How is life as a doctor in Singapore?

Originally Posted by Unregistered

Wow, even net of rental, staff and medicine cost, still low 7 figures? That's awesome!
But non specialists dun have to despair, can like me invest in landed property and retire early too!

Don't buy wrong property like the Forest Sillies.

Originally Posted by Unregistered

Hard to gauge because non specialist is a broad term. I know of aesthetic friends making more than 500k p.a. in their 30s and GPs struggling to clear 25k p.m. in their 50s. But generally aesthetics is a step up the income ladder. Even employed docs in an aesthetic chain make more than their GP friends

This is literally me now in aestheticss. People keep saying will get sued and what not but I havent faced any such issues

Originally Posted by Unregistered

That’s lower decile when you compare with other doctors.. I am just a lowly psychiatrist in a private medical group, and I am already making 350k all-in for 5.5 days of work. Got full specialist reg. in 2021, left public just recently.

Some of my peers in more lucrative specialities making more than 500k all-in; an ortho guy is making 700k all-in.

You are higher decile when compared to the general singaporean population, but lower decile in the medical field

I think one has to realize that if he/she make the decision to become GP/FP (not aesthetics),their pay ceiling will always be lower than their specialist counterparts. This is especially so if one chooses to be employed rather than self-employed (i.e open own clinic)

I make around 220-230k/year now as a employed GP, working largely office hours. (This is not starting salary, worked for almost 8-9 years with a private group)
Probably the lowest of the lowest in the medical salary hierarchy at my age (early 40s), but I can still feed myself. Parents have unfortunately passed on, and I am single, so I am not into building any legacy wealth. All my wealth probably goes back to the state when I die, as I am only child (no siblings)

I am still paying my condo (2bedder) mortgage. Currently living in the HDB which I inherited after both parents passed on. I doubt I can ever reach landed property, also hard for me to upgrade my condo without paying absd. (As realistically I need to sell both my HDB and condo before upgrading)

I did think if I should take the leap of faith and set up a clinic during COVID times, (will probably involve me depleting most of my existing savings or selling my condo to raise funds), but eventually decided against the risk. So on may I continue with 230k salary/year, which to be honest is sufficient for a single.

Purpose of my post- not everyone can reach a million dollar/year salary as everyone has different ability, luck/opportunities etc.... Important not to feel disheartened if you can't achieve this. Unfortunately the medical fraternity has many alpha/competitive and smart people, (also contributed by their educational background as most are from elite schools), and it's very easy to feel burnt out and stress/have inferiority complex as a result.

Originally Posted by Unregistered

I think one has to realize that if he/she make the decision to become GP/FP (not aesthetics),their pay ceiling will always be lower than their specialist counterparts. This is especially so if one chooses to be employed rather than self-employed (i.e open own clinic)

I make around 220-230k/year now as a employed GP, working largely office hours. (This is not starting salary, worked for almost 8-9 years with a private group)
Probably the lowest of the lowest in the medical salary hierarchy at my age (early 40s), but I can still feed myself. Parents have unfortunately passed on, and I am single, so I am not into building any legacy wealth. All my wealth probably goes back to the state when I die, as I am only child (no siblings)

I am still paying my condo (2bedder) mortgage. Currently living in the HDB which I inherited after both parents passed on. I doubt I can ever reach landed property, also hard for me to upgrade my condo without paying absd. (As realistically I need to sell both my HDB and condo before upgrading)

I did think if I should take the leap of faith and set up a clinic during COVID times, (will probably involve me depleting most of my existing savings or selling my condo to raise funds), but eventually decided against the risk. So on may I continue with 230k salary/year, which to be honest is sufficient for a single.

Purpose of my post- not everyone can reach a million dollar/year salary as everyone has different ability, luck/opportunities etc.... Important not to feel disheartened if you can't achieve this. Unfortunately the medical fraternity has many alpha/competitive and smart people, (also contributed by their educational background as most are from elite schools), and it's very easy to feel burnt out and stress/have inferiority complex as a result.

No need to have inferiority complex. Just run yr own race and compare against yrself.

If keep comparing with others, there will be no end, unless u r Elon Musk or Mark Zuckerburg.

Originally Posted by Unregistered

I think one has to realize that if he/she make the decision to become GP/FP (not aesthetics),their pay ceiling will always be lower than their specialist counterparts. This is especially so if one chooses to be employed rather than self-employed (i.e open own clinic)

I make around 220-230k/year now as a employed GP, working largely office hours. (This is not starting salary, worked for almost 8-9 years with a private group)
Probably the lowest of the lowest in the medical salary hierarchy at my age (early 40s), but I can still feed myself. Parents have unfortunately passed on, and I am single, so I am not into building any legacy wealth. All my wealth probably goes back to the state when I die, as I am only child (no siblings)

I am still paying my condo (2bedder) mortgage. Currently living in the HDB which I inherited after both parents passed on. I doubt I can ever reach landed property, also hard for me to upgrade my condo without paying absd. (As realistically I need to sell both my HDB and condo before upgrading)

I did think if I should take the leap of faith and set up a clinic during COVID times, (will probably involve me depleting most of my existing savings or selling my condo to raise funds), but eventually decided against the risk. So on may I continue with 230k salary/year, which to be honest is sufficient for a single.

