This video goes beyond the headlines into what American doctors really earn spanning from entry-level PCP's to top specialists. Each minute reveals crucial insights that could impact your earning potential for decades preventing you from losing millions of dollars. Don't let others determine your worth, instead use real data to know what you deserve. If you found this one helpful, consider sharing it with your friends in medicine.
By the time you complete residency - you're getting married, buying a house, and having kids. Between the amount that goes in taxes, loan payments, mortgage, saving for kids education; there's not that much left. Besides, you're working a lot the first many years to establish yourself and become a good doctor. That doesn't give you much time to "enjoy" that money. You'll eat at better restaurants and stay in a nicer hotel while on vacations and maybe able to build a pool in the backyard........but that's about it. At the end of day, you should be in this field because you want to help people. The money is only 'icing on the cake' for your family to enjoy.
Manik please give a complete breakdown of salary vs expenses for various regions in USA. Include taxes, insurances, mortgage, cost of living and other expenses (flight tickets, kids expenses, car). Ultimately we want to know how much one can save there after living the lifestyle most people dream about.
Do you know what is the cost of becoming a doctor in the United States? Ten years back, my daughter took a loan of $250,000 for four years. After four years, she worked for six years at a salary of a junior account like 50,000 a year. She already spent 10 years without saving even a single Penny. While her friends who studied Finance, computers, etc. started making money from the fifth year for next six years. And saved a good amount of savings. While doctors have loan of $250,000 plus 8% interest for six years. It is shameful if people are comparing salary and not the cost of becoming a doctor.
I think the cost of becoming doctor is way too expensive in this country. I didn’t go to medical school but I went to law school spending 200k+ after undergrad just on tuition. My ethnic home country would cost 1/3-1/4 of this amount and it’s considered expensive. (And yes it’s a member of G7 and not some developing country.) I feel like that’s why my firm charges 700-800/hr when my counterparts in my home country charges 150-200usd and thus legal help is much more accessible there. Same with doctors, I costs about 100k for tuition and living cost for only 6 years of medical school (no undergrad). I think medical care in US is BS, I fly to my home country and pay out of pocket and it still only costs 1/4-1/10 of the cost in the US and is cheaper than work done in US with insurance. The whole entire medical system here is broke and messed up.
It’s so true. You are paying so much for student loan and plus the interest. Some only read the figures but they don’t understand it comes with a price tag. All that glitters is not gold. Face the reality. I totally agree with what you have written
I once was told something interesting about the medical profession. A more knowledgeable person said the costs involved in becoming a qualified physician is greater than just about all professions. And the time spent becoming a qualified doctor is longer. Generally speaking, most doctors are not able to practice their profession as long as other professions. Expenses like malpractice insurance are considerable. I prefer self employed doctors. Accountants don't tell them how to practice medicine.
Yeah they still do. Insurance companies (and their accountants) apply all manner of rules to restrict payment. If you don't follow them, you don't get paid. (you could still get sued for the case/study that you weren't paid a penny for however)
thank you so much for the video, I am just entering med school this year, prolly VMMC or LHMC and I've been on your channel since last 2 years, it motivated me a lot during my neet ug journey and I think you're videos and content is more than enough to motivate me to pursue my goal to become a doctor in the US....thanks again for the great content
Before people get too excited, I want to bring to your notice that almost half of this pay will go to taxes. For example, a Neuro Surgeon earning $700000 per year in the state of California pays the following taxes Salary $700,000 Federal Income Tax - $217,164 State Income Tax - $76,317 Social Security - $9,114 Medicare - $14,650 SDI (State Disability Insurance) - $1,602 Total tax - $318,846 Net pay * $381,154
A good Neurosurgeon in India will make 5 times that amount in india!!! Always calculate using PPP purchase power parity. NEVER $= Rs 84 ( that's for idiots) In PPP terms 1$= Rs22 So $ 381000=Rs 83 lakhs A good neurosurgery Dr with 10+ years experience will make 4 cr+ per year...and have a house with servants and driver!!!! Not possible in the US.
Very interesting, from just a regular retiree. It would be good for bright young people to watch this. Being a doctor is very difficult and hard but very worth it financially.
Taxes and malpractice insurance . Personal insurance other taxes expenses take away almost 40 -50 percent of the pay … so if they make 500 k they really seeing 250 k every year … rule of thumb …. And the pressure amount of work is no joke NO FREE LUNCHES IN AMERICA
Hey Manik! I’ve been following your journey for a while and always admired your positive energy. I noticed you seem a bit different in this video-residency must be challenging. Just wanted to remind you that your hard work and dedication are inspiring so many of us. Take care of yourself, and keep pushing forward! We’re all rooting for you.
Please make a video on UAE 🇦🇪 pathway after MBBS including everything like it's ways, salaries, which specialities are good there, work life balance etc everything
OMG...this isn't true. Ask any accountant that works for docs. This is before paying for office, staff, etc....This is not any take home type of salary. If you want to take home over 300K, do plastic surgery. Really. This is my world. !
No, that really is take home pay. Actually, a neuro surgeon working in CA will make closer to 1M. Nobody needs to even have an office or staff anymore.
