Opportunity cost analysis of residency training:
Assuming a male MO with 3 years of bond left (2 years bond served in
NS).
Total earnings (If he leaves to be a locum GP after 3 years):
Y3: $70000 a year (MOPEX MO)
Y4: $73000 a year (MOPEX MO)
Y5: $75000 a year (MOPEX MO)
Y6 (Left after bond): $20000/month (locum GP)
Y7 : $20000/month (locum GP)
Y8 : $20000/month (locum GP)
Y9: $20000/month (locum GP)
Cumulative total earnings of $1,178,000 without stress of residency exams and training
Compared to an internal medicine resident for example:
Y3-Y9: internal medicine residency followed by advanced IM/Geri/Renal
Average salary of $8500/month for 7 years.
Cumulative total earnings of around $714,000..
Even after exit as AC, still have to slog in hospital for years to gain experience. Cannot immediately open private clinic after exit as AC..
Meanwhile your Locum GP friend probably already opened his clinic/partnership