<p>The</a> Deceptive Income of Physicians</p>
<p>How true is this article? I'm a high school senior and I'm trying to decide between engineering or medicine.</p>
<p>[Physicians</a> may make less than high school teachers??? | Pre-Medical Allopathic [ MD ] | Student Doctor Network](<a href=“Physicians may make less than high school teachers???? | Student Doctor Network”>Physicians may make less than high school teachers???? | Student Doctor Network)</p>
<p>Somewhat related: Dad<em>of</em>3 posted this link at:</p>
<p><a href=“http://talk.collegeconfidential.com/13787515-post335.html[/url]”>http://talk.collegeconfidential.com/13787515-post335.html</a></p>
<p>Another interesting question is: If a student is from a top 1% family, what does (s)he more likley major in? I think it is likely not an engineering major. (An interesting anecdotal example: Many years ago while more than half a dozen of my engineering coworkers were sitting at a large lunch table for a break and the topic to discuss happened to be about the high school experience in US, we found out only one person out of 7 or 8 people actually received his high school education in US. None of us are rich. The one who was graduated from an engineering school, and used to be a tenure professor for most of his life and became an engineer – as his second career, after his had retired from his professor job, drove a small Toyota! Not poor but definitely not very rich.)</p>
<p>If the major difference in your mind between engineering and medicine is money, then you should definitely go into engineering. You will be out of training as much as 10 years earlier with only a fraction of the sacrifice (personal, physical, and financial).</p>
<p>No question; if money is your deciding factor, go into engineering. Medicine is one long grind before you(potentially) see any serious $$$.</p>
<p>Here is another side of the story from NY Times, doctors making the most of all professions.</p>
<p>[It’s</a> Not Just the Degree, but What You Study - NYTimes.com](<a href=“http://economix.blogs.nytimes.com/2011/08/04/its-not-just-the-degree-but-what-you-study/]It’s”>It's Not Just the Degree, but What You Study - The New York Times)</p>
<p>Engineers are OK but hardly the best profession. The Economist (Jan 21 issue) shows that medical profession accounts for about 15% of the 1% richest Americans. CEO’s may have higher salaries for a few years. Medical doctors will have 30 years of steady income. Unless you are extremely talented, a medical degree is still hard to beat.</p>
<p>I think having conversations about salaries without thinking about estimated hourly wage is a bit misleading. For example, in my year off between college and MD/PhD, my salary was about half as much as my friend’s who went into banking yet our “hourly wages” were the same when you consider how many more hours they had to work. I was certainly able to enjoy my salary more so than they were.</p>
<p>Finance does not require med school (negative income, LOTS of hours) or residency (relatively low income LOTS AND LOTS of hours)</p>
<p>My understanding is that doctors still do well, but the specialists (surgeons, cardiologists, GI, radiology) do the best. Primary care docs work hard, see lots of patients, but rarely get paid more than $200,000. I hear orthopedic surgeons can make $400,000 easily, but probably depends on location and lifestyle. If you are going into medicine for the money, then maybe consider another easier profession.</p>
<p>the above advice is correct- don’t enter medicine for the money. not worth it. do it if you have the passion for science or helping others. you basically give up 7+ prime yrs in a grueling grind (med school/ residency). it’s not much better when you get out. i worked 80+ hrs/ wk for the first 7 or so years as a family doctor. in short, it’s hard work, stressful, risky b/c you can get sued even if you did nothing wrong and less ‘lucrative’ each year as we look for more ways to cut healthcare costs as a nation.</p>
<p>I absolutely agree with PizzaFatFace–one favorite saying is “going into medicine for the money is like climbing Mt. Everest to get some fresh air.” There is so much uncertainty about reimburesement in the future. Go be an investment banker or hedge fund manager or something if all you care about is how much you make. However, if the idea of being a doctor excites you, consider going for it. I love my job (OTHER than dealing with insurance companes, risk of being sued and other bureaucratic BS). But there are real sacrifices getting there–not only paying for med school but up to 7-8 years of being very underpaid as a resident or fellow. And also don’t discount the continued impact on lifestyle. I am on the very mildest end of things, working every 5th weekend or so and a couple of weeknights a month–but I have a colleague who just turned 60 and is working essentially every other night call.</p>
<p>The average salary of a pediatrician in the US is $148,000. Doctors really don’t make as much as everyone thinks they do. Nevermind the huge debt and time commitment.</p>
<p>[Medscape:</a> Medscape Access](<a href=“Medscape: Medscape Access”>Medscape: Medscape Access)</p>