The question should be why does everyone else make so little. Seriously, if $350,000 is the expected pay after up to 12 years of higher-education and residency, then someone with a 4-year degree should be making about $110,000, which would be slightly double what minimum wage should be ($25 an hour) if it kept up with cost of living and inflation. This is what a prosperous country should expect.
this post was submitted on 14 Aug 2023
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TL;DR: We’re not training up new doctors in high enough quantities, and we have a supply / demand problem.
You might consider the amount of money owed after completing the medical degree. They get that salary to pay back loans.
That’s also addressed in the article.
Laziness.
The barriers to entry are high: 4 years of undergraduate education, 4 years in med school, 3 to 7 years of residency. Those years are very expensive, with the average med school graduate student piling up $250k of student loans. And if you've ever watched a friend go through med school and residency you'll know it's life-consuming; they are immersed in work and miss out on years of socializing and culture. The payoff at the end had better be commensurate or nobody will be a doctor.