks it is.
I partly agree with you, but I also strongly disagree with you.
When you factor in the costs of med school, it's actually not a wise decision to pursue medicine unless you parents or close family friends are handing you a practice, you have capital to buy/start a practice or you have an absolute passion for the profession (which most med students nowadays do not, they just think money). 10-20 years ago, it was not like this.
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.