"The average plumber makes as much as the average doctor" , really?
I assume somebody is using a very creative definition of one of those.
I assume somebody is using a very creative definition of one of those.
Pay for doctors is complex, because you're including FY1 and FY2 and registrars (a bunch of junior doctors) and also consultants and experienced consultants.
Here's a PDF, which appears to be undated.
(http://www.wwl.nhs.uk/library/foi/classes_of_info/whatwespen...)
120k for a GP vs 40k for a plumber.
Sources: http://www.payscale.com/research/US/People_with_Jobs_as_Phys...
http://www1.salary.com/Plumber-I-salary.html
I really expect more intelligent comments from a man as accomplished as Thiel.
- you are comparing a GP or specialist surgeon (average age... maybe 45-50) with a 'plumber I' (average age... maybe 25).
- Plumbers do a lot of cash-in-hand work that will never be declared as 'salary'
- Pay for tradespeople can vary enormously from place to place. I have noticed living in the UK for instance that tradespeople there earn far less than they do on average in the USA or Australia.
The doctor may come out ahead by 50-55 or so, but certainly not by 37. This holds doubly true if the plumber invests anything at all. 20 years of compound interest on a small base will produce a surprisingly large amount.