Dude relax… I am a very very busy surgeon….for a 3-5 hour operation for 90 days of care I make about $1200-1400….you need to factor in the debt we incur c/w European surgeons etc …. I began my career at 38 years old after all my training was completed(which at the time I worked about 120 hrs per week for an average of 35-45,000 per year)…..do I make a good living… of course… an I rich compared to other highly trained professions??? No…. We have no pensions I have no ability to earn anymore money as I am too busy clinically…. I have many many European friends that make as much if not more when all is averaged out… there are still a few specialities where you can become rich… but the average?? Not so much… and it’s only getting worse
If you are in the US this is nonsense. A general surgeon is making 500k+ a year. Granted you may be working 50+ hours a week. If you can't bill enough to make that amount of money the hospital will subsidize you. If they don't, then no surgeon, no patients (customers to admin) and therefore no hospital.
Not many people know that physicians working in the US Pharma industry make way more than those in clinical practice. In addition, there is much better work-life balance, much higher take-home salaries (no need to carry malpractice insurance), opportunities for growth as one accumulates increasing experience leading to an annual salary over $ 1 million.
The biggest factor that is not mentioned here is lifetime earnings. Surgeons, and especially neurosurgeons, orthopedics surgeons don't stay active as they aged. Their productivity declines quite early in their lifespan, whereas, Internal medicine and primary care doctors can go on into their mid eighties practicing at full speed . Another factor is stress at work. Surgeons have more malpractice lawsuits filed against them and awards to patients are rising by leaps and bounds. Sometimes, these lawsuits are career ender.
Everybody wants to get into Medicine and become a doctor just by looking at these salary ranges but nearly all of them ignore the fact that most of the people who get into it have crazy amount of debts that haunts them from day and night. Even if you have done your MBBS from countries like India/Pakistan by the time you pass your USMLE and complete your residency your already 32+, while on the other hands people who have chosen CS, Finance have settled down, got married, bought house and a car. Not mentioning the fact that taxes take half of your money and your actually making half of the money shown. Despite all of that the work life balance of a Physician is crazy they be working 12 hours a day!! If you choose to go into Medicine make sure you take all these things into account before you make a decision.
What about stress, no sleep, and no time to live humane life like enjoying that money with family??? Is this money really worth?? At the end of the day are you happy???
I have no problem with doctors earning a lot. It is one of the most difficult jobs in the world. You literally have the lives of people in your hands. Not to mention that massive cost to become a doctor, both financially and the sacrifices you have to make. Look at how many people make even more money just by moving money around or in real estate.
There are a lot of jobs with a better ROI than doctor. Consider where I live, New Jersey. A very large number of police in this state earn over $200K per year. They have Cadillac health insurance plans and defined benefit pension plans. They can retire at 50% pay after 25 years or 67% pay if they work for 30 years. Their retirement plans offer survivor benefits. For those who claim police deserve such compensation because of the dangerous nature of the work, the US Department of Labor list of top ten most dangerous jobs does not include police officer. Pretty good job considering that it only requires a high school diploma or GED.
Maximum employee contribution is $26,000 and total each year becomes $52,000 Max of total of employee plus employer is $67,000 50 & older max employee contribution is $30,500 and the total each year becomes $61,000 Max of total employee & employer is $73,500
MBA is just that much more schooling. Overkill for negotiations. If you want to go into administration and join the dark side you could forgo a residency and get an MBA.
There is no fair contract in most US cities. If you don't take their ongoing rate, they will refuse to sign the contract and you don't get to see those patients. Imagine not being able to take United healthcare patients, one of the biggest insurance agent in the US?
@@acepilot2474 As a radiologist you just make a contract with the hospital, either directly as an employee or better yet with a stipend to supplement what the insurance companies pay. They don't like it? They can just hire a different radiologist. Oh, wait, there are no other radiologists on the market. They are unlikely to get any at all with 3 jobs openings for every rad on the market. I understand the same is true for other specialties to various degrees.
Congratulations for your completion of USMLE exams. Now you are eligible to practice , do they pay salary and work hours details what speciality you are now? Make video please .
When a surgeon performs a procedure on a patient, the surgeon is the least paid person in the room. The hospital makes almost 5x his rate, the anesthesia gets paid double his rate, and lowly surgeon gets the least paid. Imagine that! The outcome of the procedure depends solely on the surgeons hands and he gets paid the least!
As the racial pay gap the gender pay gap too can be largely explained on choice specialty per gender. Most surgical specialisties are made of males ( by choice) , which will obviously largely skew the earnings towards males. Within the same specialties your pay also depends on the amount of hours you work per week as well as if you have a private practice which skew towards men ( I'm in no way stating an opinion, just facts)
There is no gender or racial pay gap as such. Pay is determined by RVU production nothing else. The more productive you are, the more money you bring in. If you are an employee, better learn how to negotiate. Its on you if you can't negotiate. If you are a woman and a minority who chooses a low pay specialty such as pediatrics thats on you too. You could make an alternate argument that pediatricians aren't paid enough but thats completely different than whining about gender or race.
@@abdibarri9012 Not justifying anything. Its just the way it is. If you are a woman and/or racial minority group just go into a specialty field and work hard. A lot of woman and minority physicians do just that. The biller doesn't know or care what your demographic is.
