Do PhD or MD make more money?
Asked by: Ms. Sunny O'Reilly DDS | Last update: January 27, 2026Score: 4.2/5 (47 votes)
Generally, an MD (Doctor of Medicine) leads to significantly higher earning potential than a standard PhD, especially in clinical specialties like surgery or cardiology, due to direct patient care income, though MDs face substantial student debt. While a PhD offers lucrative paths in research, academia, or industry (like data science/biotech), it usually doesn't match the peak earnings of a physician, but PhD careers often involve less debt and more flexible hours, with MD-PhDs bridging research and clinical roles but typically earning less initially than MD-only graduates.
Who makes more money, PhD or MD?
Financial Considerations: MDs typically have higher earning potential, but PhD graduates can secure research funding and academic positions. Work-Life Balance: MDs often work long hours in clinical settings, while PhD careers may offer more flexible schedules depending on the research environment.
Is it better to get an MD or PhD?
An MD prepares you for the hands-on, fast-paced world of clinical medicine, where patient care is your primary focus. On the other hand, a PhD offers a quieter, yet equally exciting path in research and academia, where you can focus extensively on solving scientific problems.
Do doctors with PhD get paid more?
The national average for MD/PhDs is around $112,400 per year. The salary is fairly smaller than for MDs and specialists because MD/PhDs often work in research and non-profit settings, rather than practice medicine. Accordingly, MD salary bonuses may not be eligible.
Is an MD-PhD harder than an MD?
MD-PhD training is more intense than standard medical school. Students take additional coursework, typically in the biomedical sciences, rotations in different laboratories, and intensive research.
20 PhD students reveal what a PhD is REALLY like
Does a PhD or MD take longer?
An average bio PhD probably takes 5-6 years, while for MD/PhD students the PhD phase is closer to 4 years. MD/PhDs also have similar time to first R01 compared to PhD-onlys and MD-onlys. As for the overall length of training and the rigor, IMO it's simply because medicine and science have become more complicated.
Who is the youngest PhD ever?
The youngest person to earn a PhD is generally recognized as Karl Witte, a German prodigy who received his doctorate at just 13 years and 283 days old in 1814 from the University of Giessen, though records from that era differ from modern standards. More recently, Dorothy Jean Tillman (age 17) and Mike Wimmer (age 16) are notable for achieving doctorates at very young ages in the U.S., though Witte holds the historical record.
How much does a 5 year PhD cost?
A 5-year PhD can cost anywhere from $0 to over $200,000, largely depending on funding, with many programs fully funded through stipends and tuition waivers, while unfunded programs average around $49,500/year for tuition and living expenses, but most STEM PhDs are funded. Key factors are the university (public vs. private), location, field of study, and available assistantships (RA/TA), with many PhD students graduating debt-free due to financial aid.
Is a 3.7 GPA good enough for PhD?
Yes, a 3.7 GPA is generally considered a very good GPA for PhD admissions, strong enough to get you considered at many reputable programs, with many expecting 3.5+; however, its competitiveness depends on your field, program tier (top programs often see 3.8+ averages), and other factors like research experience, recommendation letters, and statement of purpose, which become even more crucial above the minimum 3.0-3.5 threshold.
Can you live off of your MD-PhD stipend?
As to living on the stipend, this is location and program dependent. Some programs have better stipend to cost of living ratios, which make it easier to live on. I also know that it's possible to take out loans to supplement the stipend if needed.
Is MD-PhD worth it financially?
Financially, an MD/PhD is a trade-off: you avoid significant medical school debt and get a stipend for 7-8 years, but you delay full attending income by about four years compared to an MD-only path, potentially missing out on substantial early career earnings and compound interest. The financial value depends heavily on career choice (academia vs. industry vs. full clinical practice) and whether you prioritize long-term research impact or faster wealth accumulation; it's generally less lucrative than a pure MD path but offers unique career flexibility and potential in industry or academia.
What is the failure rate for PhD?
