Doctor salaries = last great path to wealth
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Date: December 15th, 2017 2:04 PM Author: chestnut immigrant
?? primary care is terribly underpaid and even procedural specialities are often in the 300-500 range, some more of course, but not always, and they have the terrible hours and time to get the degree and all that BS
the path to wealth is, and has always been, being the owner of capital
CRYPTO
OWN A BUSINESS
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34927934) |
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Date: December 15th, 2017 2:07 PM Author: Naked buff regret tank
Wrong. Primary care can do 300k in tons of places, procedural easily 400k for low end medical to 700k+ for surgical sub spec
Compare to 5 years of biglaw ~> FED on NY scale
LJL
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34927950) |
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Date: December 15th, 2017 2:08 PM Author: chestnut immigrant
primary care is so woeful that congress and medicare advisors are coming up with strategies to funnel them more money, it's a crisis
maybe some can make 300K tho but averages nationally are not 300+
no one is gonna argue with you that MD > JD
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34927962) |
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Date: December 15th, 2017 2:31 PM Author: boyish painfully honest institution messiness
Any surgical subspecialty, except maybe cosmetic plastics and some ortho are really high-stress and shit hours.
Basically, if you want to be a surgeon, you better live and breathe surgery, otherwise you will just end up a bitter, burnt-out miserable shitbag paying 3 alimonies and child support.
Gen surg, trauma, vascular, cardiac/thoracic, peds, and neuro are are extremely intense fields with tough hours and lifestyle.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928165) |
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Date: December 15th, 2017 2:33 PM Author: Naked buff regret tank
Flame
Ophtho, ENT, neuro surg, breast surgeon, outpatient vascular for starters
LJL
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928189) |
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Date: December 15th, 2017 2:40 PM Author: boyish painfully honest institution messiness
You just outted yourself as a dumbass by including Neurosurgery as a lifestyle specialty. It literally has one of the worst lifestyles of any sub-specialty in medicine. Not to mention the 7-8 year post MD training requirement, the overall low success rate for many procedures, and the ridiculous malpractice environment.
The only Ophtho guys making $650k are the Lasik mills and Vitreo-Retinal guys. And none of those guys are only working 40 hours a week.
Breast surgery is one of the better lifestyle specialties because it's mostly elective, but you will still have to round on patients and take call...so not 40 hours a week.
Outpatient vascular does not make the kind of money you think, and it's mostly older, partially retired doctors who have cornered this market. Good luck trying to carve out an elective vascular practice in your first 10-15 years out of residency.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928257)
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Date: December 15th, 2017 3:14 PM Author: boyish painfully honest institution messiness
You think neurosurgeons in private practice don't take call or have to cover trauma? Shit, private practice can be even worse since you might not have residents to cover for you like in an academic practice.
They just don't give you hospital privileges for nothing. You will at least have to take call on your own patients, who, in neurosurgery, are often extremely sick and have high complication rates, in addition to taking trauma and hospital call.
Also, this is in addition to what will most likely be a significant clinic and patient load you will be carrying.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928530)
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Date: December 15th, 2017 2:10 PM Author: boyish painfully honest institution messiness
Salaried anything is never a "great path to wealth" unless it includes significant equity.
Most MDs I know are very dissatisfied with their income, even though they are top .01% of all earners, mainly because their income is directly tied to patients seen/hours worked/decreasing reimbursement rates... it doesn't really matter how much harder they work, their income potential is capped. The only MDs that are truly wealthy are those who have capitalized on the "business" of medicine... they have significant passive income from owning companies that provide medical services, surgi-centers etc.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34927973) |
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Date: December 15th, 2017 2:30 PM Author: Burgundy aromatic brunch
This
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928159)
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Date: December 15th, 2017 2:40 PM Author: Ultramarine crackhouse gunner
A busy, hard-working doctor, has his own office, specialist, surgical practice in or near-to a major urban area can reasonably and consistently bring in $1m annual revenue. Take away a bunch of that for overhead, insurance, expenses, taxes, yes. But he also has a predictable schedule outside of call and rarely if ever has to travel. And it tends to become increasingly self-sustaining the longer your practice exists as your patient base grows.
It's a very good and, at least historically, stable and sustainable life, even if it doesn't compare to the very upper echelons of legal practice as far as dollars earned. You also have the reward of, you know, generally helping people (which we all here of course understand is far less satisfying than manning the battleworks of the Fortune 500 greathouses in their eternal litigations, but still, a recompense).