@@Ozymandias-r2v YOU BIAS THERE TON HARD BLACK YOU RACIST THERE WHITE LAZY ALL YOU NOT SMART I LIVE HERE PORTLAND MOST HOME DRUG USER IS WHITE OREGAN THERE TON SOUTH STATE WHITE METH USER
.Could you please create a comprehensive video about US visa-related issues, covering the following points: 1. Hardships faced by Indian students in obtaining US citizenship. 2. Proposed plan for obtaining a US green card. 3. Strategies for navigating the 2-year home country residency requirement if u r currently working on J1 visa. 4. Anticipated timeline for obtaining a US green card (20-100 years) Additionally, could you please share: 1. Your current visa status 2. Whether you have obtained an H1B visa or are currently working on a J1 visa.
Average life expectancy in Cuba is 73. It is 76 in the US. That said, you could have made a better argument comparing the US to some blue zone place like Japan. Mostly it comes down to diet. Too many refined carbs in the US leading to obesity epidemic. The Cubans aren't fat but they still die before US citizens.
@@walentystankiewicz8486 Part of the life expectations problem is fytenal. Cuban doesn't have a drug problem. When you factor in all the 18-28 year Olds that die from drugs it screws up the numbers.
Average yearly malpractice insurance for PCP is $7500 to 15,000? And for specialists between $30,000 to $60,000 Additionally, state regulations, claims history, and the coverage limits of the policy also impact the cost of malpractice insurance.
Hi, I work in Billing section of US Healthcare where actually things happen. We mostly try to correct the billing so that we can reduce the denial and provider get his compensation. Let me know if any help needed in billing
My brother-in-law is a doctor, he’s making over $400k a year. His wife is a Nurse Practitioner making $160k a year. They invest in real estate and are doing very well. So yes the cost of going to medical school is high but worth it.
Im in the music business and have been making 500k - 1m most of my career . Being a Dr. is respectable profession but not as lucrative as it used to be.
Your salary numbers can be misleading and make people misunderstand bc these salaries are gross income. Doctors have to pay at least 33% tax, several thousands tuition loans a month, a lot for liability insurances ….
Little bit confused with Physicians and Surgeons journey through USMLE. Can you please clarify this difference if possible. "What is the pathway for being a surgeon of any speciality in US " ?
If you are going into medicine depending on the money you can make…..please do not go into the medical field. You will never be a good physician. It’s pathetic that this is even a topic of discussion. Go into the medical profession only if you feel compelled to help those who are suffering. It should be a calling not a job.
You need to grow up. The world runs on money. Not everything is rainbows and unicorns. Wanting to help people is fine and maybe that will point you toward medicine rather than banking. You still need to learn how to manage money and to negotiate. You have to be a competent financial steward for yourself and your family. No one else is going to do it just because you are "helping people". People want perfect medicine all the time when they want it and they want it for free. If you mess up or they are otherwise unhappy they will sue you.
There is nothing fair about salaries of doctors. The precise definition is usury, creating conditions at gun point where the supplier, in this case the doctors, have bargaining power over customers, in this case patients. These days, this is always without exception done through government. This is simply because the government has guns. The mechanism is licensing and in case of doctors amazingly the doctors determine the number of licenses issued. This way supply is kept artificially low. All this enforced at gun point by government. As a result you get an unusually expensive service at a very poor standard by doctors. Almost certainly in this way doctors cause more deaths than savings of lives. To top it off would be doctors need to go on and on about why they just want to serve humanity on their applications where every single doctor reading this knows that his or her prime motivation is to have a good job for high pay. Of course the general public and almost all professionals are too lost and ignorant to know the difference
When you retire, no matter who you are, you need to have three types of income: 1 social security, 2 pension, 3 investment income. Think about the quality of life when you are working. There is more to life than work. You could end up being the richest man in the cemetery.
You don't need a pension. Most companies don't even offer it anymore. Also, don't assume that social security will be around anymore. Focus on investments only. If you do it right, then the social security is just a rounding error on your income.
Hey manik, I have a very imp question as a first year med student in india. When do you do usce, in med school or before internship or after internship? And how do we adjust it? Please answer sir🙏🏻🙏🏻
The best professions to be in financially are those which are based on the client's fear of death. If you cut away all the crap this is the ground-floor reason for the existence of the medical profession. Lawyers salaries are in a similar position. although there may not be the threat of death, because often the threat is a ruined life perhaps financially or because of the threat of incarceration. Have you ever wondered why preventative medicine is a microscopic part of medical service? The drug companies have no interest in preventative medicine because that works against their profits. Think about it.
Hi manik! Dermatology is not even in your list. Can yu kindly share stats about the salaries of dermatologists, its scope, pros and cons of choosing this speciality? TiA
Hey Dr Madan, you are a great inspiration and I have been following you for a long time. I would love to get in contact with you regarding an upcoming event!
@@tassinmalik9760 It depends on where you work and how many interventional procedures you do. Also your negotiating skills. As a partner you should be able to push up to 800K in CA if you work very hard.
