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There are several interesting answer to this question. Some of them even have some correct components. I especially appreciated one respondent’s observation that the question is a “false dilemma.” More accurately, it is a “false dichotomy,” which is a logical fallacy that presents only two answers to a question for which there are more possible answers than two.Some have claimed that Alan Greenspan’s easy money (low Federal Funds rate) policy was to blame. Money was very cheap, and that encouraged the risky lending that led to the crash. Nope.Others have tried to lay the blame at the feet of Jimmy Carter, and the Community Reinvestment Act (CRA), which was enacted in an effort to encourage lenders to loan money to under-served groups. Still nope.There have been a number of theories blaming the Clinton administration, with its desire to increase the homownership rate, and in so doing somehow strong-armed lenders into making these loans that would later fail. Please.Here’s my take on the matter, from the perspective of someone who has been working in the mortgage origination business since 1990.First, be aware that “lenders,” from the solo broker working out of his back bedroom to the Too-Big-To-Fail megabank, don’t plan to keep their loans. A broker arranges financing by putting a qualified borrower and a lender together, in exchange for a loan fee, or commission. A “lender” (quotes intentional) underwrites a loan, funds it using money from a specialized line of credit called a warehouse line, then sells the loan for cash to an investor. Today, most loans wind up with Fannie Mae, Freddie Mac or Ginnie Mae. These entities comprise a large part of what is called the Secondary Mortgage Market.As a banker, I’ll sell that funded loan to the investor for a small profit. In other words, the investor will pay me more than the face amount of the loan. They will get their return over time as the borrower repays the loan with interest.I will have underwritten the loan to the investor’s standards (“guidelines”), so I know they will buy the loan. Ultimately, I will make a profit of around .6%—$2,400 on a $400,000 loan. That, children, is how the mortgage industry works: originate the loan, fund the loan, sell the loan. Lather, rinse, repeat.The “lender” cares only whether the investor will buy the loan. The underwriting process exists to be sure that the lender will purchase that loan after the closing.Stating this process in another way, I will make the loan if the investor will buy the loan.Fannie Mae was first chartered in 1934 as a “Government Sponsored Enterprise (GSE). Freddie Mac came along in 1970 to provide some competition to its larger sibling. Underwriting standards were prudent, so as to maximize the chances that a borrower would find himself over his head and go into default. That system worked well for many decades.In 1999, Then-Sen. Phil Gramm (R-TX) authored and sponsored the Financial Services Modernization Act, commonly referred to as Gramm-Leach-Bliley, after its principal sponsors. GLB effectively repealed the 1933 statute, Glass Steagall, which prohibited commercial banks, investment banks and insurance companies from being owned by the same holding company. G-S was enacted in the wake of the Crash of 1929 and the ensuing Great Depression, which was brought on at least in part by the speculative activities of banks, who were able to essentially gamble with depositors’ funds.I think too much blame has been attributed to GLB. More consequential, in my view was Sen Gramm’s next project, the Commodity Futures Modernization Act of 2000. This deregulated the trading of financial derivatives, such as Collateralized Debt Obligations (CDOs), synthetic CDOs and Credit Default Swaps (CDS). There was also a section deregulating the trading of energy futures. It was widely referred to as the “Enron Loophole.”But I digress.Remember where I mentioned the basic business model of the mortgage industry? Originate, fund, sell? The investment banks saw an opportunity in mortgages—especially in mortgages for those who would not otherwise qualify—and created their own “private-label” mortgage securities. Essentially, the banks like Bear Stearns, UBS and Goldman Sachs said the the mortgage banks, “If you originate and fund a loan for 100% of the value of the property, we’ll buy it from you. We’ll also take the borrower’s word for how much money they earn (“stated income”) and how much money they have in the bank for cash reserves (“stated assets”). Let’s see...what else…Oh, yeah: we’ll buy loans where the borrower’s credit score is as low as 580.The lenders said, “Sure! What could possibly go wrong?” And we were off to the races.The investment banks bundled those loans into Mortgage Backed Securities, a type of bond. Fannie and Freddie do the same thing. They created derivatives against these securities, CDOs and synthetic CDOs. They insured them with CDSs, purchased from a little company called American International Group—you know them better as AIG.Now that these derivatives were insured by the largest insurance company in the world, the investment banks went to the ratings agencies (S&P, Moody’s and Fitch), paid the requisite fees, and got the AAA ratings they requested. That made these derivatives salable to pension funds and the like.This all worked well—for a while. People who were earning $5,000 a month could put $12,000 a month in the income section of the application, knowing it wouldn’t be verified. They got money to buy the dream home they couldn’t possibly pay for. When they got into trouble, they’ be able to refinance—or sell the place quickly for a profit, since the market was so hot. This masked the real problem for years.There finally came a point when appreciation slowed, then flattened. People who were nearing foreclosure couldn’t refinance their way out, or sell the property, since there wasn’t any equity to cover real estate commissions. Lenders started to foreclose on the many defaulting borrowers.Today, lenders have returned to more sensible lending standards. This is not because they (we, actually) have gotten smarter, but because there is no longer a market for those loans. This is a good thing. And while there are those who claim that “mortgage standards are impossibly strict,” the fact is that anyone with a score of 580 or higher and a down payment of 3.5% and an ability to document income and assets, can get a mortgage.So, to return to the original question (even though it was asked in a