My girlfriend's 25 yro sister made ~$107k as a nurse...

...and works 55 hour weeks with paid overtime.

...while my 26yro friend who will be graduating from Cardozo Law this May will be getting $110k as his first year and working horrible corporate law hours after spending 4 years of undergrad and 3 more years and dropping another $100k for law school... 7 years of education total

...while my genius 23yro quant friend who majored in Physics for undergrad at UPenn and now attends UC Berkeley M.S. Financial Engineering where their average starting salary is $80-120k

...while quant guys from Columbia's M.S. Financial Engineering class must labor over algorithms that none of us can understand to only make on average $120k

...while she makes more than a lot of Harvard MBAs same age as her who just paid $100k for a degree.

Her salary is publicly listed online by California laws as she is a public UC hospital taxpayer-supported employee... (i checked)

She got her nursing BSN at Binghampton nearly-fully-funded and partied her way through college and had a 3.0 GPA.

discuss.

Comments (142)

May 15, 2011

107 is less than 110 and 120. thats all that matters.

May 15, 2011
LA_Duc:

107 is less than 110 and 120. thats all that matters.

yeah but is it really better after you divide up the hours and initial investments and debt? (4 years of undergrad + 2-4 additional grad school years and another negative $100k)

Best Response
May 15, 2011

she is already near her maximum earnings potential, whilst your friends in law/finance/business could end up being millionaires or even billionaires. plus have you seen the shit nurses have to do? i would rather have corporate law eat my soul then whip the shit off some redneck's asshole.

    • 6
May 16, 2011
LLcoolJ:

she is already near her maximum earnings potential, whilst your friends in law/finance/business could end up being millionaires or even billionaires. plus have you seen the shit nurses have to do? i would rather have corporate law eat my soul then whip the shit off some redneck's asshole.

100% true

I worked as an assistant helping the nurses with some of the most vile tasks I hope I never have to have done to/for me. They loved their patients, I wanted a paycheck. Needless to say, I didn't bother with nursing school.

I'll give nurses this: their overall quality of life, at least in the first decade out of school, is far higher. I also like dating nurses, they are often very.....giving ;)

The only time I get pissed off at nurses is when they start bitching about how they don't get paid enough, and then they sound like teachers: money is not the focus of this job.

    • 1
Jan 17, 2020

My girlfriend is a nurse and I can assure you they work their ass off

    • 1
May 17, 2011
LLcoolJ:

she is already near her maximum earnings potential, whilst your friends in law/finance/business could end up being millionaires or even billionaires. plus have you seen the shit nurses have to do? i would rather have corporate law eat my soul then whip the shit off some redneck's asshole.

your friends in law can never become billionaires. neither will your friends who are nurses/doctors. end of story.

May 17, 2011
thedude:
LLcoolJ:

she is already near her maximum earnings potential, whilst your friends in law/finance/business could end up being millionaires or even billionaires. plus have you seen the shit nurses have to do? i would rather have corporate law eat my soul then whip the shit off some redneck's asshole.

your friends in law can never become billionaires. neither will your friends who are nurses/doctors. end of story.

It's a pretty safe bet that no one in this forum will be a billionaire. Billionaires (or those who become...) wouldn't waste their time.

    • 1
May 15, 2011

I never get people that obsess over starting salaries. Salary progression is the only thing that matters.

    • 2
May 15, 2011

FWIW, I got to know the ICU nurse that was assigned to my dad when he was in the hospital before he died, and she was pulling down $170,000+ a year in the ICU. She worked pretty horrendous hours, though, and was on call all the time.

May 15, 2011

My mother is a nurse, it's not an easy job. On call all the time, dealing with a lot of death, looked down on by the doctors nd patients, it sucks. I'd rather make just as much and work a few extra hours in order to not be on my feet all day, not be disrespected, and work regular hours. The sheer fact that you imply that the nurse is making too much or the algo trader is making too little shows that you look down on that profession too.

Reality hits you hard, bro...

    • 2
May 15, 2011

There are some nurses pulling in more than the doctors that they are working with. I'm not saying it is wrong, but it shows who's taking the beating over the health care issue over the past 2 decades - the doctors and no one else. Just like our president said, why should they be able to make a lexus payment? Now you know why so many doctors fall in love with their nurses.

    • 1
May 15, 2011

If shes hot, gimme her number. Ill get to the bottom of this...

I Got a dollar and a dream...

    • 1
    • 1
May 15, 2011
BankMonkey21:

If shes hot, gimme her number. Ill get to the bottom of this...

HAHA

May 15, 2011

If she is ambitious and gets her NP, she can make a ton of money. There is a shortage of GP doctors so you are seeing NP's take on more and more responsibility.

You guys obsess about ultimate maximum income way too much. 100K is a great salary. Great job security and she is unionized and in high demand. Working only 45 hours a week also. Sounds like we all fucked up.

Quality of life > $$ in salary. Hopefully you all will learn this one day.

May 15, 2011
ANT:

If she is ambitious and gets her NP, she can make a ton of money. There is a shortage of GP doctors so you are seeing NP's take on more and more responsibility.

You guys obsess about ultimate maximum income way too much. 100K is a great salary. Great job security and she is unionized and in high demand. Working only 45 hours a week also. Sounds like we all fucked up.

Quality of life > $$ in salary. Hopefully you all will learn this one day.

Yeah, but what if those 45 hours are filled with angry patients, cleaning up puke/blood/shit and being bitched at by doctors?

I would probably work more hours in an environment I would enjoy a little more. My mom, sister and numerous friends are nurses and they mostly enjoy their work (or so they say), but they bitch non-stop about running around all day and enduring the things I listed above.

Regards

May 18, 2011
ANT:

If she is ambitious and gets her NP, she can make a ton of money. There is a shortage of GP doctors so you are seeing NP's take on more and more responsibility.

You guys obsess about ultimate maximum income way too much. 100K is a great salary. Great job security and she is unionized and in high demand. Working only 45 hours a week also. Sounds like we all fucked up.

Quality of life > $$ in salary. Hopefully you all will learn this one day.

Would you care to reconcile your support of unionized nurses with statements such as:

ANT:

Wisconsin is the flash point. The enemy has show itself. That enemy is called the public service unions.

ANT:

I love how little teachers care about the kids. Just close school because we can't collectively bargain. These people don't deserve to be teachers at all. Scumbags, all of them.

ANT:

Unions need to be broken. Could someone please tell me what injustice, harsh working condition or unfair labor practice is being committed to these poor teachers and government workers? Unionizing was great back in the day. Now a bunch of paper pushers have realize the power of the mob and have unionized. This isn't some miner dying of exhaustion from a 16 hour day. No need for these guys to collectively bargain.

May 15, 2011

Nurses with just their RN from an online school can pull down ~90 as a couple of the ones I worked with in UG did it.

Down side it you have to be a fucking nurse. If you want to see real money with little in the way of intellect or schooling, check out device reps for medical devices. They work like 30 hours a week and absolutely kill it.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

May 15, 2011
happypantsmcgee:

Nurses with just their RN from an online school can pull down ~90 as a couple of the ones I worked with in UG did it.

Down side it you have to be a fucking nurse. If you want to see real money with little in the way of intellect or schooling, check out device reps for medical devices. They work like 30 hours a week and absolutely kill it.

Don't you have to be really hot to get a job as a pharma rep?

