Do doctors make a lot more money than engineers?
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Mar16-10, 06:16 PM
Everyone here who has sat down with a spreadsheet (or paper + calculator) and figured up the net present value of an engineering degree and medical degree that includes the following variables:
# of years in college, # of years resident, starting pay, variation in salary over time, interest rate, years employed, amount of college/med school debt
raise your hand.
(Raises his hand).
It's a learning experience. It's interesting to compare to other professions: law, actuarial work, pro baseball player. If you can include other variables, such as variance in pay, and model them, that even makes it more fun, though I've only barely dipped into that (largely due to lack of data).
When I was done with the above excersizes, the question "Does so-and-so make more money than so-and-so?" started to seem weird, to put it nicely. Your mileage may vary.
Kind of like shopping by comparing monthly payments instead of actual price.