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Are all Alix titles / JDs generic like this?
No.
It’s due to so many years of delayed gratification and staying in school for too long before getting professional experience. A lot of doctors don’t choose to pay off their loans quickly and instead feel the urge to splurge right after their income jumps 5-10x post residency. They also don’t work in the “real world” until their late 20s and not often in big team scenarios. Corporate folks build up to a 300k+ income gradually over time, so spending habits are probably more controlled.
Yeah like my first year at $75K Fresh out of college, I saved zero dollars and then I started to improve my spending habits
Chief
It's because doctors have more friends with similar incomes. If you're a doctor, chances are everyone you went through med school with ends up having a good income. Whereas if you're a partner at MBB, you don't necessarily know that many other wealthy people outside of your coworkers and your friends from university aren't necessarily as successful as you are.
Chief
I'm sure it's been done, might be possible if you have significant work experience without having a degree. Could definitely see it for Expert track
Rising Star
Hmm, don‘t know enough of doctors to really observe a trend. I know a few but they are very down to earth. I know partners who are down to earth but also others who have a corvette. So my initial guess would be that it‘s just a very limited n
A corvette is a poor man’s Ferrari 😜
idk. the partners may be just not able to enjoy as much. I know dentists very personally as well as orthopedic specialists. they have way better wlb and pay better than base as partner at mbb. but some college fair recruiter convinced me the 8-11 life was for me 🥲
carry in a fund vc/ge/pe.
Chief
Also, once you factor in how long med school takes and costs, I imagine an MBB/Big 4 partner would have much higher lifetime earnings than an MD.
Partner at 32 is reasonable. Partner at 30 is an insane outlier.