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Paying for orthodontics residency

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  • #16
    Thank you so much everyone for your advice, I really appreciate it!

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    • #17
      Tennis64364

      Orthodontics can be very personally and financially rewarding- best job in the world! It’s definitely a different grind than dentistry. If you are passionate about it- I say go for it! It’s the mental fatigue, and being “on” for 50-100 interpersonal interactions a day, but it’s really an extroverts dream. Being an associate and easily making $300k, working 16 days a month, with it being only 9-5, no call, no emergencies, minimal worry about malpractice, no running a business- easy peasy.
      But aside from that, depending on your goals and aspirations, and where you want to live, and how hard you want to work, you can make a ton of money, owning and running a practice. I started lurking on this forum a couple months ago, and I guess I was unaware of what various physicians bring home- I feel like I hit the gold mine. Not only earning, but the tax benefits of owning a business. Most times I am glad I wasn’t smart enough to go to med school 😜. Making $800k and working 12 days a month as an owner orthodontist, is pretty common. I personally know many orthodontists who make 1-2-3 million dollars a year. A close friend of mine bought a practice, grew it a ton, and sold to private equity for 13 million! He will turn 40 next years and will be looking to retire to Puerto Rico (he is an insanely hard worker!!)
      It’s not all rosy- lots of financial stress taking on the serious debt of student loans for training, but more than that, practice acquisition debt, and practice overhead- commercial realestate is expensive, and employees aren’t cheap. Many younger orthodontists feel jaded, because they don’t have the lifestyle for the first 6-10 years of their career, that they thought they might due to all the money they make going to debt service, and a longer time of “living like a resident”. But once you are established, and are ahead of that debt load, you do have a pretty big shovel to build wealth.

      On the topic of residency choice- with a school like the Georgia School of Orthodontics- understand what you are getting for the tuition cost. They are a for-profit school, and just doubled their enrollment, without change to the facility capacity or faculty. So is the actual quality of that education worth the cost of tuition? IMO- it is less than. But can make up for those deficiencies with the work you put into your education and craft- absolutely!! Some of the most successful orthodontists I know- attended lower tier programs. It also depends on the situation you go to when you graduate. If you work for a corporate entity out of school- expect it to be trial by fire, but they will pay you more, but you will earn it.

      Hope this in some way helps!!

      Comment


      • #18
        Wait, what, orthodontists need to pay for their residency? What kind of sick twisted person makes someone pay to be a resident?

        Comment


        • #19
          Originally posted by KennyPowers View Post
          Tennis64364

          Orthodontics can be very personally and financially rewarding- best job in the world! It’s definitely a different grind than dentistry. If you are passionate about it- I say go for it! It’s the mental fatigue, and being “on” for 50-100 interpersonal interactions a day, but it’s really an extroverts dream. Being an associate and easily making $300k, working 16 days a month, with it being only 9-5, no call, no emergencies, minimal worry about malpractice, no running a business- easy peasy.
          But aside from that, depending on your goals and aspirations, and where you want to live, and how hard you want to work, you can make a ton of money, owning and running a practice. I started lurking on this forum a couple months ago, and I guess I was unaware of what various physicians bring home- I feel like I hit the gold mine. Not only earning, but the tax benefits of owning a business. Most times I am glad I wasn’t smart enough to go to med school 😜. Making $800k and working 12 days a month as an owner orthodontist, is pretty common. I personally know many orthodontists who make 1-2-3 million dollars a year. A close friend of mine bought a practice, grew it a ton, and sold to private equity for 13 million! He will turn 40 next years and will be looking to retire to Puerto Rico (he is an insanely hard worker!!)
          It’s not all rosy- lots of financial stress taking on the serious debt of student loans for training, but more than that, practice acquisition debt, and practice overhead- commercial realestate is expensive, and employees aren’t cheap. Many younger orthodontists feel jaded, because they don’t have the lifestyle for the first 6-10 years of their career, that they thought they might due to all the money they make going to debt service, and a longer time of “living like a resident”. But once you are established, and are ahead of that debt load, you do have a pretty big shovel to build wealth.

          On the topic of residency choice- with a school like the Georgia School of Orthodontics- understand what you are getting for the tuition cost. They are a for-profit school, and just doubled their enrollment, without change to the facility capacity or faculty. So is the actual quality of that education worth the cost of tuition? IMO- it is less than. But can make up for those deficiencies with the work you put into your education and craft- absolutely!! Some of the most successful orthodontists I know- attended lower tier programs. It also depends on the situation you go to when you graduate. If you work for a corporate entity out of school- expect it to be trial by fire, but they will pay you more, but you will earn it.

          Hope this in some way helps!!
          Thanks so much for your post!

          Comment


          • #20
            Originally posted by HikingDO View Post
            Wait, what, orthodontists need to pay for their residency? What kind of sick twisted person makes someone pay to be a resident?
            Yea most of the programs you have to pay for, some more expensive than others. Problem is, it such a better job than general dentistry that people line up to do it, and drives up tuition cost. Supply and demand

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            • #21
              All I know is my orthodontist from my town was one of the richest dudes in town. Had to be making a million a year and that was a couple decades ago. This talk of 300k is nonsense unless you find yourself in a predatory gig.

              Comment


              • #22
                Seems crazy for an extra 50-100K a year.

                You are talking a cost of almost 1M when you figure in lost salary those 3 years.

                Say it is 100K extra. That is taxed at marginal rate so it will really be 60-65K You will be well into your 50s before you catch up.

                Now if that assumption is wrong and it is really 200-300K more or it offers a better lifestyle it may tip the scale.

                But I am in my mid 30s as well and I would have to be pretty darn miserable to go back to training!

                Comment


                • #23
                  Originally posted by HikingDO View Post
                  Wait, what, orthodontists need to pay for their residency? What kind of sick twisted person makes someone pay to be a resident?
                  The dental lobby does…

                  Comment

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