Updated July 2026 with the latest available national data on salaries, student debt, work hours, student loans, and taxes.
Before you read this post, I want you to take a quick survey.
What Do You Think?
Physician Assistant vs. Physician: Show Me the Money
Often, the decision between PA and physician is considered difficult—but should it be?
This was the first in a series of posts designed to help answer the age-old PA-versus-physician question. And because one of the most common searches after “physician assistant” is “salary,” I thought I would begin by addressing the elephant in the room and showing you the numbers.
Annual salary numbers by themselves are nearly useless. They do not account for the hidden variables: time spent in training, education debt, residency, taxes, career length, and hours worked each week.
So this post addresses those variables with one equation and calculates a much more useful number:
True Hourly Wage
This post is heavy with numbers, so grab your glasses—and perhaps a calculator. The results remain interesting, even after bringing the original analysis into 2026.
A quick note about the math
This is an illustrative comparison, not personal tax or financial advice. To make the three careers comparable, the updated model uses the same rules for everyone:
- May 2025 national mean wages from the U.S. Bureau of Labor Statistics—the newest BLS occupational wage data, released in May 2026
- A married California household with two qualifying children, one income, the standard deduction, and no other income
- 2026 federal income-tax rules, employee FICA taxes, and the latest available California tax schedule (2025)
- A 20-year level-payment loan model using 2026–27 federal rates: 8.07% for graduate/professional debt and 6.52% for undergraduate debt
- No loan forgiveness, income-driven repayment, refinancing, origination fees, autopay discount, investment growth, raises, inflation, or geographic pay adjustments
- No employer retirement match, pension, health insurance, or other benefits for any of the three careers
That final point matters. The original post credited a pension to the teacher and a retirement match to the PA but not to the physician. Because benefits vary enormously by employer and state, this revision excludes them from every calculation.
The tax calculation is also a standardized snapshot, not a literal lifetime tax forecast. It holds the married-with-two-children household constant across each career so the occupations can be compared under identical rules; real tax rates, filing status, deductions, and qualifying dependents change over time.
| 2026 model input | Internal medicine physician | PA | High school teacher |
|---|---|---|---|
| Annual gross wage | $267,200 | $141,280 | $76,320 |
| Estimated annual income after modeled taxes | $199,126 | $117,549 | $70,015 |
| Education-debt principal used | $215,000 | $112,500 | $29,560 |
| Modeled lifetime loan payments | $433,854 | $227,016 | $52,978 |
| Weekly work hours used | 56.5 | 40 | 53 |
Debt figures describe borrowers, not every graduate. Many people finish school with less debt—or no debt at all—and others owe considerably more.
So let’s get going.
Physician (MD or DO): True Hourly Wage
Becoming a Physician Is Expensive
For the 2025–26 academic year, the average published undergraduate tuition and fees are $11,950 for an in-state student at a public four-year university and $45,000 at a private nonprofit four-year university. Once housing, food, books, transportation, and other expenses are added, the average annual student budgets rise to $30,990 and $65,470, respectively.
The sticker price is not the same as the debt. Grants, scholarships, family support, school choice, and employment all affect what a student actually borrows. Among 2023–24 bachelor’s degree recipients who borrowed, the average cumulative debt was $29,560.
Then comes medical school. The AAMC reports a median four-year cost of attendance for the class of 2026 of $297,745 at public medical schools and $408,150 at private medical schools. Those totals include more than tuition, but they are still sobering.
Fortunately, the average student does not borrow the full cost of attendance. According to the AAMC, 70% of the medical school class of 2025 graduated with education debt. Among those indebted graduates, the median education debt—including premedical debt—was $215,000.
Service scholarships, loan-repayment programs, and programs such as Public Service Loan Forgiveness can radically change the outcome for an individual physician. But they are not universal, so they are not included in the central calculation below.
The federal student-loan interest deduction is also too limited to rescue the economics. It remains capped at $2,500 and is subject to income phaseouts. More importantly, a tax deduction reduces taxable income; it does not reimburse the borrower dollar for dollar. To keep this comparison clean, the model does not include the deduction for any profession.
What Does $215,000 of Debt Cost?
