How much money do Physicists make?

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Discussion Overview

The discussion revolves around the financial prospects of physicists, particularly theoretical physicists, in comparison to medical professionals. Participants explore the implications of choosing a career based on salary versus personal interest, and share their perspectives on the value of pursuing a passion in science.

Discussion Character

  • Debate/contested
  • Conceptual clarification
  • Exploratory

Main Points Raised

  • One participant expresses a desire to become a theoretical physicist, citing interest in topics like time travel and wormholes, while questioning the financial viability of that career compared to medicine.
  • Another participant argues against choosing a profession solely for financial reasons, emphasizing the importance of personal fulfillment in one's career.
  • Some participants suggest that $90,000 is a reasonable salary, especially in the context of the average income in the U.S., while others challenge the notion that this amount is low.
  • A participant mentions that salaries for physicists can vary significantly depending on whether one works in academia or industry, and that postdoctoral positions often pay less.
  • There are references to the financial struggles of medical professionals, contrasting the lifestyles of different types of doctors and suggesting that job satisfaction may not correlate with income.
  • Some participants indicate that a physics degree could lead to lucrative opportunities in fields like quantitative finance, although this may depend on the prestige of the educational institution attended.
  • Concerns are raised about the long duration of postdoctoral positions in physics, which may affect overall earning potential.
  • Several participants express a willingness to earn lower salaries if it means engaging in work they love, with some stating they would be content with significantly lower annual incomes.

Areas of Agreement / Disagreement

Participants generally do not reach a consensus on the financial prospects of physicists versus medical professionals. There are multiple competing views regarding the value of salary versus job satisfaction, and the discussion remains unresolved regarding the perceived adequacy of physicist salaries.

Contextual Notes

Participants express varying assumptions about salary expectations based on geographic location, career stage, and personal values regarding work and income. The discussion reflects a range of experiences and perspectives on the financial realities of pursuing a career in physics.

Silverbackman
My parents are pressuring me to become a medical doctor but I don't really want to. I mean, I rather become a medical doctor more than a lawyer or business man but I still rather be a scientist, to be more particular a Theoretical Physicist. I am very interested in Time Travel, wormholes, and the natural wonders of the universe and would want to research those topics.

There is a problem though.

Well there is actually an advantage in being a medical doctor. They make more money than physicists...or at least I am told that by my parents. I do want to go into politics later in life so I need to make major money. As a heart surgeon for example I can make $540,000 an year or as a lower doctor I can make at least $200,000 an year.

How much money do Physicists make yearly? To be more specific, how much do Theoretical Physicists make yearly? I heard it was $90,000, but my parents told me that so they could be lying to get me in a medical profession. $90,000 dollars an year is kind of low, so I would want that.
 
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You shouldn't choose any profession just for the money. Do whatever YOU want to do, don't let your parents pressure you into making a decision.

When political officals run for office they usually have supporters. If you want to get into politics later in life you should make a lot of friends who are wealthy.

$90,000 a year is not 'low'. It matters where you live. Docters may make more money a year for salary, but just imagine how much debt they need to pay off from years and years of medical school.

Ryan
 
i have a similar problem like yours, although indirectly, they make me do medicine.

Like you i prefer theretical physics as well, or theroetical chemistry, if there is such a thing.

Although i may be in no position to say it, i agree with logiX. There is no point in making lots of money if you're not going to enjoy what you actually do.

And considering the amount of mathematical work and research phyicists do, i think they really should get moer credit. Although then, it won't have that aroma of elegancy..
 
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There was an interesting article in the WSJ a few weeks ago (Jan 10) that talked about two brothers-in-law. One was a cosmetic dentist. The other was a doctor doing family practice. The cosmetic dentist was living the high life - loads of money and relatively easy work schedule. The doctor on the other hand, was pretty miserable. Beginning of article:

YARDLEY, Pa. -- Randy Bryson and his brother-in-law Larry Fazioli are both medical professionals in their 40s who practice in Pennsylvania. The similarity ends there.

At Dr. Bryson's office here in suburban Philadelphia, a fountain softly burbles in the airy reception area, and patients are offered cappuccino or paraffin-wax hand treatments while they wait. Dr. Bryson works four days a week, drives a Mercedes, and lives in a 4,000-square-foot house with a pool. He and his wife, who works part-time in the same practice, together take home more than $500,000 a year.

