RCP90 Posted June 25, 2008 Report Share Posted June 25, 2008 Hello, After searching the forums, I was searched google to find out the average salary for physicians across Canada, and I saw numbers as low as $63K. I always thought it would be more like $500K+. I've even heard of new grads making upwards of $200K, so this was a real shock. Anyone care to comment please? Thanks. Link to comment Share on other sites More sharing options...
George Posted June 25, 2008 Report Share Posted June 25, 2008 $63K is the low end for a reason - there's also investment bankers that make $25K $500K is equally atypical - only the highest paid specialties most of the time, and even then being in that specialty doesn't neccesarily guarantee anything $200K sounds reasonable for a newly minted staff physician in most specialties, but a "new grad" (aka. "resident") is lookin' at mid-five-figures, regardless of specialty (see: http://www.carms.ca/eng/r1_program_salaries_e.shtml) Link to comment Share on other sites More sharing options...
leviathan Posted June 25, 2008 Report Share Posted June 25, 2008 Hello, After searching the forums, I was searched google to find out the average salary for physicians across Canada, and I saw numbers as low as $63K. I always thought it would be more like $500K+. I've even heard of new grads making upwards of $200K, so this was a real shock. Anyone care to comment please? Thanks. Nope, you better become a lawyer or go into business. Link to comment Share on other sites More sharing options...
George Posted June 25, 2008 Report Share Posted June 25, 2008 Nope, you better become a lawyer or go into business. or at least put those dreams of a bmw suv and a palace in rosedale on the shelf Link to comment Share on other sites More sharing options...
krgregg Posted June 25, 2008 Report Share Posted June 25, 2008 to my knowledge, Physicans in ontario are capped @ 100k/quarter ($400k/year, but the gov. mandated that they have to work the full year and can't just take off when they finish the billing period)...kind of a ****ty deal. i know a number of surgeons in alberta that are billing well over 500k/year. anaethesia is around 350-400k/year some of the dematology guys here are billing close to 2mil/year...yay for private practice... Link to comment Share on other sites More sharing options...
Dal07 Posted June 25, 2008 Report Share Posted June 25, 2008 to my knowledge, Physicans in ontario are capped @ 100k/quarter ($400k/year, but the gov. mandated that they have to work the full year and can't just take off when they finish the billing period)...kind of a ****ty deal. Actually, that's not true. There used to be a cap, but that doesn't exist anymore (for at least the last 4 years). Family doctors in Ontario who signed up with the FHG/FHN (Family health groups/networks) can make upwards of $425000 if they keep a large roster of patients. No one is really "mandated" to work a certain amount of hours, but family docs who signed on with this deal have to ensure that their patients are taken care of when they are off/on vacation by their colleagues. Surgeons in Ontario can make well over $450000 in a busy practice. Link to comment Share on other sites More sharing options...
xylem29 Posted June 26, 2008 Report Share Posted June 26, 2008 Actually, that's not true. There used to be a cap, but that doesn't exist anymore (for at least the last 4 years). Family doctors in Ontario who signed up with the FHG/FHN (Family health groups/networks) can make upwards of $425000 if they keep a large roster of patients. No one is really "mandated" to work a certain amount of hours, but family docs who signed on with this deal have to ensure that their patients are taken care of when they are off/on vacation by their colleagues. Surgeons in Ontario can make well over $450000 in a busy practice. Good to know. Link to comment Share on other sites More sharing options...
xylem29 Posted June 26, 2008 Report Share Posted June 26, 2008 Nope, you better become a lawyer or go into business. Nah man - it's the exact same thing man. People in those fields say "well, you better go into medicine". It's all a misunderstanding man - for the most part, medicine is the most stable high income profession of the three. It's not like you can just go into law or business and then make $500K - in fact, that's far from true man. Getting an MBA doesn't guarantee you a high salary that even comes close to the majority of physicians/dentists - the average salary for an MBA would be in the range of $70-$100K - and these guys work just as long as any doctor. As your salary increases, the hours and the pressure increases. Not everyone will succeed in I-Banking or become a high ranking executive - you have to work very hard and have the right social skills (and be good at what you do) to get there. As for law - same thing, the more money you make, the more hours you work. New law grads work around 60-80hours a week man, and they don't earn $200K. Many law grads go into legal publishing afterwards and make like $35/hour - not that much, really. So there's highs and lows - yes, it does seem that the higher limits seem to be in business (only certain fields like I-Banking though) and law (only if you go into private practice with a large firm), if you choose the right area to specialize in, otherwise, you could earn less than the lowest paid physicians. I think, if you really want to make the money and you were unable to get into the higher paying specialties, you just need to be business savvy. I know that from IM, you can do fellowships in laser surgery - boom - laser clinic, partner up with an ENT or plastics with the required fellowship training and you've got a lucrative cosmetic business. There's probably streams for FPs too! Join those FHMs groups! Form a 24hour FP practice where you have several docs on call, etc. I dunno, there's so many ways to make money as an FP. Link to comment Share on other sites More sharing options...