@@manikmadaanthanks a lot for your response, but I am asking one thing more that my cousin has gone for nursing in Australia while I am going for doing my MBBS in China, and my cousin is continuously degrading me that your decision is not right in sense of earning and future goals about MBBS, and he is always frustrating me, so thats why tell me the salaries of nurses and doctors, but I am seeing my interest in MBBS, not for money
Sir I am facing the problem, as my college is listed world dictionary of medical sciences but it's not showing on ecfmg registration as ecfmg site is updated last in 2022 September can please help me to resolve the problem
Sir one more thing actually sir when I am applying of ECFMG Epic registration my medical school showing their but not at ECFMG USMLE site sir please help me to resolve this problem
Hello doc, can u plz make a video on how to get selected for Research electives or Clinical electives in 2nd or 3rd year of med school? And plz explain what is it in detail? ... Along with expenses? Am from india
Hi Manik! I followed your advice and got 269 on Step 2 as an Indian IMG while in final year itself... Thanks a lot Manik.....if I could connect with you on my channel....please reply to this comment❤
Once US opens the gate to having more students enter med school these salaries will plummet. How long can US stick to it's limited intake to med school while the population is growing exponentially and wait times for specialist appointments are usually very very long.
PAs and NPs are being hired to replace the GPs and AI is supposed to help increase the productivity of everyone so limiting the number of applicants reduces competition. That said you do make a point. However, the problem is not solved just by opening more positions. There are only so many people in the world who are talented enough to become competent doctors. Properly screened you could import such individuals from places like India but then what happens to the healthcare in India with such a brain drain? Ultimately the end result will be a two tiered (or worse) health care system unless AI advanced dramatically.
Hello sir I want ask as I am old graduate 2008 I have done my m.b.b.s now I want to move from pakistan which exam is best for me please sir guide either amc or mccqe or usmile?
401K is tax deferred. You can withdraw 401k when you reach 59.5 any pay taxes based on yoir tax brackets. One can convert into Roth by paying applicable taxes.
Hi sir......I want to know that after having mbbs from india and applying for usmle step 1 2 and 3 , after that......Can an indian doctor who has cleared these steps may choose ? Their residency in USA preferered states there.....like 1st one chicago then Pennsylvania etc.......or we can't have that right to choose like this !! And any one random state can be alloted ? Please sir I have bit confusion regarding this.....Clear my Doubt !! Please sir
This video goes beyond the headlines into what American doctors really earn spanning from entry-level PCP's to top specialists. Each minute reveals crucial insights that could impact your earning potential for decades preventing you from losing millions of dollars. Don't let others determine your worth, instead use real data to know what you deserve. If you found this one helpful, consider sharing it with your friends in medicine.
What about the tax ?
how did you fund your 20k ?
Did you have your own job or was it from your family ?
thank you
His a physician not a relocation and tax advisor!!
can you please make a complete guide video on neurosurgery in USA. please .🙏🙏🙏🙏🙏🙏🙏
Those same taxes apply to other high income earners in the US as well. It is not unique to medicine.
I JUST PASSED MY USMLE EXAMS STEP 2 TODAY , VERY BIG CONGRATS TO ME ,🎉🎉
Congratulations 🎉
Can't you please share your experience with me
I just wanted to start the journey of being a doctor here in US. And I will be going for my exams soon .
Congratulations ❤
I will be taking my step 1 exam next week , I really need help
@@Danny-hapx have you reached out to MrBen for help?
By the time you complete residency - you're getting married, buying a house, and having kids. Between the amount that goes in taxes, loan payments, mortgage, saving for kids education; there's not that much left. Besides, you're working a lot the first many years to establish yourself and become a good doctor. That doesn't give you much time to "enjoy" that money. You'll eat at better restaurants and stay in a nicer hotel while on vacations and maybe able to build a pool in the backyard........but that's about it. At the end of day, you should be in this field because you want to help people. The money is only 'icing on the cake' for your family to enjoy.
Manik please give a complete breakdown of salary vs expenses for various regions in USA. Include taxes, insurances, mortgage, cost of living and other expenses (flight tickets, kids expenses, car).
Ultimately we want to know how much one can save there after living the lifestyle most people dream about.
Do you know what is the cost of becoming a doctor in the United States? Ten years back, my daughter took a loan of $250,000 for four years. After four years, she worked for six years at a salary of a junior account like 50,000 a year. She already spent 10 years without saving even a single Penny. While her friends who studied Finance, computers, etc. started making money from the fifth year for next six years. And saved a good amount of savings. While doctors have loan of $250,000 plus 8% interest for six years. It is shameful if people are comparing salary and not the cost of becoming a doctor.
I think the cost of becoming doctor is way too expensive in this country. I didn’t go to medical school but I went to law school spending 200k+ after undergrad just on tuition.
My ethnic home country would cost 1/3-1/4 of this amount and it’s considered expensive. (And yes it’s a member of G7 and not some developing country.)
I feel like that’s why my firm charges 700-800/hr when my counterparts in my home country charges 150-200usd and thus legal help is much more accessible there. Same with doctors, I costs about 100k for tuition and living cost for only 6 years of medical school (no undergrad). I think medical care in US is BS, I fly to my home country and pay out of pocket and it still only costs 1/4-1/10 of the cost in the US and is cheaper than work done in US with insurance. The whole entire medical system here is broke and messed up.
She could get an HPSP scholarship with the military and not have any loans. She would also have access to reserved residency slots.
It’s so true. You are paying so much for student loan and plus the interest.
Some only read the figures but they don’t understand it comes with a price tag.
All that glitters is not gold. Face the reality. I totally agree with what you have written
Education in U S as to
Became a dr is very costly 😮
I once was told something interesting about the medical profession. A more knowledgeable person said the costs involved in becoming a qualified physician is greater than just about all professions. And the time spent becoming a qualified doctor is longer.
