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Many of you have asked how much I make as an American surgeon. @medscape has recently published an article that compares USA doctor salaries and compares it to our international colleagues.
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Americans make a lot more than our international colleagues but there are many things to consider before making premature conclusions. The most important thing to consider is that USA medical school is ridiculously expensive, and longer than other countries. It costs at least $50,000 a year for a minimum of four years to go to a USA medical school. This is after four years of university, which can be just as expensive. Other countries offer free medical school, and sometimes students go right in after high school. That is almost a $400,000 difference right there, not including interest on student loans. Cost of living is usually higher for Americans.
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Next, Americans like to sue everyone for everything to get an easy payday. Our sue happy culture is set up by lawyers who have created a system where it is cheaper to pay someone to go away than to fight a frivolous lawsuit and prove your innocence. For example, it is much cheaper to settle and pay someone $20,000 to drop their lawsuit than spend $100,000 to fight the case and “clear your name.” And that is the amount you pay IF you win. If you lose, you pay the judgement amount on top of that. Therefore insurance rates are sky high for professionals. Some OB: Gyn doctor pay over $100,000 a year just to have malpractice insurance. Interestingly, this study shows that American doctors have the some of the highest job satisfaction rates compared to other countries.
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I tell people who want to get rich to go into business or finances, not medical school.
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Comment your thoughts on American doctors’ salaries compared to international doctors.
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@medscape.
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