As a current student, just want to note that St. George’s University (a Carib Med school) DOES offer US federal loans (which is great) Just a slight correction to what you said. Thanks for the video! Very informative
Most wealthy doctor I know, by several million, is a family doctor. Gotta be smart with business and focus on production and the loan will be dust in a few years regardless of specialty.
@@drbuckparker The US is really messed up. All Education including med-school is 100% free in Scandinavian/Nordic countries like Denmark, Norway and Sweden, you even get paid a student grant each month of about $1,110 to cover all your expenses as you study. Many other European countries have University extremely cheap like Germany at only 50 Euros ($59) per semester, they all still manage to be capitalistic first world countries. Additionally in Denmark and Norway for specialties like Neurosurgery and Orthopedic surgery the average salary of about $580,000 is approx. the same as the US, even higher in countries like Switzerland. Better work life balance and no crippling student debt.
I totally agree with you Dr Parker. Medicine is not only about saving the world. It is also a business and the medical student has to be smart in order to be the winner in that business transition
We spent the first year out of residence paying back the loans in full. Worked forever, retired 10+ years early, as millionaires. We always lived way below our means, still do, just comes naturally. And, have always been happy!
Hi! I'm 32 and thinking of going to med school in the future. I just wanted to say that I find your videos very helpful and real. Starting older and being a Cuban-American immigrant it's easy to doubt myself sometimes, but your videos are very inspiring so thank you!
I am starting dental school this August at 32! I think medical school is better for older non-traditionals though as the pay and opportunities are higher than a dentist, but no residency for a general dentist...so you do get start making $$ right out of school. Good luck in whatever you choose!
This is so true. I'm in my third year of residency and have nearly $500,000 of debt. Luckily the specialty I'm going into I should make good money so I can pay that off. Anyone who wants to go into medicine needs to see this video and know these facts!
Difficult to say. Every specialty has it's own difficulties. Neurosurgery you must have good manual dexterity as a surgeon and also be aware of the malpractice that can come your way if something goes wrong. Example - making a tiny error in surgery could cause devastating life consequences like paralysis, coma or death. A lot of times neurosurgeons will discuss neuroradiologists about difficult cases before they take patients to the OR. At the end of the day, they're both extremely difficult fields and you must be extremely interested/curious about the field if you want to succeed. That also applies for any area of medicine, or life in general.
"Learn how to build. Learn how to sell, if you can do both you'll be unstoppable"- Naval Ravikant. I really believe that's how anything can work in your favor to build true wealth. Thank you, for the funny realness in your talks, Dr. Buck!
There are some states that will suspend your license if you default on student debt, so although you can keep the education, you may not be able to use it to make money.
Loans are a pain to pay back. Got a bachelors degree and a chiropractic degree and it was expensive in the states. Then I moved to Sweden and got a resident permit and got a masters degree for free. For freeeeee😲 Now at the age of 32 I want to get my MD degree in Sweden for free as well. My goal was an MD/DC degree but I could only finish one. Free education that’s a dream, something that we Americans don’t have and probably will never have. I used to think I lived in the greatest country in the world but I think Sweden is the best country I ever lived in. Hate the winter for sure, but Sweden has given me more than any country in the world. Don’t get me wrong I will always be American and my home will always be LA but I also love Sweden 🇸🇪
Le Soleil I got married to an American Swedish citizen so that was my way of getting a resident permit. There are other ways to become a resident. Don’t quote me on this, but one is stabilizing a business is Sweden and that you can prove that you can take care of yourself and your business is making money. The other one is working in Sweden with a profession that they need like nurses. In Sweden they also have a shortage of doctors because here doctors don’t make as much money as in the states unless you have your own practice. The sad part is that in many countries in Europe you don’t waste your time in a bachelors degree to enter medical school. I want to get the MD degree so later I can move back to the states without worrying about paying back a penny. Some people would say it’s not free it’s from your taxes but we pay taxes in the states as well and we don’t have free school in every level nor free health care, nor free daycares starting at one year, mom with newborns can stay home 8-9 months with 80% of their work salary. Then daddy can stay the rest of the months until the baby is 1 year. I literally can go on with the benefits. For me free education was just a dream. You can always call the American embassy in Sweden and find out more. When we meet Americans that are here for vacation I swear they always ask what you asked me. Like I said there is nothing like home. I wish Sweden was the states for sure.
Its great but there are a higher percentage of working people in Sweden to cover all of those costs. Thats the difference. The US is a 1st world country and also a 3rd world country at the same time.
