re: Is it worth the loans to become a doctor? Would it be wise to consider the military?

quote:

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Is it worth the loans to become a doctor?

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No.
It almost certainly is not.
Is that simple enough?

It may be "worth it" for folks who'd eventually benefit from your care

For you, it may be "worth it" if you choose to pursue a career in medicine with the same attitude you would in pursuing a career in the Peace Corps.

Otherwise, "no" it is probably not worth it.

The ONLY basis for pursuing a career in medicine in the current environment is the good you'll do for others. That's it. Period.

There is no reasonable financial argument for the choice.
There is only the good of your potential contributions to others' well-being, albeit at great personal sacrifice.

Do NOT make the choice for money.
If making money is anywhere on your decision screen, choose another field.
If money is a goal, you'll almost inevitably regret the choice.

Money may come, but almost assuredly not to the extent it would if you set your goals on a Wall Street, Corporate, or Consulting position.

Here is the problem:
Medicine is going through a paradigm shift 2° to Obamacare.

Over the years, some of us have done extremely well in the field. Extremely well. But we did that against the odds. Inevitably we did it vis-a-vis smart business decisions rather than via isolated medical care, no matter how good.

Long story short after Obamacare, many many physicians, who in the past would have been self-employed and self-directed, will for the next decade or more be relegated to working for administrators with limited or nonexistent medical backgrounds. Meanwhile the same admins will make 5-50 fold more than the physicians they employ. No exaggeration.

Though I don't see such a bottom-up hierarchy as sustainable, it will remain lay-of-the-land in many specialties for the next decade or two.

If you will be okay working for folks who were academically well behind you in HS and college simply for the love of patient care and well-being, then medical school may be for you. If you will not be frustrated working for folks who were academically well behind you, yet are making shocking sums compared with your income, medical school is probably a reasonable option for you.

Just go into it for the right reasons. Do it for altruism. Do it because you can. Do it because if you don't, there will be a void others cannot fill. It's too long, too hard, and far too demanding a haul for you to find yourself looking back with regret if/when your income underperforms your financial potential.


ETA: HPSP/TheMilitaryOption is a decent option . . . especially if you choose a "high demand" surgical field. If not, you might get pulled into GMO (general practice) duty, deferring your residency until after you've completed your military time. I went the HPSP route FYI. Great choice for me. Completed Residency/Fellowship outside, then served my my 4 for 4.