<p>"I should note that unsuccessful business people tend to be much worse off than average doctors."</p>
<p>You're comparing unsuccessful businesspeople to average doctors. Compare an unsuccessful businessman to an unsuccessful doctor, and both are in bad shape. An unsuccessful doctor can lose a HUGE malpractice case just as an unsuccessful businessman's company can go under with unlimited liability.</p>
<p>One thing to take note of here is that doctors, at least the good ones, are usually business people in their own right (sales person comes to mind). The most successful people (monetarily speaking) in the world, barnone, are people who learned to do business well. Anybody disagree?</p>
<p>"The same person who is successful enough to make $250k starting as a doctor is equally capable of making that amount or more in the business world after 8 years(for example: ibanking)."</p>
<p>Unless something changed, I don't think Med School takes 8 years. A business person would only have about 4 years of additional earnings before the doctor. And, again, the numbers were just to exemplify to process--I'm not saying one is better than the other. It depends on the person, their situation and what types of opportunities they have.</p>
<p>"Furthermore, the doctor will have to pay off his medical school loans, plus catch up all the salary that he didn't make in the 8 years he would have if he had been working in business."</p>
<p>I believe I mentioned all of this.</p>
<p>"When its all said and done, the successful business man will make more than the successful doctor."</p>
<p>You certainly don't know that. While finance jobs may have a greater range of salaries, physician's have higher average earnings (there is more certainty in what they will earn). You'll be hard pressed to find a doctor making under $100k a year, but you'll find plenty of people with undergrad finance degrees making under $30k.</p>
<p>umm ... the median FAMILY income in the US is something like $40k/year .. do the salaries in the survey really look that low to you? </p>
<p>If you are talented, work hard, work smart, and help your boss look good you will suceed just fine in business.</p>
<p>Heck, you'll succeed anywhere.</p>
<p>Citigroup's former CEO makes 1000k/Year but he had about 1.5 billion in his account. Is it because he has shares? Do you guys know the policy and benefit for workers in top banks? How can they get a piece of the pie?</p>
<p>Here's some info with Citi</p>
<p>
[quote]
Citigroup's two top dogs, Charles Prince and Sanford Weill, both took home north of 20 bucks last year, according to SEC filings. CEO Prince received $13 million in salary and bonuses plus $9.7 million in restricted stock. Throw in another $328,000 in "personal services" and you're looking at a cool $23 million, an increase of more than 22 percent his 2004 comp. Meanwhile Sandy took home $21.5 million last year, comprised of $10.9 million in salary and bonuses in addition to almost $8 million in restricted stock; the old man also got $2.6 million in "personal services". Can anyone say "happy ending"?
[/quote]
</p>
<p>Do good students with an MBA from a top B-school really make more than a doctor? I didn't know that I mean a nuerosurgeon makes 400K.</p>
<p>Depending on the industry they're in and given a few years, they can.</p>
<p>A good trader fresh out of MBA can make $400k easily, and their pay goes up much faster than that of a neurosurgeon. And you only work around 60-70 hours, so it's not that bad. It's better than bleeding for the $250k in ibanking...anyways, I would assume it's like 9-4 every day of nonstop stress...but when exchanges close, you basically do filing and stuff, and if there's no filing to do, you go home.</p>
<p>"Well put!</p>
<p>To play devil's advocate and defend medicine, I should note that unsuccessful business people tend to be much worse off than average doctors.</p>
<p>Furthermore, politics, racism, and sexism (while present in every aspect of life), do have a more profound impact in the business world (this is my opinion only...not fact).</p>
<p>These are all risks one has to balance if trying to choose between business and medicine!"</p>
<p>Thanks. I would note that one should not compare an average or even below average doctor to an unsucessful businessman. Anyone can become a businessman. To get to the level of becoming a doctor, you have to have enough intelligence to get into med school in teh first place. The same person who can get into med school(even if he later becomes below average doctor) will be more competant than an unsuccessful businessman. If you look at some of the kids majoring in business at less academically-oriented schools, you'll see they are not the brightest of the bunch at their university.</p>
<p>"Unless something changed, I don't think Med School takes 8 years."
4 Med School + 4 Residency</p>
<p>
[quote]
should note that unsuccessful business people tend to be much worse off than average doctors.
[/quote]
</p>
<p>That's absolutely true. I'm not going to dispute that. But the above average/good stock trader tends to make more money than the above average/good doctor.</p>
<p>What exactly does a trader do? I'm assuming it's an entirely different field than IB, and the typical things, like how does one get a job? Doesn't sound like the type of job you get fresh out of grad school.</p>
<p>first of all, most traders don't get MBAs. It's seen as a waste of time. </p>
<p>As for what a trader does, the really good ones that work in investment banks can sometimes work as prop traders where they invest the bank's money and make bets against the market, trading whatever product the group they're assigned to trades. Or you can work in a hedge fund and trade for them.</p>
<p>It's more of an eat what you kill job, but if you're a good trader you can pull in major money. There was a 25 year old last year who pulled in 1 million in total compensation.</p>
<p>that's an example of what they do.</p>