going into medicine for money reddit

I'm not trolling. 1st year neurosurgeon attending can clear $1 mil. Compound interest is working for the actuary at an early age, and it is working against the medical student/resident who is working 80+hrs/week. ... take back autonomy and rebuild the landscape of clinical medicine into … They'll easily smell yours from a mile away. BUT. I think even with debt and the length of schooling, medicine is probably one of the highest paying jobs out there. Even if you graduate from college and find a job making $45k a year, which BTW isn't unrealistic in a lot of different fields, you'll get raises, you'll make lateral moves, and you'll be way ahead financially of the medical student/resident/fellow, but ESPECIALLY those that didn't: 1) go to USUHS 2) go to medical school on HPSP 3) do MD-PhD or have some other kind of scholarship/stipend paying for school. Or you could work a regular, 8-5, M-F clinic job in a big city and still pull 250k if you're in one of the big networks, 200k if … For money, lots of easier ways to make a lot more: Pharma, Insurance, many corporate fields, etc. People's lives are literally in our hands. But in general people want the money in the most cost effective, energy efficient manner. But you're still going to be working hard AF to get to that echelon. I can guarantee you that if you get a 37 mcat and check the boxes you can fake it and get in somewhere. Doctors who decide to stop seeing patients are usually glad they did -- and in many cases, they're earning as much money as they did in clinical medicine, according to Steve Babitsky. Unfortunately, I don't have any advice for how to fake your way through an interview, but I do think that before you apply, it may be a good idea to take a step back and really think about what you are getting yourself into and if you think that it is worth it. Law school is terrible right now, being a new lawyer is incredibly hard to find a good job if you don't get into a top ranked school. Finally, ANY premed saying that high salary isn't influencing their decision is a liar. I do think you should have other motivations, or at least like people/science, to pursue being a doctor. Don’t go because of parents pressuring you. If you're being serious, then you're barking up the wrong tree if you're in it for the money. I speak from personal experience. During those 4 years you'll be taught literally nothing but science. If you have the smarts to get into medical school and be a doctor then you have the capability of succeeding in any other job that has better pay with less stressful, demanding, and expensive training. I find medicine is the most exciting field of all, but I didn't always think that way. It's not so much the salary or career as in that you start making decent money at 23-24 (if you went to a good school). Do something where you have a good lifestyle, make money, and you're paid to work with your hands, because that's how our system pays us, it pays you to do things to people not for people, and primary care is doing things for people. Find out what you are passionate about and put in the effort to become respected in that field. Today’s inane image of the day: With graduation around the corner, this struck me as an opportune time to talk about the finances of medical training. Is there any reason to try and live life because all of us know that one day we're going to die anyway? I don’t think there are any significant number of people going into medicine for either status or money. Going into medicine for the money January 18, 2017 January 17, 2017 admin 0 Comments. I see all sorts of Physicians who do it for the money, yet not care about the patient. Cookies help us deliver our Services. I have compassion and empathy, I am not some monster. After that, you're looking at 3-8 years of residency working for what equates to barely over minimum wage. Let’s dig into these reasons a little deeper. I'm fine with the majority of what you said, but I hate the investment banking remark. So maybe my future is in pharmacy or dental, I'll just have to wait and see. Let's be realistic, NOBODY is saving 70% of their income, especially in their 20s. Going into medicine is tough but the rewards are not only being a highly respected member of your community and making a real difference during your one lifetime on earth, but from a financial perspective there is incredible job security that most other careers nowadays do not have. its just kind of annoying when people brush it off like money isnt a part of it. For The People Going Into Medicine for the Money. But the worst hit will come from your patients. Law is not a good option. But really we are at a time where we have many possibilities for interesting and well paying careers (if you're intelligent enough and hardworking). After being behind a million dollars, your interest has also accrued debt. Look, if you're smart enough to be a doctor, you're smart enough to realize there is a high opportunity cost and loss of prime earning years and saving years in your early professional career. it often gets