bluedevilmike

So I've just used my econ major nonsense to calculate the "net present value" of various careers.

A net present value is: take the money they'll earn over their lifetimes. How much of a present sum (say, a lottery) would they have to earn to have an equal value of money, when you take time into account?

Assumptions: 7% interest rate, salary computations for 27708 zip code based off of salary.com. Retirement at 65. Bonuses included where relevant (Corporate Finance).

* * * * *

Auto Mechanic: $720K
Chemical Engineer: $740K
Family Practitioner: $910K
Corporate Attorney: $1 M
Interventional Cardiologist: $1.12 M
Neurosurgeon: $1.28 M
Corporate Finance: $2.6M

* * * * *

Don't forget, doctors work much longer hours than the others, so the fact that they make 10% more than a corporate attorney is a REALLY bad deal.

Finally, you should expect doctor salaries to continue to drop over time, possibly quite severely.

* * * * *

Whether or not people who are becoming doctors for the money are being ethical or whatnot, they're certainly not behaving wisely in a financial sense.