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Financial Aspect !


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Hello All 

 

I am currently working in Nuclear medicine Field as a Tech which pays fairly well in nevada ($38-40 / hour ). however jobs are very limited and no where in the state pays as well. I have always wanted to be PA ever since I started Nuc Med. I love the freedom of being a PA, Patient care aspect and the freedom to move around the state without worrying about finances.  I have two concerns and Im hoping to get some insight from PA's currently working

 

1. I had a hard time finding a job when I graduated in 2010 . How's the PA job market ?

2. Not only I will be acquiring over $80 k loans and spending my saving but also losing a 75k income for two years. would I be able to recover and come ahead in few years after graduation ? according to AAPA salaries, I shouldn't have any issues but not sure how realistic the reports are .

 

 

Thank you all so very much for all your inputs !   

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Hello All

 

I am currently working in Nuclear medicine Field as a Tech which pays fairly well in nevada ($38-40 / hour ). however jobs are very limited and no where in the state pays as well. I have always wanted to be PA ever since I started Nuc Med. I love the freedom of being a PA, Patient care aspect and the freedom to move around the state without worrying about finances. I have two concerns and Im hoping to get some insight from PA's currently working

 

1. I had a hard time finding a job when I graduated in 2010 . How's the PA job market ?

2. Not only I will be acquiring over $80 k loans and spending my saving but also losing a 75k income for two years. would I be able to recover and come ahead in few years after graduation ? according to AAPA salaries, I shouldn't have any issues but not sure how realistic the reports are .

 

 

Thank you all so very much for all your inputs !

1. Plenty of PA jobs-- for now. Will probably need to reevaluate that in 5-7 years.

 

2. So basically you are talking about giving up $230k+ plus living expenses/savings-- may end up being around $300k lost for a $10 hr raise for the first several years. That would be tough for me to do. Why not go to Medical school? If you are taking that pay cut... Do that. You could have a sweet job as not too many people have nuc med experience.

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From a pure financial standpoint, you'd probably be slightly better off in Nuclear Medicine and invest the extra cash. However the job market for PAs is very strong and you would undoubtedly be able to make up the difference with more autonomy in the long run. We have a guy in our class who was making 115k in the industrial sector before starting the program. He may never make up his investment. But he is truly passionate about people and hell bent about becoming a PA. It ultimately comes down to what you want to do with the little time you have on this earth.

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  • 3 weeks later...

I am also a Nuc Med Tech trying to get into PA school, so I really hear what you are saying. The Nuc Med job market is super tight and it looks like it is only goining to get tighter. Everybody wants you to be dual (or triple) certified in MRI, CT, or general x-ray without paying you for it. I truly feel that PA school is the way to go if you can be okay with giving up your Nuc Med (money) job. I hope to trade my Nuc Med job for PA school soon!!

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I am also a Nuc Med Tech trying to get into PA school, so I really hear what you are saying. The Nuc Med job market is super tight and it looks like it is only goining to get tighter. Everybody wants you to be dual (or triple) certified in MRI, CT, or general x-ray without paying you for it. I truly feel that PA school is the way to go if you can be okay with giving up your Nuc Med (money) job. I hope to trade my Nuc Med job for PA school soon!!

which state are you in ?

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Radiology is a disaster, the job market stinks, and it's looking like it's only going to get worse. I traded my 80k CT job for PA school and have no regrets. Yes it will take me 7 years or so to recover my investment but the challenge and job satisfaction will make up for it. Good luck.

Tell me about it ! My hospital is planning to go from a 9-7 pm department schedule to a 24 hour operation with only adding 2 more techs ! amazingly this is taking place in Jun right when i start PA school so lets just say most of my co-workers envy my situation   

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I'm a little late to the discussion here, but here's my take.

 

Too many health-care programs (MD/DO, PA, nursing, Nuc, tech, etc) in some areas are driving down the pay.  Worse yet, many of these areas are high cost areas.  $60/hour to be a PA in NYC area doesn't give you much of a quality of life, especially if you're coming out $150K+ in student loan debt.  EVEN WORSE, I believe many of these schools are wayyyyyy overpriced.  According to (http://www.thepalife.com/2015-physician-assistant-program-tuition-and-cost-comparison-table/) the cost of PA programs range from $36K at Butler University in Indiana to OVER $130,000.  Long Island University is listed at $106K.   Now, compare the cost of living near Butler University Indiana with the cost of living near Long Island University.

