Lol? Did someone say 300k a year? I can tell you in all confidence that most doctors don't earn anywhere near that after tax and expenses.
My father is a Neurologist.
From this family experience I can personally tell you advantages and disadvantages:
DISADVANTAGES:
- super long training, uni, etc. Very expensive training also.
- work at the practice is quite demanding (I work a shift a week as secretary and I find it super hectic!) If your a GP you can't charge much per consultation so you really have to see a lot of patients to make a living especially if your renting a practice. Also people will always bitch to you about bulk billing them
- Generally a condition that comes with working at hospitals is that you are forced to be 'on-call'... which means on random specified time-periods (in the week) they can ring you for advice. This includes 4am in the morning. This also includes being rung by the latest intern who can't speak english properly and doesn't realise that they're ringing the wrong doctor.
- LOTS of expenses: insurance, secretary, rent for rooms, attendance at international training conferences, medical journal subscriptions blah blah
- You WORK for a living. The moment you stop the money does too.
- No super, no personal life insurance, no holiday/sick leave, no car allowance etc... absolutely none of the benefits that you'd get earning a salary at a company.
ADVANTAGES
- Especially if your not a GP, you'd be earning above highest tax bracket so long as your working.
- You can claim stationary, fuel, other expenses as business expenses (tax deductable)
- Due to your hospital reputation/service you can get extra-good healthcare for your family.
- Those bloody cool pens/accessories from drug companies!!
- Respect
- Dr. in front of your name
My judgement:
Only do it if you like medicine. Seriously, and I mean, very seriously. This is one job that you don't do for money. You must like the style of work - intensive, yet rewarding on different levels. Medicine is a career that generally requires you to be dedicated to your work, ie put a generally strong emphasis in your life on work above other aspects.
If you are in it for money then let me tell you, there are much better ways to earn 100k+ a year.