Choice quote: "As in Medscape's 2011 survey, the highest-earning physicians practice in the North Central region, comprising Iowa, Missouri, Kansas, Nebraska, and South and North Dakota; the mean income of physicians there is $234,000. The next-highest earners were doctors in the Great Lakes region ($228,000). Physicians in the Northeast earned the least, at a mean of $204,000."
As for attorneys, I said BIGLAW. Not "get local joe bob out of jail." (But law does have a bifurcated career path, i.e. T14 or bust these days.)
I note your silence about hedge fund analysts.
Here are the people who are paid in accordance with COL: labor. Programmers seem to think of themselves as laborers, despite having the intellectual caliber to be professionals. Or maybe I am overestimating my tribe. Perhaps we just anemic right hemispheres in our brain, leading to savant-like abilities in the left, leading to the warm embrace of pathetic compensation.
First, let me start off by clarifying that I didn't imply that pay should be based on cost of living. Rather, that I believe it's more market forces at work, but that cost of living plays a huge factor in that.
From the article you linked, that statement is reinforced:
"There's less competition among physicians in smaller communities and rural areas," says Bohannon. "There isn't that same downward pressure on reimbursement that you have in metropolitan areas. Generally, smaller communities have to pay more to attract physicians."
This is the market at work. It doesn't matter what the cost of living is in those areas, what matters is the demand for the position.
I also can't ignore that that study is done against 'regions' so large that the cost of living within any of those regions probably swings wide in both directions. This is to say that a doctor in the "Northeast region" could either be in NYC, or way up in the Aidirondacks. Both New York state, both factoring into the ranges on the study, but huge differences in CoL. If you have something more specific, I'm happy to be proven wrong, but in my experience, I don't have anything to refute it.
Regarding BIGLaw, I wasn't referring to ambulance chasers either, but I concede that I don't personally know of any biglaw attorneys that have jumped locality. I also don't know anybody in hedge fund analysts, nor do I know anything about the job market.
Choice quote: "As in Medscape's 2011 survey, the highest-earning physicians practice in the North Central region, comprising Iowa, Missouri, Kansas, Nebraska, and South and North Dakota; the mean income of physicians there is $234,000. The next-highest earners were doctors in the Great Lakes region ($228,000). Physicians in the Northeast earned the least, at a mean of $204,000."
As for attorneys, I said BIGLAW. Not "get local joe bob out of jail." (But law does have a bifurcated career path, i.e. T14 or bust these days.)
I note your silence about hedge fund analysts.
Here are the people who are paid in accordance with COL: labor. Programmers seem to think of themselves as laborers, despite having the intellectual caliber to be professionals. Or maybe I am overestimating my tribe. Perhaps we just anemic right hemispheres in our brain, leading to savant-like abilities in the left, leading to the warm embrace of pathetic compensation.