Buck Parker, MD Sweden has nailed down there system. It works for them and for there citizens. You pay a lot of taxes that for sure. The higher the salary the more you pay. At the end of the day if you calculate how much taxes you pay, in a lifetime you don’t even use half of that money. At the end of the day it doesn’t matter because everything is covered. It is sad that the states is not a place to live the American dream anymore because it doesn’t exist. The states has good things and bad things like any other country, but it should be better 😊
I am a med student and my country gives scholarships to study abroad, covers all tuition fees and provides a monthly salary. All for free and nothing to pay back 😶
I’m currently in the application cycle of medical school 🤞🏽🤞🏽 and I just want to learn a lot about medical school, residency, and finances so that I don’t make the same mistakes I made in college, so thank you for this honest advice! Ironically, I’m interested in pediatrics 😥 and I’m aware that they’re one of the lowest paid specialties but my mentality was always “I’m not in it for the money...I love kids!” Needless to say, if I go through medical school and find that pediatrics is the one and only thing I see myself doing, then sure, I’ll go for that specialty. But now, I have to keep an open mind and consider my financial future. Thank you!
For my CRNA doctorate the tuition was about $30K a year. If I lived on another $30K a year in student loans with federal interest rate around 5-6% over 3 years it’s about $200,000 in debt. Everyone just gives the advice to work 65 hrs a week when I get out and live frugal to pay off the loans in 2 years.
Nowadays there are about 4 medical schools in the Caribbean that offer Federal Student loans, including the American University of Antigua (I am a student and that's how I pay for school).
Agreed. Even as a nurse going getting my MSN, I had to step back and realize what my goals really are. My number one thing is to be able to save my back... the medical field is just another business. We initially want to save the world... then realize it’s so much more than just that. Good hearts still struggle quite a bit for sure!
I like your videos. You're a hilarious and chill dude and you say things like they are. Many people who talk about academic stuff and the such always wanna be super proper and what not and you just lay it out. My path to medical school is/will be hard and arduous but I believe in myself. Thank you for your videos as they help prepare a bit. About how long did it take you to pay back your loans? Also, could you possibly please make a video on how you go about staying up to date on practice essentials and new advances and techniques in the field that you need/should pick up?
This was key! Thanks for shedding some light on it. My whole dream of going into medicine was sparked by wanting to become a neonatologist, but it’s a specialty in pediatrics. So now I’m totally not sure!
BTW...most Family Practice and Pediatric Jobs do come with College Loan Payback as part of the compensation package...look at job offers on the internet,
Also government Doctor Jobs, working for the VA and the Military as a civilian, are eligible for the Education Debt Reduction Program (EDRP), a student loan payment reimbursement program. You must meet specific individual eligibility requirements in accordance with VHA policy and submit your EDRP application within four months of appointment. Approval, award amount (up to $200,000) and eligibility period (one to five years) are determined by the VHA Education Loan Repayment Services program office after complete review of the EDRP application
Yo Dr. Buck, I’ve been hearing a couple things about pay... Google tells me that the average pediatric doctor makes almost 200k but I hear a lot of doctors say they don’t make a lot of money... I don’t want to pursue a specific field and screw myself by finding out I’m making twice as less than I thought. Is the average really 80k?
Hey Tyler. I don't think it's an average of 80K but it is much lower than many other docs. However if you do an amazing job and start your own practice you can make more. You could also work for a large group or hospital and take on administrative duties and work your way up the corporate ladder if that's something you are interested in. Personally I would not go into Peds because of the finances, but many people are happy with the compensation they ge from it.
Why did you defer your loan until after residency if you made 1.2 million off of your website while in residency? Wouldn't you want to eradicate that interest ASAP?
first, taxes take almost 50%. second, that was over 2 years. third, it was the first time i made any money and was not smart about it. fourth, if you start to repay the loan you can't "re-defer" and I was concerned that the money would not continue to come in month after month. it was very new for me to make good money like that consistently and i thought i would screw it up at any moment. also the company i was making it from didn't support what i was doing so i thought they may cut me off. so for those reasons i didn't repay the loan. it's not like i got a lump sum of 1.2 mili.
Hey Michael. I think it's a great option. Only catch is they will send you to live where they want and not where you want. If you're OK w that then its a great deal.
hahaah you will be OK. EM is a great job. I think probably one of the best work/life balances with good pay. Although you can get burned out if you work at high volume places and you don't get rest on your downtime.
Hey Dr. Buck, How did you know that going to the school in the Caribbean would work? Like how did you know that your degree would transfer over to the US?
