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What's the verdict on which of two to go into for a hardworking college student with good grades and balanced academics in both science and humanities?
A target salary of over $160k is desired (for the opportunity cost of law or med school and the debt to be worthwhile).
Which has more job stability and career growth?
What's the long-term (25 years out) prospects for either career?
Does law require a lot of patience? I've heard my cousins describe doing discovery, doc review, drafting for big law firms, and it often sounds really dry and tedious, to an outsider at least. Is this just the nature of corporate law? Or do cases get more exciting as you move up the ladder?
Do you have time for family if you do medicine? I know residency has grueling 80 hour work weeks, but does it get better when you're an attending? I like the nature of work in medicine more, but am also a little afraid of what health care in America would like like in 25 years.
There's a thread somewhere on here about the fact there is a surplus of lawyers right now, and how the newly graduated can't find jobs with articles to back it up. Search around for it. Personally if those were my only choices I'd choose medicine over law. Personally, I'd choose something else all together.
Medicine. With so many baby boomers, and with national healthcare, the need for medical practioners of all kinds is super. Right now there is a desperate need for Physician Assistants.
Medicine. With so many baby boomers, and with national healthcare, the need for medical practioners of all kinds is super. Right now there is a desperate need for Physician Assistants.
See, that's what I fear about medicine (becoming a medical doctor). I don't want to have to go through 7-11 years of medical training only to be undercut and underbid by a physician assistant (PA) or nurse practitioner (NP) with a 2 year masters and who probably was rejected by every med school.
If you're young and got the brains (high MCAT), go to med school. Don't do PA school. Med school opens doors to a much wider range of opportunities. As an MD you can specialize in one of 20+ challenging fields and work as an academic or start your own practice or join a group. The fields are incredibly diverse and the opportunities for further advancement abound. If you hate seeing patients you can do radiology or path; if you love blood and guts and glory, you can of course do surgery; if you love puzzles and detective work you can do neurology or IM. When you're older and don't feel like doing clinic work everyday, you can also do health care consulting.
Most specialists make over $250k a year, specialist surgeons make over $400k. I don't know of any PA that make this much. I'd wager few lawyers make such salaries as well. The hours are generally 50-60 hours per week once you're out of residency, but like you said residency is a killer (80+ hours per week). Residency is what separates an MD from a PA doctor-wannabe.
An ambitious person would regret doing PA and not MD for the rest of their career, essentially pouring a concrete ceiling over yourself before you even begin. PA's are good for older students (over 30), those with children already, and those who are simply a league below the med students academically.
"A group of student volunteers from the University of New Mexico's Physician Assistant program held a free diabetes screening clinic at the Indian Pueblo Cultural Center that week, but they did the tests incorrectly, using the same needle on multiple people and potentially exposing them to diseases spread by blood contact, according to Dr. Bob Bailey, associate dean of the university’s Health Science Center and incident commander.
“'We estimate that 51 to 55 individuals were tested, potentially exposing these people to others’ blood. The diseases of greatest concern are Hepatitis B and C although theoretically HIV is also possible. Our best current assessment of the risk of infection is less than a 0.5 percent risk. Even though the risk is small it is something we are very concerned about and are taking it seriously,' Bailey said."
There are plenty of law vs medicine threads...and a lot of "I wouldn't do med school again" threads.
Make an educated decision before you choose med school. I know A LOT of med students and physicians who hate their lives. Hence, my ex-med status.
I had a taste of healthcare/dealing with patients and I wanted to shoot my eye out. Lol. But, to each their own. The MD salary would have been nice though!
Most specialists make over $250k a year, specialist surgeons make over $400k. I don't know of any PA that make this much. I'd wager few lawyers make such salaries as well.
You would be surprised. It all depends on the size of the law firm and your seniority...
For example, first year "Big-Law" associates start @ $160,000. (They may have lowered that a little because of the economy..i heard rumors it was being lowerd to $145k-ish or something) Before any kind of bonuses. A few years out of school and you're easily into the 200s...
Then when you add bonuses..you're looking at a minimum of $30-50k, many times closer to $100-150k...depending on what year you are.
Again, this is based on "Big-Law' salary + bonus..
Smaller firms in smaller markets obviously see less.
There are plenty of law vs medicine threads...and a lot of "I wouldn't do med school again" threads.
Make an educated decision before you choose med school. I know A LOT of med students and physicians who hate their lives. Hence, my ex-med status.
I had a taste of healthcare/dealing with patients and I wanted to shoot my eye out. Lol. But, to each their own. The MD salary would have been nice though!
It's my feeling that people who end up hating medicine were the ones who went into medicine because their parents pressured them into it. These people similarly have never worked a real job between college and medical school and are generally envious of friends who are buying new cars and going out on weekends to expensive bars while they are in the library cramming for the boards or on call at 4am in the morning.
You would be surprised. It all depends on the size of the law firm and your seniority...
For example, first year "Big-Law" associates start @ $160,000. (They may have lowered that a little because of the economy..i heard rumors it was being lowerd to $145k-ish or something) Before any kind of bonuses. A few years out of school and you're easily into the 200s...
Then when you add bonuses..you're looking at a minimum of $30-50k, many times closer to $100-150k...depending on what year you are.
Again, this is based on "Big-Law' salary + bonus..
Smaller firms in smaller markets obviously see less.
Over 50% of biglaw associates quit or are dismissed after 2-3 years. None of my college buddies who went to biglaw after graduating law school are still working in their biglaw firm. Two of them moved on to much less lucrative positions (but better quality of life), an in-house gig and the SEC. Also the salaries you're referring generally applies only to firms in NYC, which has high living costs. It's not that impressive when public employees in NYC make close to 6 figures. Firms outside NYC generally start around $120k, with a few exceptions of course. It's a great salary no doubt, but you're making it sound like lawyers easily make $250k+. Landing a biglaw spot is no guarantee in the first place, not even close. And once in the firm, attrition is still veryhigh.
Those bonuses of "$100-150k" you're talking about are hardly "many times" and would require serious ass hauling that very very few are capable or willing. Vast majority of bonuses are around $30-50k during a good year (even at places like Cravath), and nothing in a bad year like 2008-2009.
I stand by my statement that few lawyers make as much as MD specialists (the majority of MD grads now).
Last edited by Guineas; 05-21-2010 at 11:58 PM..
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