The fixed rate on new federal graduate and professional Direct Unsubsidized Loans first disbursed from July 1, 2026, through June 30, 2027, is 8.07%. At that rate, repaying $215,000 with equal payments over 20 years would require about $1,808 per month and approximately $433,854 in total payments.
That is an illustration, not a prediction. Actual medical graduates commonly have loans issued in several years at several rates, and their repayment paths may include residency-era income-based payments, interest subsidies, forgiveness, refinancing, or accelerated repayment.
Federal graduate lending also changed on July 1, 2026. Grad PLUS borrowing ended for most new graduate and professional students, with transition exceptions for certain continuing borrowers, and new federal borrowing limits took effect. That change may push some future students toward institutional or private financing, so the economics of medical and PA education deserve even closer attention going forward.
Physician Income, Taxes, Hours, and Training
The latest BLS occupational wage release places the May 2025 national mean annual wage for general internal medicine physicians at $267,200.
Under the household and tax assumptions described above, that becomes an estimated $199,126 after federal income tax, California income tax, Social Security tax, and Medicare tax. This is not a paycheck estimate for every physician; it is one standardized tax case used for all three careers.
Internal medicine requires a three-year residency. The AAMC’s projected 2025 first-year resident stipend was $67,400. For simplicity, this model holds that stipend constant for all three years. After modeled payroll and income taxes, the resident earns approximately $62,244 per year, or $186,732 over three years.
The original article estimated that an internal medicine physician spends about 34,000 hours training after high school, including college, medical school, and residency. There is no single nationally standardized “training hours” figure, so that estimate is retained for continuity.
In the AMA’s 2024 data, internal medicine physicians reported 56.5 hours per week on work-related activities. We will continue to assume 48 working weeks per year.
If our hypothetical physician finishes residency at age 29 and retires at age 65, that creates a 36-year attending career.
Let’s Run the Numbers
True Hourly Wage for an Internal Medicine Physician
[($199,126 × 36) + $186,732 − $433,854] ÷ [(56.5 × 48 × 36) + 34,000]
$52.58 per hour
And Now the Moment You Have All Been Waiting For...
Physician Assistant/Associate: True Hourly Wage
The latest BLS occupational wage data place the May 2025 national mean annual wage for PAs at $141,280. That number is reassuringly close to AAPA’s newer profession-specific finding: the 2026 AAPA Salary Report found median PA compensation of $140,000 in 2025.
Under the same household and tax assumptions, the BLS wage becomes an estimated $117,549 after modeled federal, California, and employee payroll taxes.
PAs are educated at the master’s level. Most PA programs are approximately 27 months and include more than 2,000 hours of clinical rotations. Many programs also require or strongly prefer hands-on healthcare experience before admission, although the amount varies by program.
The original article estimated about 12,400 total training hours after high school for a PA, including a bachelor’s degree, pre-PA patient-care experience, didactic education, and clinical rotations. Again, no single official national “total training hours” figure exists, so the estimate remains in the model for continuity.
The latest PAEA student-debt report is Student Report 6, published in January 2025 from the association’s 2022 matriculating and end-of-program surveys. It found that 83.0% of responding graduating PA students had borrowed for graduate PA education. The report publishes debt ranges rather than one exact median: the midpoint graduate borrower fell in the $100,000–$124,999 range.
For the calculation, I use $112,500, the rounded midpoint of that median range. This is a modeling estimate, not a PAEA-reported exact median. The same report found that 47.4% of responding graduates also had outstanding pre-PA education debt, with the midpoint borrower in the $25,000–$49,999 range. It would be misleading to add that earlier debt to every PA, so pre-PA debt is not added to the central model.
At 8.07% over 20 years, repaying $112,500 requires about $946 per month and $227,016 in total payments.
NCCPA data place the typical PA workweek near 40 hours; AAPA also reported a 40-hour median in several PA specialties in 2025. We will use 40 hours per week and 48 working weeks per year.
If our hypothetical PA finishes school at age 27 and retires at age 65, that creates a 38-year career.
Let’s Run the Numbers
True Hourly Wage for a PA
[($117,549 × 38) − $227,016] ÷ [(40 × 48 × 38) + 12,400]
$49.67 per hour
And Just for Fun—Because Both of My Parents Are Teachers
High School Teacher: True Hourly Wage
The latest BLS occupational wage data place the May 2025 national mean annual wage for secondary school teachers, excluding special and career/technical education, at $76,320.
