Ok, reword my question. Why most applicants…? Are you happy? @thumper1 ?
I’m not sure even MOST Med students are killing themselves to be in the tippy top programs. Just not sure why this is so important.
The important thing is that the residency program provides excellent training. There are plenty of wonderful community hospital programs where this can happen. Plenty of students chase those options.
Academic positions at most schools are within reach when they make the cut. One person I know went to MGH for residency followed by fellowship in Brigham and is planning to stay in faculty doing more research and make less than half rather than take over a very very lucrative practice from the parent who went to schools in India!
Partly, it’s a matter of greater opportunities.
Residents at prestige programs are more likely to have the exposure and research needed match into competitive fellowships. Like REI or gyn onc or MFM or minimally invasive pelvic surgery. Or cardiology, oncology, immunology, pulmonary medicine, sports medicine, critical care, interventional radiology, or pediatric surgery.
And it’s easier for grads at prestige residencies to find a job they want in the location they want. The name of the training program does carry some cachet when applying for jobs in highly desirable/competitive locations. Plus the CVs of grads from prestige residencies are often stronger and more extensive, with a broader exposure to more types of cases and more difficult cases.
And if your young doctor has ambitions to go into something like healthcare policy or healthcare consulting, or wants to be considered for administrative positions within the hospital hierarchy, then the name of the residency definitely does help.
Plus some physicians just like to be on the cutting edge of things–involved in developing new treatment protocols, new drugs and new surgical techniques.
But if your student just wants to be a regular doctor and not any sort of subspecialist or consultant or department administrator, then a less prestigious residency will get them what they want —a job, working as physician and taking care of patients.
One of my D’s waitlisted better residency opportunity has 1000+ applicants for 7 positions, in her target specialty, there are only 1400 USG applicants in total. That is my MOST came from.
RE: #1364. Why are there 1000+ applicants for 7 positions at certain programs?
Why do people buy lottery tickets?
It’s the same sort of thing. They’re all hoping to get lucky and win the big pay off so they can go anywhere and do anything within the profession when they graduate from residency. Their future’s so bright they gotta wear shades. B-)
“One person I know went to MGH for residency followed by fellowship in Brigham and is planning to stay in faculty doing more research and make less than half rather than take over a very very lucrative practice from the parent who went to schools in India!”
Think of this way, if that guy was able to win the Nobel prize, then all the half pay will be 100x over.
@artloverplus how do you make up a career earning gap of 15-20 million with one Nobel prize?
I don’t know, just guessing. But my friend graduate as a project manager from NASA is earning more than $1 million in the private sector.
Because the person is doing what they love. I could have made a lot more money if I had just gone into finance and had a six figure salary at 22 but then I’d probably just want to retire ASAP like many of the finance people do. Instead I’m 31 and still have a few years to go before I break 6 figures, but I can’t really imagine not doing my job in some capacity.
@WayOutWestMom , D1 is in a pretty good place, talk about first world problems ?
DS has his first interview under his belt and is already in another state for the next. The goal at hand is to get that one “you’ve been matched”. Good luck to all.
Exactly. Doing top residencies might be resulting in lot less income because they are aiming for research/faculty positions in other top schools but that makes them happy…I don’t think IWBB is going to make any additional money practicing medicine with a Ph.D. if his goal was not becoming an academic?
I am confident that any doctor can earn a decent more than living wage as a doctor once they complete their residency…regardless of the “prestige” of the program.
Correct Texas, research represents a paycut from clinical work and a purely clinical position has no preference for MD/PhD over MD.
Thumper is right about interview costs, DD applied mainly in the west and traveled four separate plane rides to the Bay Area.
In your post regarding additional residency personal costs, you indicated there is malpractice insurance a resident might incur. Lets talk about it. Under what circumstances they have to pay for their own supplemental malpractice insurance? As I understand that insurance cost is very expensive, some times in the million dollar range. If only 10% of that a resident has to pay out of pocket, how could they afford a living?
" and malpractice insurance beyond what’s part of their benefits)"
I would invite all CCers to chime in this topic, if you have some experiences.
Regarding the cost of residency interview, I see it as a part of doing business. Its a small amount compare to the total cost of higher education and should be included in the total COA of med school. You can apply as many or as little as you wanted. A strong candidate could apply to few programs that is in driving distance. However, a weaker candidate must apply broadly.
To me the birth of an American Physician is on a pile of MONEY. You have pay for the high cost of UG, med school interview, med school, all sorts of tests in the 1000’s dollars, residency interview and then more money for fellowship matching interview, if wanted.
A resident needs a supplemental malpractice policy if they do any moonlighting.
Malpractice coverage provided by a residency program is only valid at the program site.
External moonlighting (i.e. done at site that is not part of the program) is never covered; internal moonlighting (i.e. done at the program’s home site ) may or may not be covered, depending on program policies.
If residents are doing externa moonlighting, they should at least attempt to negotiate for the site to cover malpractice…it’s at least worth an ask.
Houston seems to be a popular interview destination this year. We signed up to host students from D’s school and no one came last two years. We have three separate requests for 3 separate specialties this year.