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Originally Posted by mntlblok
I'll bet I missed something. 500k and relatively low compensation would apply to a different world from where *I* hang out. You've got me right curious. . .
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It's a different world from where I hung out when I was practicing as well. But times have changed. Like any shortage, offers go up to compete for available resources, in this case physicians. It looks like everything is starting to get ridiculous----$15.00/hr minimum wage for flipping burgers at Micky D's? UAW, whose high school educated (maybe) factory assembly workers, may have the most ridiculous demand.
As of now, "The average compensation for a union auto worker, including wages, bonuses, overtime, and paid time off, is about $40 an hour. When benefits such as health insurance and pensions are added, the average compensation increases to about $55 an hour1. Union members may also enjoy other benefits such as a pension plan, education and training opportunities, tenure, and legal representation in work-related matters" Based on a 40 hour work week, that's compensation of $110,000 per year. They now are demanding a 40% pay increase and a 4 day work week. Imagine the price of a car if the big 3 give in to that garbage.
So, while $500,000 seemed high for a general internist, if an uneducated factory worker in Detroit might get pushed to $170,000/year, it seems reasonable in perspective.