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**POLL** PH.D, JD, Or MD?

P

phatj

Golden Member
B.S. & M.S. in Biomedical Engineering

go for MD, PH.D (In Biomedical Eng), or JD afterwards? Just wondering what you guys think.

Since they all make excellent cash, $ shouldn't really play a HUGE role in the choice.
 
The big question: what do you want to do with your life? There are some VERY different choices with those three.

PhD: a choice within a choice: academia versus corporate. Academia has the benefits of excellent job security, (usually) good benefits, and (usually) interesting work. Has the detractors of semi-low pay (in comparison) and putting up with the BS of academia. (I actually AM a PhD student in Engineering Mechanics). Corporate research pros: GOOD pay, interesting work (sometimes). Cons: a lot of BS (be prepared to hear TQM or "six sigma" over and over again), next-to-nil job security in today's economy.

MD: pros: interesting work (depending on what you do), VERY good pay (again, depending), having people address you as "Dr." all the time (surprisingly enough, that doesn't happen with a PhD out in "real life"--just at the university). cons: takes QUITE awhile to earn money (school, residency, etc), malpractice insurance is VERY costly, unless you're in private practice, be prepared to work a LOT.

JD: pros: patent (biomedical, particularly) law can be VERY profitable, and you get to hear about all the pharmaceutical lawsuits, pay is good once you pass certain barriers. cons: the first few years are tough (you work long long hours to get to partner and join "the boys club") and you're a LAWYER (not all of them are bad--some are great--but you DO get that stigma from the ambulance chasers).

So its really what you want to do. What fits in with your plan for your life. Personally, I chose a PhD (instead of an MD/PhD program at Duke) because I like research... and I particularly want to have a family. And professors at research I universities (especially tenured) have excellent job security, good benefits, and can likely stay where they are for 20 years (which is good for raising children). HOWEVER, this is not the right choice for everyone.... you need to think what YOU want and what your priorities are. Good luck!
 
In response to Hokie...

I definitely want to have a family, and spend time with them. I'm shying away from the MD because of the LONG hours.

Then again I have quite a way to go yet 🙂

How would the Academia vs Corporate Ph.D pay differ?

I'd be happy with 80k+/yr 🙂
 
Tenured professors usually make 80K or so (depending on where you live... they can make 82K here at VT). Named professors (or chairs) can make considerably more. Rumors have a prof at UT-Austin making over $300K. Keep in mind, though, they have a lot of perks--use of the gym, buying software through agreements, use of university facilities, etc. Also... you have to hold office hours and do research--but you can always grade papers from home (and if you do numerical/theoretical research, you can do that at home too).

I've personally been offered as much as $120K with a masters for a corporate job. BUT, I've seen people be hired and fired in a matter of three years.... (i've also seen some spend 15... so it varies greatly). Personally, I just can't handle the BS. I got to where I was heckling during the TQM seminars. 🙂 The money is better. Job security isn't. You also don't have to put up with some of the name-calling/back-biting that can be evident in academia (particularly in certain research areas).

There are pros and cons.... unfortunately, there's not a clear decision.
 
if you want to make big bucks but don't want long hours, don't get a JD. IP lawyers at big firms and boutiques make nice bank but work very hard.
 
why on earth would you be asking this question? It is ultimately up to you and what you want to do. Nothing we say here is going to make a bit of difference in your decision and you know it.
 
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