Would you still pursue medicine if salaries were same as high school teacher level?

[rmorelan]

Well, some of us have spouses that have very high-paying jobs. As well, some of us non-trads worked for years, making very good money, so have considerable savings in the bank.

 

I could easily make more money by just staying in my current field (especially if I went and obtained an MBA). Instead, I have decided to pursue medicine because it interests me, not because of the paycheque.

 

On a more serious note that was a situation similar to mine. I could be be computer programmer again tomorrow and pull in a very competitive salary when you consider all the time/loans etc. I guess there needs to be balance - you need to provide for you family but you also have to show your family they can pursue and achieve their dreams. You can get into an endless cycle of people living only to provide for their kids.

 

I guess I should say that on a teachers salary (particularly if you have a spouse earning about the same) you can actually achieve everything the poster mentioned. Doctors don't have a lock on providing for their families of course

[Erk]

As many have said, I'd do it for a teacher's salary if the education and workload were similar. Job security is certainly a reason I've pursued medicine, but the money itself isn't really... I just want to make a living commensurate to the effort I've put into the career.

[ldnk]

I'd love to say that I would still be in medicine, but that's pretty tough. Teachers don't make a bad salary but their overhead isn't remotely the same. Could you imagine paying for malpractice, not having benefits through a union for retirement, etc. while working longer hours and considerably more training (4 year undergraduate + 4 year medical + 2-5-7 years residency/fellowship) versus (4 years undergraduate + 1 year teachers college).

 

Just comparing teaching versus medicine. You can take up to 4 years off your job for maternity and still keep your position at your school (obviously not paid after the first year).

 

Same salary, (take home after fees), same benefits, and yeah, I think it would be an easy decision as I would have a hard time committing to a different path, but to get the same salary, have the added responsibilities and wind up with less money long-term because of union rights, that would be hard once you start getting up in age.

[kylamonkey]

I see no reason I would not. In the Yukon, a teacher's starting salary starts at over $60000 and goes up to over $90000, and that's without having a Master's degree.

 

There's no reason you can't support a family on that kind of money. I don't have a desire for the biggest house and biggest car, biggest vacation, etc. I don't even expect to make any more than that as a physician anyways.

[obi]

I don't even expect to make any more than that as a physician anyways.

 

You're gonna have a lot of days off....

[Mithril]

Well, you'll make more just in your first year of residency than a teacher who makes a taxable $60k income.

[thehumanmacbook]

I think I still would, but I would love a voice acting job on the side.

[future_doc]

all things are possible

[teachertodoctor]

I just wanted to give my two cents...

 

I actually am a teacher in Alberta, and have been for almost 7 years now. However, due to:

 

a)cuts

b)veteran teachers not retiring

c)teachers continually asking for and getting raises

 

I have been unable to secure a continuous contract (otherwise known as the holy grail of teaching), even though I have passed my probationary evaluations and have been recommended for a continuous contract. Thus, I decided last November that I would try to follow my younger brother's footsteps and become a doctor (applying this fall for 2012).

 

 

Anyway, this isn't about me and my sob story--just laying the groundwork for my thoughts on the issue at hand...

 

Teachers in Alberta are among the most highly paid in the country. As I have six years of university education, if I max out on the salary grid (after 11 years of experience), I would be earning just over $95,000, and that doesn't include the 4-ish percent increase coming for this year, which will obviously push the top salary very close to 100k.

 

There is, of course the idea that teachers get (at least) two months off, not to mention Christmas break (two weeks) and the week-long breaks in November and March/April.

 

Then there's the truly excellent benefits package, the cost of which is almost entirely borne by the school district (I think we pay something like 5% of it).

 

So being a teacher really isn't a bad gig, if you can get in and stick! I know lots of them complain, but I tell you I cringe every time I hear that we're getting another raise, because it lessens my chance of getting a job!

 

One more thing...the pension is just okay, not amazing, but don't forget that the money for said pension comes out of our paychecks, to the tune of many hundreds of dollars per month for a full time teacher. So it's more like a forced-savings program than a perk, if you think about it. You could fairly easily take that money, invest it yourself (and probably do better), then buy an annuity to fund your retirement, all on your own. So it's nothing special.

 

So to close out my (very long) first post, I would seriously consider saying YES to the original question, but for me at my age (34 this year), if I'm going to take on close to 200k of debt, I don't have 30 - 40 years to pay it back. I want it gone in 10 years for sure, and closer to 5 would be nicer.

[future_doc]

Thank you for sharing this remarkable insight!

 

I wish you well as you embark upon seeking to join the medical profession.

[future_doc]

I could be be computer programmer again tomorrow and pull in a very competitive salary when you consider all the time/loans etc. I guess there needs to be balance - you need to provide for you family but you also have to show your family they can pursue and achieve their dreams. You can get into an endless cycle of people living only to provide for their kids.

 

Personal, family and professional fulfillment are very important and doable goals. Living a balanced life as a physician is achievable, at least I have witnessed many role models enjoying their practices and serving their patients, understanding the business side of running a practice (e.g., knowing when and where to buy a building for their practice and other physicians to rent, etc.), spending quality time with their spouses and children, taking several vacations a year that are spaced out and earning sufficient funds without making money the end game. Money is important but not the motivating factor; if it was about money, I would have cloned a Canadian friend 12 years my senior who earns more than $1M/year as an investment banker on Wall Street.