Purpose of my post- not everyone can reach a million dollar/year salary as everyone has different ability, luck/opportunities etc.... Important not to feel disheartened if you can't achieve this. Unfortunately the medical fraternity has many alpha/competitive and smart people, (also contributed by their educational background as most are from elite schools), and it's very easy to feel burnt out and stress/have inferiority complex as a result.

Just run yr own race and compare against yrself. No need to feel inferior.

If you keep comparing, there will be no end unless you r Elon Musk or Mark Zuckerberg...lol

No need to feel inferior. Keep comparing also no end unless you r the richest man on earth like Elon Musk.

Originally Posted by Unregistered

No need to feel inferior. Keep comparing also no end unless you r the richest man on earth like Elon Musk.

Or the richest dr in Sg...Dr Loo Choon Yong, boss of RMG and billionaire.

Originally Posted by Unregistered

I think one has to realize that if he/she make the decision to become GP/FP (not aesthetics),their pay ceiling will always be lower than their specialist counterparts. This is especially so if one chooses to be employed rather than self-employed (i.e open own clinic)

I make around 220-230k/year now as a employed GP, working largely office hours. (This is not starting salary, worked for almost 8-9 years with a private group)
Probably the lowest of the lowest in the medical salary hierarchy at my age (early 40s), but I can still feed myself. Parents have unfortunately passed on, and I am single, so I am not into building any legacy wealth. All my wealth probably goes back to the state when I die, as I am only child (no siblings)

I am still paying my condo (2bedder) mortgage. Currently living in the HDB which I inherited after both parents passed on. I doubt I can ever reach landed property, also hard for me to upgrade my condo without paying absd. (As realistically I need to sell both my HDB and condo before upgrading)

I did think if I should take the leap of faith and set up a clinic during COVID times, (will probably involve me depleting most of my existing savings or selling my condo to raise funds), but eventually decided against the risk. So on may I continue with 230k salary/year, which to be honest is sufficient for a single.

Purpose of my post- not everyone can reach a million dollar/year salary as everyone has different ability, luck/opportunities etc.... Important not to feel disheartened if you can't achieve this. Unfortunately the medical fraternity has many alpha/competitive and smart people, (also contributed by their educational background as most are from elite schools), and it's very easy to feel burnt out and stress/have inferiority complex as a result.

Tbh it is also not true that GP/FP cannot be rich. The income is still considered high and if one is prudent in the right investments, it is definitely possible to accrue substantial wealth. If you had consistently invested 150k a year into the snp500 every single year since 2014, you would have 3.7 miliion dolllars today. However, it is easier to reach a higher net worth figure as a specialist but it definitely comes with its own sacrifices

Originally Posted by Unregistered

Or the richest dr in Sg...Dr Loo Choon Yong, boss of RMG and billionaire.

My hubby and I were so honoured to have a photo taken with him.

Originally Posted by Unregistered

I think one has to realize that if he/she make the decision to become GP/FP (not aesthetics),their pay ceiling will always be lower than their specialist counterparts. This is especially so if one chooses to be employed rather than self-employed (i.e open own clinic)

I make around 220-230k/year now as a employed GP, working largely office hours. (This is not starting salary, worked for almost 8-9 years with a private group)
Probably the lowest of the lowest in the medical salary hierarchy at my age (early 40s), but I can still feed myself. Parents have unfortunately passed on, and I am single, so I am not into building any legacy wealth. All my wealth probably goes back to the state when I die, as I am only child (no siblings)

I am still paying my condo (2bedder) mortgage. Currently living in the HDB which I inherited after both parents passed on. I doubt I can ever reach landed property, also hard for me to upgrade my condo without paying absd. (As realistically I need to sell both my HDB and condo before upgrading)

I did think if I should take the leap of faith and set up a clinic during COVID times, (will probably involve me depleting most of my existing savings or selling my condo to raise funds), but eventually decided against the risk. So on may I continue with 230k salary/year, which to be honest is sufficient for a single.

Purpose of my post- not everyone can reach a million dollar/year salary as everyone has different ability, luck/opportunities etc.... Important not to feel disheartened if you can't achieve this. Unfortunately the medical fraternity has many alpha/competitive and smart people, (also contributed by their educational background as most are from elite schools), and it's very easy to feel burnt out and stress/have inferiority complex as a result.

Also u must understand the resources people have access to are vastly different. Some people's parents have money send them to UK/Aus, specialise then come back to sg to reap rewards as specialist, some people got connectiions easy to get into residency, some people so rich got BMW to drove to hospital even as a HO. It is not a fair starting point so dont be too hard on yourself