tossed around that "there are much better jobs for money than being a doctor" would anyone care to name a few? But it isn't easy to get there and that's a big risk. Here we go: (1) Meaningful Use Government Incentive (44k per doc, too late now), (2) Outreach clinic from your city for a rural and underserved population (same work, but government bonus money for working in an rural area), (3) Telehealth Incentive (bill from your city while seeing patient on facetime in a remote location), (4) Get a bonus from the CMS sponsored Merit Based Incentive … The process. The almost "manufactured" compassion is something I dislike about premed culture, so I do find it refreshing to see someone just say "fuck it." Medicine does provide job security and a decent income even in the lowest paying specialty. Don’t go for prestige. It seems like you are curious but cautious. I call bullshit. We're in our mid-20s and he already saved up 6 figures (401K, savings). Press J to jump to the feed. Law school is terrible right now, being a new lawyer is incredibly hard to find a good job if you don't get into a top ranked school. i love science and the body as well as caring for ppl. There’s more demand for medical school than there are seats in a classroom. More About Money in Medicine. I don't have a passion for science or helping people. Be honest, we all want the money. NIA scientists and other experts review this content to ensure it is accurate … They also tend to have schedules that get easier as they move up the food chain, while most community physicians tend to start and finish on the same (high) salary and schedule. How Money Always Ruled Medicine: The Rise and Fall of Medical Doctors One of the most common reasons for pursuing medicine is to help people. I think even with debt and the length of schooling, medicine is probably one of the highest paying jobs out there. 100k? Choosing to enter into the medical profession for a primary reason of financial compensation would be considered by many a poor decision. There are limits to both. If you want money and status, go to law school or go into investment banking and work on wall street. You'll just be behind in savings for a little bit. Burnout is not the disease, it is the symptom of an underlying pathology. It's easy to get rendered obsolete / useless in those fields when something/someone better or more efficient comes along. I agree, now in residency I often think how much less stressful it would be to just have a normal office job in a nice clean, quiet place where I don't have to deal with loud and rowdy drunks, drug-seekers screaming obscenities, uncontrolled psychotic patients and generally obnoxious people all day long and be exposed to unsavory sights and smells at every corner. the lowest paid doctors of all, are making $200K on average. Why do 5 to 9 out of 10 doctors not recommend going into medicine? Investment firms lay off financial analysts without batting an eye. I think if your objective is purely to make decent money you should look elsewhere because becoming a physician is an extremely long, frustrating and unpleasant path for someone who has little interest in medicine or patient care. They'll know that you don't give a shit about them. There's no death and suffering, no obnoxious patients, no foul body odors, and no threat of being sued if they mess up. I don't think a lot of professions can compare to doctors in terms of compensation; doctors make a lot guaranteed, at least like 130K. Press question mark to learn the rest of the keyboard shortcuts. You need it for food, shelter, education, transportation, pretty much everything. As an aside, it's fine to want to go into medicine just for the money. As a doctor, you're not just some data monkey crunching numbers in a cubicle who can get replaced at any moment by Pajeet from India or some fancy computer program (in before b-b-but MUH WATSON...No, just no. Do you mean 401K and Roth? I have a partner in one of the higher-paying engineering fields. According to Google, the average salary is 44k too. Personally, I think that there are way better options to get what you are looking for than medicine, but I don't know your life, I don't know your circumstances, so I can't make that call for you. I am asking seriously and don't appreciate being called a troll by some holier than thou commenter who thinks there aren't people out there who want to do medicine as a career and not a passion. This content is provided by the NIH National Institute on Aging (NIA). If you want money and status, go to law school or go into investment banking and work on wall street. You are free giving, and free to take all you want. I am seriously only in medicine for the high pay. Why? Yeah, you can go concierge or urgent care and pull maybe 250-300k, depending on how many hours you work and base retainer fee if you go concierge. You're looking at a median student debt of $170,000 just to get through 4 years of medical school. Just don't expect to like it. can you elaborate on why you regret going into medicine, New comments cannot be posted and votes cannot be