Is medical school a good investment?

Engineering background + MD could mean some nice dollars in Pharma or some other R&D gig.

In a previous software development role, I worked with a guy with a PhD in applied math and an MD, both from Harvard. The guy was a textbook autist, but he made boatloads of cash as a consultant in the medical technology space.

I have been looking into this but how big is innovation in medicine?

Seems slow and doesn't most profit come from age old technology in that field anyway?

No, not worth it at all.

If you put the amount of effort you do into med school to start and get a business running, you will be a lot richer.

Starting a business really isn't that hard, just keep an open eye on what competitors are doing and do it better. Also, read up on business concepts & read business books to be more efficient.

After my Economics & Math double major I decided to drop out of the corporate world at 24, working in Wealth Management, and wen't on to start a business.

I was profitable to where I could cover living expenses within 8 months, and I made a lot of mistakes.

I run a logistics firm and we trips mostly form Colombus to Chicago and vice versa. I don't even know how to drive a truck properly.

My biggest obstacle was getting funding to get everything started, but I didn't have to draw much from my personal funds and could always bankrupt the business because I have a LLC.

It's really not that hard bro. Just find a relatively easy service, look at competitors, and try to be cheaper and more reliable.

You don't have the management fuckshow that larger corporations have and don't need as much work to stay profitable.

You wot m8? We have to pay for med school as well. Not as much as you do. The whole 'muh free college / university' has ended last year, sept '15

>completely skims over the fact that lifetime earnings are over double
LMAO someone's bitter.

Coming from a medical family, I think I can give a
bit of insight (I did not go the medical route).

Pros:
-Money
-Status

Cons:
-You will be in debt for a long time
-You forfeit the most prime years of your life
-You have to be poor for the most prime years of your life
-You have to deal with egos (particularly surgeons) day in and out
-You have to deal with the dumbest fucking people on Earth who don't realize eating shit and smoking and not exercising kills you
-Horrible hours/hard on family (if that bothers you)

Now, if you're smart enough to get into medical school, I reckon you're smart enough to earn a lot of money, a lot faster. In the amount of time and money it takes to go through medical school, you could start 4-5 businesses, only one of which needs to succeed. I don't see why you couldn't be wealthy in your late 20s through business ventures if you put your mind to it.

Actually attacking the validity of your opponent's argument is in itself an argument. But I'll humor you.

>High School Diploma - High school graduates can expect, on average, to earn $1.2 million in lifetime income.

>Bachelors degree - Those with a bachelor's degree, $2.1 million over a lifetime:

>High School to Bachelors - That average value of a 4-year degree is increased earnings income of $900,000, almost a million dollars.

>Masters degree - People with a master's degree earn $2.5 million:

>High School to Masters - Going from High school to a masters degree is worth $1.3 million dollars.

>Bachelors to Masters degree - A Masters is worth $400,000 in additional lifetime income.

>Doctoral degree - Persons with doctoral degrees earn an average of $3.4 million during their working life:

>High school to Doctoral - Doctorate earn a whopping $2.2 million dollars more than a High School graduate.

>Bachelors to Doctorate - Doctoral degrees earn $1.3 million dollars more than a Bachelors degree.

>Masters to Doctorate - Doctors earn $900 thousand more than a Masters degree holder.

>Professional degree - Those with MD or JD professional degrees (medicine, law) do best with an average of $4.4 million dollars in lifetime earnings:

>High school to Professional - Professionals can expect to earn $3.2 million dollars more than a High School graduate.

>Bachelors to Professional - Professional doctoral degree holders (MD, JD) earn $2.3 million dollars more than those with a Bachelors degree.

>Masters to Professional - Professional degree holders earn $1.9 million dollars more than a an average Masters degree holder.

Source: dba-oracle.com/t_increased_earnings_income_bachelors_masters_doctorate.htm

>completely skims over the fact that lifetime hours worked is doubled
LMAO someone's bitter.

> Implying the American medical board accepts foreign degrees

I think even if a foreign doc comes from a country with good schools, when they move here they have to go through all kinds of training and certifications to be accepted as a doctor here and practice.

This chart is way off.

An even bigger point is that many doctors move up to owning their own practice and not working under another doc. Depending on your specialty the money can be retarded.

There is a pain specialist in my neighborhood that brings in about $1 million per year.

>what is AVERAGE
High school dropouts also win the lottery. I guess high school degrees are a meme.

> dealing with dumb people that slowly kill themselves

This is what drives me nuts about medicine in America.

2/3 OF ALL MEDICAL COSTS ARE FROM FAT FUCKS AND SMOKERS. I kid you not. 2/3 of the entire health expense pie and fat pieces of shit that can't stop eating and Earl that smokes 2 packs a day.

