IB/Finance vs. Dental Specialist

Based on the most helpful WSO content, here's a breakdown of your situation:

Finance Path

1. Pros:

   • You have a strong network through your father, which is a significant advantage in breaking into finance.
   • Your passion for capital markets and deal flow aligns well with the finance industry.
   • With zero debt and financial backing, you can focus on building your career without the burden of loans.
   • While Canada may cap earning potential compared to NYC or London, there are still lucrative opportunities in niche areas like mining/resource investing, which aligns with your interests.

2. Cons:

   • Staying in Canada limits access to the highest-paying finance roles, as Bay Street salaries and bonuses are generally lower than Wall Street.
   • Achieving a $1M+ income by 35 in Canada is challenging unless you enter a highly specialized or entrepreneurial finance role (e.g., hedge funds, private equity, or starting your own firm).

Dental Specialist Path

1. Pros:

   • Orthodontists in Canada can earn $500K-$1.3M annually, with a predictable and scalable business model.
   • Your father’s willingness to finance your education and help you open practices significantly reduces risk and accelerates your path to high earnings.
   • Dentistry offers more control over your schedule and work-life balance compared to the demanding hours in finance.

2. Cons:

   • The 10-11 years of education and residency delay your earning potential significantly.
   • If finance is your true passion, you may find the dental path unfulfilling despite the financial upside.
   • Running a dental practice comes with its own risks, including competition and the challenges of managing a business.

Key Considerations

• Passion vs. Practicality: If finance genuinely excites you, the intrinsic motivation could drive you to excel, even in a less lucrative Canadian market. Conversely, if you choose dentistry purely for financial reasons, you might struggle with long-term satisfaction.
• Earning Potential: While orthodontics offers a clearer path to $1M+ income in Canada, finance could still get you there if you leverage your network and focus on high-margin niches like resource investing.
• Time Horizon: Finance allows you to start earning immediately after undergrad, whereas dentistry requires a decade-long commitment before seeing significant returns.

Recommendation

If your passion for finance is genuine and you’re willing to accept the geographic and earning limitations of staying in Canada, finance could be the better fit. Your father’s network and financial support give you a rare advantage that many aspiring financiers lack. However, if your primary goal is maximizing income with a predictable path, orthodontics is hard to beat, especially with the backing to open multiple practices.

Ultimately, weigh your passion against practicality and envision where you see yourself thriving in 10-15 years. As one WSO thread wisely puts it, "Imagine who you want to be, but more importantly, what type of person you want to be 10 years down the road."

Sources: What would you do if you were me? (Medicine vs Business), 3rd year Harvard Medical School student thinking about high finance transition- am I being realisitc?, From Dentistry to Investment Banking, Does anything pay better than finance?, From Dentistry to Investment Banking