So:
I am just starting my prereqs, and I work in a bank. I make 34K in my position in said bank. It’s not a ton of money, but I pay the bills and get by ok.
So I have an interview next week which is for an assistant in a health clinic for underserved (read: poor) patients. They train you to be a medical assistant - taking patient histories, xray tech stuff, vision tests, etc. The person vacating the position is doing so b/c he is going to medschool. I’m thinking this job is perfect for me, both for getting into medschool in 2 yrs and also because it sounds interesting, which my current job is not.
the catch?
It pays only 25K. i’d be taking a 9K pay cut. Ouch.
So what do you think? Is a job like that going to help me enough with my long-term goals to justify the financial hurt involved? I have a lot of debt (credit cards, student loans, car, mortgage, etc) and taking a pay cut will mean I can’t pay down my balances. Also no eating at restaurants, or going to movies.
I hope this doesn’t seem shallow - it’s a hard decision for me. I also have a boyfriend (of 9 yrs -we co-own a condo) who is very nervous about the idea of losing income, since we already are unprepared for emergencies. luckily we don’t have kids to worry about…
I realize that no one can make this decision for me, but anybody got any gut reactions?
If you can squeeze in some volunteer work around your work and prereqs instead, I’d stay put. Pay down those balances. If you ditch the restaurants and cheapen up your groceries, you can pay them down faster. But then, I’m fairly fiscally conservative myself.
You can get some very valuable patient contact through volunteering without putting yourself financially at risk.
Some key questions to ask yourself:
1. Are you really going to make a serious effort to pay down your debt if you stay at your current job? I don’t say this in a mean way, just from experience of knowing that its easier said than done.
2. Will either job help you out in terms of being able to schedule classes in terms of flexibility? I have to think that if the previous person is leaving to go to medical school, the job must allow some flexibility in taking classes.
Other random thoughts - if you carry enough hours to be considered full time you can borrow for living expenses in addition to loans for tuition (I don’t know if you were planning on borrowing or not). This would also allow you to put your student loans in deferment while you are taking pre-reqs.
The healthcare job would certainly provide you with clinical experience and probably give you lots of volunteer opportunities. It might also give you some valuable experiences which you can use when writing your personal statement. You could also make valuable contacts in terms of LOR’s and shadowing experiences.
What is YOUR gut reaction? I quit a $45000 a year job to go back full time to take the pre-reqs. I had a house I was trying to sell and a new car that I had just bought. I depended on loans, part-time job and my fiance to get us through financially. It was VERY scary. But - it was going to be impossible to get the pre-reqs while staying at my job (and, I hated my job anyways) so I quit. It took some getting used to (especially when my new job paid $7.50/hr), but it has all paid off.
Go to the interview. You may not like something about the place and may not even want the job after the interview. Investigate when you are going to be able to schedule your classes and see which job will work better. Sit down with your boyfriend and see if there is anyway to cut expenses without having to go to the ramen noodle diet.
Good luck with your decision.
Amy
Hi there,
I would not quit the bank job for the clinic job. You need to keep making as much money as possible and tuck some away if possible. You can volunteer at the clinic later on when you have more of your pre-med coursework under your belt.
When you get into medical school, you are going to be out of the work force so front-loading with money at this point is your best bet. The hours at the bank are going to be better for you too. Keep your bank job.
Good luck and welcome to the forum
Natalie 
My gut reaction is to take the clinic job because i hate my job at the bank. they are not at all flexible about taking time for class and the commute is long, and the work is boring. however, i hate to think about entering med school with credit card balances that i will have to carry for at least 4 years. i am already trying to save money and pay down the debt…
thanks for your illuminating responses… i will still go to the interview, for the experience if nothing else.
Ahh, hating your job does add another dimension to the question. Good luck!
The other thing you could do is pick up the Tightwad Gazette at a library (you’re not a real tightwad if you buy it) and sit down together and figure how much debt you could pay off with the lower income if you made some changes.
Quote:
My gut reaction is to take the clinic job because i hate my job at the bank. they are not at all flexible about taking time for class and the commute is long, and the work is boring. however, i hate to think about entering med school with credit card balances that i will have to carry for at least 4 years. i am already trying to save money and pay down the debt…
thanks for your illuminating responses… i will still go to the interview, for the experience if nothing else.
Hm. Maybe an even better solution is to find a higher paying job somewhere nearer the college and with more flexible hours
I would pay down those debts and get that behind you. It’s going to be a long time before you start making more as a doctor than you’re currently pulling in. This will have the added benefit of setting your S.O.'s mind at ease. Taking a pay cut in your position strikes me as a bit reckless, though it’s also a bold statement that you’re dedicated to going into this field.
Quote:
My gut reaction is to take the clinic job because i hate my job at the bank. they are not at all flexible about taking time for class and the commute is long, and the work is boring. however, i hate to think about entering med school with credit card balances that i will have to carry for at least 4 years. i am already trying to save money and pay down the debt…
Despite the debt, I’d quit the bank job too. I made a similar choice when I was making about 60K yet I was VERY misearble on my job. I decided to take a fellowship at the NIH paying 22K. And I live in the DC area as a divored parent of 1 child with NO roomate or familial support in the area!!!
I glaly took the pay cut, ate peanut butter and jelly sandwiches for lunch, and didn’t buy 1 stich of new clothing for myself that year. I had my debt (primarily student loans) adjusted to reflect my new income which put them all in forbearence. When I got my income taxes back I paid off my credit card debt. And I was the happinest I’d EVER been in my professional life. The down side was that I had to delay applying to med school which really isn’t a down side when you consider I wasn’t ready based on my MCAT score and other personal issues( My father had recently died).
I’m a strong believer in being happy and right “timing” having recently completed my 3rd year at NIH (at 41K) with a publication. In my 3 years, I NEVER once looked back at leaving my “real” job. The personal satisfaction I have alone makes me feel so good about having made that financially tough choice. And I’m a much better applicant to med school this year because of my experiences. Good luck with what ever you decide!!!