Twitterverse is in disarray over this survey.
Every year, Medscape publishes a physician compensation survey. They also send a specialty specific survey to members- I received one for Psychiatry. A lot of people are surprised by the fact that physicians are not a happy group as a whole. The only people not surprised are likely physicians themselves.
Only half of the 20,000 odd doctors surveyed feel that their compensations are satisfactory, and only half would pick medicine again, given the chance.
More tellingly, only one quarter of internists and one third of family physicians would choose the same specialty. What do both these specialties share? Low salaries. But then, roughly half of pediatricians, who also have low incomes, would still choose that specialty. The most satisfied specialties are dermatology (high income) and psychiatry (low income). The most discontent were plastic surgeons (high income) and internists (low income).
Do you see a pattern there? Or lack of one? Apparently, mo’ money does not equal mo’ happiness. One of the things the happy specialties -dermatology, psychiatry, even emergency medicine- share is a better quality of life, as measured in terms of working hours, being able to do your job within/despite of the system, having down time for non-work activities, etc.
I also suspect that unhappy doctors are unhappy for two reasons- one, they are not able to do what they would like to do (more medicine, less paperwork); two, they feel they are not making the amount of money they should be making for the amount of work they do.
Which brings us to the next question- how much money is enough money? Several of the surveyed physicians felt that their salaries were not enough to cover their expenses. (I’m assuming that they did not simply mean their overheads.)
The doctors I know seem to have a lot of expenses. Most of them have a home loan, another home loan, two (or three) car loans, student loans (if they are younger than 40), a high maintenance romantic partner (and maybe an expensive ex), kids to put through school (and college, if they are immigrants), a expensive hobby, or two…you get the idea. Perhaps you’ve been there.
Money is like time. Your chores expand to fill all available time. Your expenses expand to fill all available money.
Current goal in life- don’t look for mo’ money. Spend money on experiences and not on goods. Keep expenses low.