Under the same household and tax assumptions, that becomes an estimated $70,015 after modeled federal, California, and employee payroll taxes.
Teachers spend about 6,400 hours training after high school in the original model—the estimated classroom and study time required for a bachelor’s degree. State licensing requirements vary, and many teachers later earn graduate degrees, so an individual teacher’s training time and debt can be higher.
Among 2023–24 bachelor’s degree recipients who borrowed, the average cumulative education debt was $29,560. At the 2026–27 undergraduate federal loan rate of 6.52%, paying that balance over 20 years would require approximately $221 per month and $52,978 in total payments.
The original version assumed teachers worked only 40 hours per week for 38 weeks. That excluded too much real labor. BLS notes that teachers commonly spend evenings and weekends grading and preparing lessons, and RAND’s 2024 State of the American Teacher survey found that teachers reported an average of 53 total work hours per week, even though their contracts averaged 38 hours.
We will therefore use 53 hours per week for 40 weeks per year. If a teacher finishes college at 22 and retires at 65, that creates a 43-year career.
Many public-school teachers participate in defined-benefit pension systems, but benefit formulas, vesting, employee contributions, Social Security coverage, retirement age, and cost-of-living adjustments vary widely. Rather than invent one national pension, the model excludes retirement benefits for the teacher—just as it excludes them for the PA and physician.
Let’s Run the Numbers
True Hourly Wage for a High School Teacher
[($70,015 × 43) − $52,978] ÷ [(53 × 40 × 43) + 6,400]
$30.32 per hour
For the Love of Money
| Career | Gross annual wage | Modeled after-tax income | True hourly wage |
|---|---|---|---|
| Internal medicine physician | $267,200 | $199,126 | $52.58 |
| PA | $141,280 | $117,549 | $49.67 |
| High school teacher | $76,320 | $70,015 | $30.32 |
After accounting for estimated training time, borrower debt, years worked, work hours, residency income, and taxes, the adjusted net hourly wage in this model is $52.58 for an internal medicine physician, $49.67 for a PA, and $30.32 for a high school teacher.
The physician’s annual gross wage is about 1.89 times the PA wage, but the physician’s true hourly wage is only about 1.06 times the PA true hourly wage in this model. The extra years of training, residency pay, higher debt, and longer workweek erase much of the apparent salary gap.
PA vs. Physician Round 1 still goes to the physician—but by an extremely narrow margin.
That conclusion is not universal. A physician in a higher-paying specialty, a PA with a large bonus, a teacher with an excellent pension, a graduate with no debt, or a borrower who receives forgiveness could produce a very different result. Career satisfaction, autonomy, time with family, professional risk, call schedules, geographic flexibility, and the work itself also matter—and none of them fits neatly into a salary equation.
But the central lesson survives the update: do not choose a career by comparing annual salaries alone. Compare the full path required to earn that salary and the life you will live while earning it.
Oh yeah, and how about that stay-at-home 35-year-old living in the basement in our poll? If anyone has time to run that calculation, post it in the comments. We may all be working way too hard!
If you liked this post, please feel free to share it.
—Stephen Pasquini, PA-C
Have You Seen the PA vs. Physician Infographic?
View the PA vs. Physician Infographic
Sources and Methodology
- U.S. Bureau of Labor Statistics: May 2025 national occupational employment and wage estimates
- AAMC: Medical school debt and cost of attendance
- AAMC: Resident and fellow stipends
- PAEA Student Report 6: PA education debt
- AAPA: PA education and clinical training
- AAPA 2026 Salary Report highlights
- AMA: 2024 physician work hours by specialty
- NCCPA 2024 Statistical Profile of Board-Certified PAs by State
- RAND: 2024 State of the American Teacher survey data
- College Board: Trends in College Pricing 2025
- College Board: Trends in Student Aid 2025
- Federal Student Aid: 2026–27 Direct Loan interest rates
- U.S. Department of Education: Federal graduate loan changes effective July 1, 2026
- IRS: 2026 federal tax brackets and standard deduction
- Social Security Administration: 2026 FICA rates and taxable maximum
- California Franchise Tax Board: 2025 tax rates, deductions, and exemptions
Calculation precision: displayed annual figures are rounded to the nearest dollar, while the final hourly calculations use unrounded values. “True hourly wage” is an illustrative career-adjusted earnings measure created for this article; it is not a standard labor-economics metric.
