But at least, I'm content with the fact that I'm dedicating a lot of my life doing something I am passionate about, and that I'm paid well. I strongly recommend basing life decisions on lazy Reddit posts. The doctors who work the longest hours are cardiologists, who report being on the job 60 hours per week. Whether physicians feel the pros outweigh the cons is really dependent on the individual. The other 2/3 complete residency in 5-7 years. Physicians earn around 150k and surgeons can earn up to 500k (orthopedics). Sure. Um... i couldn't understand the procedures but I want to, I will become a doctor, thank you Sir. There are many advantages to working in medicine. He then congratulated me. Don't feel selfish. It is a profession of respect. I’m not even the only hospital president to do so. But being a doctor isn't just about lots of sex and cocaine parties -- in … Personally, I know several of them, my father included. 7) Kids: One kid cost about $1,000 a month in living expenses. If I make $250,000/yr, that’s a monthly takehome of $15,000. Over the past week or so, I've been having thoughts about whether the lifestyle that enevitably comes with being a doctor is worth it. My hobbies? I think I would like to be able to follow patients longer and be involved, see how they progress, etc. They are qualified for many jobs. Take it as you will. I've applied to Med School twice before, but no dice. The time, cost of attendance, the 80 hour workweek in residency, and the paperwork you have to slog through is just not worth it if your heart is not into it. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. View entire discussion (20 comments) If I were to practice medicine, I'm more drawn to the General Practitioner side of things. I'm also 20 yrs old. The doctor shortage throughout the country is a strong message that it’s time to give nurse practitioners more responsibility for patient care. What the heck is a hobby? So in total, I would complete my training in 8-12 years. Don't get me wrong, I've done my research about the profession and am fully aware of it's pitfalls, and still definitely want to become a doctor, I just keep getting this feeling at the back of my mind that it's a massive sacrifice to make. I'm not sure what else to pursue that I can make a lot of money and like at the same time. I have been involved in research for novel therapies. (2.5% of “Base Pay/year after 20, and the “Base Pay” number keeps going up … I’m not the only doctor to be rejected time and again, and go on to have a successful career. It's not easy to switch specialties. Be sure to read the update at the end—you'll love … It isn't a vow of poverty. Doctors need chemistry. But being a doctor isn't just about lots of sex and cocaine parties -- in fact, it's mostly not about that at all. Second time I applied MD/PhD only (b/c $, i know, wrong reason), applied to 24 schools, interviewed at 9. Do I want to have one? Press question mark to learn the rest of the keyboard shortcuts. The vacation time you get is way more than any other professions in the USA get. This is a problem, a doctors work life balance isn't great from my understanding and observations of people I know. Haven’t calculated that one out yet. No. You need to sit down and have a conversation with yourself on what you … The economy is so bad now. Being Able to Help Others and Save Lives: The ability to cure the sick and provide care to those in need is an undeniably gratifying aspect of becoming a doctor. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. In monetary terms no, it’s not worth it at all. Still great pay but not as good as docs. Vet school is very expensive - if you do it on loans and don’t have state assistance you could wind up $500,000 in debt before you started, and won’t be making enough to pay that off effectively. But not all degrees are equal. Their parents, siblings, spouse, children, and physician partners all have expectations that their spending will be in keeping with their new position in life. Add in $11,000 in undergraduate student loans, $77,000 for master’s ($55,000 tuition fees health insurance + $22,000 living expenses). Additionally, the income for a doctor matters more for specialty. Just not sure which role on the team I wanna play. I got to college and honestly- got scared. 5) Mental Health: Physicians have a high rate of burnout, substance misuse, depression, and suicide. Don't feel bad. It is almost impossible to avoid student loans without family assistance these days (although MD/PhD programs, military service commitment programs, tuition-free schools, and the rare merit scholarship are still options).And the average student loan burden for the class of 2017 is $192,000, according to the AAMC. Being Able to Help Others and Save Lives: The ability to cure the sick and provide care to those in need is an undeniably gratifying aspect of becoming a doctor. So, Is Being a Doctor Worth It? depends on the doctor. I think being famous is great but after I read these reasons and thought about it I suddenly realised that it wasn't for me. Extended out over a year, this is $57,304 that would-be doctors are missing out on (on average) for at least their first four years of medical school. Doctors need to have the ability to say no. You see being a physician isn't so simple. At my school, this is the class that they use to weed pre-meds out, so they force a curve resulting in 25% of the class failing, 25% not scoring above a C, etc. On paper, being a doctor seems pretty great. So without hobbies, how do you cope with burnout? I have had the opportunity to be a television and radio personality providing medical information to the local community. Parental income, no matter how old the applicant is, must be included. Multiply the average lost earnings by four, and you end up with $229,216. Don't go to med school if you don't want to be a doctor and serve people. I ran some numbers. Also, if you choose to be an MD or DO, you should also consider which discipline you would best like. The money is good, it makes everyone around you feel inferior, and you get a diploma that literally gives you permission to play God. You raise a lot of valid points, but it also seems a lot of the numbers are completely worse case scenario which is probably unlikely. While some may think they would have been better off pursuing another profession, scores of doctors are incredibly happy they chose a career in medicine. “As a doctor, you won't be able to completely escape sad situations. The world is full of misconceptions about careers. 