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Old 25-05-2020, 11:59 PM
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I read all 114 pages. I am interested in 'How is life as a doctor in Singapore' because my daughter could be one 5 years down the road.

I am shocked to find out that the houseman/woman pay has not changed much, if at all, from 10 years back. 3.5k per month vs about 150-170k of education fee. A normal good degree can fetch you 4-5k if you join SAF or SPF or even becoming a teacher. 3.5k is poly diploma kind of pay.

I read through and got a second shock when one of you posted and mentioned that in 2003 [or 04], when he was a 3rd or 4th year MO, his pay was 4.5k. Same thing, no increment or at best, slight increment after 17 years.

Third shock, one can remain as MO and earn max pay of 8K if didn't manage to specialise or becoming a GP. You are definitely earning lower than an SAF or SPF officer or teacher here, yet your degree cost much much more.

On the other spectrum, you can become a specialist, the fastest, in about 10 years. You would then be an associate consultant but it seems that in fact, there may be no vacancy and you have to wait for existing AC to move up, move out or retired to take over the vacant spot? Same thing here from AC to consultant?

There is no guarantee that you can become a specialist. All MOs will fight for the training opportunities, if accepted, have to study, train and take exams before qualify to be a specialist? You may or may not get sponsored for the exam fee, which is costly? This is a very small number? I don't know how many in term of % of cohort can end up as a specialist/AC/C.

Is my summary the accurate reflection of the medicine landscape? My conclusion from the reading is that it does not worth the investment to become a MO forever. To lesser extend, it is not too bad to become a GP if one can't be a specialist and progress to AC/C. Even then, the competition is getting intense in the GP scene? If GP can't command at least 15-17k per month, and if in the long run, if GPs income drop to 10k level, then it is also not worth the long education and cost involved to become a doctor.

I remember very clearly in 2003 during SARS that my salary was around $4700 a month as a 4th Year MO.

During that time my wife's best friend talked to her about buying condo in orchard road area. Investment. Her husband worked as a FOREX trader with HSBC.

My wife asked me and I looked at our bank account and only had 25k to our name.

Around 4 years later wife's bestie said they bought a total of 6 condos. And 2 had gone en bloc. Set for life. And he was making 13 months of bonus each year and earning close to $500k a year. Meaning total pay package more than a million a year. Myself? Became a GP. Was "happy" to make $10k a month no bonus.

How did they manage to buy? Banks gave generous loans with great rates to staff. Encouraged staff to buy. With low downpayment as well.

Tell your daughter to forget medicine. Go into banking.
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