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What about pharmacist pay? how does it compare to PA?
That’s a great question — comparing pay between pharmacists and physician assistants (PAs) gives good perspective. Here’s a breakdown based on the most recent data:
⸻
Pharmacist Income
• The median annual wage for pharmacists in the U.S. was about $137,480 as of May 2024. 
• Mean annual wage sits around $134,790, with hourly mean around $64.81/hr. 
• Other sources quote average salaries for pharmacists at around $151,000/yr (≈ $73/hr) depending on practice setting, experience, and location. 
• Keep in mind: in some settings (especially retail) pay growth has been limited and workload/stress remains high. 
⸻
PA (Physician Assistant) Income
• The median annual wage for PAs was about $133,260 in May 2024. 
• According to the American Academy of Physician Associates (AAPA) 2025 salary report, median total compensation for full-time PAs rose to $134,000 with a median bonus of ~$7,500. 
• Salary ranges vary significantly by specialty, region, employer type — e.g., surgical/ER PAs can make well over $150K. 
⸻
How They Compare
• On the surface, the compensation numbers for both professions are very similar, often in the ~$130K-$150K range, depending on experience, location, specialty and employer.
• A pharmacist might have a slightly higher “average” in some datasets (especially when specialty/clinical roles are included) whereas PAs may have more variation (and upside) depending on specialty and clinical setting.
• The non-salary factors differ too:
• PAs typically have more direct patient care/clinical responsibility, procedural work, and wider variety in settings (ER, surgery, outpatient, etc).
• Pharmacists’ work often centers around medication management, dispensing, sometimes clinical services — but retail settings especially can carry high stress, shift work, heavy workload.
• Career mobility, specialties, on-call/overnight duties may differ significantly.
⸻
My Take
If you’re deciding between the two roles (or advising someone), pay alone isn’t the only factor — you’ll also want to weigh: scope of practice, day-to-day responsibilities, lifestyle (shifts, on-call), job outlook, growth opportunities, and personal interest/time to train.
– Stephen
Hi there. I am really struggling. The only two things that I have always wanted to do are practice medicine and be a mother. I have to apply within a year, and I just can’t make a decision. I realize many female MDs work full time and are amazing mothers. I fully support that, and I am happy for them. Please understand that I am not criticizing these mothers, I just know myself and I know that once I have kids, I will not be happy working full time, at least when they are young. I would have absolutely no problem in med school. I LOVE school, so that is not an issue. I am not too worried about debt; I have a full ride for undergrad and I know that whether I go MD or PA, my salary will be high enough to pay off my debt. I am mostly just concerned about lifestyle. It is important to me to be home with my family, which points me in the direction of PA school. However, I have heard that the PA field is oversaturated, and it is hard to get a job lately because the profession is becoming more popular. I have heard it is especially hard in Missouri, specifically St. Louis, as this region generally prefers NPs. Is this true? I am hearing so many things and would love if you could weigh in. Thank you in advance.
Hi Erin, I can tell you have given this a tremendous amount of consideration, so I am sure you will make the best decision for your situation. As a family practice PA working in California, I am always blown away when people mention that PAs are having trouble finding jobs in various parts of the country. The healthcare shortage is profound, so I find it hard to believe that the PA profession is saturated anywhere. But is that the case in Missouri? You may know better than I! I receive recruitment letters weekly from all types of specialties offering competitive salaries, relocation bonuses, and great benefits. The job market, according to the oft-quoted Bureau of Labor Statistics National Occupational Outlook Handbook, predicts a 31% increase over the next ten years. In California, we have been gaining ground on NPs even in family practice, and I notice the County of Santa Cruz, CA where I work (which has notoriously been bullish on NPs) has been hiring many PAs… I like to think it is because of our amazing track record.? As far as family is concerned, my partner and I have raised two children now, ages 12 and 14, as part of a healthcare family (my wife is an RN, and I am a PA), and I wouldn’t change it for the world. I know several MDs who I work with who have been integral in their children’s lives and raised very happy children, and I am fairly sure they would also say they wouldn’t have changed a thing. The one caveat here is choosing the right specialty. I think this applies to both the PA and the MD profession. Avoid surgical subspecialties if you want to be happy and part of your children’s precious childhoods. In my experience, the on-call hours and the constant grind can be exceedingly difficult to maintain while prioritizing your family. Maybe somebody else would like to weigh in on this, but that is my experience and I have seen many MDs (and PAs) lives upended because of it.
