being a doctor is a **** deal to be quite honest.
you basically have to work your ass off until you're 30 and do a **** ton of studying and in the end you'll probably end up with an average salary of 250k.
the typical engineer can easily hit 100k+ by 30 if he moves up in his field, and combined with proper investments it's doable to reach 150k with a much less hectic workweek..
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03-06-2012, 05:21 PM #91
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03-06-2012, 05:21 PM #92
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03-06-2012, 05:23 PM #93
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03-06-2012, 05:24 PM #94
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03-06-2012, 05:25 PM #95
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03-06-2012, 05:27 PM #96
You guys are lucky in Canada.
My dad owns a company that employs mainly electrical and mechanical engineers. I don't think he's ever hired someone just out of college for more than 45k a year and he has been there for a while.
Making more than 60k a year right out of college is very rare. I'll be happy with 45k with ease to rise.
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03-06-2012, 05:27 PM #97
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03-06-2012, 05:27 PM #98
I'm already an engineer.
The reason most engineers don't make much is because they were huge nerds to begin with and don't have the social skills to move up on the ladder and aren't business savvy.. furthermore they like their job too much to switch to something in their field that's more lucrative and less enjoyable.
All I'm saying is, from 21-30 engineers work at the most 50 hours a week and make a respectable salary. By the time they're 30 they've had a great decade with a strong work/life balance and a decent amount of money coming in.
Doctors have an absolute **** life for 10 years and by the time they're balling they start a family..
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03-06-2012, 05:28 PM #99
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03-06-2012, 05:29 PM #100
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Wish I could join in the discussion but I'm in my 3rd year of grad school (PhD, biomedical engineering). BRB grad student stipend is 23,000 before taxes...when will it be mine turn to make $? Luckily the cost of living in Indy is low.
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03-06-2012, 05:30 PM #101
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03-06-2012, 05:31 PM #102
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03-06-2012, 05:33 PM #103
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03-06-2012, 05:35 PM #104
still dont see where the numbers are coming from.
median for engineering is 90K. that means at 30, you probably just hit that or are still making 80ish k. minus taxes and deductions=65ishk. minus living expenses=40k. so you're finally saving 40k at age 30. with student loans and intial costs when you move out/get car= maybe 200k in saving at 30.
you want to buy a house, or invest at this point? shows that 150k you assumed to reach is pretty off.
as for doctors, any med student can match into E.m. study+class 40hrs/week in med school for average grades. residency capped at 60hrs/wk, but most only work 40-50 anyways. finally age 30, networth= -200k. income=250k/yr. looks better to me.
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03-06-2012, 05:37 PM #105
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When I graduated undergrad I thought about becoming a professor. But when you work under one and see what they do everyday (run a lab, make sure all grad students are getting results, publish or parish, write grants, teach and prep for classes, come to the office on the weekends, etc) it makes me wonder whether I really want to do it. I'll most likely look at a research position in industry since it's something that I enjoy.
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03-06-2012, 05:40 PM #106
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03-06-2012, 05:41 PM #107
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03-06-2012, 05:41 PM #108
engineers don't average 90k. when you see stats like that, it only includes those with 'engineer' in their job titles and therefore excludes those who have made it to management.
in alberta engineers working in oil and gas have a median income of 150k. this includes engineers and managers. For all engineers it's around 120-130k. These are numbers quoted by APEGGA, the engineering professional body of alberta. However, if you look at websites you'd think that the average was 100k. That's because they don't include management.
I agree with you though that doctor is the best profession. They can take off any time they want, have 100% job security, have a ton of autonomy, and make ridiculous money.
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03-06-2012, 05:44 PM #109
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03-06-2012, 05:46 PM #110
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Medicine has some pretty extreme barriers to entry, however. Engineering is cake, especially since all you need is an undergrad degree in most cases.
If you guys are only concerned about money, you should be going into finance.
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03-06-2012, 05:46 PM #111
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03-06-2012, 05:48 PM #112
You just don't understand.
A) Your job is amazing, have you ever heard of a doctor who retires? They don't... they cut back hours but they dont retire, because they love their jobs. Helping people in that way is very rewarding....
B) You make a **** TON of money, you don't understand how much more..
My brother is 26, will be finished med this year and has a position ready for starting work this summer. Projected to make 600k
It is non comparable. They make way more money and their job is way more fun. 99% of engineers couldn't be doctors though personality wise.
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03-06-2012, 05:49 PM #113
in canada IB maxes out at about 1 mil. it isn't the same as the states. it's also next to impossible to get into a top bank, even from a top school.
but yeah i interviewed with mckinsey when i was still in school. those type of positions are available.
but honestly, more realist path in finance:
Ivy undergrad --> BB analyst for 2 years --> industry or something. That's the reality these days. Very few make it to associate level or PE type positions.
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03-06-2012, 05:51 PM #114
When was the last time you went to the doctor? Most of them are pretty flat personality wise. Not any different from engineers. I wouldn't consider either career fun. I don't know if you're just arguing for the sake of arguing or what.
and what kind of doctor is your brother if he's finished residency by 26? The only possible thing he could be doing is family medicine, assuming he got into uni at 17 and got into med school after 2 years.
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03-06-2012, 05:54 PM #115
disagree. most of my dad's friends have started and stayed in engineering after 20ish yrs. only exceptions are one works in mid east for 200k/yr tax free. the other one used inheritance money to start a construction company. and theres only like 1 manager for every 40 engineers anyways. and my dad and half the other sr engineers make the same as the section manager at the end of the yr if you adjust for the hours worked.
and if you're looking for exceptions, it applies to md field too. tons of doctors get in groups to start large clinics or do a side teaching gig of 10hrs/wk for an extra 100k. so best to just compare the medians for both fields.
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03-06-2012, 05:56 PM #116
where I work there are 3 managers for 10 engineers. More if you include the district and operations managers, who are also engineers, but are not actually part of the engineering group. have you ever seen office space? that's how it is in my experience. I already stated which is better salary wise. I was just arguing that salary surveys for 'engineers' deflate the real values.
Last edited by Kokanee; 03-06-2012 at 06:02 PM.
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03-06-2012, 05:58 PM #117
My engineer friend had to movie 3 hours away just to volunteer/make 40k. The only engineers making bank are in their 30s+ or working way the **** away from home.
This is a different era and the 2nd worst economy in the history of our country... If you are under 30 years of age, the game has changed. Nothing matters but your age-group.
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03-06-2012, 06:02 PM #118
k lets be real, you gotta be able to love engineering to sit there and draw out diagrams or whatever they do, they can get all the money they want
and lol srsly, the average at my school's engineering program is like 60 or 65 because a bunch of lazy kids think all you gotta do is pass, are you people really telling me these people will ever see over a 100k salary?
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03-06-2012, 06:04 PM #119
while yes being a doctor is great and all
you dont begin to enjoy your life til your 30s
and if it was easy more people would be making it, med school isnt easy by ANY MEANS
whereas if you have good work ethic and a strong background in mathematics(especially problem solving) you can make it in engineering. can't say the same for practicing medicine
to those talking about finance, it is VERY oversaturated with new guys coming in. of all the people i hear of that struggle its them, and its not because they arent talented but simply because alot of firms and companies just arent hiring
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03-06-2012, 06:05 PM #120
no offence, but that doesnt sound like a good company. probably a small firm.
i'm aware of the management structure of both suncor and syncrude out west. theres a project manger, a few managers (these guys put in 80hr/weeks) for different sections, and a shiit ton of engineers. grilled my dad first hand about everything when i was making a career choice.
and again, out of millions of engineers in US, a few that go into management dont affect the data in a significant manner.
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