fallacious manner), the fault has to be spread among a number of entities. Personally, I start with Sen. Gramm. He has long been an avid proponent of laissez-faire capitalism (you know, the Invisible Hand of the Market will deal with every ill) and managed to get those two critical laws enacted. The investment banks, many of whom have deep political connections—take a close look at Goldman Sachs, for instance—created what one might call an “attractive nuisance” in these toxic loan products that lend to the near destruction of a global economy. I believe they did so knowing that when the inevitable happened, they’d get their bailout. This is a textbook example of “moral hazard.” All the upper management of the investment banks continued to receive their multimillion dollar bonuses, so they didn’t suffer at all. (In fact, Sen. Gramm retired from the Senate to become the CEO of UBS, an investment bank. Go figure.We can’t ignore the role of the ratings agencies in all this. They issued AAA ratings to these complex derivatives in exchange for their hefty fees.Should we blame the borrowers, who got in over their heads? Sure—but there was that siren song of the Great American Dream of home ownership. It was irresistible for many, especially under urging of Realtors and mortgage loan originators.I do have to mention, at least in passing, one other aspect of the Commodity Futures Modernization Act: Sen. Gramm’s wife, Dr. Wendy Gramm (‘President Reagan’s favorite economist”) had been the head of the Commodity Futures Trading Commission, although not at the time the Act was signed into law by Bill Clinton. She was, however, a member of the Board of Directors of Enron at that time. Just sayin’.(Quick edit/disclaimer: I was in a hurry to get this posted so I can answer the Call of the Wild Martini. If there are any bits that don’t make sense, please point them out to me, and I’ll fix them. Later.)

If you're looking for a more detailed guide to financial planning, I recommend the following:The ABCs of Personal FinanceFigure out your GoalsThe very first step, is simply to figure out what your goals are. Do you want to retire at 65 with a million dollars? Retire at 65 as a multi-millionaire philanthropist? Retire at 45 with just enough money to live a frugal, relaxing life? Save up $200,000 in the next 20 years so that you can send your kids to the best private colleges? These are all equally valid answers, and there’s a different one out there for every person. You simply need to figure out what your own life goals are.Some resources that can help you figure this out:Guidelines for how much money you need in retirementCalculator for how much money you’ll need in retirementGuidelines for saving for your kids’ collegeBudget your SavingsOnce you have figured out your goals, the next step is to figure out how you can get there. Too many people spend whatever they feel like spending, and save the rest. The first step towards achieving your financial goals is to flip the equation.First figure out what you need to save every month, in order to achieve your goals. And then, spend only whatever is remaining.Calculators like this, can help you figure out exactly how much you need to save every month to achieve your goals.Some of you may find this minimum-goal to be “too easy.” You may want to challenge yourself to save even more money, and are wondering how to strike the right balance between saving for the future & enjoying the present. If you’re one such person, give yourself a pat on the back. You’re on the right track. There is no single answer to this question, but the approach I’ve used is to split my money evenly between savings & luxury spending.For example, suppose you’re making $5000 per month. Break down all your basic living expenses:$1500 – taxes$600 – rent and utilities$75 – car insurance$180 – medical insurance, life, ad&d$500 – groceries$1000 – minimum retirement savings to meet your goalsThis leaves you with around $1000 left over. Split this money equally between your savings & luxury spending. Put an additional $500 into your savings every month, and allow yourself to spend the remaining $500 on whatever luxuries or hobbies you like, free of guilt. Whenever you get a raise or bonus at work, put half of it into your savings, and allow yourself to spend the other half on anything your heart desires. You may want to pick your own ratio, but I personally find this 50-50 balance helps me enjoy life to the fullest, while still sleeping soundly at night.One quick note to mention here: There’s a huge difference between nominal dollars, and dollars indexed for inflation. One million dollars in 2040 is worth less than $500,000 when indexed for inflation. Whichever term you prefer to use when doing your calculations and looking up online tools, make sure to stay consistent.Maintain Separate Accounts & Automate ItOnce you know exactly how much you need/want to save, you need a surefire way of keeping your nest egg safe and separate from your spending money. Mixing the two of them together, is the easiest way to wreck all your careful plans & eat into your nest egg without even realizing it.The best & easiest way I’ve found to do this, is to set up separate bank accounts. At the very minimum, set up one account for your savings, and another account for everything else. I personally keep 3 different accounts. One checking account for all my basic life expenses. Another checking account for luxury spending. And a third account on ETrade, where I keep & invest all my savings.Once you have your different accounts in place, set up your paychecks to direct deposit money into each of the accounts automatically, from every paycheck. If you know you need $1500/month for your basic living expenses, have that much money direct deposited into your checking account directly from your paycheck. If you plan to save $1500/month, have that money direct deposited to your stock brokerage account directly from your paycheck every month. Arrange to have anything left over direct deposited to your luxury spending account.If you ever find yourself wanting to go shopping or traveling, first look at your luxury account’s balance. Whatever money you see sitting there, is yours to spend guilt-free. But don’t even think about dipping into your savings, unless it’s an absolute necessity.Minimize your TaxesThe average American pays $14,000 in taxes every year – enough money to become a millionaire over the course of their lifetime. Luckily, there are a number of tax benefits that we can all take advantage