How Much Do First Year Medical Interns Make
The cost of medical school is a major factor in deciding whether or not to pursue a career as a doctor. But while it’s easy to look at the price tag, it’s less clear how much you’ll earn in your first year after graduation. The answer depends on whether or not you went to an out-of-state college and what specialty you choose to enter into as well as other factors. Here’s how much first year doctors make on average:
Pay for Medical Interns
You might be surprised to find out how much a medical intern makes. The average salary for first year medical interns is around $56,000 per year, which is actually quite decent considering their years of education and experience. Most doctors make more than nurses because they have gone to school for many years and have special skills that nurses do not have.
The Pay Gap Between Men and Women in Medicine
The pay gap between men and women in medicine is shrinking. In 1960, female physicians earned only 37 percent of what their male colleagues made. That ratio has increased steadily since then, and in 2017 it was at 88 percent. That’s still not parity, but it’s better than most other fields of work.
In general, the gender pay gap is smaller in medicine than it is in other industries because doctors tend to be able to negotiate higher salaries (and are less likely to leave their jobs).
Is the Cost of Medical School Worth It?
The cost of medical school is expensive. The average cost at the time of this writing (2019) is $31,000 per year and some schools have prices as high as $55,000 per year. However, despite the steep price tag for tuition and books, there are many reasons why it can still be worth it to go through four years of college just to become a doctor.
The first reason is that doctors make a lot of money compared to other professions in society. According to Payscale’s data from 2018 (the most recent available), a general practitioner earns an average salary of $184k per year while an ER physician earns around $200k annually on average throughout his or her professional life span. For comparison purposes: A software engineer makes around $120k; registered nurses make about $63k; waiters earn around $21k annually according to Glassdoor salaries; janitors make approximately $28k according to Indeed salaries; bartenders earn approximately $20-$25/hr after tips according to Indeed salaries…
Second, with unemployment rates being so low within the medical field—about 1% nationwide—there are more jobs available than ever before!
Are Doctors Paid Too Much?
There are a lot of opinions on the subject of whether or not doctors are paid too much. For example, some people say that doctors are underpaid because their salaries don’t reflect the difficult and important work they do for society. Other people say that doctors are overpaid because they have easy jobs with plenty of free time, which means they can earn even more money by working at night or on weekends if they choose to do so. Still others insist that doctors make a fair wage for their services and should not be expected to work longer hours than anyone else in order to support themselves financially.
But there is one thing most people agree upon: The increase in educational requirements for becoming a doctor has led to an increase in salaries as well—and this makes it harder for non-doctors (or “regular” people) who want more money but aren’t willing or able to spend years studying advanced degrees like medicine or law.
What’s your opinion? Do you think doctors earn too much money? Is there anything we could do about this issue if so?
Medicine is an expensive field to get into, but experts say it’s still worth it.
Medical school is an expensive field to get into, but experts say it’s still worth it. The average cost of a medical education ranges from $19,000 to $44,000 per year. That number can balloon if you attend one of the most expensive schools in the country, like NYU or Harvard University.
If you’re worried about taking out loans to pay for your degree and then working as a doctor just so you can pay them back, don’t be: According to Forbes’ recent report on physician salaries—which found that it takes at least 10 years before doctors start earning what they spent on their education as residents—the payoff is worth all those years of sacrifice and debt repayment.
So, what does all this mean for you? If you’re considering a career in medicine and want to know how much first-year medical interns make, the answer is a lot. There’s no question that the field of medicine is expensive, but some research suggests that those who go into it earn enough over the course of their careers to make up for tuition costs. Plus, there are plenty of ways to save money while getting an education in medicine—and even if you don’t come out ahead financially right away, there will always be other benefits like better health care access as well as job satisfaction from helping others get better too!