Generally speaking, most doctors are not able to practice their profession as long as other professions. Expenses like malpractice insurance are considerable. I prefer self employed doctors. Accountants don't tell them how to practice medicine.
Yeah they still do. Insurance companies (and their accountants) apply all manner of rules to restrict payment. If you don't follow them, you don't get paid. (you could still get sued for the case/study that you weren't paid a penny for however)
thank you so much for the video, I am just entering med school this year, prolly VMMC or LHMC and I've been on your channel since last 2 years, it motivated me a lot during my neet ug journey and I think you're videos and content is more than enough to motivate me to pursue my goal to become a doctor in the US....thanks again for the great content
Before people get too excited, I want to bring to your notice that almost half of this pay will go to taxes. For example, a Neuro Surgeon earning $700000 per year in the state of California pays the following taxes
Salary
$700,000
Federal Income Tax
- $217,164
State Income Tax
- $76,317
Social Security
- $9,114
Medicare
- $14,650
SDI (State Disability Insurance)
- $1,602
Total tax
- $318,846
Net pay
* $381,154
Majority doctors I know are still rich
A good Neurosurgeon in India will make 5 times that amount in india!!!
Always calculate using PPP purchase power parity.
NEVER $= Rs 84 ( that's for idiots)
In PPP terms 1$= Rs22
So $ 381000=Rs 83 lakhs
A good neurosurgery Dr with 10+ years experience will make 4 cr+ per year...and have a house with servants and driver!!!!
Not possible in the US.
..and then add the crazy high cost of living there..
How abt oncology specialists
PPP matters, 1 crore in US has same status as 25 lakhs in India
Very interesting, from just a regular retiree. It would be good for bright young people to watch this. Being a doctor is very difficult and hard but very worth it financially.
Taxes and malpractice insurance . Personal insurance other taxes expenses take away almost 40 -50 percent of the pay … so if they make 500 k they really seeing 250 k every year … rule of thumb …. And the pressure amount of work is no joke
NO FREE LUNCHES IN AMERICA
I really appreciate you sharing this video, Manik. Could you please make a detailed video about J1 waver?
thank you👍👍
Yes we need that
U put that racist men's profile picture and u r getting information from indian😂. U also know why Indians r special for haters also.
Hey Manik! I’ve been following your journey for a while and always admired your positive energy. I noticed you seem a bit different in this video-residency must be challenging. Just wanted to remind you that your hard work and dedication are inspiring so many of us. Take care of yourself, and keep pushing forward! We’re all rooting for you.
This version of Manik is what we want.
Please make a video on UAE 🇦🇪 pathway after MBBS including everything like it's ways, salaries, which specialities are good there, work life balance etc everything
Yes please
OMG...this isn't true. Ask any accountant that works for docs. This is before paying for office, staff, etc....This is not any take home type of salary. If you want to take home over 300K, do plastic surgery. Really. This is my world.
!
No, that really is take home pay. Actually, a neuro surgeon working in CA will make closer to 1M. Nobody needs to even have an office or staff anymore.
Dude relax… I am a very very busy surgeon….for a 3-5 hour operation for 90 days of care I make about $1200-1400….you need to factor in the debt we incur c/w European surgeons etc …. I began my career at 38 years old after all my training was completed(which at the time I worked about 120 hrs per week for an average of 35-45,000 per year)…..do I make a good living… of course… an I rich compared to other highly trained professions??? No…. We have no pensions I have no ability to earn anymore money as I am too busy clinically…. I have many many European friends that make as much if not more when all is averaged out… there are still a few specialities where you can become rich… but the average?? Not so much… and it’s only getting worse
If you are in the US this is nonsense. A general surgeon is making 500k+ a year. Granted you may be working 50+ hours a week. If you can't bill enough to make that amount of money the hospital will subsidize you. If they don't, then no surgeon, no patients (customers to admin) and therefore no hospital.
@@Ozymandias-r2v …. Um….. NO…..
@@brianog5267 Um, yes. I work with those guys every day.
Where?@@brianog5267
Not many people know that physicians working in the US Pharma industry make way more than those in clinical practice. In addition, there is much better work-life balance, much higher take-home salaries (no need to carry malpractice insurance), opportunities for growth as one accumulates increasing experience leading to an annual salary over $ 1 million.
Yeah, but the big pharma doctor must keep people sick so they can selll all the medication they need…..there is no free lunch
Seriously? Like a medical director for say GSK or Biomarin?
The biggest factor that is not mentioned here is lifetime earnings. Surgeons, and especially neurosurgeons, orthopedics surgeons don't stay active as they aged. Their productivity declines quite early in their lifespan, whereas, Internal medicine and primary care doctors can go on into their mid eighties practicing at full speed . Another factor is stress at work. Surgeons have more malpractice lawsuits filed against them and awards to patients are rising by leaps and bounds. Sometimes, these lawsuits are career ender.
Both of my neurosurgeons were on the older side.
ugh, thats not true. Orthopods are notorious gym rats. They are buff well into their 60s. Not so much neurosurgeons.
Everybody wants to get into Medicine and become a doctor just by looking at these salary ranges but nearly all of them ignore the fact that most of the people who get into it have crazy amount of debts that haunts them from day and night.
