Athletics and Recreation

Are Doctors Rich? $$$ Physicians vs. UPS Drivers

Are Doctors Rich? $$$ Physicians vs. UPS Drivers

doctors are rich become a doctor and you will soon be wealthy right I mean toiling through undergrad medical school and then residency surely means that by the time you're a fully fledged attending physician you'll be making Bank and the hard work will have paid off financially not so fast what's going on guys Jay from ethical insiders calm this video was inspired by a post by Kevin pezzi link is in the description below becoming a doctor in the United States and most other countries for that matter may not be as financially lucrative as the general public beliefs in this video we will do a quick demonstration and analysis of finances between physicians and UPS drivers the results may surprise you this analysis cannot be perfectly accurate as there are too many variables at play therefore we use a series of assumptions there is a link to the analysis spreadsheet in the description below where you can follow along with the calculations that I made first let's decide how much money the average doctor makes a 2017 Medscape position survey place the average full-time compensation for primary care physicians at two hundred and seventeen thousand dollars per year specialists such as cardiologist dermatologist radiologist etc made an average of three hundred and sixteen thousand dollars per year a UPS driver on the other hand makes much less at only seventy four thousand dollars per year while on the surface being a physician seems much more financially lucrative we must remember that physicians unlike UPS drivers must undergo four years for a bachelor's degree than four years of medical school and then three to seven years of residency prior to securing attending physician salaries in the process these individuals accumulate debt from college and medical school amassing an average of one hundred and eighty five thousand dollars compound interest also comes into play for the sake of simplicity UPS drivers and doctors each save fifty five hundred dollars per year and have a return of investment of seven percent which is the historic average for the stock market doctors however only start investing when they are out of which is ten to twelve years later this analysis does not include yearly expenses or interest on student loans or rather only income and investments again for the sake of simplicity over time for UPS drivers is $45 per hour I ran the analysis for a UPS driver working only 40 hours per week but then also for a UPS driver working the same hours as a doctor which is 80 hours per week up until they finished residency after residency work hours per week dropped to 60 so who is better off financially looking at the analysis we see that a UPS driver working only 40 hours per week it's financially ahead of doctors both primary care and specialist until the age of 34 or 16 years after finishing high school that means throughout your 20s and the first half of your 30s or so let's face it that's your prime you would be better off financially as a UPS driver working only 40 hours per week if a UPS driver works the same hours as a physician and gets paid overtime it takes longer for the physicians to catch up specialists such as radiologists and enthusiasts and other high-income specialties average again three hundred and sixteen thousand dollars per year it still takes them until the age of 41 that's 23 years after high school to catch up with the UPS driver who was working the same hours as a primary care doctor earning two hundred and seventeen thousand dollars per year it takes even longer they only catch up to the UPS driver at the age of 53 that's 35 years after high school and only 12 years before retirement so should I go into medicine for the money I'll let you answer that question I understand that this analysis is far from perfect but that's beside the point the purpose of this analysis was to demonstrate that becoming a physician is not as lucrative as you may initially think from seeing the salaries there is a massive opportunity cost associated with this career path due to over 10 years of training and student debt medicine is not a bad field to go into I have completed medical school and I'm now currently in residency I have zero regrets about that and I love the field that I chose but if you were on the fence if you think going into medicine and becoming a doctor will make you rich and allow you to live lavishly and then I hope this analysis has shed some light on the reality of the situation don't go into medicine for the money for those of you who are undecided on a career in medicine check out my video titled is med school right for me I'm curious to hear your thoughts in the comments below are you surprised by these figures and by the analysis are you relieved that you did not go into medicine are you having second thoughts or are you happy so because the money wasn't ever the primary focus as always thank you all so much for watching if you found value in this video then please press the like or subscribe button as those really help us out a great deal new videos every week and I will see you guys in that next one

Reader Comments

  1. i just started working at UPS as a driver. This is one of the highest paying, best benefit job you can have without a college degree. UPS also pays pension after you retire with 25 years of service, there aren't that many companies paying pension anymore. If you start working at UPS at 21yr age, you can easily retire at 46 with a couple of millions in your bank account with a bit of help from 401k and stock market AND collect that monthly pension, life set.

  2. This video should be title “ I want viewers please” doctor vs UPS driver s that a joke or you high on dope

  3. It make no sense at all to compare a medical professional with a high school  graduate UPS driver  at any point (most of the UPS truck driver are high schoolgraduate).

  4. This is all wrong! You must be a terrible doctor if you can't do simple math lol Comparing a truck driver to a physician salary is like comparing apples and oranges. There is a book called "Damned Lies and Statistics: Untangling Numbers from the Media, Politicians, and Activists"…. 1) The power of compound interest is a bitch. Especially considering you forget import initial variables. Drivers don't start at $45 per hour. They (just like everyone else) starts off at entry level salary which is more like $28 per hour for at least 5-10 years. Plus your also comparing salary employs to hourly labor and neglecting the finical differences. Doctors sometimes work less than 40 hours for example. Not to mention benefits packages! 2) Most Americans can't save 6K a year for retirement at a 74k salary! … If you want to compare salaries just look at monthly income! 3) A doctor can pay all their debt in 5 years if they live like someone who makes $74k lol

  5. Doctors are not rich, RICH is owning Billionaire dollar corporations and being a Prince of a country in the middle east. An average doctors salary is fucking pocket change that is spent on strippers and cheap ass shit from Billionaires! Gimme a fucking break doctors rich smh!

  6. Ups drivers have more stress than doctors….. the pay should be even more…. be nice to ups drivers!!

  7. This is not true. In 90 percent of cases medical students end up working for a not for profit or a government organization. This qualifies them for "income driven repayment " and student loan forgiveness. Ultimately physicians debt is paid off by the American tax payer and is the fuel for the biggest scam that is driving up the debt in America. 7 of the 10 most profitable hospitals in the US are not for profit hospitals. They bill "charitable care" at more than 18 times their procedural rates for Medicare, skewing their books, and ultimately walking away Scott free from paying income tax. Medical schools can make tuition a fortune because they know they can capitalize on the student loan forgiveness. Doctors demand huge salaries using their "debt" as leverage saying they need to pay it off when they usually end up just paying off part of the interest of their loan. It's all a huge money making scam and everyone from the hospitals, physicians, schools, and banks are in it.

  8. If doctors are not Rich, then it's their mistake.
    Why did the doctors not analysed the situation correctly to earn/get money.
    Doctors should not expect people to recognize their intelligence and get Rich as a result. They should control the situation that's around there, and make plans to get everything for themselves, sometimes with collaboration of others and sometimes not collaborating with them.
    Exploiting every kind of human emotions (violence,non violence, laughter, happiness, weeping)etc etc.

  9. Work for fedex. Get paid 55k a year and you dont have to wait years to become a driver like UPS drivers. Hire on the spot. Or just get a class A/B

  10. doctors medical malpractice perjury unconstitutional etc pussy committing muthafuckas careers a joke especially when that let alone toxic hazardous chemicals etc cause side effects including death how many muthafuckas folks go to em especially gotta go themselves in the future

  11. I do okay working for IPS but my wife Carrie gives me such a hard time about my diet. I just cannot resist a burger and Deacon and I hang out at the diner quite often so I eat a lot of bad stuff. Carrie's dad who lives with us drives me insane!
    –Doug Heffernan

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