Dilemma: Finance or Medicine, share your thoughts
I'm currently in my first year of medical school in the Netherlands. However, I don't really like medicine. Although it's interesting, that's about it. I don't see myself working in a hospital; instead, I plan to pivot toward consulting after I complete my Master's degree, and later pursue opportunities in biotech, med, or pharma companies.
Medicine is not that difficult. I’ve passed all my tests on the first try with high grades and plenty of free time, so I'm confident that I can finish the program if I choose to do so.
In my free time I'm much more interested in Finance/Stocks/Companies than medicine. And I'm thinking about studying Business Administration (Bedrijfskunde) at the Rotterdam School of Management (RSM).
But the point of contesion that keeps me in the clutches of this dilemma are the salary expectations. The salary for doctors is great at first glance, but the years (and cost) of training really change my perspective.
If I were to become a neurosurgeon (I have a better shot at winning the lottery), I would need to train for six more years—and that’s if I get directly chosen, which is almost never the case. Most candidates need to do a PhD and then get lucky, so let’s say that adds another three years. Even after all that, my starting salary would be around €70,000, rising to €120,000 per year after 10 years of experience, and as an independent, it could be as high as €248,000 (before deducting all costs, of course). In this best-case scenario, I would be 31, earning €70,000 per year.
In finance, the salary range is much broader. According to RSM, the starting salary in the Netherlands is €54,766 within six months of graduation, admittedly lower than that in medicine, but I begin working at 25 instead of 31. However, this scenario only applies if I pursue a Master's in Finance & Investments at RSM and do not move to London or the US, where my chances of earning more than a doctor would likely be higher.
I don't doubt my academic abilities, and I will do my best to graduate cum laude at RSM. Nonetheless, the competition will be fierce, and breaking into the London scene will undoubtedly be challenging.
Considering the expected compensation, years invested, competition, and job stability, which would be the better choice: finance or medicine?
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