"More money in other fields"

<p>Everyone says not to go into medicine for the money because you can make more money in less time in other fields.</p>

<p>Really now? I want to know what those other fields are.</p>

<p>I-banking - with banks downsizing left and right, the economy in the toilet, and 25,000 former lehman employees looking for jobs here too, and the fact that i don't go to wharton or harvard (or similarly recruited schools), there is not much chance for me to get a job in this industry</p>

<p>CEO - takes more years than being a doctor ever will, and the avg company ceo isn't even that high. oh if they were referring to ceo's of fortune 500 companies? yeah, that's not a realistic goal for me to strive for either..</p>

<p>entrepreneur - anywhere from 50% to 90% of new businesses fail within their first 5 years (depending on the statistics you look at), let alone make it big. if i don't have have a damn good idea and management strategy this option is out too..</p>

<p>with that said, if i am a money-hungry individual, what are some actual jobs that can guarantee some good money with fewer years of hard studying and dedication?</p>

<p>perhaps the tone of this post doesn't come off well, but i just hate when people throw around that statement without knowledge to back it up</p>

<p>Law.... and no "residency" required. People seem to forget that medicine requires another 3-8+ years after med school during which you will get paid very little for a lot of stress and a lot of work, all the while your loans accumulate interest haha. You are quite a bit older, and have put in quite a bit more work than most of your friends when you start pulling in a decent salary.</p>

<p>There are definitely easier ways (less work and less time) to make a decent salary besides med school.</p>

<p>thanks icarus, i agree law definitely has potential to make more.</p>

<p>i have found though that usually the average lawyers compensation is quite a bit lower than that of doctors and they too study for additional years, accumulate debts, and take quite lower paying jobs when they are fresh out of law school. but all of these factors vary a lot so there I agree that there is some likelihood doing better money wise going with law.</p>

<p>i'm still open to hearing other suggestions as well. but..i'm gonna ask professional sports please not be suggested, for obvious reasons.</p>

<p>Film and music industry makes quick and big bucks if you got the talent(managing and writing). Also one that few people overlook is culinary arts(you'd be surprised how much they get payed).</p>

<p>Pharmacy. Not as much schooling and you get very good pay right out. The middle 50th %ile lies somewhere around $100K-$110K. The hours are also much better.</p>

<p>I'll give you an example - become a certified Information Technology (IT) guy, i.e. a Cisco Certified Internetwork Expert (CCIE), Oracle Certified Professional (OCP), or so forth. CCIE's get paid an average of around $98k a year, with the very best making up to $150k+. Now, granted, you need significant experience to make it to that level, but it is entirely reasonable for a new CCIE with no experience to make, say, $50k a year and then work up from there.</p>

<p>The beautiful thing about IT work is that not only do you not need a related college degree or even any college degree at all, heck, you don't even really need to graduate from high school. Take the CCIE for an example. I am convinced that a dedicated person of reasonable intelligence could become a CCIE in just 3-6 months of work (that is, 3-6 months of doing nothing else but reading, learning how to use the gear, and then practicing for the certification exam). All you need is to get yourself a rack of Cisco routers and switches (for no more than $10k on Ebay), get a bunch of books starting with the basic ones like "Teach yourself Cisco Routers in 21 days" and then working your way up, and maybe another $3-5k in test fees, as you'll probably fail the certification exam the first few times, but that's OK as you can just take it over and over again until you finally pass. Even the $10k in equipment is not something that you're really "paying", because after you complete the certification, you can just sell the gear right back on Ebay and get most of your money back. In any case, the costs are clearly far lower than the tuition of most colleges. </p>

<p>I know a couple of IT guys who had dropped out of high school and are now making 6 figure salaries. Granted, they obviously didn't make that kind of money immediately - it took them years to make it to that level. But, since they never spent time in college (or even finishing high school), they had those extra years with which to build their experience. I remember them laughing at all of the "stupid" college graduates who end up with rinky-dink little jobs that pay less than half of what these guys are making now. To this day, I still don't have a good comeback to use against them. In fact, I have to agree with them that if you're just going to graduate from college without marketable skills and just and wind up with a $30-35k job that has no serious potential for career development, then you clearly would have been better off, at least financially, in never going to college at all and instead learned IT skills.</p>

<p>{I think the real problem is with colleges and high schools themselves. Not only do they largely do not teach marketable skills, they don't even make students aware of what these skills might be. For example, even most CS graduates from even the top programs do not know what a Cisco router even looks like, much less how to use one. It's not that hard to learn. But the schools won't teach you this. In short, the schools don't even bother teaching students that this kind of career is even available, and that's sad, for I think most college students are just looking to get some marketable skills.}</p>

<p>
[quote]
that's sad, for I think most college students are just looking to get some marketable skills

[/quote]
Agreed, but then of course the other side of that coin is that it's sad that
[quote]
I think most college students are just looking to get some marketable skills.

[/quote]
Not that good a situation for anybody, including the students who are there to become broadly educated. Among other things, we need to shift our thinking to value (and invest in) our vocational schools.</p>

<p>
[quote]
Over a lifetime a plumber has a higher standard of living than a physician with a general practice because the doctor starts earning later, pays higher taxes and high malpractice insurance premiums.

[/quote]

<a href="http://www.nytimes.com/2007/05/12/business/12money.html?pagewanted=print%5B/url%5D"&gt;http://www.nytimes.com/2007/05/12/business/12money.html?pagewanted=print&lt;/a&gt;&lt;/p>

<p>There are no physicians on the Forbes 400 list; physicians are basically like old time factory workers who were 'paid by the piece'-and there are only so many patients you can see in a day, and if you lose money on every patient you see(medicare patients for some primary care physicians) you can not make it up in volume.</p>

<p>Don't forget about the dentists!</p>

<p>Law can work, but the weed out takes place in several rounds. First you find out whether you are getting into a top law school. I know people who refuse to go to law school if they cannot get in one of the top places because they think the careers open to them are not worth it. For all I know they may be right. It seems that there are two paths to the high paying firms in NY, DC, Chicago and I don't know where else: 1. Be a strong graduate of a top law school. How strong seems to depend on the school. I gather the top firms go farther down the list from Yale or Harvard than some other top 14 schools. 2. Much more risky, go somewhere to law school, go to work for the government, and become a recognized expert in your area- tax law at the IRS, criminal law in a prosecutors office, securities law in the SEC... Then the top private firms would be happy to have you.</p>

<p>Note that the weed out continues after admittance to law school- you have to do well in school, then compete for partnership at a highly competitive firm. In medicine you have a huge competition to get in at all, then compete for ability to enter the most oversubscribed specialties. After that you can expect to make an average income for your field. So in medicine you front load your weed out. By the time you are picking residencies you know where you stand. In law, although you are not a resident, you may be many years past graduation before it becomes clear whether you will get a high paying position.</p>