I know to some degree general surgery pay is less today than when I graduated high school in 1995. My dad was always a hospital administration back then in Chicago the average was $375k now I read it's $340k with inflation that's a big drop over 22 years.
Yes Kevin that's correct. It's a huge drop. But, you can make it whatever you want. Look at me I make like an extra $150 whole dollars per month from RUclips!!! haha. No but seriously you can use the skills you gain as a general surgeon to do lots of other things that make even more than 340k/yr. It's all perspective.
For endocrinology, do they usually make less than a typical family practitioner or any other field of specialty? I heard they usually have the highest satisfaction rates and work mostly normal hours.
Hey, man - just found you and loving your advice. Going into a pediatrics residency and interested in neonatology. What do you think about some of the pediatric specialties in terms of what they pay and getting those loans off my chest. For context, I'm maybe 120k in debt after a couple scholarships. I know I'm in a good position, but it may help for those that are worse off and are interested in pediatrics to know if going into a specialty can significantly improve the financial situation.
Hi Dr. Parker, I was thinking of attending DO school for medical school and was wondering if I should go into military medicine (they pay for your tuition but you have to work for them for like 5-7 years I think) if I get accepted because of how likely it is that I would match into primary care. Is this a good plan? Thanks!
Also, if cardiothoracic does not provide enough jobs, what is the best subspecialty in surgery to acquire a job? What area of surgery are all the jobs?
I think hospitalists is a great job. That's kind of how my job is set up and I think it makes for good work/life balance. Cardiologist make a shitload of money tho....much more than internal med. I think if I didn't do surgery I would do cardiology or radiology. Those are great fields which are interesting and make good money.
I love all your videos! As someone considering going back as a non-trad it's super important to consider the financials. Thanks for keepin' it real! For everyone else, the list of foreign schools that participate in the U.S. financial aid program etc has expanded. You can find the details here: studentaid.ed.gov/sa/prepare-for-college/choosing-schools/types/international#participating-schools.
Hey Dr. Buck, I'm an MS2, getting close to taking step 1, still undecided on what specialty I want to do, but I'm interested in plastics. hypothetically, what's your opinion on my chances as an IMG to match into a plastic surgery specialty? I know i would have to score around a 240. Do you have any colleagues that went into plastics as IMG's?
Is it a good idea to pick one speciality, say orthopedic surgery, pay off your loans fairly quickly, then switch to another speciality that you like more but pays less, like paediatrics?
Absolutely not from a financial perspective. You’re spending 4 years of under grad, 4 years of medical school, then 5 years of residency to become an orthopediac surgeon. Yes. An orthopedic surgeon might even make double what a pediatrician makes, so let’s put some numbers. For easy math lets say the surgeon makes 400,000 and the pediatrician makes 200,000. And now let’s say it takes you 5 years to pay off your student loans. Then you quit. And for at least 3 years, maybe more if you want to do a fellowship, you make 50-60 thousand because of residency. You’re missing out on either 600,000 dollars if you choose pediatrician or 1.2 million dollars as a surgeon. And that’s just the money. That’s not even talking about how stressful residency is, no matter what specialty you pick. It’s just not worth it. 200,000 dollars is still a lot of money to most people. All depends on your life style. If being a pediatrician makes you happy, go do it. Don’t waste 10 years of your life working as a surgeon if you don’t like it. You probably won’t make it.
Hi,i had appendix last year and i feel pain on my leg and my stomach.i just want to know if this is normal the comes once in a month.please what should i do i need your response thanks mistura
I have a tattoo on my hand. It's basically a metal square meant to represent armor, and then goes up my forearm like a gauntlet. In terms of competition am I at a major disadvantage? Or should I not worry about it?
Doctors do not make as much money as most people are led to believe. When analyzing the true cost of college versus a full 30 year (potential) ROI career, it differs for each doctor. When you then attribute the sheer amount of money you lose to taxes over your career this can further plunge you into the net loss. If you want to know more respond to this comment and I can help show you whether or not you will be net profitable as a doctor. I just need to know your salary (or a reasonable comparison) when comparing it to your $300,000 student debt.
Also, I think majoring in business and then going to med school is something I would do b.c like you and p90x I want to have a business in some way also. Lmk what you think
I was thinking the same. I have a tattoo on my hand. It's basically a metal square meant to represent armor, and then goes up my forearm like a gauntlet. In terms of competition am I at a major disadvantage? Or should I not worry about it?
U can major in business as long as u do the pre-req. I will let u know business degrees are pretty much useless. So, medical school path doesnt work out u are screwed.
