When economists published revealing data about doctor salaries, the backlash was intense. Why? And why do doctors earn so much more in America than in other countries?
When economists published revealing data about doctor salaries, the backlash was intense. Why? And why do doctors earn so much more in America than in other countries?
12 years of college + internship?
It’s a minimum of 4 years undergrad and 4 years of med school. Then indentured servitude as an intern, resident, and fellow which can add up to at least 3 years, but usually more than that. As a post-grad you work long hours for usually around minimum wage and doing all of the grunt work so administrators can make boatloads of money. The problem is not physician salaries, it’s the leeches that are the middle men of hospital admin and insurance companies.
Same could be said for any doctorate.
Their MD probably saves more lives than my math PhD :)
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Unfortunately it’s more the insurance companies that are the problem in that regard… gate keeping medications behind knowledge and caution isn’t a bad thing - it being prohibitively expensive is the problem.
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Often graduating with massive debt. By the time they’re making $350,000/year they’re just making up for lost time/salary they would’ve had in other professions and also paying down enormous debt.