Physician Compensation Economics

Pre-Med & Medical School Pre-Med Topics
41

<p>Median appears to be approximately $78,000 for North Carolina. (Salary.com)</p>

<p><a href="http://swz.salary.com/salarywizard/layoutscripts/swzl_salaryresults.asp?hdOmniNarrowDesc=Healthcare%20--%20Practitioners&hdZipCode=27708&hdStateMetro=141&hdSortBy=0&hdJobCode=HC07000009&hdKeyword=physician's%20assistant&rdbSearchByOption=0&hdJobCategory=HC03&hdGeoLocation=Durham,%20NC%2027708&hdLocationOption=0&hdViewAllRecords=0&hdJobTitle=Physician%20Assistant%20-%20Medical&hdAjaxDisplaySection1=1&hdAjaxDisplaySection2=1&hdOmniTotalJobsFound=150&op=salswz_psr&txtKeyword=physician's%20assistant&hdSearchByOption=0&hdCurrentPage=1&hdNarrowDesc=Healthcare%20--%20Practitioners&hdJSBoolDisplayAdvertisement=true&hdAjaxKeyword=physician's%20assistant&hdAjaxKeywordWithOR=#physician's#%20OR%20#assistant#"&gt;http://swz.salary.com/salarywizard/layoutscripts/swzl_salaryresults.asp?hdOmniNarrowDesc=Healthcare%20--%20Practitioners&hdZipCode=27708&hdStateMetro=141&hdSortBy=0&hdJobCode=HC07000009&hdKeyword=physician's%20assistant&rdbSearchByOption=0&hdJobCategory=HC03&hdGeoLocation=Durham,%20NC%2027708&hdLocationOption=0&hdViewAllRecords=0&hdJobTitle=Physician%20Assistant%20-%20Medical&hdAjaxDisplaySection1=1&hdAjaxDisplaySection2=1&hdOmniTotalJobsFound=150&op=salswz_psr&txtKeyword=physician's%20assistant&hdSearchByOption=0&hdCurrentPage=1&hdNarrowDesc=Healthcare%20--%20Practitioners&hdJSBoolDisplayAdvertisement=true&hdAjaxKeyword=physician's%20assistant&hdAjaxKeywordWithOR=#physician's#%20OR%20#assistant#&lt;/a&gt;&lt;/p>

42

<p>Thanks BDM! I checked out the AAPA website, as well, and their median income for 2007 was 86,000+. Although, what you gave me is what's relative to my area, so I appreciate that!</p>

43

<p>
[quote]
relative to my area, so I appreciate that!

[/quote]
Haha -- a total coincidence. But glad it helps.</p>

44

<p>engineers = auto mechanics. that's so sad. thanks for validating my plan to leave engineering. ;)</p>

45

<p>Well, don't forget that I'm assuming our auto mechanic skipped college. If you change that calculation -- that our auto mechanic got a degree and decided not to use it, or whatever -- the math will work out differently.</p>

46

<p>No kidding, haha well it worked out, thanks.</p>

47

<p>
[quote]
Taxes in our society are targeted towards those who make a lot of money all at once.</p>

<p>In other words, those who make more money later on (i.e. physicians and lawyers, but especially physicians) get penalized relative to those who make their money in a more spread-out fashion (i.e. other professions listed).

[/quote]
</p>

<p>Yeah, but this gets complicated if you were to investigate it.</p>

<p>I completely agree that our tax system hammers those who make their money "all at once" compared to those who spread it out. But that's the key - to spread out your earnings.</p>

<p>Specifically, many doctors run their own company (private practice), and there are a lot of things you can do to reduce/smooth your tax bill if you run your own company, particularly if you incorporate. For example, if your company is going to generate a lot of revenue in a particular year, you can attempt to balance it by just incurring a lot of expenditures that year: expenditures that you would have had to incur anyway, but whose timing is accelerated in order to reduce your tax exposure. </p>

<p>Look, I don't pretend to be a tax lawyer or an accountant, but I know there a lot of tactics that businesses employ to minimize their tax liability. I'm sure that private practice doctors will know all about them.</p>

48

<p>Yes, but the core problem (having to be a student for a long time, then making money later) is hard to resolve.</p>