Can you imagine caring for these idiots, propping them up, and not just wishing evolution would take it's course?

Just a friendly reminder that the more we take care of these fuckin idiots with medicine, the more likely they are gonna be to keep stuffing their faces and chain smoking.

> Average

Most doctors are making over $200k a year. don't know where the chart got the data from.

I personally know 6 doctors. Not one of them makes under $300k a year.

And I'm a high school school dropout making 500k a year running my own kneepad business.

>I've never known a teacher, or an accountant, or any other salaried professional who regularly works 60+ hour weeks as part of their job

Welp, I guess your ignorance can be both sword and shield.

depends on the things you value. but money wise yes.
and money gets you a few other things.

That said other life acumen really helps.
If you can't transition your massive income into investments you'll be stuck on one of the worst exercise wheels around.

You are simply implying that time is not worth anything to you, hence you believe the only important cost benefit analysis of a profession consists of comparison of possible income. I have heard this, but never from a doctor, always from a person lowest on a income bracket, financially illiterate. Have you no financial knowledge what so ever? How can you neglect the time spent obtaining the education and the time spent during the professional work itself? Doctors get such a full load of both, that they work their ass off until their late 60s, in some cases even their 70s, not mentioning their first 35 years spent studying and obtaining necessary qualifications.

Time is the most precious thing human has and you are throwing your personal time in a dump as a doctor.

I don't blame you if the reason for such belive is your ethical approach to your profession, no one should sacrifice their life for another only because it is expected of him, that's madness and you seem to be very mad. You are trying to deliberately approve it to stop regretting your choice of becoming a doctor.

Out of curiousity, how do you make money? What's your income?

>you seem to be very mad

Pot, meet kettle.

>You are simply implying that time is not worth anything to you

No. I'm directly saying that you know nothing whatsoever about the medical profession. Yes, doctors in SOME specialties work 60+ hours per week... but not in others, and not always. Doctors always have the option to go private practice and double or triple their income, on top of what their in house pharmacy makes. Doctors with high value specialties tend to double their incomes as well from what the base income of a doctor is.

>you are throwing your personal time in a dump as a doctor

No, you aren't. It's only another 4-6 (depending on if you need a PhD) years of school on top of your bachelor's, then your job as a resident pays just as well as a mid-level business or administration job, then the big money kicks in after 3-5 years of that. You aren't remotely behind the 8-ball by the time you're in your 30's, because in a few short years you have easily banked as much or more than someone who didn't go to med school.

Now if you want to do a bunch of crying about how doctors work so many hours, you are CLEARLY ignoring the hours worked by (to use your own example) teachers which is above and beyond the 40 hour week. They may spend upwards of 20 extra hours grading, doing lesson plans, evaluations, and shopping for supplies per week for a meager salary of 40k starting in some places.

The reality is this user: you're salty that Doctors make so much more than you doing something so much more prestigious, and you want to push the idea that they "aren't really" making more money for their invested time despite all evidence to the contrary. It's sad, and what's worse is that you might convince some poor sucker lurking Veeky Forums that it's true.

Look, I get it. You live on misinformation, and feeling that you're smarter than everyone else by taking positions that are contrarian and trying to prove that you're right, but frankly that's just sad.

No way. Guarantee America will have fully socialized medicine in the next 20 years. With that, doctors' salaries will plummet. Unless you have a passion for medicine, I advise you to pass.

This is what I'm worried about

Even if medicine is socialised doctors' pay will still be high. Even a GP in the UK, which has medicine socialised beyond the worst nightmare of the US, can earn £250k ($325k) in a year.

What's stupid is that it's not doctors raping our people of money. It's the insurance companies, medical management groups, and the pharma companies. These are the people that need to be cracked down on.

Doctors don't make most of the money from doctor visits though.

will they

in socialized countries they sill seem to make a lot

You seem not to be able to comprehend and realize the effect of compound interest over time and inflation in your earnings projection, you still believe that more money earned later in your life delivers more in terms of net worth growth than less money invested early in your life as someone who does not need to attend 15 and more years in education just to begin in the first place.

You certainly are a good choice as a doctor, not a good choice as a investor though. I pity you.

>you're salty
Not at all Doc. I am retired, $16 000 a month in rental income, $9000 in dividends per quarter and growing, no college debt, all properties fully paid off thanks to inheritance. 26 years old, MBA degree, I am mean and egoistic bastard, that's about it. Sorry for a late reply, but I am on a holiday and don't really give a shit about Veeky Forums that much.

Assuming bill is the doctor would he not be able to invest more then 5000 a year?

Do you have a rental company or do you manage the real-estate your self?