of, to reduce our tax bill. Every dollar not paid in taxes is an additional dollar earned & saved. Depending on how rich you are and how extensively you take advantage of these deductions, you can save tens of thousands of dollars every year. So definitely spend some time exploring these options fully.The biggest tax benefit that you should definitely take advantage of, in order to save for your retirement, is the 401k and IRA plans. At the very minimum, these plans allow you to invest your savings without having to pay any capital gains taxes. That will single-handedly boost your savings by 15%. Another advantage of 401k plans is that many employers will match a good chunk of your contributions. Taking full advantage of these matching contributions is like getting a 5% wage raise for free; don’t ever leave that money sitting on the table.Traditional 401k/IRA contributions are also exempt from Income Taxes for that year. This will significantly reduce your immediate tax bill, allowing you to save even more money. Keep in mind that you will eventually have to pay taxes on this during your retirement, but if you were to use it on charitable giving, significant medical expenses, or other such exempt uses, you may never have to pay taxes on it at all.One tradeoff you make for getting all these benefits, is that the money in your 401k/IRA accounts can only be taken out after your retirement. This can be a blessing in disguise, preventing you from blowing your savings on unnecessary expenses. But if you do have legitimate expenses to handle before your retirement, you should save up for those expenses in a non-401k account.There are quite a few exemptions that allow for early withdrawal, to account for unexpected hardships & life necessities. For example, you can withdraw money early from your 401k account to pay for qualified educational expenses, medical expenses, and to make the downpayment on your first house. If you plan to take advantage of these exemptions, make sure you research it thoroughly before committing your money to the 401k account. In general though, the 401k is an excellent way to save for your retirement, and significantly reduce your tax bill in the process.If you’re investing your savings, as you definitely should be doing, you should certainly make sure to minimize your capital gains taxes as well. Whenever you buy a stock that appreciates in value, always hold on to it for at least one year before selling it. This will cut down your taxes by half, or even eliminate it completely. If you want to go one step further, there are other fancy tricks you can use, like Tax Loss Harvesting. I personally avoid it, because I find it too much trouble and too easy to get wrong, but it’s certainly an option that’s available.The home mortgage interest deduction is another excellent way to minimize your tax bill, if you decide to buy a house. All you need to do is simply not pay off your mortgage early. This is a very good idea for other reasons as well, as covered later, but one additional tax benefit is that any money you spend in mortgage interest payments, qualifies as a tax deduction.If you know for certain that you’ll be spending some amount of money on educational expenses or medical expenses in future, you can also set up special accounts for those. For educational expenses, you can set up a 529 plan. For long-term health expenses, you can set up a Health Savings Account. For immediate dependent-care and health expenses, you can set up a Flexible Savings Account. Be careful that if these expenses do not materialize, much of the money in the account could be penalized heavily. I don’t have first-hand experience with these special plans, but if you know for certain that you’ll have certain educational/medical/dependent-care expenses in future, you should explore these plans as a way of reducing your tax bill further.The last and potentially more lucrative tax exemption of all, is Charitable Giving. Every dollar you give to charity is a dollar you will not have to pay taxes on. Note that your tax savings will always be smaller than the amount of money you’ve given to charity. So you will never become more wealthy by doing this. However, if you find yourself wanting to give back & help those less fortunate, this tax deduction is an excellent way to pay less in taxes while simultaneously making the world a better place.Managing your InvestmentsIn an earlier section, I linked to the following investment calculator. Try spending a few minutes playing with the Rate-of-Return field, and see what effect it has. Spoiler alert: It’s huge. Every 1% increase in your rate-of-return, can gain you an additional $100,000. Managing your savings & investing it wisely, will have an enormous impact on your retirement nest egg. Every small detail will make a difference of tens of thousands of dollars, so definitely educate yourself thoroughly on this topic.There are some excellent services out there, that manage all your investments for you. If after reading this section, you still feel uncomfortable managing your own investments, you can further explore using such services. But knowing the basic principles of investing is still something that will serve you very well.The very first decision you’ll want to make, is finding a balance between stocks and bonds. The stock market has historically averaged ~10% returns per year, but is also a lot more volatile. Long-term bonds (US Treasuries) have historically averaged ~6% returns per year, but are much less volatile (particularly if held to maturity).As you earlier saw from the investment calculators, the difference between 10% and 6% can easily cost/gain you half a million dollars. Finding the right balance between the two depends on a lot of factors, such as your age, income and temperament. The conventional rule of thumb is that you should invest your (age-10)% in bonds, and the rest in stocks. There are also more sophisticated questionnaires out there, that will recommend a more customized asset allocation to fit your specific circumstances & outlook. You can use these to figure out the stock-bond balance that is right for you.A quick note about CDs and savings accounts. In contrast to stocks and bonds, CDs cap out at ~2% returns, and bank savings accounts barely reach 1% returns. Their returns are so abysmal, that you should never rely on them except as temporary holdings. If you ever find yourself in an emergency where you need money immediately, you can always sell your stocks/bonds from your brokerage account, and