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MD/PhD And MD Vs. PhD: What Are The Key Differences Between A Medical Doctor And A Research Degree? Video

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As an avid Dave Ramsey fan, II often hear Dave Ramsey suggest that you should pursue a MD/PhD to avoid debt. The problem is that this is fundamentally setting you up for fundamentally different careers, and this advice drives me crazy.

So, what are the differences between the MD/PhD and or the PhD:

Financial outcomes. The financial outcomes for the MD is going to be far greater than the PhD, and likely can be greater than the MD/PhD depending on the type of career you choose with your MD. If you specialize, you will likely become much more financially secure than if you do not. Even in a lucrative PhD, like business or medicine, the returns are fundamentally different.
The research path. A PhD is focused on discovery and search, and you get to investigate things you want to discover. The MD degree is the focus on the application of knowledge in specific areas. You will do limited research.
Often people that have a PhD, are affiliated with a research organization or a university, and there are many more pluses and minuses that are affiliated with this type of association.
The MD/PhD will be a lot more competitive than the MD, simply because science is quite competitive. What I mean is that the career does not end with the degree. You will be expected to publish going forward, and this takes a special kind of person.

You can obviously switch your careers once you get a degree, but once you invest in the career, you will be much more unlikely to just do the MD route. I get why Dave Ramsey suggests to do the MD/PhD, but I would do much more investigation into the career, than to simply pursue the career based on the costs of the degree alone. You have to want to pursue that career going forward.

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Check out:


Moving For Grad School / PhD: What To Consider?
https://youtu.be/Bh6R9Hi28Uw

Failed Exam, Now Depressed: Dealing With Poor Performance In Grad School.
https://youtu.be/q1PvPpHLxdk

PhD Research Topics: Why Don’t PhD Advisors Give You A Research Topic?
https://youtu.be/PeZC2y99IKM

PhD Is Fun, Or Not?: The Day-To-Day Of PhD Research
https://youtu.be/4VHRPvPpVXg

Don’t Make This Mistake On Your PhD Application!
https://youtu.be/2XHiTM3qLig

5 Simple Tips For Doing Well On Your Grad School Comprehensive Exams
https://youtu.be/phC1puj52eA

PhD Job Market: I Have A PhD And Can't Get A Job (PhD Jobs In Business, Marketing, and Management)
https://youtu.be/IdkYmFKAGYA

How Many Years Of Coursework In A PhD / Doctorate Of Business?
https://youtu.be/4iIucp6C2Sk

16 Business PhD Programs Basics: 16 Things You Should Know Before You Do A Business School Doctorate
https://youtu.be/Rixl40n9mHo

How Do Professors Check For Plagiarism?
https://youtu.be/MqfVyUj3Zas

PhD Guilt: Feeling Guilty As A Professor When Not Doing Research / Work
https://youtu.be/WRJVX4TaS9Q

Returning To Become A Tenure-Track Professor After Taking Time Off
https://youtu.be/t3agr56vOic

PhD Rejection: Should You Be Concerned With Business PhD Rejection Results?
https://youtu.be/0z2xD5dvq9Y

Career Advice For Doctoral Students In Strategy Research
https://youtu.be/PD6QIYnrYU4

How To Have A Discussion With A Professor About Graduate School
https://youtu.be/maVNmA3XmXI

GMAT VS GRE: Which Is Easier?
https://youtu.be/Dr50uzEUi-w

When Do PhD / Graduate Programs Start? When Do You Hear Back From Grad Schools?
https://youtu.be/m523eXrrNbo

Health Insurance During Graduate School?
https://youtu.be/0DGQDMy1BqA

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