<p>I'm an undecided freshman in California and I can't decide whether to do a pre-med track or look for a more $ and banking orientated major.</p>
<p>The years of med school and residency and the low pay that occurs during this time bothers me; however, I hear of these ibankers making high 6 to low 7 figures several years after their first 2 years of hell. </p>
<p>So basically by the time a doctor would be making 6 figures, they would be in substantial med school debt; however the ibanker would have been making the big bucks all along.</p>
<p>What do you all think of this? Obviously it is a very broad and likely immature observation; however, it can't be too far off from the generalized truth.</p>
<p>...how about you decide by thinking about which you actually would LIKE to do. medicine and finance seem like such different areas; are you actually interested in both or are you just looking at which jobs have the highest pay?</p>
<p>like the poster said above, both have good pay and both are difficult. even if you choose ibanking, it's extremely difficult to land a position at a bulge bracket bank and it's all very competitive.</p>
<p>If you want to make the most money in the shortest amount of time, quit and go do something else, then go with IB. If you want a steady career for the rest of your life at the cost of insanely high pay, medicine is for you. That is assuming that you love both science AND finance. </p>
<p>If you don't like science or the idea of doing the same thing for 40 years, then don't do medicine. If you don't like business or are risk-averse, then don't do IB. Depends on your personality and other factors.</p>
<p>There's not much risk involved in I-Banking except the risk of a) never getting IB job out of college 2) not getting hired after business school (in today's market if your from a top business school this basically cannot happen.) </p>
<p>IBanking is one of the least risky fields of business in my mind. If you want to see risk, start a job as a day trader without your own personal savings. And watch it evaporate.</p>
<p>Go with whichever you like more. Salary isn't going to matter a whole lot when you're stuck with a job you hate, so pick one that you're truly passionate about. </p>
<p>Everyone wants to be well-off, and there's nothing wrong with that. But there are tons of well-paying jobs out there. Pick one that you'd truly want to do for the rest of your life.</p>
<p>like someone else said earlier, you need to consider the up-and-out culture of ibanking. If you CAN'T cut it, then you're gone and kiss that nice salary goodbye.</p>
<p>As a doctor, provided you don't screw up, you will live a rather comfortable, stable life after your late twenties.</p>
<p>Well IB is a job, not a career. Financial services is a career. IB is a job. Almost nobody does IB after their early 30's. That's why managing directors get paid so goddamn much.</p>
<p>By the way you termed your question I would say (in my humble opinion) that medicine is not for you. I know many of my peers who go into medicine for the salary (and I get really sick to my stomach and want to puke in their faces... but that's another story) and I feel this is not only wrong on the "happiness" factor of work but also on the realist aspect. I say this because many people are predicting that the salary of a doctor will actually DECREASE in the near future.</p>
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If you don't like science or the idea of doing the same thing for 40 years, then don't do medicine. If you don't like business or are risk-averse, then don't do IB. Depends on your personality and other factors.
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i don't think that is quite accurate of the real world. here's an</a> article that gives some idea of what MD's can and have been doing for some time, just in case you are curious to know all your true options.</p>