Even if you have done your MBBS from countries like India/Pakistan by the time you pass your USMLE and complete your residency your already 32+, while on the other hands people who have chosen CS, Finance have settled down, got married, bought house and a car.
Not mentioning the fact that taxes take half of your money and your actually making half of the money shown.
Despite all of that the work life balance of a Physician is crazy they be working 12 hours a day!! If you choose to go into Medicine make sure you take all these things into account before you make a decision.
What about stress, no sleep, and no time to live humane life like enjoying that money with family??? Is this money really worth??
At the end of the day are you happy???
I have no problem with doctors earning a lot. It is one of the most difficult jobs in the world. You literally have the lives of people in your hands. Not to mention that massive cost to become a doctor, both financially and the sacrifices you have to make. Look at how many people make even more money just by moving money around or in real estate.
There are a lot of jobs with a better ROI than doctor. Consider where I live, New Jersey. A very large number of police in this state earn over $200K per year. They have Cadillac health insurance plans and defined benefit pension plans. They can retire at 50% pay after 25 years or 67% pay if they work for 30 years. Their retirement plans offer survivor benefits. For those who claim police deserve such compensation because of the dangerous nature of the work, the US Department of Labor list of top ten most dangerous jobs does not include police officer. Pretty good job considering that it only requires a high school diploma or GED.
Maximum employee contribution is $26,000 and total each year becomes $52,000
Max of total of employee plus employer is $67,000
50 & older max employee contribution is $30,500 and the total each year becomes $61,000
Max of total employee & employer is $73,500
*Hey Manik, I'm eagerly waiting for your next video..I don't know what u gonna put but please drop it soon🤞*
Talk more about they hard work , the money they have to pay back , taxes tuitions inc , it’s less then helf left
Thanks for making this! ❤
All physicians should obtain an MBA, so that the physician is able to negotiate a fair contract with the Healthcare system/ hospital
😂
MBA is just that much more schooling. Overkill for negotiations. If you want to go into administration and join the dark side you could forgo a residency and get an MBA.
There is no fair contract in most US cities. If you don't take their ongoing rate, they will refuse to sign the contract and you don't get to see those patients. Imagine not being able to take United healthcare patients, one of the biggest insurance agent in the US?
@@acepilot2474 As a radiologist you just make a contract with the hospital, either directly as an employee or better yet with a stipend to supplement what the insurance companies pay. They don't like it? They can just hire a different radiologist. Oh, wait, there are no other radiologists on the market. They are unlikely to get any at all with 3 jobs openings for every rad on the market. I understand the same is true for other specialties to various degrees.
Congratulations for your completion of USMLE exams. Now you are eligible to practice , do they pay salary and work hours details what speciality you are now? Make video please .
H Manik..great video. Couple of specilities are missing in this list - Derm, ENT..any particular reason..?
When a surgeon performs a procedure on a patient, the surgeon is the least paid person in the room. The hospital makes almost 5x his rate, the anesthesia gets paid double his rate, and lowly surgeon gets the least paid. Imagine that! The outcome of the procedure depends solely on the surgeons hands and he gets paid the least!
Somewhat hyperbolic but not completely.
As the racial pay gap the gender pay gap too can be largely explained on choice specialty per gender. Most surgical specialisties are made of males ( by choice) , which will obviously largely skew the earnings towards males. Within the same specialties your pay also depends on the amount of hours you work per week as well as if you have a private practice which skew towards men ( I'm in no way stating an opinion, just facts)
There is no gender or racial pay gap as such. Pay is determined by RVU production nothing else. The more productive you are, the more money you bring in. If you are an employee, better learn how to negotiate. Its on you if you can't negotiate. If you are a woman and a minority who chooses a low pay specialty such as pediatrics thats on you too. You could make an alternate argument that pediatricians aren't paid enough but thats completely different than whining about gender or race.
@@Ozymandias-r2v
You KKK 😂 justifying
@@abdibarri9012 Not justifying anything. Its just the way it is. If you are a woman and/or racial minority group just go into a specialty field and work hard. A lot of woman and minority physicians do just that. The biller doesn't know or care what your demographic is.
@@Ozymandias-r2v
YOU BIAS THERE TON HARD BLACK YOU RACIST THERE WHITE LAZY ALL
YOU NOT SMART
I LIVE HERE PORTLAND MOST HOME DRUG USER IS WHITE OREGAN
THERE TON SOUTH STATE WHITE METH USER
Its reality @@Ozymandias-r2v
Great information, thank-you.
.Could you please create a comprehensive video about US visa-related issues, covering the following points:
1. Hardships faced by Indian students in obtaining US citizenship.
2. Proposed plan for obtaining a US green card.
3. Strategies for navigating the 2-year home country residency requirement if u r currently working on J1 visa.
4. Anticipated timeline for obtaining a US green card (20-100 years)
Additionally, could you please share:
1. Your current visa status
2. Whether you have obtained an H1B visa or are currently working on a J1 visa.
An investment banker makes double that salary . During covid time , Fatalitiy rate among doctors and nurses were the highest
thanks manik , this was a very informative video .
Best video as far in TH-cam 🤍
Highyly appreciated video❤❤❤ very helpful
Good analysis…. Do you have salaries compared to India and USA ( with net take home pay ? ) please
We have great doctors, hospitals, and very advanced medical care but overall life expectancies in Cuba are higher than in the USA, why is that way?