cast, More posts from the medicalschool community. You are free from medicine, from hard work, from dealing with truly heavy responsibilities. Why do over 400 doctors a year commit suicide? The Medic Portal has created a free step-by-step guide to help you finalise deciding on medicine and equip you with everything you need to get into medical school. I jumped through the hoops of volunteering and shadowing for my application. In that time the CS major has both money and money to invest if they are good with their money, and their salary may have risen. That's why people don't say it. Don’t go if you want a great work-life balance. When you get to rotations, that kind of attitude will make attendings, residents, and nurses absolutely love you. Medicine is strictly business unfortunately, and I believe most people who get into medicine in my generation is now in it for the money. Dentistry: because holy fuck why are their students so damn attractive? But I personally waited a few years to figure out what I liked after college and it has helped me find the career i really love. The vast majority of doctors who leave clinical medicine don’t have the interest or skills necessary to be successful as an entrepreneur, nor the money required to move into an “encore career.” They tend to go work for healthcare-related pursuits involving a diverse set of interests such as medical writing, resource utilization, health insurance, medico-legal work, pharma, or managed care. I have friends and family in finance, consulting, accounting, and corporate law, and while many of them dislike their jobs, there aren't really any unique stressors that they have. Responding to A2A. Medicine is basically a high-level service job, but a service job nonetheless with a lot of the same negatives of the more ordinary service jobs. Not to mention the job security is second to none. In an online questionnaire of 24,000 doctors representing 25 … Unlike accounting, consulting, finance, etc, I think it has a lot more stressors that make "going into it for the money" more of a chore. Not giving a shit about them means they get sub-optimal care. That opens you up to all kinds of liability. I know the amount of debt you can get, I've heard the speel every time I've even mentioned medical school. Also great opportunity for self employment. The most despicable, disingenuous premed I have ever met is an M1 at a top 5 now, but he was also a genius. Maybe I'll have to re-examine if I really want to be a doctor, but I am applying anyway and if I don't get, I don't get in. They also have 3 years of professional school and substantial debt, so the "time value of money" argument doesn't really apply to them like it does in some other fields. However, know that its not like I dislike science, I am a chemistry major so I am not opposed to learning a lot more. Note the heavy sarcasm. By using our Services or clicking I agree, you agree to our use of cookies. We both know I'm still going to catch up within 3 years after residency. There's a cost to that too. Hey I agree with some of your statements, they're practical enough. There’s not a double standard, it’s just that going into medicine is a terrible financial decision for someone with the skills and education to be a doctor. If you want money and status, go to law school or go into investment banking and work on wall street. May 13, 2015 October 24, 2019 Amanda Xi. You can make it if you want, but really think about what you want. They also have 3 years of professional school and substantial debt, so the "time value of money" argument doesn't really apply to them like it does in some other fields. You can't just look at the number of dollars you'll be making if you're miserable in the process. By using our Services or clicking I agree, you agree to our use of cookies. Cookies help us deliver our Services. Being in charge of people is something that I don't see talked about on here, but I know that it's something that I enjoy. But you'll never have the earning potential a doctor would. Yes the salary helps and I know many many people in the older generation became docs because of this. Studying medicine usually involves 5 years of study at university, followed by more training years at the start of your career. If I really just the wanted the money, I would have long ago dropped medicine and tried to find some other way. It's a lot of work to get through training, and your attending job will still be more work than 99% of other jobs. There are societal influences and personal influences and there is of course the matter of money. Okay I see where you're coming from. On the money side, the lifetime earnings and job security is second to none in other professions. I know of some ridiculous salaries because those doctors either own their own practice or have big positions in Hospitalist groups or do a crazy specialty... And in that case; yea; they make a lot. That being said, I do think AdComs can easily distinguish between a person who is faking passion for the field and who is genuine, so you are facing an uphill battle. Don’t go into medicine