Do you sell Amway too?

Not to knock amway which i am sure sells fine products but your analysis of podiatry is strikingly similiar to this company's interactions with their multi-level marketing participants.

In the Amway program I have been told that each participant is advised to measure their success with such benchmarks as

1. how many people did you talk with today
2. how pumped are you about the product
3. how many times did you mention the program
etc

What is my point?

My point is that you are discussing the strides in our profession in terms of residency training, hospital priviledges, residency pay, etc. AND this is not the benchmark that ANYONE should use to make an educated decision about any business opportunity. Who cares about these issues. Who cares how many people you called today. Who cares if you are pumped. The key concept is "IS IT WORTH IT TO SACRFICE 8 YRS OF MY LIFE FOR THIS JOB"

So how do we judge something objectively?

It's called ROE (return on equity)or in other words how much you have to sacrifice to get what rate of return.

Here is my opinion on podiatry

4 yrs undergrad = 40K
4 yrs of pod school = 125k
plus 8 yrs of lost income at 15K= 120k

so you have invested 285K just to get started.

Then to make over 100K you USUALLY have to buy or start a practice as our profession can be brutal on associates and MOST do not get six figure incomes as do most M.D.s.

so add another 150K to buy a practice.

Thus, you have invested 435K and 8 yrs of your life to make the average salary of 100K WHICH DOES NOT INCLUDE THE PAYMENT ON YOUR BUSINESS LOAN AND STUDENT LOANS.

What it worth it? For me yes but for many in my opinion it was not.

Are you an individual that is as driven as the 80's doc. Will you sacrifice for years to achieve your goals? Will you give talks, attend med fairs, hang a sign around your neck? Sell your first born?

If you are, is there any chance that you might quality for something else. I heard that a CEO position has great benefits. Maybe you are MBA or attorney material? Why shoot for a lousy 250K when CEO's are making 10 million per year?

p.s. just my opinion












Here is the ROE in podiatry