Watch the video for more information! Highlights are below 😀
Hi guys, How are you? 😀
Generally, doctors get paid very differently form area to area. Here we will discuss what countries pays the best so you can make the decision to live a comfortable life. Pay will be different from a junior doctor, pay in the middle to a Consultant so all three will be discussed separately.
Firstly – The Junior Doctor’s Salary
This bar graph illustrates the wage of a junior doctor in UK, USA and Australia and as a common currency, USD has been used. Although USA and Australia has quite a lead, UK is not that far behind, However, a doctor can earn up to twice as much in the US compared to UK. Why is this important? Well, as a new doctor what you earn matters a lot as you might not be financially stable as of yet. Just as a recently opened business will spend more than earnings, the beginnings could be rough and a stable income might be important.
For exact numbers and conversions please check out the video 🙂
But for a fairer comparison the Cost of living for each country should be calculated and balanced out.
Cost of Living
Personal Expenses (For a single person in a one person apartment. Higher taxes in UK compared to Australia and UK.)
- NY(US) and LDN(UK) – $18,000 per year
- SYD – U$D 16,000 per year
Taxation comparison for each country
in conclusion, UK taxes are higher, pays lesser than US and Australia. With that you can see why as a junior doctor you will be able to live a more comfortable life in USA or Australia.
Secondly – The salary in the Middle
This graph represents how the pay progresses through time for UK vs USA vs Aus. You can see all three countries converges a bit. So there will be not much difference in the middle.
Thirdly – Wage of a Consultant
Consultancy is where the three countries differ in pay significantly. As you can see US doc get paid almost 3x times than in the UK.
Again please check out the video for exact numbers and conversions.
So who is the winner?
The obvious winner is USA. The same orthopedic consultant will earn 5x higher in US. (around 100k in UK and 500K in US)
What about Australia?
Well, although Australia seems to pay somewhat similar to UK, the private practice in Australia is very well established. So ones the private practice is taken in to consideration the graph changes in to this.
The private practice in UK is not very well established. So docs have to work under a government organization called NHS and Due to this, there are limitations for the earnings. Furthermore, the NHS is understaffed leading to higher workload expected from young doctors.
To wrap up,
According to these data, the best places are US and Australia considering how Cost of living is lower, Salaries are higher and lower work stress compared to the UK.
Vidusha 