At Dr. Fazioli's busy practice near Pittsburgh, patients crowd a utilitarian waiting room, and his cramped office is piled high with records awaiting dictation. Dr. Fazioli says he works between 55 and 80 hours a week, and his annual income of less than $180,000 has been stagnant or down the past few years. He drives a Chevrolet.

Anyhow - I would say that if you don't go to a top school, then being a medical doctor or dentist is not a bad way to go. You have a good chance of making a good living.

However - if you go to a top-notch school, then the physics degree is useful in landing a job in quantitative finance, for example. And salaries are pretty high there. But a normal run-of-the-mill physicist is probably not making more than or much more than 100K a year. I've heard of some physics postdocs at national labs making 80K a year. Full profs at top-notch universities are making somewhere over a 100K a year. So your parents are probably right when it comes to theoretical physicists.

But - you might work in applied physics and develop some technology that you could patent and form a company around. Then - you could conceivably strike it rich. Also - I'm not sure what industry jobs pay.

If you are focused on just making money - just go to business school. Or just something in finance. There are people 3-4 years out of college who make between 150 to 200K a year. However, chances of getting jobs like this if you don't go to a good school are slim unless you're well connected.
 
Silverbackman said:
I heard it was $90,000, but my parents told me that so they could be lying to get me in a medical profession. $90,000 dollars an year is kind of low, so I would want that.

That's roughly correct, for whatever it's worth, but only in the early part of your career. Depending on whether you work in industry or academia, your salary growth could vary.
 
Gokul43201 said:
That's roughly correct, for whatever it's worth, but only in the early part of your career. Depending on whether you work in industry or academia, your salary growth could vary.

Keep in mind that in physics - the postdoc period can last a long time.
 
Focus on studying to get a job that you will enjoy doing. You want to be able to wake up every morning and look forward to going to work, that is the most important thing. I would rather make 45,000 a year doing a job I truly love than make 250,000 year doing a job I hate. Most people work at least 8 hours a day, that is a really long time to be doing something you hate.

Success is waking up every morning and being able to do whatever you want, and if that thing you want to do happens to be your job, then you have made it.

If you aren't sure, just go to college and start with physics as your major. This will let you know how much you truly love it. You can always change your mind about your major and remember that you need a 4 year degree in anything to get into medical school.
 
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Silverbackman said:
$90,000 dollars an year is kind of low, so I would want that.

The average salary in the US I believe is around $45k, $90k a year is a very nice amount. Do what you love to do, don't worry about the money. I'd rather be a happy begger than an unhappy ceo.
 
I'd be happy making 30 to 40k.

Note: In Canada, of course.
 
  • #10
Silverbackman said:
My parents are pressuring me to become a medical doctor but I don't really want to. I mean, I rather become a medical doctor more than a lawyer or business man but I still rather be a scientist, to be more particular a Theoretical Physicist. I am very interested in Time Travel, wormholes, and the natural wonders of the universe and would want to research those topics.

There is a problem though.

Well there is actually an advantage in being a medical doctor. They make more money than physicists...or at least I am told that by my parents. I do want to go into politics later in life so I need to make major money. As a heart surgeon for example I can make $540,000 an year or as a lower doctor I can make at least $200,000 an year.

How much money do Physicists make yearly? To be more specific, how much do Theoretical Physicists make yearly? I heard it was $90,000, but my parents told me that so they could be lying to get me in a medical profession. $90,000 dollars an year is kind of low, so I would want that.

You consider $90,000 low?

$90,000 is more than double the average kid.

if you're that obsessed with your paycheck, don't bother with physics. Post docs make $50,000 maximum (in general). Usually less. Tenured professors or industry physicists make $90,000 to $110,000.

I'm sorry, but you ahve no real understanding of money if you consider $90,000 low. Either that or you come from a horribly spoiled upbringing. Or both.
 
  • #11
JasonRox said:
I'd be happy making 30 to 40k.

Note: In Canada, of course.

If I'm doing theoretical physics i'd be happy making that here in the US.
 
  • #12
Starting salary for a physicist with a BS ranges from 28-50k. Theoretical physicists I'm pretty sure make the least and have the worst job outlook.
 
  • #13
Asking how much Physicists make goes to show that you do care about money.

The question never crossed my mind.
 
  • #14
JasonRox said:
Asking how much Physicists make goes to show that you do care about money.

The question never crossed my mind.