If Long Island University students would move and go to Butler University instead they could probably save themselves $120,000 over two years.  

 

Then, instead of moving back to the incredibly high cost of living New York City area, move to an underserved rural area.  Instead of making $60/hr as a PA in costly NYC, you can make $70+ an hour in many rural areas and your money will stretch much further.

 

I am hearing about too many PA students graduating with $150-$250K in debt.  That is craaaaazzzzzyyyyyyy........ 

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I'm a little late to the discussion here, but here's my take.

 

Too many health-care programs (MD/DO, PA, nursing, Nuc, tech, etc) in some areas are driving down the pay.  Worse yet, many of these areas are high cost areas.  $60/hour to be a PA in NYC area doesn't give you much of a quality of life, especially if you're coming out $150K+ in student loan debt.  EVEN WORSE, I believe many of these schools are wayyyyyy overpriced.  According to (http://www.thepalife.com/2015-physician-assistant-program-tuition-and-cost-comparison-table/) the cost of PA programs range from $36K at Butler University in Indiana to OVER $130,000.  Long Island University is listed at $106K.   Now, compare the cost of living near Butler University Indiana with the cost of living near Long Island University.

 

If Long Island University students would move and go to Butler University instead they could probably save themselves $120,000 over two years.  

 

Then, instead of moving back to the incredibly high cost of living New York City area, move to an underserved rural area.  Instead of making $60/hr as a PA in costly NYC, you can make $70+ an hour in many rural areas and your money will stretch much further.

 

I am hearing about too many PA students graduating with $150-$250K in debt.  That is craaaaazzzzzyyyyyyy........ 

 

But....if I hate my life living and working in a rural underserved area, the money won't make it better. 

 

And we can't ALL go to Butler.  Getting in to school is a numbers game....sometimes you have to go where you are accepted regardless of the price tag.

 

I get what you're saying; just playing devil's advocate a little.  The programs definitely have the upper hand.

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But....if I hate my life living and working in a rural underserved area, the money won't make it better. 

 

And we can't ALL go to Butler.  Getting in to school is a numbers game....sometimes you have to go where you are accepted regardless of the price tag.

 

I get what you're saying; just playing devil's advocate a little.  The programs definitely have the upper hand.

 

Agreed.  I'm personally very glad that most young PAs prefer the bustling city.  Keeps the rural game paying bettter!  

 

No, we can't ALL go to Butler.  But there are a lot of  schools below the median price. NOBODY should pay $100K for PA school.  That's just stupid.  

 

The programs only have an upper hand on a relatively small number of applicants.  The greater the number of schools you apply to the better hand you will be dealt.

 

I applied to 13 schools (including Duke because, well...it's Duke).  I got interview invites from 11 of them.  I went to 4 interviews (3 in person, including Wake Forest, a did another over the phone) and was accepted to all 4.    

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  • 4 weeks later...

Rural healthcare isn't for everyone. Only those that want to make more money and have more autonomy. Also rural does not mean living in blue ridge mountains without a cellphone (even though that sounds pretty attractive sometimes). For example where I am you can be 25 minutes from the state capital of NC and be in a rural underserved area. I'd just encourage those thinking about the PA profession not to knock rural healthcare before they tried it. Or don't, like the previous poster said, keeps opportunities plentiful for those who understand the value.

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Hey everyone! Does anyone know if larger hospitals or specialties do loan forgiveness/tuition reimbursement (other than VA or rural areas)? Trying to decide how I should do my loans. Any help is appreciated!

 

Not likely, based on my experience.  Big hospitals are more likely to offer tuition reimbursement for current employees that are actively working on a degree that the hospital can use (and may require continued commitment to work there).  It doesn't really benefit them to help you pay your loans.  You may be able to negotiate a signing bonus that you could use towards loans.

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