  • gnicholas
  •  May 15, 2011
happypantsmcgee:

If you want to see real money with little in the way of intellect or schooling, check out device reps for medical devices. They work like 30 hours a week and absolutely kill it.

Wasn't that what Will Smith did at the start of Pursuit of Happyness?

May 15, 2011
gnicholas:
happypantsmcgee:

If you want to see real money with little in the way of intellect or schooling, check out device reps for medical devices. They work like 30 hours a week and absolutely kill it.

Wasn't that what Will Smith did at the start of Pursuit of Happyness?

Exactly, and look how that turned out. The movie grossed $300m and he probably pulled in ~$20m.

    • 2
May 17, 2011
happypantsmcgee:

Nurses with just their RN from an online school can pull down ~90 as a couple of the ones I worked with in UG did it.

Down side it you have to be a fucking nurse. If you want to see real money with little in the way of intellect or schooling, check out device reps for medical devices. They work like 30 hours a week and absolutely kill it.

^^This. Medical sales is ludicrous. A girl i went to high school with who is clinically brain dead sells dialysis equipment for Davita and is now pulling in upwards of 60k base with +25% target sales incentives of half her base, meaning if sales goals are doubled, she rakes 120k in bonuses. P.S. If you want to get your knob slobbed by a hard 10, take the time to attend a medical sales conference. Its a prerequisite that you be attractive to work in the field, i swear.

Here's the thing. If you can't spot the sucker in the first half hour at the table, you are the sucker.

May 17, 2011
bullbythehorns:
happypantsmcgee:

Nurses with just their RN from an online school can pull down ~90 as a couple of the ones I worked with in UG did it.

Down side it you have to be a fucking nurse. If you want to see real money with little in the way of intellect or schooling, check out device reps for medical devices. They work like 30 hours a week and absolutely kill it.

^^This. Medical sales is ludicrous. A girl i went to high school with who is clinically brain dead sells dialysis equipment for Davita and is now pulling in upwards of 60k base with +25% target sales incentives of half her base, meaning if sales goals are doubled, she rakes 120k in bonuses. P.S. If you want to get your knob slobbed by a hard 10, take the time to attend a medical sales conference. Its a prerequisite that you be attractive to work in the field, i swear.

This...my mom is a pharmacist...has pictures with some of her fav sales people all dimes.

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

May 15, 2011

Nursing is a pretty good gig. You can work anywhere in the world, job security is fantastic, and pay is reasonable. If I was a good looking female neonatal nursing would probably be my career of choice.

Off topic, I've dated 2 nurses and they were the best. I fucking love nurses.

Jan 17, 2020

My GF of 5 years is a nurse and hell yeah nurses are the bomb

May 15, 2011

My mom banked 120k gross, 80 net in NY. She turned 50 last month, she usually works 3-4 day a week 12 hour shifts. Like others said before me, earnings ceiling is not that high.

May 15, 2011

Dude, it sounds like you are shitting on nurses. I hope that is not really the case. The moment one of your family members is in the hospital I don't think you'll be complaining about her salary too much.

The other people, in all honesty, add no value whatsoever to society. At least nurses get paid for the value they add, not because they can take advantage of an inefficient system like a Quant.

Your "stipulation" about getting paid more than a Harvard MBA sounds like you think that dropping money on a degree guarantees you the right to a higher salary. That isn't the point of education at all. Education is to enhance the mind, not some scheme to make more money (although I guess that is what it turned in to). Just because someone could afford an education does not guarantee that they should make more money than anyone else.

Nurses work hard. This girl deserves it. It isn't an easy job by any means. I love how people on here think that working in finance means you work harder than everyone else in the world. That is not the case at all.

    • 3
May 15, 2011

Libor, please get real, everyone knows modeling in excel is more rewarding than helping to save a life.

May 15, 2011
ANT:

Libor, please get real, everyone knows modeling in excel is more rewarding than helping to save a life.

+1 and +2 to libor

May 15, 2011

Her pay is going to max out around 120k in a few years. When that happens every one else's salary will begin to explode since their jobs have more growth potential.

May 15, 2011

Having driven ambulances and loaded up people in real bad states for very low pay I can say that I would need a lot more than 100k to do that for the rest of my life. Being a hospital nurse and wiping peoples bloody pink socks would probably make me insane. There is a lot more camaraderie in this sort of work, but I know that nurses/doctors/emts etc getting off duty tend to have a much more shell-shocked look on their face on the regular than a FS industry person after 60 hours straight in the office meeting a deadline.

Still not sure if I want to spend the next 30+ years grinding away in corporate finance and the WSO dream chase or look to have enough passive income to live simply and work minimally.

May 15, 2011

As a doctor, I can tell you that nurses deserve twice what they are paid (and so do doctors). In defense of the medical profession, we never lose our jobs and many docs are able to start businesses that put their annual pre-tax gross income in 7 figures (imaging centers, ambulatory surgical centers, pharm consulting, high volume expert testimony, elective procedures, etc...). Many people in medicine don't care to do this though and are happy to work shift-work and get paid there salary and have a better lifestyle. It is obvious that in a finance forum that you guys only believe that finance leads to 7 figure pay. Simply not the case. In addition, perhaps the most important part is that those in medicine will not lose their job. The loss of a job has the same psychological impact as a death in the family (yes, this is by-in-large true), so it is not something to take lightly.

May 15, 2011
NDoc123:

As a doctor, I can tell you that nurses deserve twice what they are paid (and so do doctors). In defense of the medical profession, we never lose our jobs and many docs are able to start businesses that put their annual pre-tax gross income in 7 figures (imaging centers, ambulatory surgical centers, pharm consulting, high volume expert testimony, elective procedures, etc...). Many people in medicine don't care to do this though and are happy to work shift-work and get paid there salary and have a better lifestyle. It is obvious that in a finance forum that you guys only believe that finance leads to 7 figure pay. Simply not the case. In addition, perhaps the most important part is that those in medicine will not lose their job. The loss of a job has the same psychological impact as a death in the family (yes, this is by-in-large true), so it is not something to take lightly.

Ehhh, I don't know about all that... as a banker, it might be a stressful job but its not emotionally taxing in the same way that it is when you have a patients you're doing all you can to help but he/she will inevitably die because whatever you did still wasn't enough.

And while you may not have the same employment volatility you do have a gigantic malpractice axe hanging over your head every single day.

May 15, 2011
Marcus_Halberstram:
NDoc123:

As a doctor, I can tell you that nurses deserve twice what they are paid (and so do doctors). In defense of the medical profession, we never lose our jobs and many docs are able to start businesses that put their annual pre-tax gross income in 7 figures (imaging centers, ambulatory surgical centers, pharm consulting, high volume expert testimony, elective procedures, etc...). Many people in medicine don't care to do this though and are happy to work shift-work and get paid there salary and have a better lifestyle. It is obvious that in a finance forum that you guys only believe that finance leads to 7 figure pay. Simply not the case. In addition, perhaps the most important part is that those in medicine will not lose their job. The loss of a job has the same psychological impact as a death in the family (yes, this is by-in-large true), so it is not something to take lightly.

Ehhh, I don't know about all that... as a banker, it might be a stressful job but its not emotionally taxing in the same way that it is when you have a patients you're doing all you can to help but he/she will inevitably die because whatever you did still wasn't enough.