It crossed my mind, but never as a criterion for choosing it as a career, more out of curiosity.
 
  • #15
omagdon7 said:
Starting salary for a physicist with a BS ranges from 28-50k. Theoretical physicists I'm pretty sure make the least and have the worst job outlook.

Not really, its just as easy for them to get professorship positions and government lab jobs.
 
  • #16
Guys, don't get me wrong. I am just not after the money. If only was then I wouldn't bother on making this thread. I keep telling my parents that it is better to do a job you enjoy than the money but they keep saying it is better to have money.

There a couple of reasons why I myself want more money. One reason is that I want to go into politics later in life and you have to have lots of money to be successful in that line. Secondly I want a better life than my parent. My father makes on average $112,000 an year as a small business owner, so that is why I judge $90,000 a bit lower. It probably is not bad pay at all, so just because I found out most theoretical physicists maker around that much it doesn't mean becoming that profession is out of my idea.

What if you were to find a major discovery as an theoretical physicist such as a way to travel time ec.t ect. Wouldn't that boose your pay up? There is so much to discover in this line work so it is very likelly I will discover something big. Won't it booste your pay?
 
  • #17
https://www.physicsforums.com/journal.php?s=&action=view&journalid=13790&perpage=10&page=3

Check out the "What is a physicist"-entry in the above link. There are lots of references to various sites on the earnings and jobdescriptions of physicists in various fields and in various countries

regards
marlon
 
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  • #18
Silverbackman said:
Guys, don't get me wrong. I am just not after the money. If only was then I wouldn't bother on making this thread. I keep telling my parents that it is better to do a job you enjoy than the money but they keep saying it is better to have money.

There a couple of reasons why I myself want more money. One reason is that I want to go into politics later in life and you have to have lots of money to be successful in that line. Secondly I want a better life than my parent. My father makes on average $112,000 an year as a small business owner, so that is why I judge $90,000 a bit lower. It probably is not bad pay at all, so just because I found out most theoretical physicists maker around that much it doesn't mean becoming that profession is out of my idea.

What if you were to find a major discovery as an theoretical physicist such as a way to travel time ec.t ect. Wouldn't that boose your pay up? There is so much to discover in this line work so it is very likelly I will discover something big. Won't it booste your pay?

Yes. If you're churning out major research Universities will want to pay you more, and you'll be more likely to be requested for lectures and seminars which pay very well for the time involved.

AS for the making less money that your parents, my parents make about the same as yours, my dad works in franchising. Business fields will always have the potential to make more money, its simple capitalism. Science is on the other much less capitalistic in general.

However to say its very likely you'll discover something big is a height of arrogance even i wouldn't go to(and I'm the most arrogant elitist jackarse anyone i know has ever met, though i can usually put my money where my mouth is, so to speak). It doesn't work that way. Just because there is a lot to discover does not mean that you will discover it, no matter how genius you are. Its a matter of being in the right place at the right time.

The way real physics works is that lots of little bits and pieces are studied by individuals for years, then every once in a great while an einstein or a feyman comes along and pieces it all together into something coherent and cogent.

Further as for the money you have to understand the occupational lifestylf of a physicist, especially a theoretical physicist. You'll spend hours locked in a room with coffee and a blackboard, not much time to enjo larg income, you're too busy working on watever problem has you enthralled at the time. You live your job really. It has to be something that you're doing ebcause you love it.

edit: If you're concerned about cost of education vs payout at the end (which is more legitimate in my mind that being worried about the paycheck in and of itself, physics majors generally don't pay for grad school. You work as a TA or RA (research assistant) during your doctoral work and so don't have to pay.
 
  • #19
Dont go into science/engineering for the money. Go because you want more out of life.

For all your needs:
http://stats.bls.gov/oco/ocos052.htm
 
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  • #20
If you think $90k U.S. a low income, then you're better off in law or marketing.
 
  • #21
For a recent listing of the top paying jobs in the US please see:
http://fastweb.monster.com/fastweb/content/focus/story/3770.ptml?ID=
Here a physicist is 15th on the list. That is pretty good out of the thousands of jobs available in the US.
 
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  • #22
On the other hand, if you graduate with a physics degree, chances are your education was paid for by grants, fellowships, or assistantships, while those MDs spend a good portion of their income repaying student loans while still trying to build a practice.

