Applicants Down 12% Nationally

[voxveritatisetlucis]

Yes this is pretty clear and it’s strange anyone is questioning this

I think that it is because inflation is a highly regressive tax. Those with good salaries and assets that have increased 150% since the covid lows are far less likely to notice even large price hikes at the grocery store, gas station etc.

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[deleted314957]

I guess my economic intellectual density is what got me an 8 figure retirement. 71 years IS the “ long- run”.

 

[J ROD]

In 2021, we had 17,881 applications. We were up 24% and applications were up nationally 18%. In this current cycle, we have 15,993 applicants, so we’re down 11%, nationally they’re down 12%.

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yeah do not do it...be NP instead.

 

[Taurus]

lol i didn't mean to turn this into a tech vs medicine debate haha.

i appreciate everyone's perspectives as I am not a doctor, or medical student, and every comment is insightful. I agree with everyone here that medicine is the more stable, presumably easier in lifestyle as you age (not qualified to say so but that's what I gather).

As a developer, it's not that bad. The bad can sometimes get ugly, but not usually. I have colleagues at Facebook who show up whenever to get their work done and then leave. Coding can be fun - outside of work. Most people I know at their jobs don't love their jobs. They're just they're for the money before they go off to launch a startup or save to retire.

I know medical students who dropped out to go into tech, and engineers who went into medicine. There is really no wrong solution. If you really want to enjoy your twenties, tech is definitely it though. There's basically no pressure outside of work. I would be happier to go into medical school later in life than as a recent graduate because I would've never been able to handle it like you guys.

I’ll give my perspective as someone who was in a similar situation as you switching from tech to medicine and is now much further along in my journey (albeit I started med school earlier @27). It has been completely and totally worth it for me. I work fewer hours (most weeks 45 hours versus the 60-100 hours in tech), make many, many multiples more than when I was in tech, get more respect just by MD title and my position (introvert, not into socializing, not good at climbing corporate or management ladder, didn’t want to work for idiot, clueless, good talking managers for the rest of my life). With that being said, I have been very fortunate with my medical career not because I was necessarily lucky but because I spent a lot of time reflecting on my own personal strengths/weaknesses, the strength of my school name/application to particular fields, contemplating the future of different fields based on trends/midlevel encroachment, and researching what are the best fields/fit for me. Medicine can easily turn from a beacon of hope and dream fulfillment and into a nightmare if you don’t do well in medical school or residency (ppl who drop out/fired and now owe $$$ without meaningful, high earning career prospects or go into the wrong fields with low salaries/limited geographic opportunities/oversupply like EM, RadOnc, path). To this day, I always think about what’s around the corner or look for new opportunities (since I basically have achieved FIRE thanks to my attending salary and hot housing market and currently trying to diversify my investments and looking at passive income sources).

So yes, switching from tech to medicine is totally worth it - if you do it smartly. For me, I picked the right specialty and subspecialty and I could see myself doing this for 20+ years. Is this the only path to happiness for me in medicine? Of course not. That’s like saying there’s only 1 person in the whole world who would make the perfect spouse. That’s naive, childish thinking. Navigate medicine carefully so you find something you can be happy doing for decades.

 

[Proudfather94]

We basically got out of it through immense fiscal spending and expansionary monetary policy. Once the economy started to open up the government continued this expansionary policy essentially overheating the economy. The issue with this is the underlying structures that underpin the economy are weak, specifically the labor market and consumer confidence among others, which indicates a recession is coming sooner rather than later and that this "recovery" is only temporary. We are just now starting to experience the ramifications of this irresponsibility

Is being a medical student during a recession the best or worst time to be one lol. I'm guessing as long as one can afford food and a place to live they can ride it out until they're out of medical school.