And while you may not have the same employment volatility you do have a gigantic malpractice axe hanging over your head every single day.

The malpractice issue is a real one but must be put into some context. In short, malpractice is a huge problem because it requires time and some resources to address. Most cases are BS and are thrown out immediately. For the cases that are decided in favor of the plaintiff, the award is almost always covered by the doctor's insurance (malpractice insurance). Rates may or may not go up after this - case by case. Rarely do judges go after the doctor's personal money. And even if they do, these cases are appealed and the reward is adjusted to match the maximum malpractice insurance payout. But you're right, there is a huge emotional component for the doctor in a malpractice case. The financial component is usually not the issue.

May 16, 2011
NDoc123:

As a doctor, I can tell you that nurses deserve twice what they are paid (and so do doctors). In defense of the medical profession, we never lose our jobs and many docs are able to start businesses that put their annual pre-tax gross income in 7 figures (imaging centers, ambulatory surgical centers, pharm consulting, high volume expert testimony, elective procedures, etc...). Many people in medicine don't care to do this though and are happy to work shift-work and get paid there salary and have a better lifestyle. It is obvious that in a finance forum that you guys only believe that finance leads to 7 figure pay. Simply not the case. In addition, perhaps the most important part is that those in medicine will not lose their job. The loss of a job has the same psychological impact as a death in the family (yes, this is by-in-large true), so it is not something to take lightly.

lol no doctor and nurses do not deserve twice there pay

the only reason why you are currently over paid is due to a monopoly the med schools created, it is only a matter of time until that shit gets taken out

the only people who deserve high pay in the medical field are researchers they do more for your client then you do
so please get this "im a doctor i deserve more pay than you bc i saved some ones life" bs out your head

May 15, 2011

As a nurse you're in a pretty fucking depressing environment... old people dying, sick little kids, etc... add to that the fact that you're in a pretty high stress enviornment, likely work shitty shifts, and go home smelling like death every day...

You've also likely realized 80% of your earnings potential. Lets be generous, even a nurse that makes $200K at her peak, that makes 107 her first year out... she made about .5x her maximum earnings potential. As an analyst in banking you'll make 120K your first year with your max earning potential being in the millions of dollars, call it $2M... so you made 0.055x your max earnings potential... considerably different. Put in other words a banking analyst, as an MD will make what he made in a full year as an analyst in about 15 work days.

Also in banking, you're only figuritively getting pissed on, shit on and puked all over... while as a nurse those terms have a whole other meaning.

May 15, 2011

The only real question is, is she hot? Do you have pictures?

May 15, 2011

All these assumptions about pay are based on staying in finance for the duration of your life. Many people do two years and go PE, but many do 2 years and go into other careers. Making 200k a year with job security is pretty fucking amazing.

May 15, 2011
ANT:

All these assumptions about pay are based on staying in finance for the duration of your life. Many people do two years and go PE, but many do 2 years and go into other careers. Making 200k a year with job security is pretty fucking amazing.

THIS. Marcus makes a good point about future earnings as an MD, but no one ever gets there (or few enough get there as to render the statistic insignificant relative to the number who start in banking). Being pissed at, shat near, or puked upon is not my idea of a good time, but my sister has been a nurse for 30+ years now (labor and delivery, so her particular discipline isn't nearly as depressing as ER or something like that) and she still loves it.

There are certainly far more old nurses than there are old bankers.

May 16, 2011
Edmundo Braverman:

...There are certainly far more old nurses than there are old bankers.

Isn't this because all the bankers are rich and retired?!?! LOL.

Regards

May 15, 2011

What are the exit ops like in nursing? Would a CFA or an MBA be more beneficial if I wanted to pursue this field?

May 15, 2011

^^ but all jokes aside, nurses do work hard, and the ones that usually pull in some serious bank like ER nurses are quite highly educated too, and getting into top nursing programs is quite competitive from what some of my friends have told me.

May 15, 2011

I remember a couple years ago a local paper in my hometown published a list of the 10 highest payed county employees (Cook County so that's Chicago + a chunk of the north shore/west burbs.)

The highest paid county worker was some nurse who worked a shit ton of overtime. It was crazy, she made more than Daley, more than the county treasurer, more than Chicago's police chief. Nurses can definitely make bank.

May 15, 2011

Yeah, and they get their tuition paid for. Plus they can become travel nurses and do all kinds of stuff. Exit ops? How about becoming a nurse practitioner and basically being a junior doctor. No piss or shit. Back home the NP was the only one i ever saw.

Boys, there are many ways to skin a cat. Imagine making 100k and not living in NYC. That's 5 series, rolex and a sick house, with money to spare. 9-5, 5 days a week. That's what i call winning. Plus you could do in home stuff for older people on the side as your own private business. Be a good manager and hire some of your friends. Now your basically a nurse pimp making 5-10% off the top.

May 16, 2011

Being a good nurse requires a particular mentality/personality type, but if you have it, the career can be quite rewarding and does pay well. Nurses (and doctors) earn every penny imo. There may be a lot of problems with our healthcare system, but compensation levels of nurses and doctors are not among them.

May 16, 2011

107K and 45 hours a week? Dude that's fucking awesome.

Still I Rise

May 16, 2011

lol... but there's kind of a ceiling as a nurse vs. a lawyer.... a nurse is never going to make more than like 150 and a lawyer at a solid firm will hit 400k-1m as a parter at the age of 40+... not to mention the quant who could easily earn way more than that if he has a successful career

May 16, 2011
International Pymp:

lol... but there's kind of a ceiling as a nurse vs. a lawyer.... a nurse is never going to make more than like 150

haha what?

Look, International Pymp, I know you probably didn't hav much exposure to nurses in Nantucket or whatever but if a nurse continues her education, she can eventually get a position as a CNO or other executive type position and beat that 150 if they are so inclined.

Before anyone dismisses this, the odds of someone making partner in big law are just as low and making it into the hierarchy as a nurse.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

May 18, 2011
happypantsmcgee:
International Pymp:

lol... but there's kind of a ceiling as a nurse vs. a lawyer.... a nurse is never going to make more than like 150

haha what?

Look, International Pymp, I know you probably didn't hav much exposure to nurses in Nantucket or whatever but if a nurse continues her education, she can eventually get a position as a CNO or other executive type position and beat that 150 if they are so inclined.

Before anyone dismisses this, the odds of someone making partner in big law are just as low and making it into the hierarchy as a nurse.

Exactly. People don't give nurse's earning potential enough credit. Same goes for truck driving. You could be a truck driver and work your way up to being the CEO of a major global trucking corporation and make several millions of dollars a year. Same goes for garbage men and UPS delivery men.

May 16, 2011

oh and nurses are for people that wern't smart enough, or to lazy to become doctors

May 16, 2011
blastoise:

oh and nurses are for people that wern't smart enough, or to lazy to become doctors

Life is too easy for you blastoise. I take it you probably don't have kids and may even be single. Regardless, if you've ever cared about someone in the prime or early stages of life who has required medical help, I can assure you your opinion would be different.

May 16, 2011
blastoise:

oh and nurses are for people that wern't smart enough, or to lazy to become doctors

haha most value-added comment in this thread

Jan 17, 2020

You are pretty stupid. A lot of nurses know almost as much as some doctors know (depending on the type of doctor). Doctors also work a shit load of hours and have to go to years and years of school.. You are pretty dumb for assuming shit you don't know

May 16, 2011

Or you could make 500k at 25 working 45 hrs a week instead.