Cause so many here are fat as hell..just take a look
Fentanyl?
Average life expectancy in Cuba is 73. It is 76 in the US. That said, you could have made a better argument comparing the US to some blue zone place like Japan. Mostly it comes down to diet. Too many refined carbs in the US leading to obesity epidemic. The Cubans aren't fat but they still die before US citizens.
@@walentystankiewicz8486 Part of the life expectations problem is fytenal. Cuban doesn't have a drug problem. When you factor in all the 18-28 year Olds that die from drugs it screws up the numbers.
Relax boys , ye video sirf time pass krne ke liye dekh rahe hain sab 😎😎
Please make a video on challenges that may be you faced after just coming in usa
What about insurance they pay plus loans and all other payment and see what left behind
Average yearly malpractice insurance for PCP is $7500 to 15,000?
And for specialists between $30,000 to $60,000
Additionally, state regulations, claims history, and the coverage limits of the policy also impact the cost of malpractice insurance.
Yeah crappy but is cost of doing business. Thats also pretax money so the true impact is approximately 40% less after taxes.
Radiology is by far the most in demand
Hi Dr Mandan. This video was very informative. Can you please share a link to the source of this data ?
Hi, I work in Billing section of US Healthcare where actually things happen. We mostly try to correct the billing so that we can reduce the denial and provider get his compensation. Let me know if any help needed in billing
Great Video!
If i get backlog in 1st year mbbs then can i give AMC exam ??? And it will affect future selection or not ?
What is the retun on investment for doctors in USA.
How is invested up front in education vs. Earning potential?
My brother-in-law is a doctor, he’s making over $400k a year. His wife is a Nurse Practitioner making $160k a year. They invest in real estate and are doing very well. So yes the cost of going to medical school is high but worth it.
He's making that much in US ?
@ Yes.
Specialist earn 60-75L according to PPP . Here i think we can earn alot more than that
If my college isn't in the WFME list, but it's NMC recognised which in turn is ECFMG certified. Then can I sit for USMLE?
All medical colleges in India are WFME-certified
@@Yaasirr is it? How sure u r.. There is no entry of my med clg in wfme list
Im in the music business and have been making 500k - 1m most of my career . Being a Dr. is respectable profession but not as lucrative as it used to be.
Your salary numbers can be misleading and make people misunderstand bc these salaries are gross income. Doctors have to pay at least 33% tax, several thousands tuition loans a month, a lot for liability insurances ….
Most doctors reduce their tax liability by writing off bad debt or charity care.
Little bit confused with Physicians and Surgeons journey through USMLE. Can you please clarify this difference if possible. "What is the pathway for being a surgeon of any speciality in US " ?
Your first mistake is wanting to be a surgeon. Huge strategic mistake. Read a very old book called "House of God" (not about religion).
Uncle SAM takes half of it . A very tense job
If you are going into medicine depending on the money you can make…..please do not go into the medical field. You will never be a good physician. It’s pathetic that this is even a topic of discussion. Go into the medical profession only if you feel compelled to help those who are suffering. It should be a calling not a job.
You need to grow up. The world runs on money. Not everything is rainbows and unicorns. Wanting to help people is fine and maybe that will point you toward medicine rather than banking. You still need to learn how to manage money and to negotiate. You have to be a competent financial steward for yourself and your family. No one else is going to do it just because you are "helping people". People want perfect medicine all the time when they want it and they want it for free. If you mess up or they are otherwise unhappy they will sue you.
Medicine is a calling and not for everyone.This is the reason why we have mediocre doctors everywhere.
Bro please make something for wfme guidelines and pls I am requesting for hundredth time pls make videos for usce and vslo. Please sir 😢😢
Don't be alarmed by the numbers the doctors have to pay a lot of taxes
Taxes are very high.in some states it is 38 % of salary. Cost of living is high. Property taxes also..
closer to 50% in states like CA in the highest tax bracket.
There is nothing fair about salaries of doctors. The precise definition is usury, creating conditions at gun point where the supplier, in this case the doctors, have bargaining power over customers, in this case patients. These days, this is always without exception done through government. This is simply because the government has guns. The mechanism is licensing and in case of doctors amazingly the doctors determine the number of licenses issued. This way supply is kept artificially low. All this enforced at gun point by government. As a result you get an unusually expensive service at a very poor standard by doctors. Almost certainly in this way doctors cause more deaths than savings of lives. To top it off would be doctors need to go on and on about why they just want to serve humanity on their applications where every single doctor reading this knows that his or her prime motivation is to have a good job for high pay. Of course the general public and almost all professionals are too lost and ignorant to know the difference
When you retire, no matter who you are, you need to have three types of income: 1 social security, 2 pension, 3 investment income. Think about the quality of life when you are working. There is more to life than work. You could end up being the richest man in the cemetery.
You don't need a pension. Most companies don't even offer it anymore. Also, don't assume that social security will be around anymore. Focus on investments only. If you do it right, then the social security is just a rounding error on your income.
How about General Surgeons?
