. With the institution of formalized training and strict professional certification, physicians gained more respect and were more widely used in the modern world. The medical professions are undergoing a downsizing process similar to that of many other industries. Medical schools are placing a greater emphasis on general knowledge, although there is still a need for specialists. The growth of managed care has increased the demand for obstetricians, pediatricians, and family practitioners who can treat a wide variety of ailments and look after the health of a large number of patients. Medical schools themselves are getting smaller, and some states have closed down entire medical programs for lack of funds. Two Years Out: Residents work long hours and are expected to put their classroom experience into practice right away. Doctors must quickly learn the difference between books and people. Interns and residents work under the supervision of other doctors. Although resident's hours have traditionally been very long, hospitals have recently begun reducing the schedules of their young doctors. After satisfying residency requirements, a doctor can strike out on her own as a full-fledged medical practitioner. Wherever you work, you'll spend much of your salary paying off student debt, which can exceed $100,000. Five Years Out: In private practice, a full partnership usually comes after five years. You have a vested interest in attracting and keeping patients. In addition to your clinical responsibilities, you will have the management duties that come with running any business. University-hospital based physicians may work their way up the faculty ladder, devote more time to clinical work, or spend their days in the lab conducting research. Doctors at HMOs can look forward to some vested interest in their organization. Ten Years Out: Experienced doctors, whether general practitioners or a specialists, command very high salaries. A thriving priv...