PhD failure (attrition) rates are high, often cited as 30% to 50%, with many students not completing their degrees, especially in the U.S. and Europe, though rates vary significantly by country, university, and field of study (humanities often having higher attrition than STEM). Common reasons for not finishing include poor advisor fit, scope creep, procrastination, mental health struggles, funding issues, and life changes, rather than just lack of ability.
What is the lowest rank of doctors?
The lowest rank of a practicing doctor is typically an Intern (first-year resident) or a Foundation Year 1 (FY1) doctor in the UK, immediately after medical school, who provides basic care under supervision; below them are Medical Students, who are still in training and cannot make medical decisions. The "lowest" position depends on whether you mean post-medical school training or the entire hierarchy, with medical students being at the bottom before they graduate and start their internship/residency.
What are the disadvantages of an MD-PhD?
The disadvantages of this approach include taking longer to finish training and the likely need to cover the cost of medical school on your own. I am frequently asked about the strategy of starting medical school and then applying to graduate school as a medical student.
What PhD has the highest salary?
The highest-paying doctorate degrees are often in STEM and business, with Computer Science, Engineering (Electrical, Chemical, Biomedical), Physics, Economics, and Statistics leading the list, frequently landing graduates in high-earning roles in tech, finance, or research, while professional doctorates like Medicine (MD) and Pharmacy (PharmD) offer top salaries, especially in specialized fields, with some professionals earning well over $200k annually.
Can I get a PhD with a 2.7 GPA?
Yes, you can get into a PhD program with a 2.7 GPA, but it's challenging and requires demonstrating readiness through other means, like strong research, glowing recommendations, a compelling personal statement, and excellent performance in subsequent coursework or master's programs to offset the low GPA. While many programs prefer GPAs of 3.0 or higher, especially top-tier ones, some schools consider applicants with sub-3.0 GPAs, especially if you show strong potential and commitment in your field.
Is a 3.7 GPA enough for Harvard?
A 3.7 GPA is generally considered low for Harvard, as admitted students typically have GPAs above 3.9 (unweighted) or 4.1 (weighted) and are in the top 10% of their class, but getting in with a 3.7 is possible if you have extraordinary extracurriculars, unique achievements, or strong essays to compensate, though it's statistically very difficult given Harvard's holistic review and ~3-4% acceptance rate.
What is the lowest acceptable GPA for med school?
Most U.S. medical schools—both MD and DO—have average accepted GPAs well above 3.5, so a 2.3 typically falls far below the minimum threshold for serious consideration.
What's the average age for a PhD?
What age do most people get their PhD? The age at which most people receive their PhD varies from person to person, but typically falls between the mid-twenties and early thirties. The average age for a PhD recipient is approximately thirty-one and a half years old.
What jobs can you get with a PhD?
After a PhD, jobs range from traditional academic roles (professor, lecturer) to diverse non-academic careers in industry (data science, R&D, biotech), government (policy analysis, civil service), and alternative fields like consulting, science communication, tech, non-profits, and even entrepreneurship, leveraging transferable skills like critical thinking, problem-solving, and project management. Many PhDs find success by focusing on their skills (e.g., data analysis, research, communication) rather than just their specific topic to explore various sectors like tech, pharma, or consulting.
Are PhDs fully funded?
While all PhD programs have their own unique funding packages, many fully funded programs are designed to help students cover a variety of costs.
Who is the 17 year old girl with a PhD?
A Chicago teenager named Dorothy Jean Tillman has just become the youngest person in the world to obtain a PHD doctorate at the age of 17. - She took her first university course at the age of 10. - At the age of 14, Dorothy Jean Tillman had obtained an associate diploma, a bachelor's degree and a master's degree.
What is the quickest someone has completed a PhD?
Alessio Figalli did his PhD in one year.
Who is the youngest doctor ever?
The youngest doctor ever is Dr. Balamurali Ambati, who earned his M.D. from Mount Sinai School of Medicine in 1995 at the age of 17 years and 294 days, setting a Guinness World Record that he still holds. Ambati's accelerated education included graduating high school at 11 and college by 13, allowing him to complete medical school at a remarkably young age, and he now works as an ophthalmologist.