Next.

May 16, 2011

medical is the back up to finance. you people who are like omg so low pay... a nurse anesthetist can make 170 easy in a low cost of living area and shit all over your hermes ties and have a bigger house and better QOL

May 16, 2011
shorttheworld:

medical is the back up to finance. you people who are like omg so low pay... a nurse anesthetist can make 170 easy in a low cost of living area and shit all over your hermes ties and have a bigger house and better QOL

Yep, a family member does this, and honestly: I do get jealous of them sometimes.

May 16, 2011
UFOinsider:
shorttheworld:

medical is the back up to finance. you people who are like omg so low pay... a nurse anesthetist can make 170 easy in a low cost of living area and shit all over your hermes ties and have a bigger house and better QOL

Yep, a family member does this, and honestly: I do get jealous of them sometimes.

Agreed lol, I visited family in the midwest recently and they probably make around 150k total (1 doctor) but they live in a house that would cost a few million on the east coast.

May 16, 2011

Coming from someone who has a lot of doctors in his family, it's a pretty good lifestyle. I mean sure the work can get stressful but like anything else you get use to it. The pros are definitely job stability (always a market), good pay, even good hours (love my Dad's sched, he works one week and takes the next week off but that means 80+ hours in one week). The negatives are definitely (as far as I can see) you have to study your whole life--I mean my parents probably study more than me and to a certain extent, probably 99% of doctors won't ever make over a million or two million a year (so there isn't that much advancement unless you actually run it like a practice/business).

May 16, 2011

the thing about nursing is it has a small salary band when you consider the starting pay. Most nurses will barely double the salary in todays money by the end of their career. While IB, if you stay with it till you retire, will likely be making 10 to 20 times their starting pay before partner earnings.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

May 16, 2011

Like most in here have said, being in the $100k's is around the top of her salary-potential.

What I was most floored by recently was how much a doctor was making. Yes he want to 4yrs med school and another 4yrs residency, but still: anesthesiologist, starting salary anywhere between $350k and $550k by the time he's 31...and that's serious money for that age...at least it's somewhat "guaranteed" as long as you pass your tests, etc.

And, here's the real kicker, few years into it he got the idea of opening up his own Spine/Pain center. Cost him $1.5M, he hired a Nurse Practitioner to see daily patients and a clinic manager and he only does surgeries now...works 35hrs a week, is his own boss, is fully insured against lawsuits, and makes...... $100k PER MONTH!

He's thinking about opening up another surgery center now and hiring a person like himself do to surgeries....might make an extra $500k per year just by duplicating the model even if the 2nd surgery center is not as successful as this one.

Of course we can all tell stories of people who hit it big....but this guy didn't have to be lucky, he didn't have to network super-hard or kiss ass, he didn't have to come up with a genius idea or anything like that. All he had to do was follow a pre-determined path, although a very difficult one. That's why I think what he makes is amazing, it's a set formula, anyone can do it...as long as your smart enough (I would say most in here are), are willing to work hard enough (most in here will if they are looking at i-banking), and are willing to delay any monetary satisfaction til their in their 30s (don't think most in here want to delay earning big bucks for that long...even though it's not really that long).

Oh and finally, this is just in a suburban area, he built a new high-end 8k sqft house for only $1.8M, probably already paid-off, drives new cars, has tons of free time which he devotes to church and his kids' extracurriculars.

Man...makes me want to go med-school! But with my luck, by the time I'm a doc, this profession won't be making that much money anymore, lol.

May 18, 2011
nanotech:

Like most in here have said, being in the $100k's is around the top of her salary-potential.

What I was most floored by recently was how much a doctor was making. Yes he want to 4yrs med school and another 4yrs residency, but still: anesthesiologist, starting salary anywhere between $350k and $550k by the time he's 31...and that's serious money for that age...at least it's somewhat "guaranteed" as long as you pass your tests, etc.

And, here's the real kicker, few years into it he got the idea of opening up his own Spine/Pain center. Cost him $1.5M, he hired a Nurse Practitioner to see daily patients and a clinic manager and he only does surgeries now...works 35hrs a week, is his own boss, is fully insured against lawsuits, and makes...... $100k PER MONTH!

He's thinking about opening up another surgery center now and hiring a person like himself do to surgeries....might make an extra $500k per year just by duplicating the model even if the 2nd surgery center is not as successful as this one.

Of course we can all tell stories of people who hit it big....but this guy didn't have to be lucky, he didn't have to network super-hard or kiss ass, he didn't have to come up with a genius idea or anything like that. All he had to do was follow a pre-determined path, although a very difficult one. That's why I think what he makes is amazing, it's a set formula, anyone can do it...as long as your smart enough (I would say most in here are), are willing to work hard enough (most in here will if they are looking at i-banking), and are willing to delay any monetary satisfaction til their in their 30s (don't think most in here want to delay earning big bucks for that long...even though it's not really that long).

Oh and finally, this is just in a suburban area, he built a new high-end 8k sqft house for only $1.8M, probably already paid-off, drives new cars, has tons of free time which he devotes to church and his kids' extracurriculars.

Man...makes me want to go med-school! But with my luck, by the time I'm a doc, this profession won't be making that much money anymore, lol.

Ah...yes. The Anesthesiologist lifestyle. It's a great lifestyle especially if you go private. My uncle is an anesthesiologist for a private practice in the Chicagoland area. I agree, he gets paid top dollar but you are overlooking a lot of things. The mounds of debt one amasses for those 8 years plus any specialization. Secondly, there are very, very few who even make it to specializing. Even after specializing, there are very few who go private. Lastly, the academic rigors of medical school plus any specialization is extremely difficult. It's a set curriculum for maybe the M1 and M2 but after that you are constantly learning for life. It will take a lot more than smarts to get to that position they are, let alone become a doctor. Mad props to those who make it.

As for the nurse thing, my mother has been working at Cook County/John Stroger Hospital for 32 years now as a SICU nurse. During the 90's when overtime was abundant and the economy was great she was pulling in 150k a week on 12 hour shifts. Today, its around 80k to 100k as Cook County has cut overtime hours. It's grueling, its tough, and I can see the toll its taken on her over the years. Not an easy job. I couldn't do it. I don't know how she loves it but that's why people do what they do - it's never really about the money. And quite frankly we do need more doctors and nurses.

... but to each his/her own. I'm in finance and I'm happy with what I'm doing and getting.

May 16, 2011

Sure, but there are plenty of opportunities for a nurse to move into management at a hospital.

Going from an entry level nurse to an experienced nurse is like going from analyst to VP. There is no guarantee in the world of banking careers that you'll get promoted beyond VP. Meanwhile, the VP is still working 1.5x the hours of the experienced nurse and earning NYC pay rather than Minneapolis pay.

Beyond that, hospital administrators do bring in serious coin. CC: Michelle Obama, Seattle Sutton, and zillions of authors. Successful nurses who move into management do make good money and often start businesses. The thing is that they work about half as hard as bankers.

May 16, 2011

I love how people piss on 100k as if the majority of people here are going to make millions working for someone else. Hahaha

May 17, 2011
ANT:

I love how people piss on 100k as if the majority of people here are going to make millions working for someone else. Hahaha

Couldn't agree more. The people in this thread who are shitting on people making $100K have no concept of saving money.

