Fact: Average Doctor makes way more than Average Finance/Banker (2024)

This seems like a troll post but I'll take the bait.

First Year analyst at Bulge Bracket (21-22 yrs old): $120-140K all inFirst Year Med-School Student (21-22 yrs old): -$50,000 tuition + lifestyle costs

Second-Third year analyst at Bulge Bracket (22-24 yrs old) $160-200k all inSecond-Third year Med-School Student (22-24 yrs old) -$100k tuition + lifestyle costs

First year associate at MM PE/MF or BB (25-26 yrs old): $240k+ all in4th-5th year Med-School Student (25-27 yrs old): -$100k tuition + lifestyle costs

2nd-3rd year associate at MM PE/MF/BB (27-29 yrs old): $275k+ all in1st-2nd year residency: $50k+ all in working banking hours

Idk maybe we're looking at this differently...

This claim is laughable. I make more than the average doctor now and I'm in my mid 20s. Anyone who STAYS in banking or pe or hf will likely exceed the average doctor's salary before their 30. There are tons of people who don't make it that far, but then again med school is also competitive and getting into a good residency is no cake walk either.

Long story short, you'd be a fool to take medicine over banking/pe/hf if your only goal is money.

Certain doctors make so much because there's such a high barrier to entry. Any tim buck two could work in finance and pick up most of it tbh if they are starting from the very bottom. To be a doctor absolutely requires almost 10 years of schooling before you can even really start your career. And a small percentage actually makes it through med school and into residency and then into becoming an actual doctor.

To be a doctor you have to slave for years with no pay. At least in banking you're compensated well for the hours and work.

time value of money ... that is all

Disagree on most points. As someone that lived in Westwood (in between Beverly Hills, Bel Air, and Brentwood) for 3 years and worked in swank, local health clubs while attending UCLA as a premed, I interacted with quite a few doctors practicing at Ronald Reagan, Cedars Sinai, etc. Frankly, their salaries don't touch what you need to buy a home in that area, let alone lead an assumedly "BeverlyHillsMD" lifestyle with the top rolled down on Wilshire. Even that plastic surgeon with his own reality show (Dr. 90201) can barely afford a decent place in Beverly Hills; I saw the episode where he bought his house in a meh neighborhood.

Another thing, doctor's lifestyles are terrible, and their job satisfaction isn't that far removed. And FYI, a lot of "brain drain" is happening now that medicine is becoming socialized whilst opportunities in tech and pharmaceutical development increase. In fact, I'd predict that you'll see premeds start coming here to learn about alternatives to medicine in pharmaceutical/healthcare-related finance as soon as they find out that they can make as much and more than physicians with less schooling, no grueling residencies, and none of the stress that goes into spending 8+ years on their medical educations after earning undergraduate degrees.

Doctor vs. Banker/Finance is the dumbest comparison I have ever heard of. Unless of course you're an lowly elitist douche canoe (which OP seems to be), they are two totally different career paths that really depend on the personality of the person.

Personally, I enjoy putting on a suit everyday, living and working in downtown, and getting into the math to close deals. I couldn't imagine working hours in a hospital and working with the human bodies. But hey, if you like science and saving lives, this might be the career for you. As I said earlier, I prefer math and the corporate atmosphere, thus finance is my choice.

Also to clear your "lifestyle" misconceptions, doctors work as hard as bankers. They work horrible hours, no matter how senior they are. My mom had leukemia when I was very young and those doctors came into the hospital at 2am when she was admitted on a regular basis. Also they give up many more years and so much money on getting through med school so when they get out, bankers are already at the Associate (maybe VP) level earning much more than a rotating physician.

The doctors like the one's who treated my mom, you know the ones who worked hard in life, are true heroes of our society. They cared and cured thousands of patients and I am forever in debt to them. So if they earn more than us, I am happy, they deserve it. However, the 'BeverlyHillsMD' type doctors are a different story. You know the type who works for one hour a day performing an unnecessary plastic surgery to make some gold digger's tit* bigger (or dick, I support equality). The type who takes the rest of the day off to cruise around in his rented S600 trying to pick up chicks. And the type who when he sees the girl is with someone in finance, he'll go home to angrily create a WSO profile and rant on the entire finance community.

In other words, find another forum to jack off your feelings into OP.

What is wrong with you ? Get a life .

I am a doctor in an oil and gas rich country, I probably make more than you and I am moving to finance because it's far more interesting for me .

I'm just going to leave this here....

http://www.modernhealthcare.com/article/20160922/NEWS/160929962?utm_sou…

You guys are missing the biggest issue with Ops argument:

Median age of banker= ~27Median age of doctor = ~47

The difference between finance and medicine is that doctors don't HAVE to have a terrible lifestyle, nor do they HAVE to live in expensive cities. My father is a physician. He used to make 400k+ working all the time. He got tired of working like a mad man, so he CHOSE to work 7 days on and 7 days off, making "only" 240k.

Having that ability to consistently have a week off while making more than most Americans is pretty sweet. I don't see that being a thing in finance. You either have to work a lot or a ton.

My dad's best friend is also a physician. He does ER work. That's the place to be. He gets paid $200 an hour, and does 12 hour shift work. This f*cker works 3 days one week and 4 days the next week making 400K. Sometimes he wants to buy something nice so he'll work extra shifts to splurge.

Yeah, but bankers don't have the $100s of thousands of med school loans.

Overall, is gives you a 3/10. Good attempt, but there are better trolls out there.

Lol this is by "Beverly Hills MD". It's funny as a fellow West LA denizen I am saying this, and I certainly hope you are not one of those plastic surgeons seeking a secretary and offering her fake boobs. Yes, this happened to me when I was in undergrad at the school that must not be named in L.A.

Understandably if you are world reknown surgeon you would have talk show gigs, books, etc. or if you have a cosmetic service to sell but at that point you are no longer just a physician but a business or salesman. Most doctors cap out around 500k. General practitioners make around 150k with debt from medical school, and your pay varies broadly based off of specialty.

I am sure most investment bankers on here, do not and besides they have a passion for finance, not decomposing whose tit* look better. Since you are a physician debating about compensation and not saving lives, I know that you might be one of those.

Get off of here and go back to Student Doctor Network and stop trolling people! Lol.

The move for doctors nowadays is starting their own clinic and owning multiple clinics and care centers. Doing this, of course, means that these people are more businessmen than actual doctors as most of the time, they do not actually practice medicine every day in favor of running the numerous clinics they own.

Some of my close relatives who are doctors claim that their colleagues who have been successful in these types of things make over a million dollars in as early as their mid-40's.

That may have been the move a decade or more ago, but nowadays not so much. Consider:

-Onerous and expensive regulations passed down by feds that dictate clinical practice procedures (stressing performance based outcomes now, instead of patient volumes) and expensive IT framework (EMRs). Ironically cost is being added into the system (demanding upgrading healthcare infrastructure / modernization of best practices) in order to take cost out of the system.

-Shift from volume based to performance based reimbursem*nt; incremental financial incentives now based on patient quality outcomes. Long gone are the days private practice clinician can churn through patients all day and send the bill to Medicaid / Medicare

-Increasing competition faced by mom and pop practices from rolled up physician groups operating at scale, allowing for better negotiation with payors and suppliers. Small practices can no longer compete on an economic basis

-Flight of physicians from small practices back into practicing in inpatient settings due to the factors mentioned above

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