raise the money you need within a day. Even if you were to realize a loss due to market conditions, it still beats tying up your money in savings accounts offering abysmal returns every single year.At this point, if you don’t already have one, you should set up a brokerage account from which you’ll be able to buy & sell stocks/bonds. I personally use ETrade because of their low costs, and have always been fully satisfied with their service. Once you’ve set up your brokerage account, you can get the associated routing number, and have your savings be automatically direct deposited into it from every paycheck. ETrade also allows you to electronically transfer money for free, from any checking account to ETrade and vice-versa.Once you’ve figured out your plans, set up your brokerage account and have the money to invest, let’s discuss the nuts and bolts of making an investment. There are all sorts of financial wizardry you can engage in, but since this is intended to be an introductory guide, I recommend the following bare bones approach to get yourself startedFor stocks, buy Vanguard Total World Stock ETF (Symbol: VT)For bonds, buy Vanguard Total Bond Market Index Fund (Symbol: BND)When placing an order:set the type as “Limit”the Limit-Price at a value 2% larger than the currently traded valuethe quantity at a integer number smaller than (investment_amount/limit_price)the term length as “Good for the day”check the next day, to confirm that the order went through as expectedBecause ETrade charges a $10 commission for every trade, do not place small orderswait until you have ~$500-1000 saved up, before placing an orderOnce you get more comfortable, you can deviate from the above and pursue other investment strategies. For example, you can invest specifically in Emerging Markets,International Developed Markets, the S&P 500, US small-cap, Long-Term Bond fundsand/or International Bond Funds. I personally like to divide up my investments equally among all of the above.You can do your own research before committing to portfolio, but always keep in mind your two goals:Diversification, across all different companies, sectors, markets and locationsMinimal expense ratios: 0.2% or lowerFor example, when you invest $1000 in the Vanguard Total World Stock ETF, you are literally investing in thousands of companies, in every single market segment, across ~50 different countries. Even if a number of these companies were to go bankrupt, or their countries were to fall into civil war, your overall portfolio would still hold up reasonably. And you are getting all this for an extremely low expense ratio of 0.2%. In contrast, buying individual company stocks places a lot of risk on your portfolio, and actively managed mutual funds charge expense ratios of 1% of more, despite consistently getting trounced by passively managed funds. No matter what specific strategy you decide to pursue, always buy Index Funds & ETFs.One last point to make here, and this might be the most important of all. We are absolutely horrendous when it comes to market timing. The average investor’s track record over the past 30 years is an abysmal 1.9% returns per year, in painful contrast to the 10% returns that the S&P-500 index has achieved during this same time. The reason for this? People consistently & repeatedly sell their stocks, or stop making new investments, whenever the markets are panicky. As a result, they then miss out on the dramatic upswings that happen right after a crash.Do not let this happen to you. The smartest & most business savvy investors out there have tried very hard to time the market just right, and they have mostly failed. Once you’ve set up a 20 year plan for yourself, stick to it, paycheck to paycheck, no matter what the talking heads on television might be saying.Buying vs Renting a homeHousing tends to be one of our biggest expenses and/or investments. Hence, the decisions you make about your housing situation, will have a very large impact on your long-term financial security.It can also be one of the most complicated to figure out and get right. Under some circumstances, buying a house is an extremely wise move. Under other circumstances, it will prove to be a big financial setback. To figure out what is right for you, I highly recommend using the following NYTimes Rent-vs-Buy calculator. It can help you make sense of your local property market, and figure out whether buying a home is a financially savvy move for you.One caveat to mention here, if you choose to rent a home. Renting is certainly cheaper than mortgage payments in the short term, and if you choose to rent, these calculators are all assuming that you’ll be investing the difference in stocks and bonds. Hence why renting can sometimes be a better decision than buying – investing the difference in stocks and bonds can sometimes be more lucrative than buying real estate.However, this only works if you remain disciplined about maintaining your own personal savings plan. If you simply pay your rent and save a minimal amount of money on the side, you’ll be shooting yourself in the foot.Buying a home & signing a mortgage is like enrolling yourself into a forced savings plan. Every month, the bank will give you a call and very forcefully suggest that you stick to your savings plan, by making your mortgage payment. Nobody likes others telling them what to do, but if you’re lacking in financial discipline, this can be a godsend. On the contrary, if you choose to rent your home, the pressure will be fully on you to make sure that you remain disciplined & invest significantly in your own savings plan.To be sure, buying a home can certainly be an emotional decision, as well as a financial one. If you choose to buy (or rent) a home, despite the numbers recommending otherwise, that is certainly a valid choice to make. But be honest with yourself about what it really is –luxury spending. There’s nothing wrong with spending money on the things that make you happy, as long as you’re aware of the choice you’re making and can afford to do so.Building up your credit scoreIf you ever find yourself wanting to buy a home, or take on a loan, having a great credit score can save you thousands of dollars in interest payments. Fortunately, it is also one of those things that don’t require much conscious effort to attain. With a few small tweaks, and good financial practices that you should be following anyway, you can be on your way to building a great credit score.Always pay your bills on time, no matter what. In fact, I’ll go one