Investment Banking vs Medicine?

My friends an di were hating and we had an argument as they said that Investment bankers on average make more than the highest paid medical professionals (Neurosurgeons for example). Anyways on pay scale the stats didn't really tell the truth but I just want to hear your views.

Who makes more money on average?

Reply 1

mushpantsbc

Original post by VNN

Investment Bankers. A lot more

Reply 2

Commercial Paper

Original post by VNN

On average, assuming you do not quit the career a few years in, the earnings of bankers far exceed that of a doctor or even a neurosurgeon.

Well, put it this way. If you're a doctor you study for 5-7 years at university, you then start on an extremely low salary (is it around £30,000?)

In banking, you only study 3-4 years at university, and start on £55,000-£85,000+ as a graduate depending on your bonus.

After 3 years in banking (i.e. aged 25), your all-in salary will typically exceed £100,000.

After 10-15 years in banking, your salary will typically range from £300,000-£1,000,000+ depending on bonus and type of bank.

If you sum up the earnings over a career, bankers far exceed those in medicine and is the reason why some bankers in the healthcare teams are ex-doctors.

The only upside of doctors is the job stability. This you definitely do not have in banking. And yes, I think doctors are horribly under-paid relative to comparable careers. Banking, Technology, Law and Consulting all pay far more than what doctors earn.

Either way, you should not do a career for the money, do what you enjoy. The trend of pay in banking is generally slowly declining whereas for doctors it seems relatively stagnant.

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(edited 7 years ago)

Reply 3

DamnDaniel2

Original post by VNN

Investment Banking by 100 miles earn way more than doctors!

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Reply 4

squish562

Depends on the doctor and what country. Some Plastic surgeons and private medical professionals are multimillionaires in the US

Reply 5

username2485961

Original post by Commercial Paper

On average, assuming you do not quit the career a few years in, the earnings of bankers far exceed that of a doctor or even a neurosurgeon.

Well, put it this way. If you're a doctor you study for 5-7 years at university, you then start on an extremely low salary (is it around £30,000?)

In banking, you only study 3-4 years at university, and start on £55,000-£85,000+ as a graduate depending on your bonus.

After 3 years in banking (i.e. aged 25), your all-in salary will typically exceed £100,000.

After 10-15 years in banking, your salary will typically range from £300,000-£1,000,000+ depending on bonus and type of bank.

If you sum up the earnings over a career, bankers far exceed those in medicine and is the reason why some bankers in the healthcare teams are ex-doctors.

The only upside of doctors is the job stability. This you definitely do not have in banking. And yes, I think doctors are horribly under-paid relative to comparable careers. Banking, Technology, Law and Consulting all pay far more than what doctors earn.

Either way, you should not do a career for the money, do what you enjoy. The trend of pay in banking is generally slowly declining whereaas...

Are you sure the pay is declining for for I bankers,it seems that here's pay is increasing as a form of recovery from the financial crisis?

Reply 6

TheGuyReturns

LOL not even close. Bankers by 100 country miles.

Reply 7

Commercial Paper

[QUOTE="VNN;67952756"]

Original post by Commercial Paper

On average, assuming you do not quit the career a few years in, the earnings of bankers far exceed that of a doctor or even a neurosurgeon.

Well, put it this way. If you're a doctor you study for 5-7 years at university, you then start on an extremely low salary (is it around £30,000?)

In banking, you only study 3-4 years at university, and start on £55,000-£85,000+ as a graduate depending on your bonus.

After 3 years in banking (i.e. aged 25), your all-in salary will typically exceed £100,000.

After 10-15 years in banking, your salary will typically range from £300,000-£1,000,000+ depending on bonus and type of bank.

If you sum up the earnings over a career, bankers far exceed those in medicine and is the reason why some bankers in the healthcare teams are ex-doctors.

The only upside of doctors is the job stability. This you definitely do not have in banking. And yes, I think doctors are horribly under-paid relative to comparable careers. Banking, Technology, Law and Consulting all pay far more than what doctors earn.

Either way, you should not do a career for the money, do what you enjoy. The trend of pay in banking is generally slowly declining whereaas...

Are you sure the pay is declining for for I bankers,it seems that here's pay is increasing as a form of recovery from the financial crisis?

Base salaries are improving but bonuses are generally lower than they were although still very high. And overall pay adjusted for inflation in the last ten years has increased by around 5%.

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Reply 8

TheJazzExpress

Bankers will no doubt earn more and sooner. However, not all bankers are going to be earning that much in the same way that not all lawyers are bigshots settling murder cases and dealing with the mafia, the majority will be sorting out parking tickets and shoplifting. So the chances of getting into the position of earning that much as a banker are pretty slim. Another thing to take into account is job security - there's always a shortage of doctors so medical professionals have no difficulty finding work. And last but not least, the majority of bankers will spend hours sitting in front of a computer or doing paperwork (yes I know Fy1s and 2s do a lot of admin) and the majority of good doctors do what they do because they want to, not because of the paycheck (I'm sure most of them could do banking if they wanted to). :smile: