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12 hours ago, member_225 said:

In the long run I think it's worth it too, I'm just saying if we're talking short term (up until mid thirties) you won't exactly be making bank. Especially with a 300k-400k loan, you'd basically be making minimum wage for a number of years, something you could have started doing at 16 yrs old. Just something to consider. As for buying the dental practise, I actually talked to my dentist about this when I thought of pursuing dentistry. You'd be an idiot not to take a few years to associate and build speed/skill under another dentist's supervision. If not, it's lawsuits waiting to happen, not just from your patients, but staff as well LOL

the same can be said about opening a new practice.  you're not guaranteed any income for quite some time.  With that thought process, you're better off working at mcdonalds with your DDS/DMD - but you're not going to do that because you're betting off trying to build up your patient base and hope in the long run that your earning potential will be 10X more or higher.  Doing dentistry isn't a short term investment.

Edit: nothing wrong with working at mcdonald's. After dealing with difficult patients, I sometimes wish I was working in fastfood again.

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Long term dentistry is better. But also the McDonald’s worker can work his way up to managerial positions after many years of knowing the ins and outs and possibly earn more. In and out managers earn 160k on average. 

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8 minutes ago, member_225 said:

Long term dentistry is better. But also the McDonald’s worker can work his way up to managerial positions after many years of knowing the ins and outs and possibly earn more. In and out managers earn 160k on average. 

When the dentist retires and sells off the practice(s), they do get a hefty paycheque! But anyways, this is why I hope people understand dentistry is not the only career making $$$. Yes dentistry has a higher ceiling for pay but on average, if your chasing 6 figures there are tons of other careers in healthcare, as well as finance/business that can get you there. 

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1 hour ago, member_225 said:

Long term dentistry is better. But also the McDonald’s worker can work his way up to managerial positions after many years of knowing the ins and outs and possibly earn more. In and out managers earn 160k on average. 

Perfect examples of other ways of making over 6 figures. 

 

My parents didn't even finish high school or have a proficient grasp of the English language but managed to make over 6 figures a year running their own restaurant.  But that involved long working 16 hour days, everyday of the week.  This was the late 90s to mid 2000s.  Good money, really shit lifestyle.

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I find it LAUGHABLE that all of you are going into this field for the MONEY. I, for one, am choosing to go into this career to ENJOY the unique and uncomparable experiences of the field of dentistry. I CAN'T WAIT until I get the opportunity to develop carpal tunnel, chronic back-pain, arthritis, crippling depression, and overwhelming debt. How can a 9-5 office job at an accounting firm POSSIBLY compare to the daily spectacles of vomit comets splattering on to my brand new $9.99 plaid Joe Fresh button up or the humbling feat of crying myself to sleep everynight with the haunting words of cute little 5 year old Sally from church echoing through my mind as she tells me "Dentists are all med rejects." Can't ask for a better way to spend the next 40 years of my life.

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Honestly I've only been practicing about 2.5 years and I already feel like I've aged at least twice that. Some mild eye, neck & joint issues creeping in that I have to nip in the bud before they get worse.

That along with the long hours & commutes and trust me, if someone offered me a less physically taxing way of making a 6-figure income, I would happily take it. 

I certainly don't plan on doing this forever. Once again it's only one part of my life and I have to find aspects of it that I enjoy and love and hold onto those things, but I am actively making sure it is not the primary part of my life because I think I'd shoot myself from the exhaustion & stress. People doing this for the money thinking it's an easy paycheque (or even a stable one) are going to be sorely disappointed. And people investing half a million dollars before even seeing a dime of it? That is the most mind-boggling part to me. Because even if you had ZERO debt from school itself, dentistry is still a massive delay-of-gratification type investment, since the avenue to both income and work-life balance is practice ownership, but the first 5-10 years of that is brutal, simultaneously trying to pay your business loan, build a patient base, manage your staff, raise a family/buy a home, etc. etc.

There are many avenues in dentistry but I think the folks who think "Oh, I go to school, I come out and work a 9-5 job and I feel fine and I make good money and I'm set!" couldn't be more wrong.

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I actually really love the job of being a dentist.  I’m not going to say that it’s the best job out there but I very rarely dread going to work.  

My main stress with this career is financial.  And I’m not that even bad off right now.  It’s the future that scares me.  

I was born and raised in Toronto and I’ve started my own family here and (perhaps against my better judgement) recently bought a home here.  

I have a pretty good job situation right now (as far as Toronto is concerned).  My income isn’t sky high but it is sufficient.  But this job will eventually end.  Perhaps in 10 years or perhaps in a month.  I am very certain at that point that I will not be able to find a similar level of income within a reasonable commute from my house.  Then we’ll have to sell the house and move (likely far away).

Also, having just finished a tax return I decided to look at my income history.  I’m 6.5 years out of school.  My income peaked in my second year and has dropped by about 2-3% per year since then.  This is not itself a disaster but it’s moving in the wrong direction and indicative of the current reality.  

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36 minutes ago, Ostracized said:

I actually really love the job of being a dentist.  I’m not going to say that it’s the best job out there but I very rarely dread going to work.  

My main stress with this career is financial.  And I’m not that even bad off right now.  It’s the future that scares me.  

I was born and raised in Toronto and I’ve started my own family here and (perhaps against my better judgement) recently bought a home here.  

I have a pretty good job situation right now (as far as Toronto is concerned).  My income isn’t sky high but it is sufficient.  But this job will eventually end.  Perhaps in 10 years or perhaps in a month.  I am very certain at that point that I will not be able to find a similar level of income within a reasonable commute from my house.  Then we’ll have to sell the house and move (likely far away).

Also, having just finished a tax return I decided to look at my income history.  I’m 6.5 years out of school.  My income peaked in my second year and has dropped by about 2-3% per year since then.  This is not itself a disaster but it’s moving in the wrong direction and indicative of the current reality.  

May I ask why you feel you will lose your job soon? Is it because of the amount of saturation facing the GTA or another reason? 

 

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1 hour ago, VivaColombia said:

May I ask why you feel you will lose your job soon? Is it because of the amount of saturation facing the GTA or another reason? 

 

I work with an older dentist who will not work forever.  I have no plan of buying the practice.  I couldn’t make it work financially.  Although he has no plan to retire right now, eventually he will have to. 

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On 11/2/2018 at 1:19 PM, DURP said:

In my first year of working experience: I have been working 3 part time associateships for about 9 months in the GTA. There are ups and downs in income from month to month, I am expecting around 120k gross first year out. Finding jobs seems quite competitive, my principle dentists mentioned they get around 80-150 apps for an associate position posted online. 

Ostracized estimate of 0-200k is super realistic

Wow, that sucks. I'm doing my undergrad in UMichigan right now and the dentists/dental students here are telling me that most new grads make over 150k comfortably right after school. Some are saying it's common to get $500-800 USD /day minimum depending on where you sign. But that being said their tuition here is a lot more and getting a dental licence here is a lot more work since it's a series of real patient/typodont board exams in addition to part 1 and part 2.

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