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PaperclipPerfector  6mo ago (text post)   25597 thread views

Culture War Roundup for the week of May 20, 2024

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Do the math. When do similar high education fields start cracking a million? I'm not talking about a partner at McKinsey or a top level google engineer. I'm talking an average person in consulting, finance, or tech making low six figures.

It's interesting you ask this. Of course, the average person working in consulting, finance, or tech will never make six figures.

4.5% is a lot of money in real dollar terms but it is a drop in the bucket in terms of percentage and you know it.

There are more than 22 drops in a normal bucket (100%/4.5%). I agree that 4.5% isn't a silver bullet for solving American health care costs, but it's a start, and American physicians would still make twice as much as their European counterparts under this new regime.

If you halved salaries then a lot of specialties would die on the spot. Nobody is going to procedural work or surgeries of any kind in the U.S. under that model.

I think this is simply detached from reality. The average American orthopedic surgeon makes $573k / year per here. Are you really suggesting that nobody would do it for just $286k / year? I assume people would still be falling over each other to compete for the spots.

And we don't need to theorize what would happen if you just increased the supply. We already did that with mid levels. They made the problem worse.

You seem to be suggesting that the law of supply and demand doesn't apply to health care, i.e., that there's some bank shot argument whereby we should expect increasing the number of doctors to increase the costs of the services they provide. Can you make this case more explicitly?

It's interesting you ask this. Of course, the average person working in consulting, finance, or tech will never make six figures.

You kidding me? Starting salaries in many jobs in those fields are six figures these days.

Same with the other post, I just don't think you have any idea what you are talking about.

Sure, I don't doubt that many of the people you think about in consulting / finance / tech at even 2nd-rate places like Accenture / Deloitte / Oracle will make six figures as starting salaries.

Still, statistics show that the average American working in the consulting, finance, or tech industries will never make six figures - even if we restrict attention to the college educated. I think you're just really out-of-touch to not recognize that. This is wrong. Maybe I'm the one who's out of touch. The median American salaries in tech and finance are both around $100k, suggesting that most people will attain them at some point. The median consulting salary is still lower than $100k.

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