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Amara
Jun 4, 2009

oRenj9 posted:

Are you licensed to practice medicine then? I guess I'm confused as to why you would have an MD, then go on to pursue an engineering degree that earns you 1/3 of what you could make using your MD. If the position requires and MD, then it seems like it should at least pay market value for one. The fact that they are offering $85k when I thought it would be at least $100k more than that means that I must be missing something.

Depending on where you live, $85k seems like a decent starting salary for an Bio. Eng. On the other hand, it's really low for what I'd expect from a position requiring an MD. I think you're anchored to the $85k figure, so I wouldn't expect to negotiate much higher than that.

Market value for an MD is tricky. An MD who hasn't done internship literally can't practice medicine in the US (and modern medicine doesn't hire people who haven't completed a full residency), and a lot of the knowledge that companies hire doctors for comes from the experience of internship/residency. So if you're hiring a licensed doctor, you have to compete with market rate for a doctor practicing medicine. But if you're hiring a med school graduate who can't practice medicine you can offer a lot less because they can't say "screw you, I'm just going to go work as a doctor". Also, the difference between what you learn in med school (theory) and what you learn as an intern/resident (real-world decision-making / practice) is huge, similar to learning about Turing machines and NP completeness vs being sat in front of a computer and asked to write code. It sounds like the company doesn't care about the MD or the cost OP put into it, so they're offering him a bio-engineering salary. It's not totally fair, OP does have more knowledge about medicine than a usual bio-engineer, and it sounds like that would be useful for this job, but if they can get away with paying less (because OP has no other offers, can't ditch for straight medicine, and would have similar offers from other engineering jobs), they'll probably just pay less.

If you want to know your value, apply to many places and have them bid against each other. Everything is worth what its purchaser will pay for it.

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