8) Professional investment opportunity flexibility: I train for 9 years to do one job. This conditional treatment frustrates doctors because they cannot offer their patients the proper health care they might need. Similar to undergraduate degrees your medical school means little. Here are four reasons why being a doctor is: 1. You bet it was financially. Medicine has new challenges and clinical practice changes all the time. the "was it worth it" boards), I hear what kind of masochistic hell this period is for people in their 20s, and I can only imagine that being older and trying to "do it all" will be even more challenging. The doctors who work the longest hours are cardiologists, who report being on the job 60 hours per week. 2. Google it. https://www.nerdwallet.com/investing/retirement-calculator. I just can’t find a place I like to call a home hospital. If not, when patients go to see the doctor, they won’t actually have a physician—they’ll have a hostage. Yes - it is worth it, the starting salary is good compared to many other roles. Yes, dentistry is a smart career choice for many, as it is one of the few jobs that brings in a good salary while offering a work-life balance. Yes, if you enjoy medicine and don't mind going through the med school and residency process, it is worth it. Your hobby will be medicine and your family for the next seven to eight years. Be prepared to give up at least 7 years of your life. Mostly it’s about $4k/month in CA. So even if you had $2,000,000 in student loan debt, if you can complete a loan forgiveness program, the amount of student loans you actually had to pay back with interest is much less than what you took out. Please read the rules carefully before posting or commenting. You'd make more more as an emergency medicine doctor vs. being in family practice. I come from a tech background and haven't yet stepped foot in a college. It's fine to think about retiring earlier, or later. Having the satisfaction of helping out another fellow human being. You're not competitive for MD or PA school with that cGPA. I'm also 20 yrs old. Still, it seems like a risk worth taking. A lot of the time you bring the work home with you after doing work for 12 hours. This post might be better in a sub where your going to hit more doctors. The big thing is to pick the type of doctor that best suits you. If I make $200,000/yr, that’s a monthly takehome of $12,000. Removing the masters reduces the debt by about 20%, which is substantial. I live with my mother and grandmother. You shouldn't do it. I'd like an answer from someone who's willing to give me an honest and detailed answer. idk. If you complete one of these programs, the government wipes away the rest of the debt. Could I appeal? However, keep in mind that this salary only kicks in if you get past residency (which is notoriously difficult). Doctors sacrifice the majority of their 20's and early 30's trying to pass rigorous exams throughout their undergrad, medical education, and residency. There could be some profound truth in there, but I doubt the USDOL knows what it is. OMG!!!! Im glad to hear its worth it b/c around here i hear there is no more money in FNP compared to what Im making after being a nurse for 20 years. But it's 100% manageable. The Medscape survey, however, reveals that only 11 percent of doctors consider themselves to be rich. I think that passion really needs to be there to get you though the many years of difficult schooling, and to dig yourself out of the hole you create by going to med school. It’s not worth it. Currently second year family med resident. That’s fine if science and the pursuit of knowledge and skill is all you aim for in life, but most would say that’s not a life. So where are you now? If you want to be rich....pick a different career. Assuming I attend a private medical school, complete a 5-year residency/fellowship, I start my first job $555,000 in debt. His advice was to sub specialize (I assume he meant not spreading yourself too thin) and take time watch my kids grow (I told him I have 3 kids). Recently, I’ve began to question whether it’s a reasonable decision to become a physician, as opposed to a biomedical engineer. As experts in science, biology, wholeness and wellness, doctors remain influential members of society. You must have a passion for it...for anything you choose as an occupation or you will be a miserable pathetic lump of sad flesh. You have to do it because you love it, not because of the money. I realized after quite a bit of soul-searching that I never really needed to be a Doctor, but I wanted to feel like one. But will that be enough to keep me engaged? I didn't have the grades and just did not want to commit. With government student loan forgiveness programs, there’s currently a natural ceiling on the effective maximum student loan burden physicians can face. You bet it was financially. My advice to you: Go find what you have a passion for and enjoy doing that for the rest of your life. And they will continue to be the foremost authority on health and wellness for a long time. The Bureau of Labor Statistics reports median annual income for physicians at $166,400. A few points! If I go MD, I would be 33-37 at the end; (if MD/PhD, I’d be 37-41). There are various r/whitecoatinvestor is one that kind of hits that doctor/pf market. So, third time's the charm, right? Yep, I have limited experience on the business end of BME (aside from performing device testing for small-medium size artificial circulatory device companies). Fee waiver? many will definitely tell you yes, but there are quite a few doctors out there that are burnt out or made a mistake in being a doctor and are pidgeon-holed into being physician due to debt or lifestyle or other reasons. Pharmacy is saturated and not worth the investment, unless you want a ton of debt with less than stellar job options. Career-wise and money-wise? On paper, it seems like becoming a doctor is a safe way to make a lot of money. I'm like you, I want weekends, I want to be debt free, I don't want to take my job home with me. Pharmacy is saturated and not worth the investment, unless you want a ton of debt with less than stellar job options. Image Source : https://depositphotos.com/. I also know many who love the 80 hour weeks and throw themselves into it. It’s not unlikely that I would be accepted into medical school. It sounds like you could do so much with it. Do you even know if you have a passion for medicine or at the basics, like it? Physicians are still considered the most capable of any profession, and they are always in the top 3 for most honest/respected, and are pretty much the gold standard for most prestigious. Press question mark to learn the rest of the keyboard shortcuts. Apply to 30 schools, interview at 20 schools, that’s $11,000. I'm 26 years old and I had wanted to be an MD since I was little. They make less but the balance is available. However, if you don't enjoy dealing with people and being rushed then it is probably not worth doing it. I’m not even the only hospital president to do so. Or two? 4. Simply put, being a doctor has become a miserable and humiliating undertaking. Is it worth it, yes, in some cases and no in others. If you truly enjoy the work, and teaching to the class, the hours are great. “As a doctor, you won't be able to completely escape sad situations. Not everyone is cut out to be a doctor. Flight attendants are often viewed as being the waiters and waitresses of the flying world, but their job duties are much more comprehensive than handing out snacks and sodas. Another major difficulty for doctors is that everyone else sees them as rich, even if their incredibly negative net worth actually ranks them as being some of the poorest people on the planet. 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