May 16, 2011

Exactly. There is no guarantee that you'll make it past VP. Heck, there's no guarantee you'll even make it to VP with all of the layoffs going on in this shrinking industry. Very few people who started banking with the intent of making it to Partner/MD twenty years ago even make it to SVP, and that was when the industry was still growing.

Kids, if you're in it for the money, don't do banking. If you're in it because you like watching the accruals and cash pile up; if you thought Ebenezer Scrooge was an idiot for not trying to get a copy of the WSJ when he visited the future; if you liked playing Monopoly as a kid; ok, there's probably a place for you here. But if you want to make money, there are probably just as good ways to do it that you might enjoy more. Focus on doing what you enjoy and the cash will follow.

May 16, 2011

sorry boys..the nurse wins, and not only wins but warlock pwns.

ib lives are absolutely pathetic, and nothing to be proud of. nobody gives a shit about some idiotic scenario analysis where the upside for a banker is $55M a year, and that of a nurse is 200K
in banking and s&t you have no job security, constant fear, insanely nervewracking days...
ill say, trading is maybe worth it as a smash and grab, but thats it. Ibanking isint worth it for a second. i would not switch into Ibanking for any amount of money under 3million a year. i cant think a more un-glorious, sad existence....
this forum is so full of shia laboeufs i wanna puke. like 12 year old wanna be gangsta kids....who have no idea what its really like on the other side...but love to glorify it
95% of ppl here will never even see $100K.

do what you fucking love monkeys.

May 17, 2011
Batrick Pateman:

sorry boys..the nurse wins, and not only wins but warlock pwns.

ib lives are absolutely pathetic, and nothing to be proud of. nobody gives a shit about some idiotic scenario analysis where the upside for a banker is $55M a year, and that of a nurse is 200K
in banking and s&t you have no job security, constant fear, insanely nervewracking days...
ill say, trading is maybe worth it as a smash and grab, but thats it. Ibanking isint worth it for a second. i would not switch into Ibanking for any amount of money under 3million a year. i cant think a more un-glorious, sad existence....
this forum is so full of shia laboeufs i wanna puke. like 12 year old wanna be gangsta kids....who have no idea what its really like on the other side...but love to glorify it
95% of ppl here will never even see $100K.

do what you fucking love monkeys.

someone is angry about working in OPs.

May 16, 2011

silver banana for the two posts above me, Fucking priceless posts there; made my day haha.

May 17, 2011

Okay reading this thread makes me realize why US healthcare is the most expensive and least efficient in the world, thats some insane salaries for doctors/nurses(relative to europe, where I feel they are underpaid for what they do).

I know ALOT of european doctors/nurses and pay is a fraction of what people are throwing around here.

Atleast the US still rewards saving lifes and helping people adequately.

However when doing your cost of living estimates you can't just go like 100k in middle of nowhere equates 400k in NYC. Yeah in raw PPP terms maybe, but you do have the added downside of living in the middle of nowhere rather than NYC.

May 17, 2011

My mom was a pharmaceutical sales rep. Was even one of the biggest regional salespeople for a major firm (think Eli Lilly) in the '80s. At least 25 years ago, it was nothing like this. You had to be at least as attractive as most flight attendants and have a bachelor's in Chemistry, Biology, or a medical field like Pharmacy or Nursing. You had to follow sports, be able to carry on a conversation that would be interesting with a 150 IQ doctor, you had to be nice, and you had to have a good product to sell. It was pretty darned simple. If you've got a good medication- there was a lot of really good pharmaceuticals development in the '70s and 80s, the darned thing sells itself.

The real secret was treating the nurses, receptionists, and PAs really nicely. Have a conversation with them first- bring in sandwiches for the office once or twice- make friends with them- and they made sure you always got to see the doctor relatively efficiently if he was willing to see you. Mom spent more of her war chest on receptionists and nurses than doctors. You visit a big hospital like Evanston Northwestern, speak with 25 cardiologists on the same day, you're the only salesperson at the office who talks up the support staff, the nurses and PAs are all lobbying for you even when you're not there "uhoh doctor- we're out of those samples, but didn't IndianaSaleslady drop off a bunch of hers'? I think it's in the top cabinet.", and you ultimately get a lot more prescriptions written that way- ASSUMING your product is just as good as Merck's or Abbott's.

May 17, 2011

Mmmm, if they invent the next medical device, it could happen pretty easily. Saulk could have become a billionaire- or at least a nine figure guy back in the '50s with the Polio vaccine; he chose not to patent it and made it freely available to the country.

May 17, 2011
IlliniProgrammer:

Mmmm, if they invent the next medical device, it could happen pretty easily. Saulk could have become a billionaire- or at least a nine figure guy back in the '50s with the Polio vaccine; he chose not to patent it and made it freely available to the country.

http://www.forbes.com/wealth/forbes-400/list
please tell me how many people on this list are MD's then tell me how many of those are billionaires because they are MD's then stfu

May 17, 2011

then repeat with JD's, and are billionaires because they are JD's, arrive at the number 0

May 17, 2011
thedude:

then repeat with JD's, and are billionaires because they are JD's, arrive at the number 0

Just did a look at the top 50 because I don't want to waste too much time with this. Dr. Soon-Shiong (No. 46), has an MD. Carl Icahn also did two years of med school at NYU.

May 17, 2011

Because they are doctors. Carl Icahn really got made his billions through his MD? C'mon guy. It's a great way to work hard and die with a $4-20 million dollar net worth. It's not worth much more then that.

May 17, 2011

What do you think you'll really reach as an investment banker in terms of net worth?

May 17, 2011

I mean the $20m is the absolute max end. I'd say the vast majority of doctors die <$5m... because doctors are notoriously poor at handling money. If I commit my entire life to finance I plan on dieing with a larger then $5m net worth.

May 17, 2011
thedude:

I mean the $20m is the absolute max end. I'd say the vast majority of doctors die <$5m... because doctors are notoriously poor at handling money. If I commit my entire life to finance I plan on dieing with a larger then $5m net worth.

Not sure where you're pulling these numbers from. But OK, good luck.

May 17, 2011
NDoc123:
thedude:

I mean the $20m is the absolute max end. I'd say the vast majority of doctors die <$5m... because doctors are notoriously poor at handling money. If I commit my entire life to finance I plan on dieing with a larger then $5m net worth.

Not sure where you're pulling these numbers from. But OK, good luck.

Take the average salary of a doctor in the US, multiply it time 25-30, subtract out how much you think they blow a year on sport fishing boats and their wifes lexus suv and its pretty obvious they don't make that much. Take the average salary of a bb banker in nyc, multiply it times 25-30.

or screw averages and say, you take doctors and take the top 1% and you have plastic surgeons making $1.3 million a year, then take bankers a pick a number but I know its a lot higher then that...

or more accurately calculate in that top doctors get to do what? keep being top doctors and top people at ibanks get to go off and work and run PEs and HF's and are the highest compensated people in the World.

Being a doctor or a lawyer is a great way to be wealthy, but you will never be rich.

May 17, 2011

Shrug. It's all about priorities. Do you want to help make sick people better or do you enjoy playing monopoly all day long. Me personally, I play monopoly, but the bottom line is that folks will remember Saulk, Koch, even Annie Sullivan long after they've forgotten about Carl Icahn and Micheal Milken. If doctors and medical professionals were as good at charging for their services as bankers, they'd probably make just as much if not more.

