Dentists make $99.00 an hour, which is more than orthopaedic surgeons but less than nurse anesthetists, according to a study by Suneel B. Bhat, MD, an orthopaedic surgery resident and his colleagues at the Thomas Jefferson University Hospital.
Presented this month at the American Academy of Orthopaedic Surgeons (AAOS) 2012 Annual Meeting, Dr. Bhat’s study found that becoming an orthopaedic surgeon was a “poor financial investment” compared with studying law, dentistry, or anesthesia nursing, according to Medscape Today News.
“Our study, the first direct comparison of the financial return of orthopaedic surgery to other professions, highlights the point that there is a relatively lower financial value incentive for qualified individuals to enter orthopaedics compared to several other professions, which could potentially have far-reaching implications on career choice and subsequent access to care for patients,” the authors concluded.
The Medscape report revealed that the researchers found that dentists earned a cumulative career total of $6,866,796.
That was less than the $10,756,190 made by orthopaedic surgeons, the $8,381,250 made by lawyers, and the $7,338,412 made by nurse anesthetists, but more than the $3,867,504 made by nurse practitioners.
Also published in the report is the amount of debt factored into the study for orthopaedic surgery students, which has increased by $34,000 for public schools and $40,000 in private schools over the past five years.
Since 1984, the medical school tuition has raised in public institutions by 165% and in private institutions 312%. They assumed that educational loans would be deferred until the annual liability was less than 25% of earnings, and that interest on the loans was 8.25%, according to Medscape.
When hourly income was calculated, orthopaedic surgeons made $88.00 per hour, compared to $93.00 for nurse anesthetists, $130.00 for lawyers, $49.00 nurse practitioners, and $99.00 for dentists.
The lingering recession has taken a bite out of dentists’ incomes over the past 4 years with many laying off employees and postponing retirement. The average dentist salary according to the U.S. Government Bureau of Labor Statistics is $74.00 an hour, with some new dentists earning $26.00 per hour at the lower salary range, while dentists at the upper range earn $80.00 per hour.
Another recent study compared the earning of high school graduates who skipped college and grad school expenses and went directly into the trades. The study compared a plumber with no advance educational cost and debt to a physician. The plumber came out ahead on life time earnings.
The real kicker was that the physicians not only got nailed for the extra school costs and debt expense, but were taxed by the government at a higher rate on their delayed earnings.
With the cost of higher education continuing to rise and the amount of student loan debt graduates carry after graduation, do you think dentists leaving dental school today still have the opportunity to become a wealthy dentist?
For more on this study see: Dentists’ Hourly Income Better Than Orthopaedic Surgeons’