step further and say that all credit card balances should be paid off in full, every month, no matter what. If you don’t, the interest rates on those balances will bleed you dry. If you can’t afford to pay off your credit card balance in full, you should not have spent the money in the first place.If you ever have any loan that charges you 10% interest rates or more, you should similarly pay it off as soon as possible. On the flip side, if you have any loans that charge 4% interest rates or less, make all your minimum payments, but do not pay it off early. You’ll be better off investing the money in stocks & bonds instead, which offer 6-10% returns.Use only a fraction of your available credit limit. Ideally, 10% or less. For example, if you have 2 different credit cards with a combined credit limit of $20,000, you should only use $2,000 of it. If that isn’t sufficient for your expenses, request a credit limit increase, or pay off your credit-card balance multiple times during a single month.Build up your credit history, and hold on to it. Open up your first credit card as early as you possibly can, and hold on to it for decades. Use some amount of credit regularly. If you have the choice of paying for something using your credit card or cash, use your credit card. If you have the choice of buying your car outright or taking on a low-interest loan, take the loan. Every 2-3 years, ask your credit card company to raise your credit limit, even if you don’t need it.You don’t want to have too many different credit cards or loans, but it does help to have around 3 sources of credit active at any one time. This will allow you to build up your credit history and establish your reputation as a reliable borrower.There are websites out there that will give you free copies of your credit report, and others that will help you monitor your credit rating and give you customized recommendations on what you can do to improve it. It might be worth your while to explore these for a few months, just so you can better understand your credit score and what you can do next to improve it.Career PlanningI’ve put this section last because it technically doesn’t fit into the category of personal finance, but it can have a larger impact on your finances than anything else mentioned above. The best possible investment you can ever make, is an investment in yourself. More specifically, an investment in your education & skills.If you’re a high school dropout making $30,000 per year, you’ll have to scrimp and save just to have a financially stable future. In contrast, if you’re an MBA grad making 6 figures, you can afford to really enjoy life, while still saving for a luxurious retirement. Investing in yourself to bridge the gap between the two can be stressful in the short-term, but can pay off spectacularly within a decade or two.A word of warning here: Bad investments do exist, and so too does bad educational expenses. If you’re spending $200,000 attending a private college and majoring in Art History, that may not be the best financial investment.However, there are many other degrees and career paths that one can follow, which are very lucrative. For example, you can become a Registered Nurse simply by attending community college, and it pays $65,000 per year on average. Similarly, there are plenty of other lucrative career options that can be unlocked by enrolling yourself in an Associate’s Degree program at a nearby community college. If you’re willing to study longer and aim higher, there are plenty of college majors available at public universities, with extremely strong career prospects as well. For someone with a college degree and looking to grow their career further, doing a 1-2 year Master’s in a related field, or pursuing an MBA, can help them take their career to the next level.There is no easy answer here, and the ideal way to grow your career will differ for each person. But considering the outsized impact it will have on your financial future, it’s certainly worth some serious thought, research and active planning.ConclusionThere certainly is a lot of information covered here, and it’s very easy to feel overwhelmed if you’re coming across this information for the first time. Rest assured that there’s no way anyone can put into practice all the advice given here, in a single day. Start off slow, and start off small. Bookmark this page, or make a list of all the things that you need to do. Every day, look at the list and work towards ticking one item off of it.It may take a few months to get everything done, and that’s completely fine. Life isn’t a sprint, it’s a marathon. Focus on taking just one step at a time, and before you realize it, you’ll be amazed by how far you’ve come.

I think I can give you proper info about it as I have completed MBBS.It's going to be a long answer so if you are in hurry you can skip reading this answer.WARNING :Few of things in the last part are subjective , other may or may not have views similar to mine.After reading the answer completely you might feel that “Oh this guy became doctor and now not wanting others to become doctors” I don't have any such intension. If fact it will be good for the people of India if more and more doctors come out in future.The sole reason of answering this question is : SAVING LIVES !!If you believe in fate : it is said that what's written in fate - only that happensIf its your faith that you become doctor and end up like Dr. Paribaba or the Orthopedic Doctor of Dhule Incident then I am trying to save your life by giving you exact picture.If its your faith to become a doctor then by giving you exact scenario I am helping you save many lives which as per referrals system again I am saving Lives.IndexProcess of life if you get into MBBSADVANTAGES OF MBBS AND BEING A DOCTORDISADVANTAGES OF MBBS AND BEING A DOCTORSUBJECTIVE STUFF : I do not like it but you would love it.CONCLUSIONI will give you both sides of the course and field overall.After clearing neet UG :I will try to give overall viewBased upon your rank you can get into a Private Medical College or Govt. Medical College.Govt. Medical colleges : infrastructure and facilities may or may not be good here like equipments or hostels or teachers etc but you will get good clinical knowledge or practical knowledge becasueTreatment here is free. India is full of people who like or NEED free services.There are very less doctors or medical students compared to what is needed. So you will never have complaint that I have not seen enough patients.Teaching staff : may be adequate or may not be at all. If you get teachers they will teach you a bit rest you have to read. If no teachers then also you have to read.Now a days you have many video apps who teach you the basics and are for MCQs of PG but still if no one is available you can learn basics online.Private medical colleges : Infrastructure will be good as they try to maintain as per requirements of MCI. You will also find adequate teachers and infrastructure in the college. The downside is Money and Patient load.Patients are any day less when compared to govt. hospitals as here they need to pay.Every private medical college is run by a group of industrialists or politicians who look at it as an investment of huge amount around 400 to 500 crores and have the impression that it will generate sustained income for their investment. And to achieve this they will not burden the patients for money as NO PATIENTS EQUALS USELESS HOSPITAL AND USELESS HOSPITAL EQUALS A NON FUNCTIONAL MEDICAL COLLEGE.Students come into the scene here. If you got admission via state counseling then you need to pay fee mentioned by state govt. + other fee which usually do not increase more than 50 percent of fee mentioned by state govt. If you have taken admission via the management quota after just qualifying neet UG, it will be in a package for whole course which varies from 50 lakhs to 2 crores based on college and also based upon the time when you are seeking admission.Usually during the MCI inspection these private colleges run some or the other free schemes or offers which brings in good no. of patients at the time of inspection and for the rest of the time when there is no inspection then they show so many patients in their records by making fake case sheets which needs to be filled by the interns and 1st year PG students as homework.So in short from studies point of view you will get everything but in terms of money and practical knowledge : you will most of the times behind medical students of govt. colleges.I wrote most of the times in above statement because it's a general and usual rule that students of govt. colleges are better than students of medical colleges but it's not true always.Also in govt. colleges you will be given stipend in your internship which is again eaten up by the management in private colleges.Since there is no one to ask for attendance in govt. medical colleges many simply escape from their duties and spend their time in internship in other activities without learning.Also in private medical colleges there is a concept of fine.If you do fall short of attendance by 5 percent : fine of 10 thousand. If you answer back to people of management, fine of 50 thousand. So you need to be very careful in private medical colleges until you are very rich or your parents have good network with hi fi politicians of your local area.Also in private medical colleges if you fail in university examsStudent who got admission from state counseling :pay re exam fee of 4000 (just an example)Student who came via the management quota :pay re exam fee of 40000 (yes it's 10 times)Now coming to a point in life where you cleared all the exams and reached the internship :You are the lowest person in the hierarchy of the department : hence you are the chai wala , fake case sheet filler , personal servant of the department.If your are lucky or too committed to learning then yes you can learn a lot of clinical knowledge and hands on experience which is invaluable if you have as it gives a really good confidence to handle patients alone.One thing to note here , I am unaware of other fields but here in medical field it's always upon you to read clear exams and learn and passout. U can get good friends but at the end of the day it's you who have to do everything.So after finishing MBBS (including internship)You canWork as junior doctorOr prepare for PG NEET entrance examWorking as junior doctorThe pay varies from place to place , from hospital to hospital , from authory to authority (govt. To private)I will give you extreme ends of the spectrumIn Delhi if you work in Govt. Hospital you will be paid ₹97910 in hand every month (without income tax deduction) but they are contract jobs which are maximum for 1 yr. And at the max you can work for 2 yrs.In Hyderabad if you work in Private hospital you will be paid ₹20000 in hand every month.Pay in private hospitals will increase based upon your working experience.Also working in ICU gives better pay than working in other wards.People who just want to take a rest from their studies join private hospitals as part time to get some money to fulfill their small wishes like cosmetics , bike , laptops , mobile phone , tourism etc.People who took loans for MBBS go to Delhi as it's highest paying for repayment of their loans at the earliest.Usually for girls if they have pressure of marriage from parents go for preparing for NEET PG as a good excuse to delay the marriage. Not applicable to all parents or all girls.Also you will see most of your batchmates join coaching institutes for preparing for NEET PG.Medical field is one field where age is just a number : you will see a person having family with 3 children working as junior doctor with experience of many years in his late 30s. You will also see a person in his late 20s working as Senior doctor after completing PG who cleared neet pg while being still in internship.Now comes the story of NEET PG.As there is always difference of supply and demandAround 2 lac MBBS students apply for 20000 seats of PG all over India.After giving neet pgPG seats in govt. colleges are divided into50 percent to be filled via ALL INDIA COUNSELING50 percent to be filled via STATE COUNSELINGPG seats in private medical colleges to be filled viaState counseling : Govt. Subsidised seats + Unsubsidised seats + Management seats.For seats in govt. medical colleges and govt. subsidised seats in private medical colleges you will have a compulsory bond, duration of which varies from Nil in Delhi to 10 yrs in Arunachal Pradesh.It may or may not be breakable : fine for breaking bond is above 20 lacs.Those who have worked in govt. sector after MBBS will get incentives for working.Example :You worked for govt. for 1 yr … whatever is your score of neet pg , you will get 10 percent extra marks in state counselingYou worked for govt. for 2 yrs… whatever is your score of neet pg , you will get 20 percent extra marks in state counselingYou worked for govt. for 3 yrs … whatever is your score of neet pg , you will get 30 percent extra marks in state