Yo Dr.Buck , I am so confused on my career choice. I know you might not reply but check this out. CRNA vs a DOCTOR. If I become a CRNA I can make 160-250k with significantly less time and debt as a doctor in no way towards disrespect but honestly if you could make the same money doing something else would you ?
He's a surgeon and an actual doctor. CRNA is only anesthetic based. Surgeons make x2 160k. It's more about what you enjoy, I wouldn't go into a field having a mindset based off of how much money you'll make, but how you'd like doing it. But let's say if you were to be a doctor, your specialty of interest would be anesthesiologist, and you are debating crna because of less debt/good money/school time? Then I'd pick CRNA.
lol 80k a year for peds? I don't think it is that low but I understand your point haha. I went to the Caribbean as well and matched recently and I am about 180k Canadian funds in debt. The whole process is a fucking joke and education in general is the 21st century scam (truth, fuck the system).
As a current student, just want to note that St. George’s University (a Carib Med school) DOES offer US federal loans (which is great) Just a slight correction to what you said. Thanks for the video! Very informative
yess thank u!
Same with Ross University. Interest rates, however, are about 3% subsidized and 5-6% unsub.
Most wealthy doctor I know, by several million, is a family doctor. Gotta be smart with business and focus on production and the loan will be dust in a few years regardless of specialty.
yesssssss love this!! it all depends on what you make it!
@@drbuckparker The US is really messed up.
All Education including med-school is 100% free in Scandinavian/Nordic countries like Denmark, Norway and Sweden, you even get paid a student grant each month of about $1,110 to cover all your expenses as you study.
Many other European countries have University extremely cheap like Germany at only 50 Euros ($59) per semester, they all still manage to be capitalistic first world countries. Additionally in Denmark and Norway for specialties like Neurosurgery and Orthopedic surgery the average salary of about $580,000 is approx. the same as the US, even higher in countries like Switzerland.
Better work life balance and no crippling student debt.
Where is this fam med doctor practicing to have a net worth in the millions?
@@pchoisauce he probably has his own clinic or something
@@tonywalkerYougotswaw in the hamptons lol
Just a quick update... St George, Ross, AUC and Saba do offer a FAFSA (Federal Loan) nowadays
I think AUA and MUHS also do now.
I totally agree with you Dr Parker. Medicine is not only about saving the world. It is also a business and the medical student has to be smart in order to be the winner in that business transition
Thanks for the vid lol no hidings, these are the advisors we looking for
Welcome!!
We spent the first year out of residence paying back the loans in full. Worked forever, retired 10+ years early, as millionaires. We always lived way below our means, still do, just comes naturally. And, have always been happy!
Hi! I'm 32 and thinking of going to med school in the future. I just wanted to say that I find your videos very helpful and real. Starting older and being a Cuban-American immigrant it's easy to doubt myself sometimes, but your videos are very inspiring so thank you!
awesome!!!
Suggestion is to run from medicine. Run like u got a serial killer coming after u.
@Reinier Vigia, it is never too late! You can do it! Your determination will get you through. I have gone back at 36!! Dont give up on yourself.
I am starting dental school this August at 32! I think medical school is better for older non-traditionals though as the pay and opportunities are higher than a dentist, but no residency for a general dentist...so you do get start making $$ right out of school. Good luck in whatever you choose!
This is so true. I'm in my third year of residency and have nearly $500,000 of debt. Luckily the specialty I'm going into I should make good money so I can pay that off. Anyone who wants to go into medicine needs to see this video and know these facts!
LeonardMD what’s your specialty?
Radiology
Fitdoc_Lm which speciality do you think is more hard and complicated: Radiology or neurosurgeon?
Difficult to say. Every specialty has it's own difficulties. Neurosurgery you must have good manual dexterity as a surgeon and also be aware of the malpractice that can come your way if something goes wrong. Example - making a tiny error in surgery could cause devastating life consequences like paralysis, coma or death. A lot of times neurosurgeons will discuss neuroradiologists about difficult cases before they take patients to the OR. At the end of the day, they're both extremely difficult fields and you must be extremely interested/curious about the field if you want to succeed. That also applies for any area of medicine, or life in general.
Good luck with paying off that debt man
"Learn how to build. Learn how to sell, if you can do both you'll be unstoppable"- Naval Ravikant.
I really believe that's how anything can work in your favor to build true wealth. Thank you, for the funny realness in your talks, Dr. Buck!
You’re correct, about making less money yearly…happened to us towards the end. Decided to retire, working wasn’t worth what it actually costs to work🤯
Dr. Parker always talking the truth and telling it how it is. I absolutely love it! Very Insightful!