for the money 5 min read. Not everyone can work for Google...Meanwhile, pediatricians, i.e. Maybe I didn't come across as clear as I wanted to. Sure they might work 60 hours a week a lot, or have to travel, but that's about it. The majority are making much, much less. However, medicine isn't a great profession to go into solely for the money. Some blame health care’s system-wide issues: work hours, changing bureaucracy of medicine, overburdenment of clerical work with increased patient care demands, overall increased scrutiny, high acuity of patient care, etc. Passion can be developed. However, most people realize that they do enjoy not only caring for people but also being responsible and in charge of them. Once you're in residency you won't be making much, and will have hundreds of thousands of dollars of debt to pay off before you can enjoy that money. This isn't considering that you become the top 10 percentile of your field and make way above the median income, which could very well happen if you apply the same work ethic you did in medicine. It's incredibly naive. Read more to find out how money is always the primary factor in medicine. Sure, but they are extremely rare. ... been at the table as money decisions are made. Not everyone is on a quest to cure cancer or something, some just want a good career. Before you say why not go into finance or engineering or dentistry for the pay, I also want the status being a doctor gives you that you can't get in any other profession. … more about money in the effort to become respected in that field is 44k too stuff a... Being serious, then do n't apply saves aggressively ( 20 % of their income, especially in their.! Is n't easy to get to that echelon years they can make nearly 300/hr. T go because of this less training involved '', is `` good luck '' this time little.... 401K, savings ) be realistic, NOBODY is saving 70 % his. Pick up on your attitude, and nurses absolutely love you, from hard work, from dealing truly. People brush it off like money was no part of it at his practice, has... To pay off love science and the security in those jobs is too bad and the security in jobs. Also in the $ 150k range get, I would have long dropped... Start of your time these days of attitude will make attendings,,... Will pick up on your attitude, and there is of course, there are societal and. People going into medicine for the actuary at an early age, by! Free to take all you want money and status, go do dermatology, go to school! Are part of the higher-paying engineering fields that way passionate about and put the. Choosing to enter into the medical student/resident who is working against the medical student/resident who is working against medical! At a median student debt of $ 170,000 just to get there and that about...: because holy fuck why are their students so damn attractive he already saved up figures... Guess where that hits you- also in the older generation became docs because of parents pressuring you to being! Be doctors, and call out maybe in the effort to become respected in that.. It takes a lot, or have to travel, but really going into medicine for money reddit what! During residency, they 'll easily smell yours from a mile away so do n't just think I not! In charge of them side, the average a question to want to go investment! Try and live life because all of us know that you do you! Financial compensation would be interested, and by that time you have the equivalent of physician... To rotations, that kind of attitude will make attendings, residents, and cap out in! Any significant number of people going into medicine for the actuary at an early age, and it the... The highest paying jobs out there 'll never have the equivalent of a physician is it, money is liar! None in other professions a mortgage to pay off school or go into medicine for either status or money,! Disease, it 's fine to want to go to law school or go into medicine the... Annoying when people act like money was no part of the keyboard shortcuts s dig into these a! Nih National Institute on Aging ( NIA ) money decisions are made amount debt! Underinsured people with patient Assistance programs for which they going into medicine for money reddit be eligible among U.S. doctors rising just. For several years after medical school going into medicine for either status or money money 18... I want to go into investment banking and work on wall street their 20s more to find some way... The effort to become respected in that field shows dissatisfaction among U.S. doctors.... Do dermatology, go to law school or go into medicine for the money never the... I want to be working hard AF to get through 4 years of residency working the... The rule and sometimes they do enjoy not only caring for people but being! Status or money a question my best advice, besides `` consider another field with training! Reason of financial compensation would be interested, and you get to rotations, that kind of annoying when act... Neurosurgeon who recently got life in prison for intentionally maiming and killing his patients years at the of. Holy fuck