Seriously, don't go into science for the money. For that matter, don't go into medicine for the money. Nobody needs a physician who just wants to make a big paycheck and couldn't care less about the person in front of them. If you are only interested in money, go into business. You're not going to get wealthy as a scientist, the science has to be the reward rather than the money. You also have to look at how many years it takes before you start earning the salary that you think you can live with. If you're expecting a 90K salary or higher, you have to keep in mind that you're not going to be earning that with a post-doc or even a junior faculty salary. That's a salary you earn AFTER you've obtained tenure. That's quite a few years down the road.

However, we could use more politicians with a solid training in any of the sciences. If your long-term goal is politics, it's worth considering a path where you obtain a PhD in the sciences, then instead of a traditional post-doc, apply for a fellowship as a science advisor for Congress. This will get you into the political arena. From there, you can choose to stay in politics or return to science, whichever you find works best for you.

I'd suggest you take both science and poli sci classes in college and take your time choosing a major until you're more certain of which you'd really prefer doing. This isn't your parents' decision. You're the one who has to get up every morning and go to the job you either love or hate.
 
  • #23
you can do talkshows, tonight with professor gravity or something. Or you can write books.

If you want a political career later, you could always work for the military as a research scientist, then build up connections from there.
 
  • #24
franznietzsche said:
Not really, its just as easy for them to get professorship positions and government lab jobs.

No, I don't think it is "just as easy". Experimentalists tend to have higher "employability", and most universities tend to have more openings for experimentalists and theorists because of one important factor - experimentalists tend to bring more research funding money than theorists.

Coming back to the original question, one must keep in mind that most physicists are employed as university instructors. So their pay scale are tied with what the school is willing to pay. The big (and rich) schools will pay their top faculty members top dollars (easily in the 150K range or more). If one is in a US Nat'l Lab, then again one is tied to a pay scale that's available. The other common avenue for employment, and this is where experimentalists have a leg up on theorists, is the industrial sector, where physicists are employed as "engineers" in various areas of research&development and even manufacturing, etc. Here, the sky is the limit in terms of salary.

Zz.
 
  • #25
Lots of physicists have done fundamental work that really was the foundation of many applied science-related industries. Just look at semi-conductors, chips in general and photonics or nanotechnology. Those people make big bucks, you all can trust me on that...

regards
marlon

ps : the only true engineer is a PHYSICIST
 
  • #26
Another trick : try to get famous (by winning lots of awards in physics) and then give speeches all over the world. ofcourse you will need to start small, but as you get better and better in presenting your work you can become the international movie-star of science...A Bit like the lectures and speeches of Feynmann. Then, the money will start to roll in...

marlon
 
  • #27
marlon said:
ps : the only true engineer is a PHYSICIST



This is bull. I am willing to argue so far as to say that an engineer is more likely to discover something fundumentally new if he applied himself than a physicist who only has a pure physics curriculum track
 
  • #28
cronxeh said:
This is bull. I am willing to argue so far as to say that an engineer is more likely to discover something fundumentally new if he applied himself than a physicist who only has a pure physics curriculum track

And i am willing to argue so far as to say the exact opposite. So i don't think there is any reason why we should start such a discussion, because we won't be able to convince each other.

let us be diplomatic and state that each of us has a different opinion on this matter ; whether it is "bull" or not :wink:

regards
marlon
 
  • #29
Ok ok :-p

Ill just drop down a few names and we can shelve this :cool:

Leonardo Da Vinci
Martin Perl (BS ChemE/ Ph.D Physics- co-discovered Tau Lepton)
Alfred Nobel (MechE/ ChemE)
Gustaf Dalén (Engineer/ Nobel Prize 1912)

et al
 
  • #30
cronxeh said:
Ok ok :-p

Ill just drop down a few names and we can shelve this :cool:

Leonardo Da Vinci
Martin Perl (BS ChemE/ Ph.D Physics- co-discovered Tau Lepton)
Alfred Nobel (MechE/ ChemE)
Gustaf Dalén (Engineer/ Nobel Prize 1912)

et al

Da Vinci ? Ok he was an universal genius but i think you doesn't belong in this list. At least not the way you intended it. Perl is a physicist because he is a phd in physics. Besides chemistry is a fundamental science...we can argue about the "engineering-part" that was necessary for the tau lepton discovery.

Besides, do i need to fill in the names of all physicists that won a Nobel Prize ?

regards
marlon
 

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