A recent social media post has ignited discussion regarding career choices in the United States, asserting that lucrative opportunities in finance may overshadow those in medicine, particularly for highly motivated individuals. The tweet highlights a significant disparity, stating, > "Guys in finance I know can make 5x-10x what I make and only a small fraction of the people who have the ability to be a high volume, talented sub specialist will pursue it." This sentiment emerges amidst a growing physician shortage across the nation, raising questions about talent allocation and healthcare accessibility.
While the average physician in the U.S. earns between $170,000 and $250,000 annually, with specialists potentially reaching around $404,000, top-tier finance professionals command significantly higher compensation. Investment banking Managing Directors (MDs) can see "all-in" compensation ranging from $1 million to several million dollars. Similarly, successful hedge fund managers, often compensated through a "2 and 20" fee structure (2% management fee and 20% performance fee), can earn multi-million dollar salaries, particularly when managing large funds and delivering strong returns, thereby illustrating the substantial financial upside in certain finance sectors compared to medical practice.
The U.S. is projected to face a critical physician shortage, with estimates from the Association of American Medical Colleges (AAMC) indicating a deficit of between 37,800 and 124,000 physicians by 2034. This shortage is particularly acute for medical sub-specialists, including fields like vascular surgery, neurology, and cardiology, which require extensive and rigorous training. The social media post underscores this challenge, noting, > "only a small fraction of the people who have the ability to be a high volume, talented sub specialist will pursue it."
The scarcity of physicians is further exacerbated in rural and medically underserved areas, where the ratio of doctors to residents is significantly lower than in urban centers. International Medical Graduates (IMGs) play a crucial role in mitigating this deficit, comprising approximately 25% of the U.S. physician workforce. These foreign-trained doctors are disproportionately more likely to practice in rural and underserved communities and to enter primary care specialties, addressing critical gaps in healthcare access.
However, IMGs often navigate arduous processes, including residency matching and visa restrictions, to practice in the U.S., despite their vital contribution. The tweet suggests that while increasing medical school spots might yield more primary care doctors, > "if you want to get to a sufficient number of very talented sub specialists scraping elites globally is the best way to ensure coverage, particularly in communities that aren’t close to a major metro area." This highlights the ongoing reliance on international talent to meet the complex and specialized healthcare needs of the American population.