cmiles8
3 hours ago
The challenge in the US is that the best and brightest increasingly have no interest in entering the medical profession. The debt, crazy years of minimum income, all to let an insurance company admin dictate your every move and while more and more physicians become a labor pool for PE healthcare tracked with metrics fit for warehouse workers (edit: and that’s not OK in a warehouse either). All to earn a decent income but no longer the top of the market. A decent mid-level developer or tech executive makes more than nearly all physicians. No sane top performing talent would dive head first into that mess.
There are exceptions of course but when my brother was considering medical school he visited about 10 different top physicians to seek input and advice and nearly all said if given a Time Machine they wouldn’t do it all over again. That was a real wake up call.
If you go into medicine as a business entrepreneur and build a successful medical business then there’s opportunities for one to still taste some of the glory of the medical profession that once was. Outside that it’s basically a reasonably well paid life of indentured servitude. Yes you’re “helping people” but that only carries you so far which is why so many just burn out and leave.
Massive reform is needed but the powers that be between the AMA and insurance companies seem unlikely to let that change happen unless it’s forced on them by Congress, and that too seems unlikely for now. Something more alike to an apprenticeship model where one grows up from EMT, to nurse, to physician fits the current business model much better than trying to preserve the old world “Officer vs enlisted” model where folks enter the profession directly as officers (physicians).
bryanlarsen
2 hours ago
If this was true competition for med school spots would be a lot lower. On the contrary it's getting harder: you now basically need a 4.0 to get in.
Some of the best and brightest definitely are getting discouraged, I too have similar personal anecdotes from my daughter's peers. But anecdote does not necessarily correspond to data. Competition for spots is the data.
> burn out and leave.
Here the data definitely supports your argument. Doctors are leaving the industry at far younger ages than they did in the past.
ipaddr
3 hours ago
"decent mid-level developer or tech executive makes more than nearly all physicians"
That's no where near true for a mid level developer or most tech execs or most senior developers. If you exclude faangs a top developer doesn't make as much as a doctor.
cmiles8
3 hours ago
You need to consider the economic cost of delayed earnings, which is massive for the physician, and the higher pay later typically doesn’t make up for the massive debt and low pay early on. It’s not just about a point in time salary sizing contest. Earning little to nothing early in one’s career creates a massive net worth void to fill.
bitexploder
3 hours ago
Physician lifetime earnings counting for delay, and debt… normal investment, etc: 8.5-10m. Software engineer median is much lower. About 6.5m. Specialist and high end varies greatly. Median doctor is earning 2x a SWE (130k vs 250k).
People on HN vastly overestimate SWE pay as an industry, biased by FAANG as we are :).
bryanlarsen
2 hours ago
Lifetime earnings of 6.5M is more than lifetime earnings of 8.5M if the 6.5M is front-end loaded and the 8.5M is back-end loaded and starts with a 0.5M hole.
It's the difference between compound interest working for you vs compound interest working against you.
bitexploder
2 hours ago
I accounted for that when I modeled it. I explicitly added investment start and compounding. A thing to remember: a physician is delayed yes but their higher income lets them much more heavily invest as their income often exceeds life expenses by a lot more than median swe.
sebmellen
2 hours ago
The median physician definitely earns more than $250K as well.
Aurornis
2 hours ago
> and the higher pay later typically doesn’t make up for the massive debt and low pay early on.
It does, actually.
Physicians have high early career earnings. It’s not like grinding your way up the ladder until you get paid a lot.
Developers only make more if you only look at the very top end. Like a Stanford grad who goes straight to FAANG earning $200K the day after they graduate.
boelboel
44 minutes ago
If you need to start accounting for those things you might consider adjusting for the risk of getting laid off as a tech worker .... I'd imagine it's far higher than for a medical professional.
Kokouane
2 hours ago
I think the problem is that physicians are self-selected to be highly intelligent and driven individuals. Med school is not at all a walk in the park, and is very competitive.
You cannot compare the median physician who endured the years of grueling med school and residency to an average developer. FAANG is probably a more apt comparison.
the__alchemist
an hour ago
Yea; not even close in the USA. There are exceptions like SV high-salaried tech jobs compared to pediatrician, but generally MDs make much more than software engineers and similar.
Aurornis
2 hours ago
I agree, but it’s amazing how many times I’ve heard variations of this repeated as truth.
Developer compensation talk always gets biased toward top companies and high cost areas. The median developer or even top 10% developer isn’t living in the Bay Area working at FAANG, but that’s what gets talked about.
leereeves
41 minutes ago
> Developer compensation talk always gets biased toward top companies and high cost areas. The median developer or even top 10% developer isn’t living in the Bay Area working at FAANG, but that’s what gets talked about.
That's what should be talked about in comparison to doctors. A FAANG position is comparable to the level of effort, competition, and accomplishment involved in becoming a doctor.
On the other hand, the "median healthcare professional" (counting only those requiring a college education) is a registered nurse, and that's the healthcare profession most comparable to the median developer in education, competition, and income.
SR2Z
2 hours ago
It is unfortunately true. Sr/Staff making a tech salary outearns all but the most specialized doctors. Even if you exclude FAANG that's true (other companies have to offer FAANG salaries to get FAANG talent).
You have to be living in a VHCOL to get that, but if you make >$300k TC you are outearning most doctors.
the__alchemist
an hour ago
Very few software engineers make more than $300k a year. That's top ~1%.
yilomap
an hour ago
> You have to be living in a VHCOL to get that, but if you make >$300k TC you are outearning most doctors.
Damn really? Years ago I saw a post of someone asking for advice. They had been offered two positions on in SF at ~$500,000 another in Minnesota at $300,000. Granted they were an anesthesiologist, but a few years back I met a doctor in a bar (lol) and they were telling me you can clear half a million as a GP if you're willing to work in rural states with a big shortage.
boringg
3 hours ago
"nearly all said if given a Time Machine they wouldn’t do it all over again. That was a real wake up call."