counseling30 percent is the max.Once you complete your PG + Bond duration , for many branches of PG such as Surgery , Medicine etc you will have an option to attain another higher degree of education that is super speciality for which you again need to write another exam.Apart from PG you can also go for DNB : Diplomat of national board : its now a days getting equality with respect to MD/MS provided the hospital from which you completed DNB meet few criteria.DNB offers courses of 3 yrs such as Surgery , Medicine etc or direct 6 yr course of Neurosurgery etc.The PG which would be MD or MS is offered by Medical Colleges where as DNB is offered by Medical colleges and other private or govt. hospitals.The stipend in MD or MS depends upon college and state just like that of Internship stipend … Govt. : yes Private : No (in most cases)Stipend in DNB depends upon hospital, how much they pay you, how much you get in hand varies from hospital to hospital and from state to state.So next time when you visit a UROLOGIST or NEUROSURGEON : before seeing the doctor as a common person understand thatHe / she studiedMBBS + Internship : 5.5 yrs.PG + Bond : 3 + 1 to 10 yrs.Super speciality : 3 yrs.There are some end branches also in MD / MS like OBG after which you can work.Among the 20000 PG seats include subjects like PATHOLOGY , MICROBIOLOGY where you can work in diagnostic labs. For subjects like PHARMA, ANATOMY, PHYSIOLOGY are more of research and teaching oriented which is not so good in India.This was all the things you will go through in your life time as a doctor if you choose MBBS.Now comes theADVANTAGES OF CHOOSING MBBS AND BEING A DOCTOR :You can flaunt that you are a doctor among your school mates.You can enjoy the people who will be jealous of you because they think getting into MBBS is lime getting into diamond mine and you will be minting diamonds for rest of your life which is NOT TRUE.It's a profession where everyone's tone of talk changes to the opposite once they come to know you are a doctor. Believe me it's a pleasure to see this happening.A policeman behaving badly and not writing complaint of lost mobile for common man.Once you say you are Dr. XYZ , he will write your complaint, also gives you his personal mobile no. in case of necessity in future.You never need a job or never need anyone to give job. You upload your resume in websites today, you will be receiving calls for interview till next one year based upon today's resume.Marks doesn't matter anywhere. If you have a medical council registration (which you get after internship) it's enough. Interview is all about the pratical knowledge and a formality.You can just site with a table chair paper pen and one big umbrella even in a village : boom : you will have earnings enough to support a family with minimal needs.While your other friends may be looking for jobs or being a mechanical engineer working in a call centre , you will always have an advantage to do what you have learnt.You will be a centre of attraction among your family and relatives as everyone will come to you for free advice.A boy or girl earning 97000 per month at the age of 23 or 24 yrs is still equal to minting a diamond mine for most of the people of middle class.You will get proposals for marriage at the age of 19 yrs only once people know that you are into MBBS.If you work as a junior doctor, at the workplace you will meet various people with a wide spectrum of stories of their lives.You will meet a doctor who is from Kerala and working in your workplace just to get paid better so that he can repay loans or support his siblings.You will also meet a doctor with 3 children with a wife and who is supporting his family.And all three of you will have same designation.If you choose to stay as junior doctor for long , you will also meet doctors who are Post graduates and in higher designation than you but younger than you and so on.As far as health is concerned you will always know when it's an emergency and when not and be calm.the above are real sugars. Those who don't have it will know its value.DISADVANTAGES OF GETTING INTO MBBS AND BEING A DOCTORNo social life : Yes its true. The syllabus and studies of medical field are too much. You will missYour school friends and their gatheringsYou will miss family functions and gatheringsYou will miss sleep the mostAnd all this you have to go through for all the time you are in a course : such as MBBS , PG , DNB.Until you are at the higher level of consultants night duties and work shifts will always be with you.The above is not true and will have a comparatively less hectic life if you take RADIOLOGY & SKIN as PG (it's all chooses by the toppers of NEET PG) or branches such as PATHOLOGY , PHARMACOLOGY ANATOMY PHYSIOLOGY etc ( these are 9 to 5 jobs)If you take branches such as MEDICINE SURGERY OR ANESTHESIA etc , from the days of PG you will miss the sleep the most.While the definition of enjoyment to the world would be PARTYING TOURISM OUTINGS , definition of enjoyment for you would be A PEACEFUL SLEEP.Duration of StudiesWhile your friends are getting jobs (even a mechanical engineer working in call centre) : you will still be studying.While your friends are going on bike trips , reunions : you will still be studyingWhile your friends are getting finding love of their lives, getting married : you will still be studyingWhile your friends are becoming parents : you will still be studyingYou will be a soft target for everyone around you : Public , Politicians , Relatives , Celebrities, Media, Govt.PublicYou follow protocol and ask a patient to get admitted in hospital : you are a greedy doctor, just trying to extract moneyYou order tests to confirm the disease : you are a greedy doctor who is asking for unwanted tests.You break the protocol and treat a patient with medications at home : you are the best doctor.You prescribe medications : you will hear a question , does it have side effects ? People never question the junk food sellers such as dominos about the side effects of pizza which in reality kills people bit by bit.PoliticiansEvery local Politician wants a preferential treatment from you. Even if a patient is dying and you are trying to save you are a bad doctor because you didn't pay attention to politicians relative who was having cough since 10 days.RelativesUntil you are giving free advice to relatives you are good. Once you are doubtful and ask them to get some tests , you are a fake doctor.CelebritiesThey do behave like Politicians and also give public interviews such as Sonali