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blah1234 last won the day on July 24 2019

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  1. To build upon the analysis above. The quality of life you have now (hours wise) may not be attainable for a while until you finish your training. You mentioned a pension? Is it a defined benefit pension? You may want to calculate out the true value of that as it may not be insignificant. Small issue but don't forget the issue of tax brackets. Making less money over a longer period of time generally means you keep more of it than making a high income and being in a higher bracket. There are always ways to mitigate that like incorporation but broadly that's a consideration you want to have as well.
  2. I'm sure you could find some sort of community clinic observation. I'm not sure if schools would take you due to the lack of insurance that is normally provided by medical school or residency.
  3. Would you be able to elaborate further on your goals that require a significant income (e.g. buy a 1M cottage home) and the potential timeline you would like to reach it by (e.g. At age 40)? While for most people I would counsel them on the merits of doing the job out of interest, I think in your case there seems to be a component that may be determined fairly accurately through financial modelling. As a non-trad myself the math doesn't always work out if you have earlier life goals. I think for many people you do come out ahead in medicine but it is often at the tail end of your career rather than the midpoint where you could be equivalent (although you have mentioned your career caps out at 90K so perhaps not for you).
  4. If you enjoy or can tolerate FM I think it's a great choice. Most of my friends in FM find pleasure in their job and if not find good balance with their other life goals. I think doing a specialty doesn't preclude you from achieving other life goals but it is more of a challenge or compromise for sure. At the very minimum residency can be a very long and rough part of your life. Even though I enjoyed the subject matter and the work the long hours and lack of autonomy and independence does weigh on you heavily. Also the exam year is no joke unlike FM.
  5. Thanks for doing the math. Still lots that we don't know as so much of the data is obfuscated. WIsh we had access to the CRA returns but that's an impossible wish haha. I do think pre-tax income is the best way to look at this as most public salaries are pre-tax anyway. Another interesting metric would be layering on hours worked/responsibilities. Some elements would be difficult to quantify but in my personal experience some of my hours are relatively relaxed and I feel overpaid while others are extremely stressful and I'm 100% underpaid. Maybe I'll take a position with the government one of these days to figure out the truth as they have the most complete data set haha.
  6. Any chance some of these billing codes represent groups that pool their billing under one person for administrative and reimbursement ease? The end number is still probably high but not as high as what is reported on those statements? Also hard to get a good picture without de aggregating the overhead as well. I suspect in some cases some individuals with high billing amounts also have much higher overhead for buying their own equipment or something. Doesn't really change your argument that MDs are compensated well which I agree with. However, I am skeptical about some of outliers though. I haven't worked in Alberta though so I only know what my colleagues tell me.
  7. Yea, I think there's no real protocol for inter-province transfers. I can't remember any cases where the student took the funding with them. The only cases I'm aware of are where there was an agreement between two programs and essentially people swapped places without money moving around.
  8. Yea, your funding doesn't come with you if you leave. Transferring along formal protocols is really the only option unless you want to leave medicine entirely.
  9. It's all about risk tolerance and what you're willing to accept. You're correct, it may only take an additional year of attendinghood to pay off the marginal debt but here are a couple of considerations: 1) You may not want to be a surgeon at the end of medical school 2) You may not get surgery even if you want it 3) You may not enjoy medicine at the end of the training 4) The true impact of compound interest over the span of a working career (that 100k difference of debt is not truly 100k at the end of your career) I am fortunate that I enjoy what I do but I work with many people who are not as enthusiastic as they were when they were medical students. I'm a big believer in keeping life sustainable and working towards happiness. If those purchases will keep you balanced in life then you don't have to justify that to anyone else but yourself. However, I would caution students to not spend like they are printing money for the rest of their career because you never know how life might change in the upcoming 30+ years.
  10. I think $40-50k year is a good estimate. Tuition is in the 20s and living costs in the 20s for an entire year isn't unreasonable depending on where you live. Some provinces has lower tuition too so be aware of that but I'm not surprised when I meet Ontario students who have ~200k in debt. You can pay it off as a staff but it never hurts to be fiscally responsible. Don't compromise too much on convenience as clerkship/residency can be hard enough without the stressors of normal life.
  11. I can't say that things will stay that way forever in tech. However, if you're disciplined I think you can be financially stable even if you get in at this point. However, that is easier said than done as people in their 20s are often irresponsible with their income (myself included). I'm not sure if medicine will stay this highly paid either forever. I feel like Canadian finances are in shambles and we do well because of our proximity to the US. I have to imagine that there would be some sort of reform south of the border as the cost of care gets increasingly unaffordable for the majority of the population. I suppose I can't use past trends and extrapolate forever into the future but I think we are still in an era where the multi-talented who are in medical school could've found equal success in other fields.
  12. I'm not a GP making ~$100k and I have no interest in working rural to make more regardless as I am happy with where I am and my current financial situation. My friends are all L5s or higher now which is a total comp of ~$350K+. Many of them entered at around L3 which a little less than ~$200K. I never said all CS students achieved that but my friends who relocated to the US were able to do that just fine by putting in the time and effort. I honestly don't think they've had to work as hard as many of my classmates and I during residency and they don't do regular call like me as a staff.
  13. Usually go with Dr. Lastname unless we are close and have a good relationship. But I wouldn't lose sleep over this. A really minor slip up.
  14. Yea, I pay it forward and do advice and reviews for free. Medicine is hard enough to get into as it is and I don't feel right biasing towards families that can afford it.
  15. You're right we shouldn't discount the level of privilege some of us have. It's difficult to quantify but it's there. Also I use "a lot" and that can mean different things to different people. All I mean as it's not just the typical medicine, dentistry, law, etc.
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