May 17, 2011

Lets get one thing straight: 95% of you will never see that first million. So after saying that I ask you why are all taking like your guaranteed to be someday getting 30 million dollar pay checks.

Also the guys who are making multi millions of dollars are more than likely between ages of 40- 70 ( there may be some in their late 30s but its rare) and you have pretty much thrown away your 10 years of your life so you can MAYBE make a million dollars some day. Unless you do make the very top 5% the risk reward is just not worth it. And this being a financial forum you all should understand that.

You could make the argument that doctors (pay wise) are in the same ballpark but at least they get to go home after working for 10 hours knowing that they actually contributed something to society.

May 17, 2011
Freshcut:

Lets get one thing straight: 95% of you will never see that first million. So after saying that I ask you why are all taking like your guaranteed to be someday getting 30 million dollar pay checks.

I disagree with this. In order to have a middle class $40K/year retirement, you need $1 million in assets. Unless you are counting on massive deflation, most folks on here will see $1 million. $5 million? That may be more of a stretch.

You could make the argument that doctors (pay wise) are in the same ballpark but at least they get to go home after working for 10 hours knowing that they actually contributed something to society.

Bingo. Emphasis on 10 hours and contributed.

May 17, 2011
IlliniProgrammer][quote=Freshcut:

Lets get one thing straight: 95% of you will never see that first million. So after saying that I ask you why are all taking like your guaranteed to be someday getting 30 million dollar pay checks.

I disagree with this. In order to have a middle class $40K/year retirement, you need $1 million in assets. Unless you are counting on massive deflation, most folks on here will see $1 million. $5 million? That may be more of a stretch.

Illini

Are we talking retirement because I took it we were just talking about the amount you could build up while you were still on the job. If we are talking retirement you are right. You need probably could see more than 1 million having a finance job. But then again if that nurse begins to save up now she also could easily see the million dollars by retirement to.

But if we are just talking paycheck to paycheck I really wouldn't be expecting to be receiving million dollar checks every year just because you are a banker.

May 17, 2011
Freshcut:

Lets get one thing straight: 95% of you will never see that first million. So after saying that I ask you why are all taking like your guaranteed to be someday getting 30 million dollar pay checks.

Also the guys who are making multi millions of dollars are more than likely between ages of 40- 70 ( there may be some in their late 30s but its rare) and you have pretty much thrown away your 10 years of your life so you can MAYBE make a million dollars some day. Unless you do make the very top 5% the risk reward is just not worth it. And this being a financial forum you all should understand that.

You could make the argument that doctors (pay wise) are in the same ballpark but at least they get to go home after working for 10 hours knowing that they actually contributed something to society.

Exactly my point, thanks. It is very very far from guaranteed that just because you are in finance, you will make over $1M/year. Even more so these days given how oversaturated the financial industry is and the fact that it is contracting, rather than expanding.

May 17, 2011

Damn. I only clicked on this thread because I thought it was going to say "my girlfriend's 25 yro sister made out with me"

May 17, 2011
reddog23:

Damn. I only clicked on this thread because I thought it was going to say "my girlfriend's 25 yro sister made out with me"

Same.

May 18, 2011

It's ridiculous to even compare finance to nursing. As someone who has done both let me tell you about the medical field vs. finance. Nursing is essentially one step above slavery you work non stop for 13+ hr shifts and depending on where you live make anywhere from 240-600 a shift (midwest vs. california). There are sweet gigs all over but if you work as a floor nurse the pinnacle is 150k including overtime. I've met few nurses who make this. Now if you specialize and get more schooling like nurse anesthetists you can make $300-$400k but which is pretty crazy. I know several at this level. The one doctor on this forum was right they can make a ton of money and anyone who says otherwise is full of it. Schooling sucks and is tough but if you get into the right specialty and have any business sense (which most don't) you should make minimum $500k with potential $1-10 million or more. Sounds crazy look up doctors who own multiple practices, own hospitals, surgery centers, pain clinics, or have there own products. they're tons of different opportunities. Now I'm in management at a healthcare company and travel around all the time. I meet with corporations on health programs and have a pretty sweet gig. I always talk to people about salary because I find it interesting. To many people on here care about the first, second, or third year salary. This should have no effect on your choices. Pick something with potential. If you want to be average and work hard you can make 1+ million within 10 years in finance. If you work your butt off and are likeable you will earn the kind of money that most on here can't comprehend. To give you an example I met with a company from new york and I was training the personal health coach to a 34 year old female hedge fund manager had just got a $54 million payday(she didn't own the hedge fund but was a portfolio manager who had a big year. Does this happen all the time no but, it does happen. Sorry to ramble but stop posting about what first years make because you can't compare a first year to RN. Compare in 10 yrs when the RN is still at 100k and the banker gets $2 million. Sorry to ramble

May 18, 2011
midwest titan:

It's ridiculous to even compare finance to nursing. As someone who has done both let me tell you about the medical field vs. finance. Nursing is essentially one step above slavery you work non stop for 13+ hr shifts and depending on where you live make anywhere from 240-600 a shift (midwest vs. california). There are sweet gigs all over but if you work as a floor nurse the pinnacle is 150k including overtime. I've met few nurses who make this. Now if you specialize and get more schooling like nurse anesthetists you can make $300-$400k but which is pretty crazy. I know several at this level. The one doctor on this forum was right they can make a ton of money and anyone who says otherwise is full of it. Schooling sucks and is tough but if you get into the right specialty and have any business sense (which most don't) you should make minimum $500k with potential $1-10 million or more. Sounds crazy look up doctors who own multiple practices, own hospitals, surgery centers, pain clinics, or have there own products. they're tons of different opportunities. Now I'm in management at a healthcare company and travel around all the time. I meet with corporations on health programs and have a pretty sweet gig. I always talk to people about salary because I find it interesting. To many people on here care about the first, second, or third year salary. This should have no effect on your choices. Pick something with potential. If you want to be average and work hard you can make 1+ million within 10 years in finance. If you work your butt off and are likeable you will earn the kind of money that most on here can't comprehend. To give you an example I met with a company from new york and I was training the personal health coach to a 34 year old female hedge fund manager had just got a $54 million payday(she didn't own the hedge fund but was a portfolio manager who had a big year. Does this happen all the time no but, it does happen. Sorry to ramble but stop posting about what first years make because you can't compare a first year to RN. Compare in 10 yrs when the RN is still at 100k and the banker gets $2 million. Sorry to ramble

There is so much wrong with this.

1) It's like slavery? Oh really? It must be the only profession where that is true.

2) What banker makes 2 mil after 10 years? Those are obviously outliers.

3) A FT nurse can work 3 12 hour shifts and be considered full time. Include 2 more 12 hour shifts. and thats 60 hours a week. Hardly slave labor and that gives you at least 20 hours of time and a half.

4) Stop talking about Hedge Fund 'owners' or managers in Comp Conversations. It makes you look like someone from Reddit.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

May 18, 2011

apparently if doctors own pain clinics they can make 5 million a year... they can also apparently go to prison. say what you want about banking but that is a fucking dirty business.

    • 1
May 18, 2011

1) It's like slavery? Oh really? It must be the only profession where that is true.

