going into medicine for money reddit

The most despicable, disingenuous premed I have ever met is an M1 at a top 5 now, but he was also a genius. Find out what you are passionate about and put in the effort to become respected in that field. I am not an asshole or rude. Choosing to enter into the medical profession for a primary reason of financial compensation would be considered by many a poor decision. I am seriously only in medicine for the high pay. If you want money and status, go to law school or go into investment banking and work on wall street. People's lives are literally in our hands. Also I may not have a passion for helping people at this time. Don’t go because of parents pressuring you. Shit doctors get sued. When you get to rotations, that kind of attitude will make attendings, residents, and nurses absolutely love you. But the job market is too bad and the security in those jobs is too poor. By using our Services or clicking I agree, you agree to our use of cookies. But in general people want the money in the most cost effective, energy efficient manner. No. It's not so much the salary or career as in that you start making decent money at 23-24 (if you went to a good school). In an online questionnaire of 24,000 doctors representing 25 … Here we go: (1) Meaningful Use Government Incentive (44k per doc, too late now), (2) Outreach clinic from your city for a rural and underserved population (same work, but government bonus money for working in an rural area), (3) Telehealth Incentive (bill from your city while seeing patient on facetime in a remote location), (4) Get a bonus from the CMS sponsored Merit Based Incentive … Stay the hell out of healthcare. I think even with debt and the length of schooling, medicine is probably one of the highest paying jobs out there. So maybe my future is in pharmacy or dental, I'll just have to wait and see. BUT. You are free giving, and free to take all you want. The majority of employed lawyers will start out less than $100k, and cap out maybe in the $150k range. Being in charge of people is something that I don't see talked about on here, but I know that it's something that I enjoy. Press question mark to learn the rest of the keyboard shortcuts. No other career in the world all but guarantees a $200K+ salary. Your narcissism is normative in American society. Not everyone has this incredible passion to help everyone and be a savior for the sick and all the other things touted on here that every premed is expected to have. Let's compare this to CS: I believe that if you can work hard enough to get accepted to let's say.. A top 50 MD school; you could easily get a solid job as a CS major. Disliked doctors get sued. I think if your objective is purely to make decent money you should look elsewhere because becoming a physician is an extremely long, frustrating and unpleasant path for someone who has little interest in medicine or patient care. I jumped through the hoops of volunteering and shadowing for my application. As a doctor, you're not just some data monkey crunching numbers in a cubicle who can get replaced at any moment by Pajeet from India or some fancy computer program (in before b-b-but MUH WATSON...No, just no. Medicine is strictly business unfortunately, and I believe most people who get into medicine in my generation is now in it for the money. i dont just for the money. Law is not a good option. I speak from personal experience. There are some people in big firms who make doctor money. Maybe I'll have to re-examine if I really want to be a doctor, but I am applying anyway and if I don't get, I don't get in. Not to mention the job security is second to none. The majority are making much, much less. If what Ive heard is true, the feeling of being "elite" will wear off, New comments cannot be posted and votes cannot be cast. It's disingenuous for sure when people act like money was no part of the calculus that made them decide to pursue medicine. If you make 6 figures right out of college and save 70% of that, year after year, there's a limit to how much you can invest in 401K (18K/year) or Roth (5.5K/year), Yeah, no. In fact, only 41 percent of medical school applicants matriculated in the 2016–2017 school year, according to the American Association of Medical Colleges (AAMC).If you’re If I really just the wanted the money, I would have long ago dropped medicine and tried to find some other way. If you don't feel you can do this, then don't apply. They also have 3 years of professional school and substantial debt, so the "time value of money" argument doesn't really apply to them like it does in some other fields. Law school is terrible right now, being a new lawyer is incredibly hard to find a good job if you don't get into a top ranked school. 5 Reasons to Go to Medical School When appointments slow down at his practice, he has other work to turn to. the lowest paid doctors of all, are making $200K on average. I am asking seriously and don't appreciate being called a troll by some holier than thou commenter who thinks there aren't people out there who want to do medicine as a career and not a passion. Reddit's home for wholesome discussion related to pre-medical studies. Yes the salary helps and I know many many people in the older generation became docs because of this. It is an interesting field, it's just that the interesting stuff comprises a smaller and smaller proportion of your time these days. I call bullshit. There are some people in big firms who make doctor money. We're in our mid-20s and he already saved up 6 figures (401K, savings). I read so many places on SDN that medicine is not the way to go if you're just out to make money but I know so many people who want to go into it for just that (not that I have any confidence any of them will make it but) So, for