Are Doctors Rich? $$$ ENGINEER vs DOCTOR

It's not uncommon to be considering becoming a doctor versus an engineer. Both are solid options, but which one is a better fit for you? Doctors usually make a lot more money, so let's do a financial analysis comparing the two. You may be surprised by what we find.

TIME STAMPS:
00:24 - Why is “Doctor” so Prestigious?
01:44 - Doctor vs Engineer Assumptions for Analysis
04:06 - Doctor vs Engineer Results
05:25 -Should I Go Into Medicine for the Money?

LINKS FROM VIDEO:

#medicalschool #studystrategies #premed
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Disclaimer: Content of this video is my opinion and does not constitute medical advice. The content and associated links provide general information for general educational purposes only. Use of this information is strictly at your own risk. Kevin Jubbal, M.D. and Med School Insiders LLC will not assume any liability for direct or indirect losses or damages that may result from the use of information contained in this video including but not limited to economic loss, injury, illness or death. May include affiliate links to Amazon. As an Amazon Associate, I may earn a commission on qualifying purchases made through them (at no extra cost to you).

[MedSchoolInsiders]

MOST COMMON COMPLAINT = Engineer starting salary. SEE BELOW


Biggest point of contention are the starting salaries! Feel free to play around with the spreadsheet yourself. Here are the reasons for the starting salaries we used:


Don't like these assumptions? Fantastic. Play around with the numbers. You'll find something similar. Main point = going into medicine for the money is NOT a good idea. Thanks for watching =)

[oatmeal]

When you’re Asian there’s only 4 job options; Doctor, Lawyer, engineer or disgrace choose ur options wisely

[eliskavavreckova]

My mom never believed I could make it into medical school. Here I am, entering the fourth year and getting a scholarship for good grades. Take that, mom! *sob*

[prayvoltysozialclanmembers]

Money cant be your first motivation when you study all night in med school

[RookieN]

I think one of the most overlooked thing about being an engineer is that they don't often stay as technical experts throughout their career. Down the line, they have the option to take management role such as project manager, operation manager, safety manager, risk manager, technical manager etc. where they will eventually be promoted to executive roles which are some of the most lucrative career out there. That is something which most outsiders don't realize about being engineers. People severely underestimate the versatility thus the earning potential of an engineering career.

[juju]

Please do the SoundCloud Rapper vs Physician comparison. Those are the career options I am weighing.

[splashyk]

I’m in high school and this is overwhelming I feel like it’s going to take over my life

[arescue]

The engineer’s lifestyle is better. Typically, their shift isn’t as long and they aren’t exposed to a sick population everyday as an integral part of their job. I applaud medical personnel for their courage, they can make all the difference. That said, engineers make a big difference too. Everyone wants bridges that don’t fall down.

[johnlaraway]

I’ve been a physician for almost 30 years. To try to improve my quality of life since long hours and sleep deprivation was killing me, I left my original practice but now I’m making 1/2-2/3 of my previous income. My petroleum engineer son-in-law is making more than me 5 years out of school. Obviously every situation is different but his lifetime earnings will likely far exceed mine and he works normal hours. He also appears to be on an administration track that could someday put him in the million/year club in another decade. I can only make more by working more whereas he can make more by being promoted.

[toddaustin]

Great video!
I'm a D.C. myself. I graduated in 1993, opened a private practice in 1996 and paid off my student loans in 1999.

Our clinic (my L.M.T. wife and I) has had zero debt going back to 2000 when we paid off our business loans. And this year we paid off the mortgage on the building where our clinic is located as well.

I only threw away 5 years to Opportunity Cost. Yay me!

[Cookedfam]

Alight who the hell gets paid starting as an engineer.

[alvinstjohn]

"In certain cultures..." It's okay man, you can say Asians. Also, big fan. I'm in first year engineering myself.

[peterpollak]

I chose engineering for several reasons: 1) History, freshman English, French, math and science appeared to just be a continuation of high school. I couldn’t see any value added. I was good in math and sciences, saw that not everyone could do them, so I reasoned that they must be valuable and would pay well. 2) I was not motivated to study for studying’s sake: how was I going to ever use French, or history, I already spoke and wrote English? Why spend all the time and money studying with no apparent value. I saw many students major in history to develop great GPAs to use to get into law, medical school, but it just didn’t make sense to me at the time. In retrospect I was very short sighted, particularly regarding writing skills. I graduated and got a good job, but was shocked to find little use for most of what I had learned in engineering school. I had never been taught what was used in practice. I stayed on my first job for a year, my second for 7 years and my third for 35 years. Along the way, I did get a MS in engineering by going to school at night and got PE licenses in several states. Relative to a medical career my first job was like an internship, my second was like a residency and my third was like an attending physician. I earned a decent living, got married, bought a house, had children and am now comfortably retired, enjoying grandchildren. I did not become rich, I did not always enjoy work, but consider myself lucky to find an interesting and challenging career. People don’t realize the diversity of engineering disciplines: electrical, mechanical, chemical, aeronautical, welding, nuclear, etc; and segments and opportunities within the disciplines: research, development, design, sales, manufacturing, quality control, etc. I worked with them all. The most important things are health, family and liking the people with whom You work. No amount of money is as important as any of these!

[atrocitus]

Mom: my son will be a Doctor
Dad : He will be an engineer
Granpa: he will be a lawyer
Me : who is planning to become a pro gamer 😑💔

[gustavoluizon]

I am a med student. My parents didn't pressure me at all. But they get very happy about my decision haha.

[shubham.machhi]

6 figure starting salary for engineers is a bit rich for a national average

[rsp]

Can u do a financial comparison on doctor vs phar vs dental, etc

[OliviaEbere]

Me, a med school student: explaining to my bf that he’ll make more money than me until I’m 40.
My boyfriend, an engineer: 🧐

[skechfreak]

The starting salary is usually 80k on the average for engineers.

[ttvkrispyaf]

neither of my parents never told me to be a doctor, but I want to be a leader, life-saver, and I think my purpose on this planet is to use my brain and body to make others feel as good as they can.