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high paying jobs

hey all, im only doing GCSEs right now but i have some questions;

i want to be a neurosurgeon as i thought it had a high pay but some told me it wasnt high pay? (my idea of high pay is 150k+ per annum excluding bonuses), is this true?

what are the highest paying jobs in medicine (with a high pay relatively early on)

what are other high playing jobs and what is the annual salary? e.g. investment baking?

thanks!

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Reply 1

Old_Simon

I am not sure you have the vocation for medical practice.

Reply 2

kelefi

why not?

i am compassionate, empathetic and care about people BUT i dont want a job that doesnt pay high.

thats why i want to know the jobs in terms of pay. i am leaning towards a career in neurosurgery but the reason i asked this is because its still early on in my life, so i want to make choices which are right for me in the future.

Reply 3

ThatGirl276

Does anyone know where I can get a job in investment baking? Sounds yummy.

Reply 4

TheGreatImposter

Original post by kelefi

Even if you were to get a degree in something like medicine it wouldn't guarantee you 150k, have you seen the competition?
You need work experience and be the best of the best

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Reply 5

kelefi

i am talking theoretically here. i HAVE seen that there is a tonne of competition in medicine and IB but still.

lets assume for someone who has been working 2 years, what are the different pay levels (assuming above average skill)

Reply 6

Christyjanexx

When you take tax into account, if you're earning £150k, you'll only actually get £75k, so you could get a £100k job and still end up with the same amount of money as the higher paying one. Just make sure you do lots of research and get lots of work experience and then decide.

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Reply 7

slg60

Well if you are only in it for the money, which it sounds like you are, it is important to remember that the vast majority of doctors are employed by the NHS. The NHS is owned by the government, the general public generally think that doctors are overpaid, this makes doctors a target in times of austerity for salary freezes.

Investment banking is definitely the way to go in terms of money, that and fund managing. They make more than a doctor straight off the bat and they, in most cases, have not got the debt that doctors have. Further more if they are good at their job the sky is the limit! George Soros is the wealthiest hedge fund manager in the world with a total wealth of $20billion, so yeah if you really are in it for the money, hedge fund managing.

Reply 8

kelefi

i mainly want to be in medicine :smile:

the main part is deciding which area?

neurology?
neurosurgey?
general practitioner?

Reply 9

XMaramena

Tbh, if you want the big bucks in medicine, go into plastic surgery in USA :P

Of course, if you decided against medicine, you could always come over to music - I make £85-110/hr, depending on the type of job, which granted, isn't a very good level of income and more or less as high as it's going to get, unless I win a load of grammys and become an industry leader (unlikely in the immediate future lol!), but at least it's pretty steady now I've been doing it for a while.

Reply 10

slg60

Original post by kelefi

i mainly want to be in medicine :smile:

the main part is deciding which area?

neurology?
neurosurgey?
general practitioner?

Okay so if you are particularly interested in one of these areas then obviously go with that, but in terms of money, plastics is the route to go down where the money you can made is like a goldmine when you go privately. Of course lots of the specializations can make good money if you go privately.

Many people think that GPs are among the most poorly paid doctors, not true at all, the other specialists do not make good money until consultants. Where as GPs can make good money relatively early on. Furthermore, they can set up practices much more easily than the other specialists or just become partners in other practices, which means that the doctors can earn lots more money. GPs can also do lots of private work, for example my brother recently had an vaccine for chickenpox which cost £100 for 10mins of the GPs time, this was done privately. His friend had the same injection done on the NHS and I think the GP said he would get paid something like £35. The numbers speak for themselves.

Ever considered dentistry? Some dentists only get paid average salary, but some others who run their own business make more than most consultant doctors, especially if they do lots of cosmetic work. A specialism of dentistry is orthodontics, also paid extremely well when done privately. Over the course of 2 years we paid £3500 to get my teeth fixed, we went to another orthodontist before we found my one and he quoted us £8000 for the same treatment. So basically if you run the business effectively you can become a very rich man or woman.

Original post by XMaramena

Unfortunately it is very difficult to start off in the UK and transfer over to the US but yes this is true, any job in medicine in the US is paid very well, as it is almost all private! Personally I couldn't deal with it, turning away patients who need treatment but can't afford it. Also the Americans will sue you for anything beware! :wink:

Reply 11

DoctorInTraining

Original post by kelefi

If money is a key factor then medicine is not for you.

Starting salary for a F1 this year is a little over 22k per annum.

One my first day of medical school they announced if we prioritised money we should transfer to economics or engineering (who often make it to director roles in large companies).

Reply 12

kelefi

money is, i guess, a key factor.

but i really want to go into medicine?

is it essentially guaranteed that medicine (in neurology etc.) is low pay? or is there a way to make more?
money isnt the priority for me.
its the brain.

Reply 13

DoctorInTraining

Original post by kelefi

There is only one training pathway in the UK to become a neurologist.

The pay scale is determined by the NHS - we get no discussion about our salary - it is just allocated. If you want more there is no way to ask for it (unlike most private sector jobs). You are paid based on level of training - F1/F2, reg, consultant etc.

Once you are a consultant (and only as a consultant not before) you can practice privately if you wish. But there are huge insurance costs and many consultants only work privately part time whilst working the NHS normally.

Reply 14

kelefi

oh ok thanks :smile:

so there is only one training pathway for neurology, is that the same for neurosurgery? (i.e. 1 pathway - not the same pathway :biggrin:

)

what can i roughly be expected to get and how long until i could make consult?

Reply 15

Enigma Machine

So naive. So so so naive.

Reply 16

zxh800

Original post by Christyjanexx

Thankfully, that's not quite how tax works. You are only taxed the higher percentage on income earned above each respective threshold. So, a tax of 50% for people who earn over 100k is actually a tax on all earnings above 100k. For the first 100k an individual who earns 100k and another who earns 150k are taxed the same, so they are left with the same amount of money. Assuming say that this figure was 75k. The 50% tax on earnings above 100k will mean the guy earning 150k will only get 25k of the extra 50k he earns. So, overall the lower earner will have 75k and the higher earner will earn 100k. So, it's always better to earn more, higher taxes for higher incomes just reduce the differential.

Reply 17

slg60

Original post by Bude8

So naive. So so so naive.

There is not point in criticizing if you aren't going to try to help. :smile:

Reply 18

DoctorInTraining

Original post by kelefi

oh ok thanks :smile:

so there is only one training pathway for neurology, is that the same for neurosurgery? (i.e. 1 pathway - not the same pathway :biggrin:

)

what can i roughly be expected to get and how long until i could make consult?

Yes - there is 1 pathway for neurosurgery which is separate to neurology. Likewise also with fixed pay and progression model.

So say you want to be a neurologist….

6 years at medical school (as you would need to to intercalate)
2 years foundation programme
2 years Core Medical Training
5 years Neurology Specialist Training
x years until appointed as a Consultant

Realistically nobody goes through this pathway without having to take a gap year, do more research, health reasons, family etc.

Most consultants are now expected to also have an extensive research portfolio - the norm in my trust is that newly appointed consultants have a Masters at least - several have PhDs.

So in answer to your question - a minimum of 15 years - more realistically 20 years