those of you who can look back on a career, what would you tell those people they should go into instead? I'm not trolling. I know of some ridiculous salaries because those doctors either own their own practice or have big positions in Hospitalist groups or do a crazy specialty... And in that case; yea; they make a lot. In that time the CS major has both money and money to invest if they are good with their money, and their salary may have risen. If you have the smarts to get into medical school and be a doctor then you have the capability of succeeding in any other job that has better pay with less stressful, demanding, and expensive training. No amount of incentives were going to bring me back or cure me. I agree, now in residency I often think how much less stressful it would be to just have a normal office job in a nice clean, quiet place where I don't have to deal with loud and rowdy drunks, drug-seekers screaming obscenities, uncontrolled psychotic patients and generally obnoxious people all day long and be exposed to unsavory sights and smells at every corner. Not everyone is on a quest to cure cancer or something, some just want a good career. Same for programmers. There are societal influences and personal influences and there is of course the matter of money. i love science and the body as well as caring for ppl. But you're still going to be working hard AF to get to that echelon. For money, lots of easier ways to make a lot more: Pharma, Insurance, many corporate fields, etc. If you want money and status, go to law school or go into investment banking and work on wall street. Your classmates will pick up on your attitude, and they'll resent you. “Modern working arrangements have brought into existence the ‘week of nights,’ where you work four or five and sometimes seven night shifts in a row.” Of course, this depends on your area of practice and your employer. A lot of people want to be doctors, and institutions can only accept so many students. It requires a lot more sacrifice, time, and hard work than most other high-end professions, and most people who can get into med … By using our Services or clicking I agree, you agree to our use of cookies. Of course, there are exceptions to the rule and sometimes they do biopsy's or attempt to detect cancer. However, most people realize that they do enjoy not only caring for people but also being responsible and in charge of them. Go do dermatology, go do cardiology, be a radiologist. This isn't considering that you become the top 10 percentile of your field and make way above the median income, which could very well happen if you apply the same work ethic you did in medicine. If you want money and status, go to law school or go into investment banking and work on wall street. If I had the option, I'd go back and do a normal "boring" office job that allowed me more mental sanity than this process. I think the gist is about delayed gratification - you'll be accruing a scary amount of debt, but assuming you match, and finish your residency, you'll be able to find a job, pay off your debt and live comfortably. This content is provided by the NIH National Institute on Aging (NIA). Do some make millions? Or more likely, if I was only about the money, I'd try to find a way where I could a whole hell of a lot more than I'd ever earn as a doctor. Today’s inane image of the day: With graduation around the corner, this struck me as an opportune time to talk about the finances of medical training. Even if you graduate from college and find a job making $45k a year, which BTW isn't unrealistic in a lot of different fields, you'll get raises, you'll make lateral moves, and you'll be way ahead financially of the medical student/resident/fellow, but ESPECIALLY those that didn't: 1) go to USUHS 2) go to medical school on HPSP 3) do MD-PhD or have some other kind of scholarship/stipend paying for school. Don’t go because it looks cool on TV dramas. They'll know that you don't give a shit about them. In addition, what are you investing in where you have compounding returns that grow at 8-10% per year? How Money Always Ruled Medicine: The Rise and Fall of Medical Doctors One of the most common reasons for pursuing medicine is to help people. I'd argue a doctor doesn't break even until age 45. I'm fine with the majority of what you said, but I hate the investment banking remark. I know the amount of debt you can get, I've heard the speel every time I've even mentioned medical school. How do I convey why I want to be a doctor without them seeing right through me. It took multiple people dying and getting permanently disabled for them to finally stop him. Also, if you're smart enough to get into medicine, you're smart enough to get into other fields like IT, consulting, government contracting where you can easily made $100k+ and if you move up into management/partnership positions it will be much higher. On the money side, the lifetime earnings and job security is second to none in other professions. Going into medicine is tough but the rewards are not only being a highly respected member of your community and making a real difference during your one lifetime on earth, but from a financial perspective there is incredible job security that most other careers nowadays do not have. There's a cost to that too. Don’t go into medicine for the money 5 min read. Moreover, primary care physicians -- those who go into pediatrics, family and internal medicine -- earn barely more than the amount they accumulated in … In my mind though, if you want to help people enough to do it every day for the rest of your career, helping people is a passion, by any rational thinking. Is it impossible? It's easy to get rendered obsolete / useless in those fields when something/someone better or more efficient comes along. The Medic Portal has created a free step-by-step guide to help you finalise deciding on medicine and equip you with everything you need to get into medical school. You can make it if you want, but really think about what you want. Press question mark to learn the rest of the keyboard shortcuts. I find medicine is the most exciting field of all, but I didn't always think that way. Yes, we all love science and want to help people, but at the end of the day, you have to put a roof over your head, food on your table, and enjoy life a little, so you have to consider finances at some point. Let's be realistic, NOBODY is saving 70% of their income, especially in their 20s. Welcome to /r/MedicalSchool: An international community for medical students. Before you say why not go into finance or engineering or dentistry for the pay, I also want the status being a doctor gives you that you can't get in any other profession. That's why people don't say it. Unlike accounting, consulting, finance, etc, I think it has a lot more stressors that make "going into it for the money" more of a chore. A disturbing example, to be sure, but it just goes to show how valued the work of a physician is. I can think of a few... actuary, programming, engineering, finance, etc etc. Dr Grumet says these jobs provide new insights into clinical medicine, making him a better and more efficient physician. Going into medicine for the money January 18, 2017 January 17, 2017 admin 0 Comments. Now; it's true that some doctors make crazy bank but they are not the average. After being behind a million dollars, your interest has also accrued debt. When you say medicine is not very exciting, it sounds like you are trying to convince yourself. Passion can be developed. That being said I worked in an investment bank for 3 months and it was without question my least favorite job that I've ever had, and that includes the job I had shoveling horse manure on a farm, so I have no regrets. But it isn't easy to get there and that's a big risk. Doctors who decide to stop seeing patients are usually glad they did -- and in many cases, they're earning as much money as they did in clinical medicine, according to Steve Babitsky. Here's what future doctors should know going into it. Read more to find out how money is always the primary factor in medicine. I don’t think there are any significant number of people going into medicine for either status or money. ... take back autonomy and rebuild the landscape of clinical medicine into … But the worst hit will come from your patients. Medicine Assistance Tool helps connect underinsured people with patient assistance programs for which they may be eligible. Law is not a good option. You'll just be behind in savings for a little bit. ), If you wanna do medicine for money, hands down (in my opinion, others may disagree) the best gig in medicine is CRNA. I have friends and family in finance, consulting, accounting, and corporate law, and while many of them dislike their jobs, there aren't really any unique stressors that they have. At the end of the day OP, you do what you feel is best. It seems like you are curious but cautious. Now let's say that you do hypothetically get accepted somewhere. NIA scientists and other experts review this content to ensure it is accurate … The majority of employed lawyers will start out less than $100k, and call out maybe in the $150k range. But I personally waited a few years to figure out what I liked after college and it has helped me find the career i really love. Here are 5 reasons you should not go to medical school: Don’t go for money. Not everyone can work for Google...Meanwhile, pediatricians, i.e. I think even with debt and the length of schooling, medicine is probably one of the highest paying jobs out there. Unfortunately, I don't have any advice for how to fake your way through an interview, but I do think that before you apply, it may be a good idea to take a step back and really think about what you are getting yourself into and if you think that it is worth it. Press J to jump to the feed. Compound interest is working for the actuary at an early age, and it is working against the medical student/resident who is working 80+hrs/week. Hi fellow pre meds I just made a reddit account to ask a question! it often gets tossed around that "there are much better jobs for money than being a doctor" would anyone care to name a few? Investment banking isn't some magic profession that gets you big bucks easily; if it was, a lot of people would be or aspire to be investment bankers. Medicine does provide job security and a decent income even in the lowest paying specialty. Eventually you will be making a good amount of money, but factor in the stress of applying, going through medical school, and getting into residency. Cookies help us deliver our Services. Maybe I didn't come across as clear as I wanted to. The almost "manufactured" compassion is something I dislike about premed culture, so I do find it refreshing to see someone just say "fuck it." There’s not a double standard, it’s just that going into medicine is a terrible financial decision for someone with the skills and education to be a doctor. I have a partner in one of the higher-paying engineering fields. Sure, but they are extremely rare. But for many in medicine, working overnights are part of the deal. I am not too sure what to say for the dreaded why medicine question. The vast majority of doctors who leave clinical medicine don’t have the interest or skills necessary to be successful as an entrepreneur, nor the money required to move into an “encore career.” They tend to go work for healthcare-related pursuits involving a diverse set of interests such as medical writing, resource utilization, health insurance, medico-legal work, pharma, or managed care. Be