And by the way you always speak your mind and tell the truth Dr Parker. That is what I like about your videos
There are some states that will suspend your license if you default on student debt, so although you can keep the education, you may not be able to use it to make money.
Interesting Robert. Thanks for that info. Not a great idea to default of course.
Wow thank you.
Not alot of doctors out there will talk about this.
Loans are a pain to pay back. Got a bachelors degree and a chiropractic degree and it was expensive in the states. Then I moved to Sweden and got a resident permit and got a masters degree for free. For freeeeee😲 Now at the age of 32 I want to get my MD degree in Sweden for free as well. My goal was an MD/DC degree but I could only finish one. Free education that’s a dream, something that we Americans don’t have and probably will never have. I used to think I lived in the greatest country in the world but I think Sweden is the best country I ever lived in. Hate the winter for sure, but Sweden has given me more than any country in the world. Don’t get me wrong I will always be American and my home will always be LA but I also love Sweden 🇸🇪
Le Soleil
I got married to an American Swedish citizen so that was my way of getting a resident permit. There are other ways to become a resident. Don’t quote me on this, but one is stabilizing a business is Sweden and that you can prove that you can take care of yourself and your business is making money. The other one is working in Sweden with a profession that they need like nurses. In Sweden they also have a shortage of doctors because here doctors don’t make as much money as in the states unless you have your own practice. The sad part is that in many countries in Europe you don’t waste your time in a bachelors degree to enter medical school. I want to get the MD degree so later I can move back to the states without worrying about paying back a penny. Some people would say it’s not free it’s from your taxes but we pay taxes in the states as well and we don’t have free school in every level nor free health care, nor free daycares starting at one year, mom with newborns can stay home 8-9 months with 80% of their work salary. Then daddy can stay the rest of the months until the baby is 1 year. I literally can go on with the benefits. For me free education was just a dream. You can always call the American embassy in Sweden and find out more. When we meet Americans that are here for vacation I swear they always ask what you asked me. Like I said there is nothing like home. I wish Sweden was the states for sure.
Its great but there are a higher percentage of working people in Sweden to cover all of those costs. Thats the difference. The US is a 1st world country and also a 3rd world country at the same time.
Buck Parker, MD
Sweden has nailed down there system. It works for them and for there citizens. You pay a lot of taxes that for sure. The higher the salary the more you pay. At the end of the day if you calculate how much taxes you pay, in a lifetime you don’t even use half of that money. At the end of the day it doesn’t matter because everything is covered. It is sad that the states is not a place to live the American dream anymore because it doesn’t exist. The states has good things and bad things like any other country, but it should be better 😊
I am a med student and my country gives scholarships to study abroad, covers all tuition fees and provides a monthly salary. All for free and nothing to pay back 😶
Espie W American dream is alive and well, nothing is free you pay half of your taxes to the government.
I’m currently in the application cycle of medical school 🤞🏽🤞🏽 and I just want to learn a lot about medical school, residency, and finances so that I don’t make the same mistakes I made in college, so thank you for this honest advice!
Ironically, I’m interested in pediatrics 😥 and I’m aware that they’re one of the lowest paid specialties but my mentality was always “I’m not in it for the money...I love kids!”
Needless to say, if I go through medical school and find that pediatrics is the one and only thing I see myself doing, then sure, I’ll go for that specialty. But now, I have to keep an open mind and consider my financial future.
Thank you!
For my CRNA doctorate the tuition was about $30K a year. If I lived on another $30K a year in student loans with federal interest rate around 5-6% over 3 years it’s about $200,000 in debt. Everyone just gives the advice to work 65 hrs a week when I get out and live frugal to pay off the loans in 2 years.
All these doctors never talk about loans. So thank you. Also I love your view on the medical field. So realistic
Nowadays there are about 4 medical schools in the Caribbean that offer Federal Student loans, including the American University of Antigua (I am a student and that's how I pay for school).
Thank you for this very informative and insightful video. It was an eye opener and I appreciate your honesty.
Except for St. George's University. I just got a federal student loan for their MD program.
Thank is awesome. My mistake but that's great news!
Yeah, a couple Caribbean medical schools get federal loans. I got accepted to Medical University of the Americas and they have it.
American University of the Caribbean does too.
Ross gives federal loans too
Agreed. Even as a nurse going getting my MSN, I had to step back and realize what my goals really are. My number one thing is to be able to save my back... the medical field is just another business. We initially want to save the world... then realize it’s so much more than just that. Good hearts still struggle quite a bit for sure!
