BUILDING THE FINANCIAL STRENGTH OF THE YOUNG DOCTOR.
Becoming a doctor is a dream for many people. As a child you pretended to be a doctor, diagnosing and treating the ailments and diseases of parents, children and animals.
At the long run there is a question that always come to mind: Is medical school worth it?
The cost of medical school is intimating plus the many years to spend.
Then this question;
Is being a doctor worth it financially?
The short answer to this question is yes.
Financially, going to medical school is profitable especially if you are able to save and invest considerable amount of money before retirement.
For a Nigerian doctor the case is not always the same, after medical school a doctor depending on your specialty is being paid a specific amount of money as salary which also depends entirely where you work, either at the private or public sector.
The earnings of a Nigerian doctor is outrageously low compared to doctors in other part of the world. For doctors who work in the public sector, their salaries are bound to increments either based on professionalism, qualifications, expertise and event duration.
Medical school subjects most medical students to constant studying, having less time for other activities.
This in its effect makes it very hard in
"building the financial strength of the young Nigerian doctor".
Medical doctors residing in areas with high cost of living finds it very strenuous to save and manage their capitals which means that a doctor shouldn't depend totally on their salary while going through medical school;
so what then should be done to improve the financial standard of every medical doctor before or after graduation.
This is a very Paramount action that should be taken to save the financial life of every young Nigerian doctor.
In the first instance, I believe that adjusting the curriculum of the medical school and including few entrepreneurial courses would go a long way to help the financial life of the young Nigerian doctor. Entrepreneurship is a short term course which one could learn and even if not immediately after graduation can help build the financial strength of the young doctor.
These entrepreneurial courses include some small scale businesses, handiworks and online works (e.g crypto currency trading, small and medium enterprises (SME) and mini importations).
Also, it is Paramount that the salary of every young Nigerian doctor be increased.
This is the most important factor in building the financial life of every young Nigerian doctor. A doctor's salary should be able to cover the cost of living associated with his everyday activities, also the standard of living of the country can help improve the financial rating of every doctor. A country like Ghana compared to Nigeria if paid the same amount to their doctors seems to earn more because of the standard of living of the country( dollar exchange).
Building the financial strength of a young Nigerian doctor is very important and so must be given immediate attention so as to tackle the after effects.
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