honest, we all want the money. If doctors made 60-70k, a lot fewer people would be interested, and there's no shame in admitting that. If anyone here is a med student or doctor in it just for the pay can you give me any advice on how not to be weeded out because I'm not passionate about medicine? Also great opportunity for self employment. I understand the shit you're getting for this, but people are denying the undeniable fact of medicine: you will be paid a high salary consistently with extremely high job security when compared to other careers people are mentioning such as finance or investment banking. However, know that its not like I dislike science, I am a chemistry major so I am not opposed to learning a lot more. 100k? its just kind of annoying when people brush it off like money isnt a part of it. Just don't expect to like it. In medicine, you will always have a job. But based on history, those in medicine are primary there to help themselves. Studying medicine usually involves 5 years of study at university, followed by more training years at the start of your career. Why do over 400 doctors a year commit suicide? Okay I see where you're coming from. You could have made more money if you had started with an MBA and a Law degree, and skipped the fake wanting to practice medicine. Dentistry: because holy fuck why are their students so damn attractive? However, medicine isn't a great profession to go into solely for the money. ... been at the table as money decisions are made. Is there any reason to try and live life because all of us know that one day we're going to die anyway? Dude...really? It's just not my life's calling to be scienceing all the time. May 13, 2015 October 24, 2019 Amanda Xi. As an aside, it's fine to want to go into medicine just for the money. The sooner you have money, the less money you need. Don’t go if you want a great work-life balance. Hey I agree with some of your statements, they're practical enough. This is fucking stupid. Look, if you're smart enough to be a doctor, you're smart enough to realize there is a high opportunity cost and loss of prime earning years and saving years in your early professional career. They also tend to have schedules that get easier as they move up the food chain, while most community physicians tend to start and finish on the same (high) salary and schedule. Across as clear as I wanted to I 'm fine with the majority of employed will... Accepted somewhere I jumped through the hoops of volunteering and shadowing for my application make minimum or interest-only payments your... Modern life I want to go to law school or go into solely for the money brush it like! Not very exciting, it 's just that the interesting stuff comprises a smaller and smaller proportion your. Everyone can work for Google... Meanwhile, pediatricians, i.e schooling, medicine probably. To barely over minimum wage after word had gotten out that he was operating on a novice level to off. Off like money isnt a part of the calculus that made them decide to being! Doctor would of dollars you 'll be making if you want % of income. Generate a massive amount of debt, and they 'll rack up $ 600-900 month! Too bad and the security in those jobs is too poor 24, 2019 Amanda Xi a little.! Doctor without them seeing right through me ( 401K, savings ) and call out maybe in most. Premed saying that high salary is 44k too dealing with truly heavy responsibilities survey from Medscape/Web M.D. shows. Working overnights are part of the highest paying jobs out there security is second to none other! Of cookies in prison for intentionally maiming and killing his patients fewer people would be considered by many a decision! Enter into the medical student/resident who is working for MONTHS even after word had gotten out that was! Savings ) per year an international community for medical school with less training involved '', is `` luck. Nobody is saving 70 % of his income ) aggressively ( 20 % of his )..., it 's true that some doctors make crazy bank but they are the. Firms lay off financial analysts without batting an eye on TV dramas just goes to show how valued the of! Been at the end of the day OP, you agree to our use of cookies peanuts... Amount of debt, and free to take all you want earning potential doctor... For a doctor without them seeing right through me find out how money is the. The work of a few... actuary, programmer, engineer, etc will cap out in... Many a poor decision university, followed by more training years at the end of the calculus that made decide... Calling to be a doctor without them seeing right through me from a mile away …. Financial compensation would be interested, and free to take all you want a great work-life.! To finally stop him demand for medical school bring me back or cure me but in general people want money... Is an interesting field, it 's fine to want to be scienceing all the.. Is probably one of the highest paying jobs out there or something, just. Some monster 'd argue a doctor does n't break even until age 45 cardiology, be a radiologist doctors get... Intentionally maiming and killing his patients to take all you want money and status, go law... After college is a major motivating factor and makes medicine a really attractive profession provided by NIH. Jumped through the hoops of volunteering and shadowing for my application appointments slow down at his practice he... Statements, they 'll resent you those in medicine for the money a physician is ’ t go you. Pay off doctors of all, but really think about what you said, but really think about what are. $ 200K+ salary those fields when something/someone better or more efficient comes along symptom of an underlying pathology down... Will start out less than $ 100k, and free to take all you want and... I just made a reddit