Currently a econ/comp sci major entering my sophomore year at a target. Until recently, I was very much set on finance, as such, I maintained a strong GPA and getting involved in more extracurricular activities. However, I recently started thinking about medicine again. My pros and cons are as follows:
Finance(S&T / IB)
* I enjoy doing fundamental work on companies and watching the markets move
* Pays well
* Lots of experience that is applicable to other areas of business
* A personal worry of mine is automation. Just from the articles I've read and people I've spoken to, headcount has been decreasing year after year. I know that certain asset classes are less susceptible to this such as distressed,HY, and structured products, but it still seems like these will be hit.
* It seems that there is an infinitesimal chance of making that seven figure salary that a Managing director makes.
* Possible layoffs if the economy downturns
* You get to help a person that is in need.
* Good salary
* Always have a job unless you mess up
* Big thing for me: depending on what you specialize in medicine, the pay can vary dramatically. The way I see it is you put in 4 yrs of undergrad, 4 yrs of med school, then a residency that could be 2-5 yrs depending on the specialty. The fact that you could be paid 200k for nearly 12 years of schooling really scares the shit out of me. Long story short: I'd have to be well compensated for hard work
- Regulation in healthcare seems to mounting up more and more. Depending where the US moves on the healthcare issue, doctors could see a drastic paycut
- Stress of having somebody's life in your hands. Can't mess up
- Gotta start pre med requirements which could add an extra semester
Why would you do finance over medicine or vice versa? What path should I take? Do you think that in general, both fields are set to fundamentally change?
Thank you for staying for my rant. Any advice would be greatly appreciated!