Bendre who said her husband did not want to take “chances” with Indian doctors where as , doctors of India who migrated to UK are making NHS a major success. And politicians and common people from developed countries come to India as a part of medical tourism and gets treated with best possible modalities in India and show their gratitude towards Indian doctors.MediaDefaming a doctor is easy. You can recently see a reporter of aajtak intruding a ICU where a doctor who can at the max can treat 5 children is handling 40 children to save them is simply asking questions and blaming doctors whereas govt. doesn't provide even the minimum requirements.Due to corruption and ignorance of govt. there is lack of various minimum basic facilities in the villages due to which doctors refuse to work in rural areas.Govt. in order to cover up its deficiencies come up with idiotic ideas such as BRIDGE COURSE of 6 months and make a nurse/pharmacist/Ayush doctor/local quack/local baba a full fledged govt. doctor.Govt. always tries to equate 5.5 yrs of studies and practical experience to 6 months of theoretical power point presentations.BIGGEST DISADVANTAGEASSAULT AGAINST DOCTORSIt is due to the above reasons that the image of doctor is very bad in eyes of general public.Also since assholes are everywhere : few doctors do use bad methods to loot patients. This is not true at all. Public generalises this image to every doctor.I will tell a incidentsDelhi Max Hospital : Baby handed over to family saying it's dead and at the time of cremation it moved in plastic bag (was alive)Here is the doctors view :We do not have indian protocols therefore we follow protocols given by both USA and UK.BOTH OF THEM SAY A BABY BORN BEFORE 28 weeks of pregnancy is considered dead piece of flesh as it has no lungs developed properly to live.but the doctors took a chance and tried to save the baby and was when unsuccessful handed over to the family.Then they say baby moved and took to other hospital where after 2 days in ICU it again died.Media made it a publicity stunt and made the treating doctors undergo almost every hell of an experience.License of the hospital was cancelled for sometime and then restored.Apollo Hospitals : 11 lacs bill for a dengue patient in a week by in the last patient died.People said doctors are looters : doctors fee was just 55000 out of 11 lacs.Corporate Hospitals are run by Corporate people and doctors are just employees but everyone blames the doctors. People never blame pilot for high prices of air tickets.In short every asshole has a judgement and opinion about your and the treatment you are giving.The case of Dhule :A drunk driver hits a person with his car , the person on road is injured , people bring the injured person to Hospital , on duty doctor says the patient needs care of neuro surgeon and he is not available here , people beats doctors so much that he loses vision in one of his eyes for life.Recent issue in NRS Medical college :80 Ur patient died as he did not take his medications of high BP , 200 people come to beat 2 on duty interns.None of them is arrested. For one doctors needs ICU as his ribs are broken and not able to breath properly.Another doctor needs Neurosurgery because they hit him so hard that his skull got fractured and now that doctorShould never swimShould never driveShould be on medications for life for epilepsyCan never take surgery as PG (he was topper of surgery in MBBS)Basically his career and life is spoiled for ever.GOONS ATTACK the ladies hostel with stones and acid bottles , local politicians say that they will arrange for goons to rape the female doctors.Goons openly show their private parts to female duty doctors and give rape threatsall in front of police and police behaves like stoneAnd Mamta Banerjee says : medical students are outsiders, and strike by doctors is not logical as people are suffering.Even with all the strike shown in media , emergency services such as delivery road traffic accidents burns etc were still kept running without any closure.Show me one place in India where people are on strike and still working for humanity.When a plea is filed in supreme court for doctors protection , judge says DOCTORS DONT NEED ANY PROTECTION. One lawyer is slapped in court and judge says GIVE FULL PROOF PROTECTION TO THE LAWYER.ASSAULT ON DOCTORS is a daily thing is various parts of India.RESERVATIONS :there are reservations in PG seat counseling.In case of Maharashtra , the total reservation comes around to be 82 percent. So if you are a gneeral category student then you better be a topper. And if you are a reserved candidate you can be in the middle rank.In case of Tamilnadu majority of the doctors go for working in govt. sector so until you are a topper in NEET PG, you won't get any PG seat as all others around will get extra score due to their service duration. So you don't have any chance of PG seat until you have worked in govt. or you are a topper.The Payal Tadvi Suicide caseGeneral category students are angry because a student with rank 4000 will not get PG branch of his choice but a reserved candidate will get branch of their choice even at rank of 8000.Reserved category students say that they come from such backwards and bad conditions that they need reservations and general category students are showing anger without any logical issue and it's just the discrimination.It's a never ending debate.My answer can go much long but this much is enough for you to decide what you want.SUBJECTIVE STUFFRESPECT : I do not care about it after getting into the medical field.If I treat a genuine patient, they get well : they respect me.If I entertain lame request by non emergency patients : they respect me.If I ignore non emergency patients in order to save life of some other critical patient : the non emergency patients disrespect.The relatives of critical Patients : if I save the life they call me god. If I am not able to save life of their dear ones : they beat me.After becoming a doctorYou need to choose between three things but you cannot have all three.RESPECTFAMILY TIMEMONEYbut mind you : you cannot have all three.You become surgeon : you will get respect earn money but you will not get enough family time.You become radiologist : you will have family time earn money but less respect compared to surgeons.You become teaching or research staff : you will get family time you will get respect but less money comparatively.Hope I was of help.Please have a look at this videoThank you.If you like my answer then please give a upvote.