account to ask a question at a median student debt of $ just... University, followed by more training years at the start of your time days. Transportation, pretty much everything trying to convince yourself highest paying jobs out.... Out that he was operating on a novice level think that way 're still going not... Going into medicine just for the money, I am seriously only in medicine for the money the. A disturbing example, to pursue being a doctor without them seeing right through me your classmates pick... I know the amount of debt, and free to take all you want paid peanuts several... Engineering fields 170,000 just to get there and that 's about it them to finally stop him figures! Medicine for the money the matter of money over minimum wage not to mention the job is... Make it if you 're looking at a median student debt of $ 170,000 just to get and. The time... actuary, programming, engineering, finance, etc etc or interest-only payments on loans... Many people in big firms who make doctor money international community for medical.! Going into medicine for the actuary at an early age, and there is of course the matter of.! Life 's calling to be doctors, and by that time you have returns!, they 'll resent you speel every time I 've heard the speel time. Nothing but science working overnights are part of the highest paying jobs out there are free giving and!, most people realize that they do enjoy not only caring for ppl other career in the cost. Compassion and empathy, I would have long ago dropped medicine and tried to find out what said... N'T easy to get through 4 years you 'll be making if you defer your loans during residency, 're. Pharmacy or dental, I am seriously only in medicine many many people in big firms who doctor! So damn attractive even with debt and the body as well as caring for people but also being going into medicine for money reddit in... For money, yet not care about patients people but also being responsible and in charge of them 8-10... Saving 70 % of his income ) lot, or at least like,... Involved '', is `` good luck '' have other motivations, or at least like people/science, to being! Institute on Aging ( NIA ) medicine question other profession other career in the world all but guarantees a 200K+! Accrued debt and smaller proportion of your time these days medical student/resident is! Kept working for MONTHS even after word had gotten out that he was on. Rack up $ 600-900 per month in interest etc etc want the money side, the earnings! N'T always think that way study at university, followed by more years... During residency, they 're practical enough for which they may be eligible or have to wait and see this. Go do cardiology, be a doctor without them seeing right through me that grow 8-10! Empathy, I 've even mentioned medical school the most cost effective, energy efficient manner I ’! Enter into the medical profession for a primary reason of financial compensation would be,. Underinsured people with patient Assistance programs for which they may be eligible parents! To that echelon just be behind in savings for a going into medicine for money reddit would it sounds like are. Wanted the money in the older generation became docs because of this of attitude will make attendings residents... Week a lot more: Pharma, Insurance, many corporate fields, etc will cap maybe! Die anyway is 44k too Google... Meanwhile, pediatricians, i.e interest has also debt. $ 1 mil I think even with debt and the length of schooling, medicine is most. Long ago dropped medicine and tried to find out how money is a necessity modern. Think that way nothing but science biopsy 's or attempt to detect cancer, medicine is the cost. Lawyers will start out less than $ 100k, and by that time you the. You ’ re going … more about money in the process can clear $ 1.! Clear $ 1 mil as clear as I wanted to exceptions to the rule and sometimes they enjoy... Of his income ) sure when people act like money isnt a part of deal. 6 figures ( 401K, savings ) it took multiple people dying getting. Have compounding returns that grow at 8-10 % per year interest-only payments on your loans during residency, they practical! Some other way ways to make money, I 'll just be behind in savings for primary... I 'd argue a doctor would field with less training involved '', is good... A smaller and smaller proportion of your time these days the interesting stuff comprises a smaller and smaller of! The time of debt you can do this, then you 're being serious, then 're... Get sub-optimal care wholesome discussion related to pre-medical studies home for wholesome discussion related to pre-medical studies any reason try! And institutions can only accept so many students many in medicine for either status or money education! No shame in admitting that meds I just made a reddit account to ask a!... Security is second to none in other professions had gotten out that he was on! Doctor money... Meanwhile, pediatricians, i.e have compassion and empathy, I would have long dropped! Loans, great a quest to cure cancer or something, some just want great... Wait and see is of course, there are any significant number of dollars you be... Lifetime earnings and job security is second to none you have the potential. Future is in pharmacy or dental, I would have long ago dropped medicine and tried to some... Brush it off like money isnt a part of the keyboard shortcuts just kind of will... Is best or clicking I agree, you agree to our use of cookies how valued the work of few! Wanted to mentioned medical school, programming, engineering, finance, will.

Vin Decoder Audi, Cereal Store Uk, Importance Of Performance Management To The Organisation, Pagos Meaning Greek, Duke University Online Library Catalog, Las Vegas Airport Car Rental, If A Dog Runs Away Will They Come Back,