Ad hominem attacks, however gratifying they may be, have not gotten this thread anywhere; we should all do our best to try and stay on topic.
megaton, I see your point. 8 years of hard work and 150k in debt is tough to handle on 55,000 a year before taxes. I can make no effort to justify it financially. It's true that people should do what they enjoy and make the best of it. There's always give and take between what will feed the family, and what makes you happy. In my case, I have chosen to go into optometry school--luckily, with minimal debt from undergrad--in spite of the almost 200k it will cost me for the next four years (with 6.8% interest!). I would not and could not afford this (now, remember, everyone's financial plan and aspirations are different) profession if it indeed paid 55k a year. Yearly payments over 5 years would add up roughly 27.6k a year. You would not even qualify for any mortgage on that income/debt ratio. If spread out over 25 years (more likely), it would be 15.6k a year in student loans and a little bit more credit for a mortgage, but still nothing lavish, hell, I'd just be 4 years older and still making what my friends would been making without going to 200k worth of grad school.
Now you're really wondering why I'd go into OD school. It's because in my personal network, every optometrist has given me a positive outlook on their profession. All the optometrists I have spoken to or the incomes I have been told of have been close to or above six figures (sorry, I can't exactly advertise the phone numbers to all my sources, it's an anecdote!) and none have expressed regret over their choice of profession. Now this may not be enough to convince you, and I wouldn't expect anything less than a courtroom deposition to do so, but hopefully you can understand why I chose to go into optometry and take on the debt load you're speaking of. I recommend you speak to more optometrists in your local area and discuss this issue with them. The default rate for student loans is rather low according to the financial aid advisors at our school so it seems that people have been managing to make their payments reliably. You've really gotta find out for yourself if this is worth it to you.
I do enjoy optometry for what it is, and will take pride in the work as all any of the optometrists that I've shadowed do, and I do expect to earn a comfortable living in doing so. I'll address your question: I wouldn't work more for something to get less than I put in; the juice has to be worth the squeeze to me. I guess we're really in disagreement over is what the average optometrist salary is. It's worth it to me.
Addendum: I was browsing the Berkeley optometry job listings page you linked to earlier and here is what I found as of 03/18/2009 (
http://optometry.berkeley.edu/opt_txtpp/positions_practices/positions_nonopt_list.html)
Of the posts that do list a pay, a rough approximation seems to be about $50 an hour, or $400 a day. These positions are part time, but I would expect a full time pay to be in the ballpark. If you take $400 a day and make that 5 days a week and 48 weeks a year, you're looking at $96,000. Above that, the hiring doctor must make a specific % above that (some say you should be bringing in 3x-5x what your salary/pay is into the practice's gross revenue to make it financially worth it for the doctor to hire you. One would assume that the doctor who owns a practice may be reasonably expected to be able to net at least $96,000 a year working full time. The only jobs I've heard of that pay as low as 60k for full time work are military jobs where they pay for a big chunk of your tuition, and even then, going into military optometry is another personal choice where you have many factors to consider beyond just pure cost.
1. Part-time Position: TPA-certified optometrist wanted in Lancaster, CA to work Thursdays and Fridays. Average daily salary is $400-$600 a day. Call [xxx-xxx-xxxx] for more information.
Ad expires May 13
3. Part-time Position: Optometrist needed for 2 days a week (Mon. and Tues.) in Coalinga, CA for a Correctional Facility. Hours are 8:00-4:00. Optometrist must be board licensed in CA, have a clean history, registered to use TPA, and have 2 professional references. Only apply if you can commit long-term (12-24 Months. Pay: $50 - $55 per hour. Please send resume to
[email protected].
Ad expires May 13
5. Temporary Position: Vacation coverage: Looking for OD to work for me April 6-16, Mon. thru Thurs, 8 days total. New equipment including Marco RT-5100 refractor. Outstanding staff. Compensation $400 day. Office located in Clearlake, CA (Lake County). Please call Dr. Bonner or Tami at [xxx-xxx-xxxx]. Email:
[email protected].
Ad expires April 5