Salaries by Specialty

[japlanet]

Derm, path, neuro, opthal, plastics, rads are IMO the most epic fields in medicine and you really dont get to experience them in significant ways (if at all) in clerkship. DO ELECTIVES!!!!

 

Not to mention, medical biochemistry, medical microbiology, genetics, community medicine for those who like good lifestyle + basic science.

[futureGP]

Not to mention, medical biochemistry, medical microbiology, genetics, community medicine for those who like good lifestyle + basic science.

 

isn't it hard to get a job with medical biochem, medical microbio, comm med in big cities?

 

i really love basic sciences, but i'm scared i won't be able to get a job in toronto (i plan on living there)

 

same with hematopath in toronto :S

[futureGP]

If you're a "futureGP" as you so named yourself, you shouldn't have to worry about getting a job in the Tdot.

 

that wasn't my questions though lol

[jerkstore]

What's the average FP making now?

[futureGP]

CanadianForces pays $134,182 as entry pay with all benefits + no overhead. Max $184,138 (level 7, you can get level 7 after 7 years of practice).

this is for family med.

 

So, civilian counterparts would be on average $250 000? take home $130 000 (excl. overhead + taxes)

[jerkstore]

CanadianForces pays $134,182 as entry pay with all benefits + no overhead. Max $184,138 (level 7, you can get level 7 after 7 years of practice).

this is for family med.

 

So, civilian counterparts would be on average $250 000? take home $130 000 (excl. overhead + taxes)

 

 

Isn't it funny that the Canadian government pays physicians salaries, gives the physician $250,000 then immediately takes 50% of it away.

[holiday1001]

50% marginal rate, not 50% overall.

[futureGP]

Isn't it funny that the Canadian government pays physicians salaries, gives the physician $250,000 then immediately takes 50% of it away.

 

that is pretty funny... it's a waste of tax money --> all the admin, tax processing etc.

[JB.]

I know threads generally evolve, but can future discussions of "how much will I make" go to another thread? I'm really enjoying reading tips on clerkship and I'd rather this thread not turn into another money and prestige topic.

[aaronjw]

I know threads generally evolve, but can future discussions of "how much will I make" go to another thread? I'm really enjoying reading tips on clerkship and I'd rather this thread not turn into another money and prestige topic.

 

Agreed!!!!

[apache]

invest your corporate income in a holding company, rent the location to the shop next door as a pharmacy, and u have 15 percent income tax, plus tons of write offs pre-tax... and pay staff as employees and in ways that include leases of vehicles... which is an expense... business 101... educated upper middle class always more taxes than people who run own business, lol.

 

Isn't it funny that the Canadian government pays physicians salaries, gives the physician $250,000 then immediately takes 50% of it away.

[apache]

ftyeah, but they pay for your school, pay you 50 g a year in school, and will pay you fm salary if u want to specialize after your 4 years service... which means more service, but its a tradeoff...

 

CanadianForces pays $134,182 as entry pay with all benefits + no overhead. Max $184,138 (level 7, you can get level 7 after 7 years of practice).

this is for family med.

 

So, civilian counterparts would be on average $250 000? take home $130 000 (excl. overhead + taxes)

[ghost dog]

Isn't it funny that the Canadian government pays physicians salaries, gives the physician $250,000 then immediately takes 50% of it away.

 

Incorporate.

 

When you finish residency, find a good accountant.

[Mandibular]

That is if you can.

 

My buddies in path are fretting right now because the primary mode of employment tends to be on a salaried basis. And of course that means the docs have no autonomy and get underpaid while the admins get fat.

 

But most docs won't have this problem. Go for something that allows independence.

 

what would you suggest?

[rmorelan]

That is if you can.

 

My buddies in path are fretting right now because the primary mode of employment tends to be on a salaried basis. And of course that means the docs have no autonomy and get underpaid while the admins get fat.

 

But most docs won't have this problem. Go for something that allows independence.

 

Under paid? Isn't pathology a pretty well paid specialty with a great lifestyle/hours mix. 300K a year where you can leave your work at the office, have a completely predictable schedule, and generally low stress? They do lack autonomy is a since but a lot of specialities have enough autonomy to hang themselves - yeah a surgeon can control to a great extend when they do things as long as they do it for a lot of hours a week, with a support team they cannot really control (nursing schedule, clerks/residents etc) and only for as much OR time as they decide to give them Many (but not all) other specialties are similar.

[moo]

That is if you can.

 

My buddies in path are fretting right now because the primary mode of employment tends to be on a salaried basis. And of course that means the docs have no autonomy and get underpaid while the admins get fat.

 

But most docs won't have this problem. Go for something that allows independence.

 

Salaries have their benefits--pension, paid vacation, extended health, stability.

 

Of course, after doing a residency in which most residents go into jobs that are salaried, I've decided I miss my autonomy and am mostly doing contract work when I'm done--a mixture of family practice, teaching on contract, research, and consulting. I really miss that "work when you want, piss off when you want" type of mode. And since I already am incorporated, it doesn't make much sense for me to be salaried as I'll lose a ton of money in taxes.

 

Just a sense of how much you can make when you're out on your own-I make approximately 20-30% more than what my attendings make in my specialty, as a resident + part-time GP, even when you tack on the 30% benefits they receive. When you're doing this well as a resident, it's hard to justify going to a salaried position when you're done.