2) What banker makes 2 mil after 10 years? Those are obviously outliers.

3) A FT nurse can work 3 12 hour shifts and be considered full time. Include 2 more 12 hour shifts. and thats 60 hours a week. Hardly slave labor and that gives you at least 20 hours of time and a half.

4) Stop talking about Hedge Fund 'owners' or managers in Comp Conversations. It makes you look like someone from Reddit.

Probably the dumbest most ignorant post in WSO history. You obviously have never worked in nursing or banking and probably are unemployed judging by your lack of reality on life. I'll talk about the reality of things because thats what people on here need. If you don't know there are bankers making $2 million after 10 years your on crack and go work 60 hours a week in nursing then get back to me.

May 18, 2011
midwest titan:

1) It's like slavery? Oh really? It must be the only profession where that is true.

2) What banker makes 2 mil after 10 years? Those are obviously outliers.

3) A FT nurse can work 3 12 hour shifts and be considered full time. Include 2 more 12 hour shifts. and thats 60 hours a week. Hardly slave labor and that gives you at least 20 hours of time and a half.

4) Stop talking about Hedge Fund 'owners' or managers in Comp Conversations. It makes you look like someone from Reddit.

Probably the dumbest most ignorant post in WSO history. You obviously have never worked in nursing or banking and probably are unemployed judging by your lack of reality on life. I'll talk about the reality of things because thats what people on here need. If you don't know there are bankers making $2 million after 10 years your on crack and go work 60 hours a week in nursing then get back to me.

Whatever you say big guy. My points are true and I have credibility. You write like you're 12 and used to be a nurse. I win.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

    • 1
May 18, 2011

wow congrats you can tell all of you world of warcraft buddies how great your pretend character is on WSO

    • 3
May 18, 2011
midwest titan:

wow congrats you can tell all of you world of warcraft buddies

Great sentence chief.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

May 18, 2011
happypantsmcgee:
midwest titan:

wow congrats you can tell all of you world of warcraft buddies

Great sentence chief.

So now you're a nurse and an English teacher?

May 18, 2011

Nurses are ok; bankers are ok. Let's all read the book and pass the hippie peace pipe around. :-) :~)

May 18, 2011
IlliniProgrammer:

Nurses are ok; bankers are ok. Let's all read the book and pass the hippie peace pipe around. :-) :~)

* light that shit!
* Smoke That Shit!
* PASS THAT SHIT!

May 18, 2011

Marcus, where u drunk when you wrote that post?

Should we also start including hedge fund billionaire as reasonable doctors career path(see Michael Burry?)

You guys are seriously deluded about what the average doctor makes, I know alot of them and all this yeah just open a couple of clinics and make a few mil a year, anyone can do it talk is utter shit.

May 18, 2011

Maybe, but opening five clinics is probably as "easy" to do as making managing director.

VP is sort of like making First Class Scout. It is the troop's duty to get you to first class if you keep coming. It is the bank's duty to get you to VP eventually if you don't get fired.

There is no guarantee you make SVP or MD. In fact, it is highly unlikely.

May 18, 2011

illini you are insane.

I can only proxy difficulty of opening lots of pain clinics or becoming md, but if u have 10-15 analysts per every md, and assume most promotion is done internally thats still alot more analysts making md than doctors becoming multi millionaires through pain clinics.

I am done wasting my time with idiots.

Any doctor would be deeply offended by your idiocy illini.

May 18, 2011

Nursing is one of the sweetest gigs you can get today. I would say the OP's lawyer friend is doing pretty well- I knew several lawyers who graduated around 2006-2008 who couldn't find jobs, or could only find a 60k gig. Not terrible, but when you are 300k in debt and went to Ivies, pretty soul crushing. My "winning" lawyer friend graduated near the top of his class and got the ~120k base salary that was standard for a top tier at the time and then worked 100 hour weeks before he died of a heart attack around his 29th birthday.

Anyway, you know what is awesome about nursing? You can generally pick the amount and type of hours you work- My friend's mom puts in a straight 40 and takes the rest of the week off. And when you go home... you go home. No one is emailing you, you aren't sitting at home living in fear that an MD is going to call you to bang out a really important change to an excel file no one is going to remember existed in a few months and ruin your chances of making it out to your friend's birthday that night.

On a side note... there was a mention of pharma sales reps. Holy crap do they have it made. Schmooze all day, and if you are selling a halfway decent product and work reasonably hard you can kill it and make way more than your CEO. I will take it a step farther and say any sales job where you are selling relatively niche high value products is the quickest way to early retirement. Defense contracts, Fragrances and flavorings, industrial equipment, TV advertising, high end/commercial real estate... that's where the moron blondes can monetize their eating disorders.

May 18, 2011
someotherguy:

Defense contracts

...mmmmmm, juicy. I know a couple of guys making a KILLING doing this. The day they are hiring, I'm jumping ship.

May 18, 2011
UFOinsider:
someotherguy:

Defense contracts

...mmmmmm, juicy. I know a couple of guys making a KILLING doing this. The day they are hiring, I'm jumping ship.

define killing. 7 figures?

May 18, 2011

Thanks to leveredarb for inserting some reality into this thread.

Opening pain clinics and private practices isn't done overnight and it isn't as easy as some people have implied. Most doctors don't make $300k+ a year. For every Derm, Ortho, Brain surgeon there are a handful of GPs that work at hospitals or that have some tiny private practice and make a few $100k a year (which isn't bad given their hours, etc.).

That applies to nursing as well. I'm not hating on nurses. A number of my family members are nurses and a number of my friends are as well...hell, I have a number of buddies that are "murses". They do a job that I would find completely shitty and I'm thankful for what they do. As much as they all say they love nursing, they all bitch non-stop about shitty hours, shitty working conditions, etc. Honestly, that is probably no different from financiers but it seems to me that many folks in this thread have their "grass is greener" goggles on. Maybe they work 1/2 as many hours as bankers, but their days are jammed packed with shittiness...so keep it perspective.

Most nurses, and murses, that I know don't make anywhere near the amount of money that many have been talking about in this thread (they are earlier in their career)...likely because most nurses aren't specialized and they haven't spent additional years in school, etc. Is there decent upside? Yeah, of course there is, but in most of the examples mentioned it is going to take an entrepreneurial approach that many people don't have...so again, they are the outliers. It's also worth pointing out that OT isn't just there whenever you want it. The people I know that work in nursing are finding those extra hours hard to come by...though most of them work in the same geographical area, which could be a factor

The bottom line is, people are trying to compare above average nurses to average bankers...which just doesn't work. Obviously I am biased to finance being that I currently work in the industry, but I see the medical side fairly often through friends and family and it isn't exactly as its been made out to be here on WSO...but that could be said for a typical finance career.

Regards

May 18, 2011

if the number one goal of a doctor is to make boatloads of money, they would choose another profession, not one where they have to go into six figures of debt, wasting their 20s doing their residencies making 50k a year, only to start making six figs at the age of 30. doctors dont go into the profession to out-make bankers. some of you guys think doctors' salaries are high, but people in the real world think ibankers salaries are ridiculous. no point in comparing totally different professions.