The GPs are getting fucked. But the specialities are still highly lucrative. In the circles I'm in, I know a bunch of specialist physicians who are extremely happy with their career choices. Though I do tend to sense that the youngest physicians (30s) are LESS HAPPY than the more established ones, maybe because they are reading writing on the wall and anticipating that the gravy train is going to end even for the specialties at some point.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928249) |
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Date: December 15th, 2017 3:02 PM Author: Ultramarine crackhouse gunner
We're speaking across each other then because I'm not commenting on the residency portion, which is of course definitely "challenging" -- no disagreement from me. That said, I think most people know what they're getting into when they decide to go into medicine and then particularly when they decide to further specialize. I don't think it's a bad outcome to emerge in your late 20s / early 30s set up to bring in a 7-figure revenue base if you're willing to establish your own practice.
Not sure what you mean ophthalmologists when you write ophthalmologists are "capped at 300k." Congress in general is being aggressive on efforts to cap fees toward all aspects of the physician spectrum but there are lots of ophthalmologists with surgical practices making a lot more than that.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928451) |
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Date: December 15th, 2017 3:09 PM Author: boyish painfully honest institution messiness
Ophtho has been hit very hard in the last 10-15 years. Not the specialty it once was.
If you just want to do clinic and prescribe glasses 40 hours a week, good luck ever breaking $200k, and most likely $175K which isn't bad money for the hours, but it's not that much when you consider the opportunity cost.
The really highly paid guys in ophtho are retina specialists and occulo-plastics which are very surgical intensive fields.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928495) |
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Date: December 15th, 2017 3:21 PM Author: boyish painfully honest institution messiness
I don't disagree, but my issue is more with OPs assertion that you can have any type of surgical practice (even an elective one) and still work 40 hours a week and easily pull in over $500k.
Any surgeon making that kind of money is working hard and the guys that are making that type of money with those hours worked are in the top 1% of the profession.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928572)
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Date: December 15th, 2017 2:22 PM Author: dull floppy national private investor
Meh, I was and am a middling lawyer and lazy as fuck and 10 years out of law school I somehow make $275k a year and have an MD title at a bank you would sell your first born to work at. Had I done medicine my life would almost certainly be shittier what with the 500k in debt and school and residency until you are freaking 30 thing. No thanks.
The trick to life is getting very good at gaming interviews and meeting people. I got every job I ever got through 180 as fuck networking and my ability to spin convincing BS. So maybe I'm not such a middling lawyer after all....
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928087) |
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Date: December 15th, 2017 2:34 PM Author: boyish painfully honest institution messiness
WTF?
Almost no surgical subspecialty is a 40 hour a week job. And if you did work a legit 40 hours a week you aren't going to be making $650k.
The only people able to make that kind of cash working that few hours are stars with established, niche, mostly elective practices, which is something that 99% of doctors will never be able to achieve.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928205)
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Date: December 15th, 2017 2:51 PM Author: boyish painfully honest institution messiness
Ortho hand and spine do a significant amount of trauma coverage.
The most senior and established practitioners in those specialties may have nice lifestyles, but it takes years and years to build that kind of practice.
I assure you that any junior ortho hand or spine specialist is taking plenty of hospital and trauma call in return for their hospital privileges.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928361)
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Date: December 15th, 2017 3:06 PM Author: Silver stubborn ceo son of senegal
Non-hard specialties are terrible salarywise in urban areas but quite nice if you're willing to live in Texarkana or whatever
As for neurosurgeons or whatever, that's like saying law pays well because partners are rich. It's the very top selection of strivers+type A+sociopaths in a competitive field
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34928479) |
Date: December 15th, 2017 4:21 PM Author: orchid tripping area elastic band
one of my good friends from high school is a doctor. not particularly bright, he partied his way through a mediocre ug, got a mediocre MCAT score, copped a DO at a med school I never heard of, and is now making 370K as a first year doctor in Manhattan working 40 hours a week.
me, on the other hand, "did everything right" in high school and went to HYPS ug, CCN law, got ITE-pwned and now toiling away in NYC small-law making 190K a year as a 6th year.
so if you ask me, yes, being a doctor does seem like a credited path to wealth.
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34929079) |
Date: December 15th, 2017 6:56 PM Author: Fragrant mother organic girlfriend
Doing medicine gives you job security with a comfortable salary pretty much anywhere in the US. However, note that a "comfortable salary" if you have a ton of loans and live in an area with high cost of living and an oversupply of doctors becomes increasingly uncomfortable, though.
To get "wealthy" in medicine, you are likely some combination of (1) working your ass off, (2) striking out on your own, (3) working in the middle of nowhere, or (4) so subspecialized that you can demand a higher salary, and this is going to require a lot of (1) to get there
(http://www.autoadmit.com/thread.php?thread_id=3830197&forum_id=2#34930277) |
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