Stephen
I an currently a undergraduate student trying to figure out which route is best for me. I want to be able to build/maintain a family. I am trying to decide between NP, PA, or MD. My specialties will likely be between Obstetrics Gynecology (the more likely option), Pediatrics, or maybe even Dermatology. I am confused because when I look up average salaries it sometimes says that Nurse Practitioners make more than Physician Assistants and that they have more Autonomy, even though I also read that it varies by state. I want to be able to deliver babies and have independence. I like working in groups sometimes. I imagine myself actually working with the patient and being there for them. I could see myself being in states like CA, GA, FL, NC. Where would you recommend I do? I don’t want to be overworked which I heard is the case for nursing positions. But in my desired specialty there are barely any PA positions that will allow them to help birth babies. HELP!
Hi Alexis,
Have you investigated nurse-midwifery as an option? Just want to add a bit more to your confusion :-)… Take a look into this and let me know your thoughts.
Stephen
Stephen,
Thank you for writing this post. It truly helped me decide to be a PA instead of a MD.
I like to help people too, and I also want to have a life and hobbies outside of my career. It is great to read what you wrote!
Current loan interest can be consolidated under 4% (3.75 last offer I received in mail).
Specialty matters, this calculation is for primary care specialist.
For someone nervous about carrying debt, PA school is an easy decision….. but you need to apply and qualify. It may be easier to get in, so that is also a stress relief, but you may need to broaden WHERE you are willing to receive your training.
Loan repayment programs are changing, most recently the CA loan repayment program for primary care doctors will help pay up to 300K in educational debt! This applies to primary care, let’s face it, specialists salaries are much higher, and they can afford to pay their loans.
Many employers are able to offer loan repayment as additional salary benefit, so educational debt really should not be the reason to not choose Medical school.
Time for training, location, family, and ultimately work life are all real. The is a major trend supporting PA training and the job availability is plentiful.
The ability to find employment where you want to live is definitely favorable…. and you can change specialties as a PA because your not tied to board certified training limiting your job opportunities.
Physicians comp varies greatly. PCP is at the bottom tier, then academic vs employed vs private practice as well as geographic region. For Family Medicine, your logic makes relatively good sense.
However, add two more years residency/fellowship and the board certification and compensation skyrocket. Both starting comp and average comp are at least double. Easily in reach is over $500k plus large retirement plan opportunities. It is competitive and sacrifices are made. PA’s have much more limited upside. Read Medscape physician compensation surveys.
I am seriously considering the PA route. However, I am leaning heavily into the research aspect of the career… I want to research new ways to treat the brain. I have no initiatives for creating/maintaining a family, don’t mind dashing upwards of a 60+ workweek, and want to pour myself into the concepts of neurology, neuropathology and perhaps a touch of psychiatry. Also, employment autonomy and being the “final word” are important to me in a salient decision-making team. For these “personal” reasons, a lot of people suggest I should go MD or DO. Do you agree?
Hi Cole, yes, I agree that you would probably be better off (and happier) pursuing your MD and going into research as you have suggested. And what better place than in the field of neuroscience!! You will never be bored!
Stephen
MD for research, maybe even MD/ PhD! Most combined PhD programs will pay your MD educational debt
Why not just “Why my wife is happy I am a Physician Assistant”? Do we need to downgrade another profession just to further validate our own?
PA can be the perfect profession for some, but not for others. Also it turns out that no PA working today would have the ability to work without a supervising MD. We need great doctors! Future healthcare providers need to know all of their options when choosing a career path – and should be educated on it. But he/she should be making this decision on his/her own.
Disclaimer: I am a PA and I love my job!
This isn’t how things work in real life. Doctors work more and make more than teachers and PAs- let’s not use numbers to fabricate reality here.
