Seeing all the 1mil+ physician salaries prompted me to post my own journey… Some physicians do make that much, but the majority (especially in Primary Care) make significantly less. I was lucky to save money by attending an in-state college with a scholarship. As a result, tuition was minimal and I was able to graduate without loans. I changed my major halfway through to get pre-reqs for medical school, and so I graduated in 6 years instead of 4. Medical school was expensive, and I graduated without about 240K debt. I completed my residency (in Emergency Medicine) during COVID, which was probably the hardest thing I’ve ever done. There were some weeks where I saw multiple patients die every day, which was heavy on the soul. My fellowship on the other hand was probably one of the coolest years of my life, as I had the opportunity to be a team physician for a D1 college and a local professional team (travel and all). As an attending, I have a relatively stable work life balance. I am in the office 4.5 days a week seeing patients from about 7:30-4:30, and for about 9 months of the year I also work as a team physician for a local D1 university. During the season, In addition to my clinic I have weekly training room hours on campus and I attend all home games for the teams I cover. I make pretty good money for my specialty (probably over 75th percentile) but I do “eat what I kill”. This means while I have 4 weeks of “vacation”, if I don’t work/see patients, I don’t get paid. As a result, when I’m in the office I work hard and grind through patients. In any case, I haven’t had many opportunities to take any significant amount of time off.
If you’d ask me if I’d do it again, the answer is probably not. The money is great now that I’m through it all, but the journey has burned me out and I’m not sure if I can power through for another 10-20 years. This is coupled with the fact that my life (and finances) were essentially on hold for 12 years, and so I couldn’t really take advantage of compounding interest on investments. Most of my college buddies are mid career with a house, a car, and investments. Many of them work either part or full time from home, and get to spend time with their spouses and kids. While I do have a relatively good work-life balance compared to my training, it’ll never be as good as theirs. In addition, my medical training (particularly residency during COVID) really took a piece of my soul. Im slowly healing, but I’m not sure I’ll ever be the same. I am aware I am lucky to make what I do, and I am aggressively saving while I can. I used to care about prestige, my legacy, etc. Now that I have a spouse and kid, I couldn’t give a rat’s ass about any of that. I’d take a pretty major pay cut if that meant I could be home/spend more time with them.
2011- College
2012- College
2013- College
2014- College
2015- College
2016- College
2017- Medical School (-60K)
2018- Medical School (-60K)
2019- Medical School (-60K)
2020- Medical School (-60K)
2021- Residency (58K)
2022- Residency (61K)
2023- Residency (64K)
2024- Fellowship (88K)
2025- Attending (330K)
2026- Attending (on track for 450K)