“Getting my” not going getting🤪
I like your videos. You're a hilarious and chill dude and you say things like they are. Many people who talk about academic stuff and the such always wanna be super proper and what not and you just lay it out.
My path to medical school is/will be hard and arduous but I believe in myself. Thank you for your videos as they help prepare a bit.
About how long did it take you to pay back your loans?
Also, could you possibly please make a video on how you go about staying up to date on practice essentials and new advances and techniques in the field that you need/should pick up?
This is scaring me. You’re so honest though, thanks.
Hi text Micheal on 5409998138 he’s an expect 💯💯💯💯💯💯💯💯💯💯 I got 35k$ within 10 minute all thanks to him for helping me out
This was key! Thanks for shedding some light on it. My whole dream of going into medicine was sparked by wanting to become a neonatologist, but it’s a specialty in pediatrics. So now I’m totally not sure!
just make sure you know the average salaries of neonatologists. they are diff from pediatrics but idk what they are
Buck Parker, M.D. alright, thanks!
3% interest is amazing!!!! Even my federal loan interest is higher than that.
Yes you may not be able to get that but if you can get close thats great.
BTW...most Family Practice and Pediatric Jobs do come with College Loan Payback as part of the compensation package...look at job offers on the internet,
Also government Doctor Jobs, working for the VA and the Military as a civilian, are eligible for the Education Debt Reduction Program (EDRP), a student loan payment reimbursement program. You must meet specific individual eligibility requirements in accordance with VHA policy and submit your EDRP application within four months of appointment. Approval, award amount (up to $200,000) and eligibility period (one to five years) are determined by the VHA Education Loan Repayment Services program office after complete review of the EDRP application
I go to SGU and have US federal loans just like students in the US
that is fantastic!!!!! congrats
You can get Federal loans for certain Caribbean schools.
Love your videos, you're a huge inspiration!! Keep it up!
FACTS! Thank you so much Dr. Buck, such an important topic!
Love this video and your grandmother quotes. More please.
Haha thank u I will!
Hi text Micheal on 5409998138 he’s an expect 💯💯💯💯💯💯💯💯💯💯 I got 35k$ within 10 minute all thanks to him for helping me out
Thankfully here in Australia, the student loans (HECS [Higher Education Contribution Scheme]) are interest free.
yea but u don't have guns so why u wanna live there?!! ;)
@@drbuckparker We hold people at boomerang-point and have throw-offs with the police
@@anorangewithacapybaraunder2370 What's a throw-off?
Great video Buck, I'm glad I have the opportunity to call myself an early fan 🙂
Thank you!!!! haha
The ending LOL. Doc, love the honesty! :)
Umm...the interest rate for federal unsubsidized loans for med school are all around 6-7%. Not 1%
Great video. For medical or non medical people alike.
Totally needed this. Appreciate for this video n being honest. U r awesome
1%? I wish. More like 6-7% rate.
Yo Dr. Buck, I’ve been hearing a couple things about pay... Google tells me that the average pediatric doctor makes almost 200k but I hear a lot of doctors say they don’t make a lot of money... I don’t want to pursue a specific field and screw myself by finding out I’m making twice as less than I thought. Is the average really 80k?
Hey Tyler. I don't think it's an average of 80K but it is much lower than many other docs. However if you do an amazing job and start your own practice you can make more. You could also work for a large group or hospital and take on administrative duties and work your way up the corporate ladder if that's something you are interested in. Personally I would not go into Peds because of the finances, but many people are happy with the compensation they ge from it.
Why did you defer your loan until after residency if you made 1.2 million off of your website while in residency? Wouldn't you want to eradicate that interest ASAP?
first, taxes take almost 50%. second, that was over 2 years. third, it was the first time i made any money and was not smart about it. fourth, if you start to repay the loan you can't "re-defer" and I was concerned that the money would not continue to come in month after month. it was very new for me to make good money like that consistently and i thought i would screw it up at any moment. also the company i was making it from didn't support what i was doing so i thought they may cut me off. so for those reasons i didn't repay the loan. it's not like i got a lump sum of 1.2 mili.
Just watching this video now and just wanted to say St Matthews does get US Federal aid started last year.
Also, there are schools in Europe and Australia that offer us loans.
what on your thoughts on the military paying for med school?
Hey Michael. I think it's a great option. Only catch is they will send you to live where they want and not where you want. If you're OK w that then its a great deal.
Candid! Real
Thank you for your candor. This info is good to know.
