It is my understanding that doctors have a much lower net income mainly because of
1. Student loans
2a. Insurance rates if they open their own practice
2b. The cost of insurance if they join a medical group.
3. Many doctors who marry other doctors and do not have children also oftentimes must live in different cities in order to have a fairly decent position - which means maintaining 2 homes.
As far as the lawyer reference by BBG- there are definitely similarities. Research, advertising and promotional time for the escort is a tremendous part of the job.
I believe each person, regardless of their profession determines what is acceptable according to lifestyle, basic needs, and future goals.
Originally Posted by SweetElizabeth
You hit it on the nail!
When I did similar cost analysis in the 90's it was hardly worth it to go through with med school.
1. I don't have rich parents, so need school was going to have to be financed by me. Cheapest was downstate medical school in Brooklyn at $250,000 For the program. One I was actually accepted was over $500,000.
2. Residency was not capped at 80 hours per week, yet. Residents made about $50,000/year back then. Residency for what i wanted to do was 3 years.
3. Liability insurance, should i decide to work for my self would have been $125,000/year.
You really have to love what you do to make that kind of investment that may only pay off when you are in your 50's.