 

[psyspy]

Historically it was good to be a med student in a recession, but there’s also stagflation happening now too. Med schools have raised tuition substantially in the coming year compared to the prior year, and the rate of tuition rise will probably continue to stay high

 

[psyspy]

And did I mention physician salaries are essentially not budging at all with the inflation. Somehow insurance companies don’t need to increase reimbursements or whatever

 

[psyspy]

How much are people paying for degrees before entering med school? I feel like we’re also underestimating the total cost of SMPs, private undergrads, opportunity cost from gap years, etc

 

[Proudfather94]

How much are people paying for degrees before entering med school? I feel like we’re also underestimating the total cost of SMPs, private undergrads, opportunity cost from gap years, etc

I had about 30k. I'm really not looking forward to having 15 times that amount of debt by the time I'm an attending. Here's to hoping I get scholarships.

Honestly I think there would be less applicants if people were more informed about the steps needed to get into medical school and were told about alternative pathways. There's so many people even on here burnt out from grinding that long that I think many would consider this and go into a medical field with less schooling.

 

[NegativeMargin]

The last thread about this had far more measured responses, but this sure has been entertaining.

 

[Goro]

This seems irrelevant and rather inappropriate... was that really the best you could come up with? Seem rather unintelligent to generalize like that, but that's probably the only level you can operate on. I've seen you act arrogantly in other forums so this isn’t really surprising, but you seem to think far too highly of yourself...

Sock puppet alert!

 

[gyngyn]

This thread will be closed if there is any more incivility.
Some posts have been deleted for unkind behavior.

 

[OptionOffense]

unkind behavior.

We cant have that when seeking the truth.

 

[Lawpy]

SDNers: recession is unlikely. We are experiencing great economic recovery!

WSJ, economists and financial experts:

Recession Risk Is Rising, Economists Say

Forecasters have raised the probability of economic contraction in the next 12 months to 28% as the Fed tightens to beat back inflation.

www.wsj.com

 

[deleted1133354]

SDNers: recession is unlikely. We are experiencing great economic recovery!

WSJ, economists and financial experts:

Recession Risk Is Rising, Economists Say

Forecasters have raised the probability of economic contraction in the next 12 months to 28% as the Fed tightens to beat back inflation.

www.wsj.com

Well, what do you define as unlikely? 28% is unlikely in my eyes.

 

[Lawpy]

Well, what do you define as unlikely? 28% is unlikely in my eyes.

The risk is elevating due to government mismanagement of inflation and continued supply chain disruptions from covid 19 variants and the ongoing Russia-Ukraine War. Increasing interest rates to fight inflation only further heightens the chances of a recession. 28% chance now is a bad thing, and that probability will only continue to increase further in the coming weeks.

SDN appeals largely to people from wealthy backgrounds so they’ll be least impacted by the economic crises.

 

[Lawpy]

I’m extremely pessimistic on the economic outlook. Maybe if the Russian invasion didn’t happen, I’ll be less cynical but seeing there’s no end in sight to both covid 19 and the war, I think we’re heading for a very rude awakening and a possible economic catastrophe in the near future. Combine this with the absolute failure to learn anything from the 2008 financial crisis, the likely collapse of many ongoing economic bubbles (housing market and student debt are unsustainable and on verge of collapse) and the likely massive political changes in the upcoming 2022 midterms that’ll likely lead to brutal political gridlock, we are going to head towards a very deeply unsettling economic, political and societal disaster.

 

[bGMx]

I’m extremely pessimistic on the economic outlook. Maybe if the Russian invasion didn’t happen, I’ll be less cynical but seeing there’s no end in sight to both covid 19 and the war, I think we’re heading for a very rude awakening and a possible economic catastrophe in the near future. Combine this with the absolute failure to learn anything from the 2008 financial crisis, the likely collapse of many ongoing economic bubbles (housing market and student debt are unsustainable and on verge of collapse) and the likely massive political changes in the upcoming 2022 midterms that’ll likely lead to brutal political gridlock, we are going to head towards a very deeply unsettling economic, political and societal disaster.

After which we will have a genuine boom.
Don't sleep on Canada. There is no reason for it to be a country other than shear historic precedent.

 

[GoSpursGo]

And we have officially left any reasonable connection to the original point of the thread, which was to discuss why med school applications are down, which isn't true in the first place.

Thread closed.