May 19, 2011

I grew up surrounded by people in the medical industry and I will say that nursing can be a sweet nowadays. In my personal belief, it's one of the few college degrees that will pay well post-graduation (there maybe some bias there as people I know came from UIC, a school with a top nursing program). But it is possible to have just an associates degree and make 45K (here in Illinois at least) in nursing for first year - not great but good for an associates. Job security is good as well. The hours things is subjective. Personally, those 60 hours can be brutal depending where you work and what unit you are in.

I also think there's no point in comparing salaries, plus I know very little in the finance profession to start sprouting off future salaries. What my mom does as a nurse, I certainly want no part of. What I do at work bores the shit out of her. To each his/her own.

May 19, 2011
Inception:

I also think there's no point in comparing salaries, plus I know very little in the finance profession to start sprouting off future salaries. What my mom does as a nurse, I certainly want no part of. What I do at work bores the shit out of her. To each his/her own.

This. Also, any way you flip that burger, $100+K is just an awesome salary, most people would kill for it.

(That, or US wages are totally out of par with western Europe's)

May 19, 2011

A lot of you are either ignorant or foolish.

There's this thing called over-billing medicare/medicaid.

There's a shit ton of Dr's who do it and make a killing literally doing nothing but seeing old people for 5 minutes a pop at $350-$500.

You do the math.

Defrauding medicaid/medicare is SOP.

    • 1
May 19, 2011
analystonsmack:

A lot of you are either ignorant or foolish.

There's this thing called over-billing medicare/medicaid.

There's a shit ton of Dr's who do it and make a killing literally doing nothing but seeing old people for 5 minutes a pop at $350-$500.

You do the math.

Defrauding medicaid/medicare is SOP.

A buddy of mine audits this stuff, and this gravy train is coming to a halt in the not so distant future. A doctor can and should make more than a nurse, but unlike finance, when they say it's not about the money and you really DO have to like the career: it's for real. The amount of work that they do compared to pay, ON AVERAGE, is insane.

Personally, I'm out for the money, so I'm in finance......

May 19, 2011

Defrauding medicaid/medicare is SOP.[/quote]
A buddy of mine audits this stuff, and this gravy train is coming to a halt in the not so distant future. A doctor can and should make more than a nurse, but unlike finance, when they say it's not about the money and you really DO have to like the career: it's for real. The amount of work that they do compared to pay, ON AVERAGE, is insane.

Personally, I'm out for the money, so I'm in finance......[/quote]

not sure if gravy train is the right word. soup kitchen would be closer to reality. the people who overbill or make up procedures should be audited. it's simple fraud.

May 19, 2011

Doctors pleading poverty is the new thing.

What a lot of them won't tell you is that they're on a school teacher's work schedule.

For example my general physician takes a month of every 4 months. Work schedule is 12 hours /day 4 days a week and 6 hours the fifth day.

She nets over 150k/year.

How's 150k for 9 months, working 55 hour weeks sound?

Take the plea of pverty with a grain of salt. It's akin to MM's in NYC pleading poverty because they're not billionaires.

May 19, 2011
analystonsmack:

Doctors pleading poverty is the new thing.

What a lot of them won't tell you is that they're on a school teacher's work schedule.

For example my general physician takes a month of every 4 months. Work schedule is 12 hours /day 4 days a week and 6 hours the fifth day.

She nets over 150k/year.

How's 150k for 9 months, working 55 hour weeks sound?

Take the plea of pverty with a grain of salt. It's akin to MM's in NYC pleading poverty because they're not billionaires.

those types of schedules are usually for doctors that have already been working a long time. i doubt it's very common for younger doctors to take so 1 month off every 4 months.

May 19, 2011

I hear nurses are the most unhappy people working at hospitals. I guess its because the have to tend to all the patients needs. That includes wiping them after they go to the restroom, bathing them, bringing their food etc. If somebody is doing nursing for the money, they are going to end up being unhappy with their chosen career. A nurse should be somebody who actually cares about what their responsibilities are and making sure the patients are taken care of.

  • Anonymous Monkey
  •  Sep 22, 2015

Well said, unfortunately we all know what the truth is, it's all about the money with an exception of a few.

Mar 14, 2016

I'm an rn in the process of working 56hrs a week for 4.5 months of this year, then dropping back down to 40 hrs/week for the rest of the year. With my OT Differential, I'm going to break 200k this year with this schedule . Got to thank my union.

Mar 15, 2016

Ok but did you ever have to wipe every last trace of diarrhea from the darkest crevices of your MD's ass?

Array

Mar 15, 2016

Haha, I'm glad your jealous

Mar 15, 2016

growth opps

Mar 15, 2016

Yea this field is limited on growth opp, but with no debt and relatively short education, the excess time and income is going towards other investments.

Mar 16, 2016

I love how everybody is screaming ~$120k a year is her max, whereas most people here (or on any other website for that matter) will never break the $200k barrier. The corporate lawyer will never make more than $250k unless he makes partner, and if he is starting on a $110k salary instead of $160k, the ceiling is most likely even lower. Unless the genius quant guys join a successful startup with equity, he will find out that his maximum earning potential lies between $200k - $250 as well. The BB analyst? Unless he is able to go the IBD -> PE MM / MF -> MBA -> PE MM / MF (which only a select few make), good luck finding a job that pays more than $200 - 250k.

Don't get me wrong, $200k is great money, but by all means, stop pretending like your 100h / week job is so much better than a 40 - 50h job making a solid six figures.

    • 1
Mar 16, 2016

Sorry, I gotta call bullshit. What the F are you talking about? My female lawyer friend in her early 30s is clearing 300k +, and no she's not in corporate law, and no she's not a partner. If you're a valued asset with some seniority at a NY law firm, that comp is very attainable. Also since when do you have to be in a PE MF or MM to have an earnings trajectory that will eclipse $250,000? You said most people here will never make that much money, but last I checked this is an investment banking message board, and first year associates make more than that.

Mar 16, 2016

We all have a friend of a friend who makes more than that. Truth of the matter is, practically all BigLaw firms have a lockstep mechanism from $160k as a 1st year associate to $280k as an 8th year associate, with a small bonus on top of that. Most people have left by the 8th year, working in-house for $150k - $200k.

$250,000? You said most people here will never make that much money, but last I checked this is an investment banking message board, and first year associates make more than that.

https://pbs.twimg.com/media/Caa1SnWUMAQhve3.jpg:large

Mar 16, 2016

Are you a lawyer or, if not, some authority on the various dichotomy of fields of law and tiers of law remuneration?

Yes.

2) Assoc. 1 Base at BB/MM/EB investment banks: $150,000 ; Bonus: $100,000+. Have a nice day.

I do not work in banking, but anecdotally speaking, this seems to be a bonus awarded to top-bucket associates.

I am not going to argue any further on this point. Yes, if you start off as a BB Analyst, MC at MBB or BigLaw associate, you have the potential to make the tenfold of what the poor nurse is making. Perhaps 'will never break the ~$200k barrier' was a bit unfortunate, but I reiterate that the majority of people on this board or anywhere else who scoff at a solid ~$120k job are heading for disappointment. BB, MBB or BigLaw jobs are hardly sustainable for a prolonged period of time, and as the poster above me pointed out, most will exit into corporate strategy / development roles that often have a ~$200k ceiling.

Don't believe me? Just search for the average compensation over a 20 year span that HBS grads make. Should be around USD 3.5MM, or USD $175K / year.

    • 1
Mar 17, 2016
Comment
Mar 18, 2016
Apr 13, 2016