And do they have experience working any other job as a comparables? The question you ask is the equivalent of saying do you think there are better jobs out there? Being a doctor is about the lowest risk job you can get if you are smart and capable. You get high status in society, excellent paycheck and on net are helping people.
jimmydddd
2 hours ago
Also, people are not aware of their skill sets. A lot of doctors I know think, just because they were "smart" in school, that if they had gone into, for example, tech or finance, they would have become a CEO. But you can tell they don't have the skill set for business. I mean, they can't even run a medical office with 8 employees well, and they think they could run a business with 100K people. The office is a mess, the records are sloppy, the appointments are 2 hrs. behind, they don't pay the staff well, the receptionist is rude, the photocopied forms are barely readable. Yet they think they would be inovating like Jeff Bezos.
nradov
3 hours ago
The unemployment rate for licensed physicians is ~0.
sebmellen
3 hours ago
Something like 17 out of the best 20 jobs by median pay in the U.S. are physicians, just various subspecialties. I guarantee you that people in medicine are incredibly driven and bright. You're just not exposed to them and the training they go through.
zinodaur
3 hours ago
> metrics fit for warehouse workers
Maybe no one should be tortured by those metrics
cmiles8
3 hours ago
Yes, poorly worded on my part. Wasn’t intending to suggest it was ok to do that to a warehouse workers either, just that this is how physicians are being treated today (but neither is OK).
recursivedoubts
3 hours ago
Thank you.
nradov
3 hours ago
I'm not here to defend the AMA but they have very little power over the lives of working physicians. While they do define the CPT code system used on most insurance claims they don't control which procedures are authorized or how much anyone gets paid. The real abrasion has come from health system administrators imposing additional rules and paperwork that waste physician time without doing anything to improve care quality.
the__alchemist
an hour ago
What I think your underlying point is: it's no longer seen as the most straightforward pipeline path to high salary, career stability, social status, and dating prospects. I'm not convinced it's true (or not true) that this is fading, but I think that's the core of the matter you bring up. I also suspect that this varies significantly from country to country. I.e. it's central to US and Canadian MDs, but less so in other places.
matheusmoreira
2 hours ago
It's even worse than that.
I used to enjoy this blog:
https://web.archive.org/web/20101218031844/http://www.medsch...
This dude hated US medical school and it shows. I can't blame him, either.
> the powers that be between the AMA
AMA is working to keep salaries high. That's the only reason why this profession is still attractive. Probably unwise to change that.
nradov
2 hours ago
AMA lobbying hasn't been very effective. The rates that Medicare pays physicians have declined in inflation-adjusted terms.
yilomap
an hour ago
> The debt, crazy years of minimum income, all to let an insurance company admin dictate your every move and while more and more physicians become a labor pool for PE healthcare tracked with metrics fit for warehouse workers (edit: and that’s not OK in a warehouse either). All to earn a decent income but no longer the top of the market. A decent mid-level developer or tech executive makes more than nearly all physicians. No sane top performing talent would dive head first into that mess.
Ok but the writing is on the wall for that mid-level developer. He'll get laid off next week and replaced with an AI agent or dirt cheap offshore team.
The doctor seems like a safer choice now.
butterandguns
an hour ago
To what end though? Safer meaning you have line of sight on employment? What kind of life is it where you have work but no life? I ask these as the husband of an internist who has been practicing for over 10 years. It’s a fucking grind. We’re 40 now and both of us are looking at her job and asking is it really all worth it?
pjc50
3 hours ago
> A decent mid-level developer or tech executive makes more than nearly all physicians.
Yes, but: that's an even narrower elite group than doctors.
Aurornis
3 hours ago
> A decent mid-level developer or tech executive makes more than nearly all physicians.
I’ve had access to various compensation data products and I’ve done hiring at distributed companies across dozens of US states. This is not true unless you’re defining “decent mid-level” as working for FAANG. Conversations about developer comp always get skewed toward the top end for top 5-10% devs, with the median numbers being a lot lower.
> If you go into medicine as a business entrepreneur and build a successful medical business then there’s opportunities for one to still taste some of the glory of the medical profession that once was.
I don’t know what you mean by “glory of the medical profession” if your definition of achieving it is… not being a medical professional?
Are you just talking about the money and social prestige that comes from being wealthy? The medical professionals I know didn’t go into the career because they wanted to maximize salaries. The days of becoming a physician primarily to seek money and social status are dwindling because there are better ways to make a lot of money where you get to sit at a desk and write emails, and honestly that may not be a bad thing. Let those people go be lawyers and finance bros or mediocre product managers.
Schlagbohrer
2 hours ago
Yes anyone who thinks engineers (HW or SW) are all paid amazingly needs to start taking in the wages of contractors too when calculating averages. Even many engineers working at FAANG HQs are lowly paid, abused contractors, making $50k-$80k.
I know personally of one big famous tech firm that has QA devs making literal minimum wage, because they are contracted from an outsourced firm. But 100% of those people's work is directed by and exclusively for the big tech firm so like all contracting it is an obvious paperwork scam to just mistreat their workers.
thatfrenchguy
2 hours ago
I mean, this is not what the article is about though.
What the author of article is describing is just bureaucracy ever expanding (anyone who’s worked at the same place for a decade knows that bureaucracy rarely gets better), mostly decided by mediocre admin people who have never heard of Goodheart’s law. Bureaucrats loves KPIs, shitty average metrics (because distributions are hard to understand for bureaucrats for some reason), and generally does not have to field the consequences of their actions (notably because they don’t measure them!).