medordie Posted June 26, 2008 Report Share Posted June 26, 2008 Surprised you guys are still talking about this, the answer is found in the 'Dentistry vs Medicine' thread in the Dent subforum. If you want money and a cushy lifestyle, Dent seems the way to go! (Should be less competition for medical school next year guys..lol) Link to comment Share on other sites More sharing options...
xylem29 Posted June 26, 2008 Report Share Posted June 26, 2008 Surprised you guys are still talking about this, the answer is found in the 'Dentistry vs Medicine' thread in the Dent subforum. If you want money and a cushy lifestyle, Dent seems the way to go! (Should be less competition for medical school next year guys..lol) b/c of the cohort finally being done with right? Link to comment Share on other sites More sharing options...
unknown user 7 Posted June 26, 2008 Report Share Posted June 26, 2008 I think, if you really want to make the money and you were unable to get into the higher paying specialties, you just need to be business savvy. I know that from IM, you can do fellowships in laser surgery - boom - laser clinic, partner up with an ENT or plastics with the required fellowship training and you've got a lucrative cosmetic business. There's probably streams for FPs too! Join those FHMs groups! Form a 24hour FP practice where you have several docs on call, etc. I dunno, there's so many ways to make money as an FP. Or even more simple plan would just do what a few other docs do and head south. Although apparently everyone sues each other in the states. Link to comment Share on other sites More sharing options...
unknown user 7 Posted June 26, 2008 Report Share Posted June 26, 2008 Nah man - it's the exact same thing man. People in those fields say "well, you better go into medicine". It's all a misunderstanding man - for the most part, medicine is the most stable high income profession of the three. It's not like you can just go into law or business and then make $500K - in fact, that's far from true man. Getting an MBA doesn't guarantee you a high salary that even comes close to the majority of physicians/dentists - the average salary for an MBA would be in the range of $70-$100K - and these guys work just as long as any doctor. As your salary increases, the hours and the pressure increases. Not everyone will succeed in I-Banking or become a high ranking executive - you have to work very hard and have the right social skills (and be good at what you do) to get there. As for law - same thing, the more money you make, the more hours you work. New law grads work around 60-80hours a week man, and they don't earn $200K. Many law grads go into legal publishing afterwards and make like $35/hour - not that much, really. So there's highs and lows - yes, it does seem that the higher limits seem to be in business (only certain fields like I-Banking though) and law (only if you go into private practice with a large firm), if you choose the right area to specialize in, otherwise, you could earn less than the lowest paid physicians. I think, if you really want to make the money and you were unable to get into the higher paying specialties, you just need to be business savvy. I know that from IM, you can do fellowships in laser surgery - boom - laser clinic, partner up with an ENT or plastics with the required fellowship training and you've got a lucrative cosmetic business. There's probably streams for FPs too! Join those FHMs groups! Form a 24hour FP practice where you have several docs on call, etc. I dunno, there's so many ways to make money as an FP. b/c of the cohort finally being done with right? I would assume so. Although I still think that there will still be trickles from the double cohort...or at least the persistent ones. Link to comment Share on other sites More sharing options...
medordie Posted June 26, 2008 Report Share Posted June 26, 2008 b/c of the cohort finally being done with right? Could be... I'm mostly just being facetious that since we all found the answer that money is in Dent now, Med apps will be down Link to comment Share on other sites More sharing options...
unknown user 7 Posted June 26, 2008 Report Share Posted June 26, 2008 Could be... I'm mostly just being facetious that since we all found the answer that money is in Dent now, Med apps will be down Hahahahahahaha, It'll be interesting to see how many people on this forum will now look into dents more. Link to comment Share on other sites More sharing options...
xylem29 Posted June 26, 2008 Report Share Posted June 26, 2008 Could be... I'm mostly just being facetious that since we all found the answer that money is in Dent now, Med apps will be down oh lol, that's a good one! Link to comment Share on other sites More sharing options...
xylem29 Posted June 26, 2008 Report Share Posted June 26, 2008 Hahahahahahaha, It'll be interesting to see how many people on this forum will now look into dents more. It's not just money that drives people into medicine - there's also the social status that's associated with the profession. I know a few people that just don't want to go into dentistry, despite knowing about the lifestyle and pay - they must become doctors, lol. Me on the other hand, I'm switching gears and will try my luck with dental admissions. Link to comment Share on other sites More sharing options...
unknown user 7 Posted June 26, 2008 Report Share Posted June 26, 2008 It's not just money that drives people into medicine - there's also the social status that's associated with the profession. I know a few people that just don't want to go into dentistry, despite knowing about the lifestyle and pay - they must become doctors, lol. Me on the other hand, I'm switching gears and will try my luck with dental admissions. I was just making a joke. Link to comment Share on other sites More sharing options...
xylem29 Posted June 26, 2008 Report Share Posted June 26, 2008 I was just making a joke. oh oops Link to comment Share on other sites More sharing options...
unknown user 7 Posted June 26, 2008 Report Share Posted June 26, 2008 oh oops That's right, you better recognize. Lol. Link to comment Share on other sites More sharing options...
rogerroger Posted June 26, 2008 Report Share Posted June 26, 2008 If you are gunning for dents try to spend some time in a dental office shadowing before you apply. I did this years ago and to make a long story short my drive to become a dentist went the way of the dinosaurs... Depending on the medical speciality, I think you can have a comparable salary and have a much more stimulating job IMHO. But that's just me... Whatever floats ones boat! Link to comment Share on other sites More sharing options...