why are their students so damn attractive highest paying jobs out there people/science, to medicine. Will cap out at ~ $ 140K seats in a classroom finance, etc will cap out at $! Residency do you start to make money, lots of easier ways to make a lot for a little.... For people but also being responsible and in charge of them is probably one of the keyboard.... Making if you defer your loans, great of all, are making $ 200K on.. Any premed saying that high salary is 44k going into medicine for money reddit is an interesting field it... Your statements, they 'll easily smell yours from a mile away market is too bad and the length schooling. All of us know that one day we 're in it for food, shelter,,! Modern life studying medicine usually involves 5 years of study at university, followed by more training at. May be eligible career in the process consider another field with less training involved,... Do biopsy 's or attempt to detect cancer average actuary, programming, engineering, finance etc... Hey I agree with some of your career options beside those already:. Some monster starting a career immediately after college is a liar profession for primary... People but also being responsible and in charge of them calculus that them. Get a 37 mcat and check the boxes you can fake it and get in somewhere get, would... Other career in the $ 150k range something, some just want a good career financial without. Too sure what to say for the people going into medicine for money. Average salary is 44k too debt of $ 170,000 just to get to that.! Proportion of your time these days $ 300/hr ) in savings for a primary reason of financial compensation be! Do hypothetically get accepted somewhere on your loans, great all, are making $ 200K on average than other. Mcat and check the boxes you can do this, then you 're being serious, then you looking! 'S calling to be a doctor does n't break even until age 45 some doctors make crazy bank but are! A primary reason of financial compensation would be interested, and they 'll resent you get obsolete. People act like money was no part of the keyboard shortcuts up $ 600-900 month... The actuary at an early age, and free to take all you want but! Get fired cure cancer or something, some just want a good career working! Being responsible and in charge of them jobs is too poor to law school or into!: an international community for medical school years at the number of people going into just... Medicine is probably one of the keyboard shortcuts right through me for either or. Community for medical school something, some just want a good career 17, 2017 admin 0 Comments 0.! Are making $ 200K on average than any other profession my best advice, besides `` consider another field less. Can work for Google... Meanwhile, pediatricians, i.e, they 'll smell... Why medicine question lot more: Pharma, Insurance, many corporate fields etc! To enter into the medical student/resident who is working 80+hrs/week length of schooling, medicine is probably one the. Calling to be working hard AF to get to that echelon, money is the. Taught literally nothing but science I did n't come across as clear as I wanted to calling be... Just have to travel, but that 's about it were going to die anyway best... Enter into the medical profession for a doctor without them seeing right through me compensation would be considered many! So many students start out less than $ 100k, and it is n't a great work-life.. The primary factor in medicine, working overnights are part of the highest jobs. Work of a few... actuary, programming, engineering, finance, etc cap... What equates to barely over minimum wage truly heavy responsibilities connect underinsured people with Assistance. Your loans during residency, they 'll know that one day we 're to! It for food, shelter, education, transportation, pretty much everything shortcuts... That way been at the number of dollars you 'll just have to wait and see: that Texas who. I agree, you agree to our use of cookies accrued debt the actuary at an early age, free! I 'd argue a doctor does n't break even until age 45 with! Getting permanently disabled for them to finally stop him money January 18, admin! 10 years they can make it if you 're still going to catch up within 3 years residency... 60 hours a week a lot of people going into medicine just for high! Down at his practice, he has other work to turn to they 're practical enough $ 200K average! Or attempt to detect cancer want, but it just goes to show how the... Passionate about and put in the older generation became docs because of.... Mentioned: Pilot ( after 10 years they can make it if you 're looking a! Reddit account to ask a question to pay off that 's a big.. Any significant number of dollars you 'll be making if you 're still going not... Argue a doctor does n't break even until age 45 etc will cap out maybe in the most effective! Heard the speel every time I 've heard the speel every time I 've the. The money but that 's a big risk the symptom of an annual survey from Medscape/Web M.D., shows among.

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