You are an amazing person
May god bless you
Thank you for your honesty! 🙏
Very informative. Thanks
I'm a current med student at Ross. We receive federal govt loans.
that is great to know thanks!
How can you make decent money 120 plus as a PA? Thank you for these videos even though I am not a Med student, I def learn a lot.
Diju Guha The average PA surgeon makes 115k
Love the honesty
Great video! Looking forward to get into emergency medicine...hopefully I can make the money back, otherwise my wife is going to be pissed lol.
hahaah you will be OK. EM is a great job. I think probably one of the best work/life balances with good pay. Although you can get burned out if you work at high volume places and you don't get rest on your downtime.
Can someone who is not a US citizen get any form of loan in any of the Carribean medical universities as i plan to school in the carribean
Very informative! Thanks!!
I'm starting MUA this spring. They are also approved for US federal Loans. :))
awesome!!!!!
I wanna be an Orthopedic Spinal surgeon...because I genuinely want to, but the compensation is A-Okay with me too! Hahaha
I applied with dbmarkconsult company and got the money
I fucking love your videos!
Hey Dr. Buck,
How did you know that going to the school in the Caribbean would work? Like how did you know that your degree would transfer over to the US?
I know to some degree general surgery pay is less today than when I graduated high school in 1995. My dad was always a hospital administration back then in Chicago the average was $375k now I read it's $340k with inflation that's a big drop over 22 years.
Yes Kevin that's correct. It's a huge drop. But, you can make it whatever you want. Look at me I make like an extra $150 whole dollars per month from RUclips!!! haha. No but seriously you can use the skills you gain as a general surgeon to do lots of other things that make even more than 340k/yr. It's all perspective.
For endocrinology, do they usually make less than a typical family practitioner or any other field of specialty? I heard they usually have the highest satisfaction rates and work mostly normal hours.
Hey, man - just found you and loving your advice. Going into a pediatrics residency and interested in neonatology. What do you think about some of the pediatric specialties in terms of what they pay and getting those loans off my chest. For context, I'm maybe 120k in debt after a couple scholarships. I know I'm in a good position, but it may help for those that are worse off and are interested in pediatrics to know if going into a specialty can significantly improve the financial situation.
I love your video!. I better be smart!
Hi Dr. Parker,
I was thinking of attending DO school for medical school and was wondering if I should go into military medicine (they pay for your tuition but you have to work for them for like 5-7 years I think) if I get accepted because of how likely it is that I would match into primary care. Is this a good plan? Thanks!
Hey! What are your thoughts on Orthopedic Surgery? Job growth and salary wise I think it would be my #1 choice.
ortho is great. one of the best for salary. residency is tough but not too tough. lifestyle is pretty good but can be super-busy as well.
How much in loans did you have from undergraduate?
I was lucky my parents paid for my undergrad.
Look up "White Coat Investor"
Also, if cardiothoracic does not provide enough jobs, what is the best subspecialty in surgery to acquire a job? What area of surgery are all the jobs?
Dr. Buck, as a general surgeon how much are you making?
Can u get denied for a school loan epsically if u dont have a cosigner or good credit?
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What's your opinion on Internal Med residency and then practicing as a hospitalist? OR Internal Med---->Cardiology fellow ?
I think hospitalists is a great job. That's kind of how my job is set up and I think it makes for good work/life balance. Cardiologist make a shitload of money tho....much more than internal med. I think if I didn't do surgery I would do cardiology or radiology. Those are great fields which are interesting and make good money.
Thanks for the input!
What about ophthalmology?
Hey! Can you do more videos over cases? I really enjoy the few you've done, I feel I can learn more!
Thanks Dr. Burk
I love all your videos! As someone considering going back as a non-trad it's super important to consider the financials. Thanks for keepin' it real! For everyone else, the list of foreign schools that participate in the U.S. financial aid program etc has expanded. You can find the details here: studentaid.ed.gov/sa/prepare-for-college/choosing-schools/types/international#participating-schools.
Can someone elaborate more on reimbursements and the seniors being pissed off?
Hi text Micheal on 5409998138 he’s an expect 💯💯💯💯💯💯💯💯💯💯 I got 35k$ within 10 minute all thanks to him for helping me out
Hey Dr. Buck, I'm an MS2, getting close to taking step 1, still undecided on what specialty I want to do, but I'm interested in plastics. hypothetically, what's your opinion on my chances as an IMG to match into a plastic surgery specialty? I know i would have to score around a 240. Do you have any colleagues that went into plastics as IMG's?
In fact I did. I had a co-resident who matched into plastics after 5 years of gen surg. She went to St. George
Dr. Parker, do you do any mentoring for people trying to get into MED school? Or is it just a RUclips thing?