I was wondering if someone was going to bring up REALITY in response to this obviously biased article. I am a college advisor and previous high school teacher, and my husband is currently pursuing medical school. We’ve done the math, and these numbers are way off because of faulty assumptions. One such huge assumption is that all doctors make and stay at around $210K/year. Not even close to true, especially when you get into different specialties. Another faulty assumption is that a doctor is going to take the maximum amount of time to pay off student debt, and that they have debt from their bachelor’s as well. Both would be wrong in most cases. The entire teacher’s salary calculations are waaaay off due to many factors, and I would know. This guy can’t possibly think that a high school teacher takes home within $3 of what a doctor makes, accounting for all the factors he is (mistakenly) taking into account. With the type of mathematical logic he’s using, I’m surprised at his education level. Doctors make way more than teachers, and much more than PAs as well. Let’s not fool ourselves. All one has to do is look at their differing socioeconomic lifestyles, net worths, and assets to know that. We could have saved him making up data to fit this narrative.
All good points Melissa and you are right…
– “One such huge assumption is that all doctors make and stay at around $210K/year. Not even close to true, especially when you get into different specialties.” Yes, for a doctor pursuing surgical subspecialties it is common to make well over 400-600k per year.
– “Another faulty assumption is that a doctor is going to take the maximum amount of time to pay off student debt and that they have debt from their bachelor’s as well.” Yes, if you are able to fund school without accruing debt this will create a much more favorable situation (for both the teacher and the doctor)
In the end, all financial breakdowns and comparisons are going to depend on a multitude of factors that have nothing (or very little) to do with the cost and length of education and the average pay scale. One can become just as trapped while playing a game of lifestyle inflation and hedonic adaptation making 20 million dollars a year. Just look at so many artists who have found themselves bankrupt at a very young age! The truth is if you play your cards right and educate yourself on finance at an early age you can make decisions that will help you attain your goals whatever they are. Whether that is working in the Peace Corps as a doctor, helping inner-city youth as a teacher, becoming a college professor, or opening a business as a plumber, working on the NY stock exchange, or even retiring early to a sunny beachside in the Bahamas.
Thanks for your comment, I am sure your students are lucky to have you as their college advisor!!
Warmly,
Stephen Pasquini PA-C
http://www.smartypance.com
http://www.thepalife.com
I have 2 major bones to pick with your calculations.
1.) PAs get employer matching contributions, teachers get a pension, yet physicians get nothing? This is unlikely and unrealistic. Give the physician 3% match and this will add a cool $250k ($230k x 3% x 36 years) to the numerator.
2.) MD training is 34,000 hours and PA training is 12,400? I am curious how you pulled 34,000 out of thin air. 6,400 for undergrad (consistent your other two career choices) and 3 x 3,000 (80 x 30 + 40 x 15 + 0 x 8) hours for residency (3 years since you are assuming the salary of a IM physician with a 4+2 schedule working 80 hours /week during IP blocks and 40 hrs/week during OP blocks plus 4 weeks for vacation and 4 weeks for “research” if pursuing a specialty but since the assumed doctor will not specialize this research time will be spent researching Netflix’s catalog of movies and shows). This leaves about 18,000 hours spent in medical school? Unlikely and terrible assumption. The first 2 years of medical school is about 4,000 hours and the last 2 years take up no more than 3,000 hours of “training” for didactic/clinical work. The denominator should really be reduced by about 10,000 hours.
Make these realistic adjustments and MD earnings will dwarf a PA’s earnings.
Even the least ambitious MDs will blow your average PA out of the water. I hope PAs are never allowed to work independently of MDs. Honestly a MD should have been required to sign off on this pathetic work of yours.
Your mother should have been required to sign off on your ability to access the Internet. She either failed to teach you how to disagree cordially or you lack basic social skills. Grow up.
I have 500 k debt.
I will pay 250 k in total and loans will be forgiven… this is via pslf.
I am internal medicine.
I made 420 k 2021 and expect to push 500 k this year.
PA vs doctor aren’t even close for pay. Both great fields but not close.