Jectin Posted June 26, 2008 Report Share Posted June 26, 2008 If you want to, you can become rich as a doctor. You just got to invest properly. Some specialties gross very high >350K on average and if you are on the higher end of some specialties you can gross around 800K-1M. Higher end general practitioners can gross up to 450K. I believe I read somewhere last year that billing above 450K subjects you to a new "tax" whereby 2/3 of everything you gross above 450K is taken away from you. If you add overhead and taxes, it doesn't seem like much but like come on, you didn't think you were gonna be living like the Hollywood celebrities right? J Link to comment Share on other sites More sharing options...
leviathan Posted June 27, 2008 Report Share Posted June 27, 2008 Nah man - it's the exact same thing man. People in those fields say "well, you better go into medicine". It's all a misunderstanding man - for the most part, medicine is the most stable high income profession of the three. It's not like you can just go into law or business and then make $500K - in fact, that's far from true man. Getting an MBA doesn't guarantee you a high salary that even comes close to the majority of physicians/dentists - the average salary for an MBA would be in the range of $70-$100K - and these guys work just as long as any doctor. As your salary increases, the hours and the pressure increases. Not everyone will succeed in I-Banking or become a high ranking executive - you have to work very hard and have the right social skills (and be good at what you do) to get there. As for law - same thing, the more money you make, the more hours you work. New law grads work around 60-80hours a week man, and they don't earn $200K. Many law grads go into legal publishing afterwards and make like $35/hour - not that much, really. So there's highs and lows - yes, it does seem that the higher limits seem to be in business (only certain fields like I-Banking though) and law (only if you go into private practice with a large firm), if you choose the right area to specialize in, otherwise, you could earn less than the lowest paid physicians. I think, if you really want to make the money and you were unable to get into the higher paying specialties, you just need to be business savvy. I know that from IM, you can do fellowships in laser surgery - boom - laser clinic, partner up with an ENT or plastics with the required fellowship training and you've got a lucrative cosmetic business. There's probably streams for FPs too! Join those FHMs groups! Form a 24hour FP practice where you have several docs on call, etc. I dunno, there's so many ways to make money as an FP. I think you're missing the point. There's not a heck of a lot of money for all of the time you need to put into it. That's why so many medical students become depressed or even commit suicide in the upper years. If you aren't in it for the right reasons, you will become extremely unhappy with your life. Link to comment Share on other sites More sharing options...
rogerroger Posted June 27, 2008 Report Share Posted June 27, 2008 If people want numbers here is what I dug up from the CMA site. It is also a bit dated... Remember this is before taxes and expenses etc. According to the Canadian Medical Association: CANADIAN AVERAGE INCOME IN 2001-2002 Psychiatry - $168,065 Physical Medicine – $182,000 Family Medicine – $190,000 Pediatrics – $203,000 Neurology - $222,000 Anesthesia – $228,000 Emergency Medicine – $234,000 Plastic Surgery – $260,000 Internal Medicine - $271,000 Neurosurgery - $271,000 Cardiology – $278,000 Orthopedic Surgery – $285,000 General Surgery - $286,000 Dermatology – $290,000 Obstetrics/Gynecology – $296,000 Otolaryngology - $322,000 Urology - $325,000 Thoracic/Cardiovascular Surgery – $397,000 Ophthalmology - $398,000 Link to comment Share on other sites More sharing options...
Jectin Posted June 27, 2008 Report Share Posted June 27, 2008 check OMA and you will see that those numbers are truly outdated Link to comment Share on other sites More sharing options...
what Posted June 27, 2008 Report Share Posted June 27, 2008 I think you're being a little melodramatic there. Students don't get depressed because of how much doctors make; they get depressed because they're having to study on Friday and Saturday while their friends are off having fun. Many feel as if they're wasting away their twenties in front of a book, but almost everyone feels that way. I'm sure somewhere or other, the person who decided to pack so much information into 4 years is laughing in his grave. But once real work starts and careers begin, most people will end up loving their jobs. In the end, some doctors will be jaded by the whole medical system, but that's a function of many different things. I mean, there's good money in medicine. It's not going to be as good as it is in other fields like dentistry, per hour, but it's not bad. We're making well over 6 figures for a job that we (hopefully) love. I'd rather do that than looking at teeth all day (no offense to dentists, I feel the same way about things like gastro or geriatrics). But docs will complain regardless, which is understandable I guess. Link to comment Share on other sites More sharing options...
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