Is it a good idea to pick one speciality, say orthopedic surgery, pay off your loans fairly quickly, then switch to another speciality that you like more but pays less, like paediatrics?
Absolutely not from a financial perspective. You’re spending 4 years of under grad, 4 years of medical school, then 5 years of residency to become an orthopediac surgeon. Yes. An orthopedic surgeon might even make double what a pediatrician makes, so let’s put some numbers. For easy math lets say the surgeon makes 400,000 and the pediatrician makes 200,000. And now let’s say it takes you 5 years to pay off your student loans. Then you quit. And for at least 3 years, maybe more if you want to do a fellowship, you make 50-60 thousand because of residency. You’re missing out on either 600,000 dollars if you choose pediatrician or 1.2 million dollars as a surgeon. And that’s just the money. That’s not even talking about how stressful residency is, no matter what specialty you pick. It’s just not worth it. 200,000 dollars is still a lot of money to most people. All depends on your life style. If being a pediatrician makes you happy, go do it. Don’t waste 10 years of your life working as a surgeon if you don’t like it. You probably won’t make it.
How much money does a general surgeon make? That is the only surgical specialty I am interested in.
250-650 depending where u are to start. then u can go up. I think the average is about 350
Buck Parker, M.D. That's great! Thanks
Hi,i had appendix last year and i feel pain on my leg and my stomach.i just want to know if this is normal the comes once in a month.please what should i do i need your response thanks mistura
I like how people scoff at 150k-200k for doctors as low. Most people would kill for that much money haha
After taxes...
And loans
And mortgage
Most people don’t have doctor loans to pay for either
Take $150,000 after taxes, loans, house car, food and living expenses and your eating TV dinners. Working 60-100 hours a week. Lol
I have a tattoo on my hand. It's basically a metal square meant to represent armor, and then goes up my forearm like a gauntlet. In terms of competition am I at a major disadvantage? Or should I not worry about it?
What’s the name of the song?
i think ross students DO get federal loans
Wow are you in Wyoming?
Hey, Indian students who are studying in carribean medical schools , They are eligible to get the loans ? plz can you advice me
sorry i do not know the answer to that.
I'm trying to be a cardiothoracic surgeon in texas am I lucked out for a job 0_0
Doctors do not make as much money as most people are led to believe. When analyzing the true cost of college versus a full 30 year (potential) ROI career, it differs for each doctor. When you then attribute the sheer amount of money you lose to taxes over your career this can further plunge you into the net loss. If you want to know more respond to this comment and I can help show you whether or not you will be net profitable as a doctor. I just need to know your salary (or a reasonable comparison) when comparing it to your $300,000 student debt.
Lmao I was actually considering the stock market with this loan!! There's a chance I cash out, right???
Why aren’t they making as much money anymore?
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what about neurosurgery? or pediatric neurosurgery? LOL
Also, I think majoring in business and then going to med school is something I would do b.c like you and p90x I want to have a business in some way also. Lmk what you think
Yes i think that's a fantastic idea. Although you may need to double major in Bio and Business to get the prereqs required for Med School.
I was thinking the same. I have a tattoo on my hand. It's basically a metal square meant to represent armor, and then goes up my forearm like a gauntlet. In terms of competition am I at a major disadvantage? Or should I not worry about it?
U can major in business as long as u do the pre-req. I will let u know business degrees are pretty much useless. So, medical school path doesnt work out u are screwed.
Yo Dr.Buck , I am so confused on my career choice. I know you might not reply but check this out. CRNA vs a DOCTOR. If I become a CRNA I can make 160-250k with significantly less time and debt as a doctor in no way towards disrespect but honestly if you could make the same money doing something else would you ?
He's a surgeon and an actual doctor. CRNA is only anesthetic based. Surgeons make x2 160k. It's more about what you enjoy, I wouldn't go into a field having a mindset based off of how much money you'll make, but how you'd like doing it. But let's say if you were to be a doctor, your specialty of interest would be anesthesiologist, and you are debating crna because of less debt/good money/school time? Then I'd pick CRNA.
I love you.
wow... charity starts at home
lol 80k a year for peds? I don't think it is that low but I understand your point haha. I went to the Caribbean as well and matched recently and I am about 180k Canadian funds in debt. The whole process is a fucking joke and education in general is the 21st century scam (truth, fuck the system).
Suddenly, i don't want to become a doctor.
Maybe you guys should stop spending everything you earn and invest 50% of your money into growth index funds.