I read your article, and it was interesting to say the least. However, there was one small error…and because your parents are teachers you should know…that teachers rarely work fourty hours a week. I’m and English teacher in Kansas. My yearly income is 37000. I work Monday-Friday, but my day starts at 7:30 and I leave the building at 4:30 on a good day. I don’t get bathroom breaks, coffee breaks, and if a fight breaks out on my way to lunch…I don’t get my 25 minutes to snarf food. I also spend two to three hours a night at home grading, planning, and writing tests and lessons at least three days a week. I also must read and re read everything I as my students to read. I am also required to attend workshops and seminars often on the summers. Then couple in the students who I care about showing up to school sick, scared, or worse and worries come home with me. Please also remmwber I don’t get off everyday your child does. I have in-service days, parent teacher conferences, and work days. You job is critical don’t get me wrong. Your college costs are astronomical I agree. I also spend at a minimum 400.00 a year out of my own pocket for items needed in my classroom. Teachers work an average of 51 hours a week for fourty weeks. That translates into 39.2 hours a week for 52 weeks. Then you get you hourly wage of 15.45 per hour and I didn’t calculate for my student debt. I’ve paid 150.00 a month for the past 13 years and have 33k left to go and…I didn’t subtract my out of pocket expenses from my salary. Just saying I’m not a mathematician but your numbers might be off. Show me a teacher who works only 40 hours and only works 38 weeks a year.
I want to thank you for sharing this. I am a second year college student majoring in biology and I frequently go back and forth between whether I want to go to PA school or Med school next. As a girl I tend to think a lot about the family aspect, as I wish to have all my kids before the age of 35, and be able to be a mother who is able to be around a lot as my kids grow up. This just made me about 90% sure that I want to be a PA (which is the most sure I’ve ever been). Thank you again 🙂
Hi, SK, I am glad I was able to nudge you in the right direction! I am pretty biased, but in today’s medical climate, I think it’s safe to say that you’re making the right decision. Let me know if you ever have any questions.
Stephen
I was fortunate enough to have medical school payed by my parents so I earn tons more. My father was a physician so he could afford it in the old days. My son is going to go to Med School in 2018 and I can afford to pay his entire tuition. Doctors are often a family trade just like fireman, so keep it in the family or forget it from a monitary stand point
Good advice David, I am sure a vast majority of those who want to be doctors are not doing it for the money, nor should they. It is good to have that validated.
Stephen
Thank you for this fascinating and insightful analysis. many people both MD and PA are not aware of the actual return on investment of their time, money, emotional strength, health etc required in training and work. either over or underestimating it.
I request that you analyze the cost/revenue provided by the MD and PA training career track much as you have done, but with the following aim: to arrive at a number for the future value which results from each track. that is, viewing each track purely as an investment. I would be interested in seeing a future value at the time of say 10 years into post training practice, and at retirement age. thus answering the question, if you undertake this track, what value will be created at the 10th year of practice and at retirement. feel free to ignore taxes and inflation.
my son is interested in ortho and I want him to realize the actual cost so as to make an informed decision.
Interesting take on income from an hourly perspective! That’s crazy that the hourly difference is so narrow!
Also, Dr. Terry, I’ve actually done exactly what you asked for except for a family practice doctor. (Your ortho son would be better off financially than the family practice doc.) I used some info on PA’s on this website to do it.
I compared the salary at every age for a family practice doctor vs a PA after taking into account taxes, debt payments, and investing for retirement. I even did 2 scenarios: a financially conscious PA/doc and a not financially conscious PA/doc.
I did this because I never really knew if a PA or family practice doctor was better off financially.
Check it out if you’re still curious https://financingmedicine.com/2017/08/22/pa-vs-family-practice-doctor-financial-perspective/
Hi, Terry,
Orthopedics is much more “profitable” than general practitioners. In fact, I know some orthopedic MDs who make well over 500-600K per year. Of course, time and quality of life is a big factor here as well. Specialty orthopedic PAs can make around 125k-150k per year. If an MD works for an organization the numbers are lower but probably still in the 200-300k and you don’t have all the stress of running a practice. I also think Osteopathy is an interesting choice especially for people interested in orthopedics.
Stephen
After reading all this I’m kind of glad I did Engineering.
Cost of bachelors in Aerospace Engineering – $6000 (Loan I took out to go summer school. Rest of tuition was paid by scholarship and grant)
I have been working for 5 years now and my salary now is -$92,000
Then again not everyone goes to become a doctor for the money. They want to help people so it’s about personal preference and satisfaction at end.
I agree completely, although I know a doctor who has both his engineering degree and is an ortho spine surgeon, so I guess there is some overlap here 🙂