SIR PLEASE MAKE THE SAME VIDEO FOR AUSTRALIA
Hey manik, I have a very imp question as a first year med student in india. When do you do usce, in med school or before internship or after internship? And how do we adjust it? Please answer sir🙏🏻🙏🏻
U can do it either after or before the internship or after it too depends on u and the type of usce u wanna do
The best professions to be in financially are those which are based on the client's fear of death. If you cut away all the crap this is the ground-floor reason for the existence of the medical profession. Lawyers salaries are in a similar position. although there may not be the threat of death, because often the threat is a ruined life perhaps financially or because of the threat of incarceration. Have you ever wondered why preventative medicine is a microscopic part of medical service? The drug companies have no interest in preventative medicine because that works against their profits. Think about it.
Sir can u explain that these salaries are post tax or pre tax?
Hi manik! Dermatology is not even in your list. Can yu kindly share stats about the salaries of dermatologists, its scope, pros and cons of choosing this speciality? TiA
Hey Dr Madan, you are a great inspiration and I have been following you for a long time. I would love to get in contact with you regarding an upcoming event!
How was this information gathered,the source or sources.
Sir please tell me if I'm a resident doctor at USA can i visit my home country in between my j1 visa for emergency? Will i be able to go back?
This is exactly the doctor type who gets in procession for making money which I will not visit for my patient care.
er what? If you want to practice medicine in an English speaking country you really need to improve your grammar. Not trying to be mean.
@@Ozymandias-r2v if i do internal medicine and then a speciality say cardio, whats the expected salary ?
@@tassinmalik9760 It depends on where you work and how many interventional procedures you do. Also your negotiating skills. As a partner you should be able to push up to 800K in CA if you work very hard.
If someone got into medicine to be rich. I am telling you that you'll have the most deppresing life by far
I have one suggestion can you just please make video on after getting match in interview or residency procedure or steps to take admission and all
I wanted to know when aiims like nagpur, raibereli will get ecfmg sponser. Plz tell 🙏🙏🙏🙏
Mbbs or nursing, which profession has more worth, i ask this question to u Dr. Maanik Madaan???????????
both are great
@@manikmadaanthanks a lot for your response, but I am asking one thing more that my cousin has gone for nursing in Australia while I am going for doing my MBBS in China, and my cousin is continuously degrading me that your decision is not right in sense of earning and future goals about MBBS, and he is always frustrating me, so thats why tell me the salaries of nurses and doctors, but I am seeing my interest in MBBS, not for money
Sir I am facing the problem, as my college is listed world dictionary of medical sciences but it's not showing on ecfmg registration as ecfmg site is updated last in 2022 September can please help me to resolve the problem
Sir one more thing actually sir when I am applying of ECFMG Epic registration my medical school showing their but not at ECFMG USMLE site sir please help me to resolve this problem
My nightmare: Arriving at the ER and seeing you.
You didn't mention Gasteroenterology specialist salary.
How is it for diabetics n endocrinologist
But you didnt mention the takeaway salaries after taxes
Around 65 percent is takeaway
Hello doc, can u plz make a video on how to get selected for Research electives or Clinical electives in 2nd or 3rd year of med school? And plz explain what is it in detail? ... Along with expenses? Am from india
Thanks
Please make a video on can Indians get into surgery residency what are the chances
Bro, you should have made this video fifteen years ago when I decided to go to college and study Renaissance Studies 😂
Hi Manik! I followed your advice and got 269 on Step 2 as an Indian IMG while in final year itself... Thanks a lot Manik.....if I could connect with you on my channel....please reply to this comment❤
Once US opens the gate to having more students enter med school these salaries will plummet. How long can US stick to it's limited intake to med school while the population is growing exponentially and wait times for specialist appointments are usually very very long.
PAs and NPs are being hired to replace the GPs and AI is supposed to help increase the productivity of everyone so limiting the number of applicants reduces competition. That said you do make a point. However, the problem is not solved just by opening more positions. There are only so many people in the world who are talented enough to become competent doctors. Properly screened you could import such individuals from places like India but then what happens to the healthcare in India with such a brain drain? Ultimately the end result will be a two tiered (or worse) health care system unless AI advanced dramatically.
Please make a video for old img
What are their chances to get into a residency. Which residencies are good to go for them
Hello sir I want ask as I am old graduate 2008 I have done my m.b.b.s now I want to move from pakistan which exam is best for me please sir guide either amc or mccqe or usmile?
401K is it tax free when withdrawn. I was informed differently
401K is tax deferred. You can withdraw 401k when you reach 59.5 any pay taxes based on yoir tax brackets. One can convert into Roth by paying applicable taxes.
No 401 k is taxed as ordinary income when withdrawn.
And all the hours that go into medical records and paperwork that we don't get paid for...
The question is what you lose to balance this gain.
Sir is it possible to enter med school and study psychiatry after bsc psychology in USA ?
How much money vs how much work. Emergency specialist average life expectancy is 58.7 years 😲.
Hi sir......I want to know that after having mbbs from india and applying for usmle step 1 2 and 3 , after that......Can an indian doctor who has cleared these steps may choose ? Their residency in USA preferered states there.....like 1st one chicago then Pennsylvania etc.......or we can't have that right to choose like this !! And any one random state can be alloted ? Please sir I have bit confusion regarding this.....Clear my Doubt !! Please sir
What about Dermatologist??
What are the chances of an IMG matching into Radiology?
Very low. Although there is a huge shortage of radiologists, there are not many training spots.
in our area advanced practice providers are replacing pcps
Hence i didnt choose to become a doctor 😂
My father-in-law is a gynaecologist in Cayman Islands and makes $1.5 million a year….tax-free.