[cheech10]

300 K is not that great as a salary. Family docs in major urban centres can make significantly more depending on how they set up their practice, and specialists even more. Also, there is a significant potential benefit to incorporation (income splitting with family members and tax deferral) that is not available to employees.

[justletmein]

300 K is not that great as a salary. .

 

Gotta love salary discussions on premed forums.

The grass is always greener, right??

[rmorelan]

Gotta love salary discussions on premed forums.

The grass is always greener, right??

 

ha yeah, this is way doctors don't openly talk about salary/pay much. To general public it just sounds like a pile of money (and well it is comparatively). It serves them little advantage to discuss it

[The Journey Man]

300 K is not that great as a salary. Family docs in major urban centres can make significantly more depending on how they set up their practice, and specialists even more. Also, there is a significant potential benefit to incorporation (income splitting with family members and tax deferral) that is not available to employees.

 

300K is an absolutely fantastic income. I have no idea what you're talking about. Thats anywhere from 3-5x greater than other professionals with graduate degrees including lawyers, engineers, architects who go through tough training periods as well.

 

I dont think people appreciate how good it actually is. 4 years of medical school, where only 1 year is REALLY tough, and the rest of the years (1-2, and 4th) are not that bad where if you're efficient work 50+ hours per week. And even 3rd year is not THAT bad especially on light rotations like psych and family medicine.

 

Then if you do family medicine, some rotations are tough but its not like its super tough hours wise all 2 years. Many rotations you can get by working ~50 hours a week.

 

So basically for a couple years of tough hours, and then say 4 years worth of regular professional working hours you end up getting 300K for working ~50 hours a week (a regular professionals work week). THats insane amount of money for not THAT much input relative to other professionals.

 

I think neurosurgery/gen surgery have it bad, for there 9-10 years of input only get a little extra income for greater hours. ~350-400K for 60-70 hours a week after a grueling residency, thats more unfair for the level of input.

[futureGP]

300K is an absolutely fantastic income. I have no idea what you're talking about. Thats anywhere from 3-5x greater than other professionals with graduate degrees including lawyers, engineers, architects who go through tough training periods as well.

 

I dont think people appreciate how good it actually is. 4 years of medical school, where only 1 year is REALLY tough, and the rest of the years (1-2, and 4th) are not that bad where if you're efficient work 50+ hours per week. And even 3rd year is not THAT bad especially on light rotations like psych and family medicine.

 

Then if you do family medicine, some rotations are tough but its not like its super tough hours wise all 2 years. Many rotations you can get by working ~50 hours a week.

 

So basically for a couple years of tough hours, and then say 4 years worth of regular professional working hours you end up getting 300K for working ~50 hours a week (a regular professionals work week). THats insane amount of money for not THAT much input relative to other professionals.

 

I think neurosurgery/gen surgery have it bad, for there 9-10 years of input only get a little extra income for greater hours. ~350-400K for 60-70 hours a week after a grueling residency, thats more unfair for the level of input.

 

true say.

 

4-years of med school, sure if you want to study hard you can, but you can be a fam doc passing preclerkship barely over 60% (Which is quite easy)

Just don't screw up in year3, and travel around in year 4

2 more years of not-as-difficult residency as others

then you practice with potential to get 300k/year

+ more depending on how business savvy you are.

 

Money isn't everything, which is why medicine is so great since there's so much more you can get from medical practice.

[lostintime]

Why else do you think there is such an increased interest in family med over the recent years? All because of the shortage of family doctors? (As if there isn't a shortage for other specialties....have you seen waiting lists for ortho, but of course OR's cost too much).

 

Family med is great bang for your buck indeed. Maybe not as much as plastics and derm, but even that can be debated, 2 year residency is extremely nice.

[ghost dog]

true say.

 

4-years of med school, sure if you want to study hard you can, but you can be a fam doc passing preclerkship barely over 60% (Which is quite easy)

Just don't screw up in year3, and travel around in year 4

2 more years of not-as-difficult residency as others

then you practice with potential to get 300k/year

+ more depending on how business savvy you are.

 

Money isn't everything, which is why medicine is so great since there's so much more you can get from medical practice.

 

Don't kid yourself, working with the public isn't always a walk in the park.

 

As a family doc you're going to have difficult patients, and stress,etc.

 

300 K is pretty optimistic.

 

You would need to see lots of pts to make this kind of dough, although it's obtainable. Lots of work though. Having said that, lots of patients ( and hence more stress).

[futureGP]

Don't kid yourself, working with the public isn't always a walk in the park.

 

As a family doc you're going to have difficult patients, and stress,etc.

 

300 K is pretty optimistic.

 

You would need to see lots of pts to make this kind of dough, although it's obtainable. Lots of work though. Having said that, lots of patients ( and hence more stress).

 

what's wrong with you, i'm saying in a relative sense, it's a pretty sweet ride compared to other professions where your also under a lot of stress

 

of course, there will be difficult patients and stress etc, are you now trying to lure everyone away from fam med? what's wrong with a bit sense of positive publicity for the one specialty that is chronically needed

[rmorelan]

what's wrong with you, i'm saying in a relative sense, it's a pretty sweet ride compared to other professions where your also under a lot of stress

 

of course, there will be difficult patients and stress etc, are you now trying to lure everyone away from fam med? what's wrong with a bit sense of positive publicity for the one specialty that is chronically needed

 

nothing of course - but ghost dog is right in some of the negative points. Of course most specialities have quite a bit of stress as well - arguable a lot more - for similar pay I guess. None of the specialities are a complete bed of roses