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Who will make more money in the long run, an orthopedic surgeon, a neurosurgeon, a software engineer, or a quant?
A2A: From all that I have seen, with experience:Orthopedic Surgeon - $581,190Neurosurgeon - $711,451Senior Software Engineer - $199,000Quantitative Developer - $500,000+In the long run, salaries can be higher but there would be limit to what physicians can make. They can only perform so many surgeries. The potential is how they invest what they have earned, away from medical practice.There is no limit to what computer experts can earn. The market does that!Surgeon - Orthopedic SalariesHow much does a Surgeon - Orthopedic make? The median annual Surgeon - Orthopedic salary is $449,272, as of November 30, 2016, with a range usually between $353,245-$581,190, however this can vary widely depending on a variety of factors. Our team of Certified Compensation Professionals has analyzed survey data collected from thousands of HR departments at companies of all sizes and industries to present this range of annual salaries for people with the job title Surgeon - Orthopedic in the United States.Surgeon - Neurology SalariesHow much does a Surgeon - Neurology make? The median annual Surgeon - Neurology salary is $562,266, as of November 30, 2016, with a range usually between $423,298-$711,451, however this can vary widely depending on a variety of factors. Our team of Certified Compensation Professionals has analyzed survey data collected from thousands of HR departments at companies of all sizes and industries to present this range of annual salaries for people with the job title Surgeon - Neurology in the United States.Software Engineer V SalariesHow much does a Software Engineer V make? The median annual Software Engineer V salary is $128,296, as of November 30, 2016, with a range usually between $115,907-$142,098, however this can vary widely depending on a variety of factors. Our team of Certified Compensation Professionals has analyzed survey data collected from thousands of HR departments at companies of all sizes and industries to present this range of annual salaries for people with the job title Software Engineer V in the United States.Software Engineer Senior - $199,000Quantitative Developer $350,000Quants: The Rocket Scientists Of Wall StreetBy Tristan YatesAs financial securities become increasingly complex, demand has grown steadily for people who not only understand the complex mathematical models that price these securities, but who are able enhance them to generate profits and reduce risk. These individuals are known as quantitative analysts, or simply "quants."Due to the challenging nature of the work - a blend of mathematics, finance and computer skills - quants are in great demand and able to command very high salaries. In this article we'll learn what they do, where they work, how much they earn, what knowledge is required and whether this may be the career for you.What They DoQuantitative analysts design and implement complex models that allow financial firms to price and trade securities. They are employed primarily by investment banks and hedge funds, but sometimes also by commercial banks, insurance companies and management consultancies, in addition to financial software and information providers.Quants that work directly with traders, providing them with pricing or trading tools, are often referred to as "front office" quants. In the "back office," quants will validate the models, conduct research and create new strategies. For banks and insurance companies, the work is focused more on risk management rather than trading strategies. Front office positions are typically more stressful and demanding, but are better compensated.Demand for quants is high and driven by multiple trends:Rapid growth of hedge funds and automated trading systemsIncreasing complexity of both liquid and illiquid securitiesNeed to give traders, accountants and sales reps access to pricing and risk modelsOngoing search for market-neutral investment strategies.Where They WorkQuantitative analysis positions are found almost exclusively in major financial centers with trading operations. In the United States, this would be New York and Chicago and also areas where hedge funds cluster, such as Boston and Stamford. Across the Atlantic, London dominates, and in Asia many quants are working in Hong Kong, Singapore, Tokyo and Sydney, among other regional financial centers.Despite the heavy concentration in those cities, quants are found all over the world - after all, many global firms analyze and/or trade complex securities, creating demand for the quant's brainpower and abilities. But the problem a quant working in Houston or San Francisco faces is that changing employers will most likely mean changing cities, whereas a quant working in Manhattan should be able to interview for and find a job within a mile or two of their previous one.What They EarnCompensation in the field of finance tends to be very high, and quantitative analysis follows this trend. It is not uncommon to find positions with posted salaries of $250,000 or more and with bonuses, $500,000+ is achievable. As with most careers, the key to landing the high-paying jobs is a resume filled with experience, including well-known employers, and reliance on both recruiting firms and professional networking for opportunities.The highest-paid positions are with hedge funds or other trading firms, and part of the compensation is dependent upon the earnings of the firm, also known as the P&L (profit and loss). At the other end of the pay scale, an entry-level quant position may earn only $125,000 or $150,000, but this type of position provides a fast learning curve and plenty of room for future growth in both responsibilities and salary.Also, some of the lower-paid quant positions are more likely to be primarily quant developers, which is more of a software-development position in which the individual is not required to have as much math and finance expertise. An excellent quant developer could certainly earn $250,000, but that's about as high as the compensation package generally will go.Despite the high pay level, some quants do complain that they are "second-class citizens" on Wall Street and don't earn the multimillion-dollar salaries that top hedge fund managers or investment bankers do. As one can see, financial success is always relative.What They KnowFinancial KnowledgeMany financial securities, such as options and convertibles, are easy to understand conceptually, but are very difficult to model precisely. Because of this hidden complexity, the skills most valued in a quant are those related to mathematics and computation rather than finance. It is a quant's ability to structure a complex problem that makes them valuable, not their specific knowledge of a company or market.A quant should understand the following mathematical concepts:Calculus (including differential, integral and stochastic)Linear algebra and differential equationsProbability and statisticsKey financial topics include:Portfolio theoryEquity and interest rate derivatives, including exoticsCredit-risk productsSome quants will specialize in specific products, such as commodities, foreign exchange or asset-backed securities.Computer CompetencySoftware skills are also critical to job performance. C++ is typically used for high-frequency trading applications, and offline statistical analysis would be performed in Matlab, SAS, S-PLUS/R or a similar package. Pricing knowledge may also be embedded in trading tools created with Java, .NET or VBA, and are often integrated with Excel. Monte Carlo techniques are essential.Education and CertificationsMost firms look for at least a Master's degree or preferably a PhD in a "quantitative" subject, such as Mathematics, Economics, Finance or Statistics. Master's degrees in Financial Engineering or Computational Finance are also effective entry points for quant careers. Generally, an MBA is not enough by itself to obtain a quant position, unless the applicant also has a very strong mathematical or computational skill set in addition to some solid experience in the real world.While most financial certifications, such as a CFA, likely wouldn't add much value to a prospective quant's resume, one that may is the Certificate in Quantitative Finance, or CQF. This six-month intensive program can be attended part-time in New York or London, or via distance learning globally.The Right Career?Clearly, "the right stuff" is required to be a quantitative analyst. It requires both the intellectual ability to master complex and abstract mathematical domains and a willingness to tackle challenges that can seem insurmountable, all under considerable pressure. It is something that only a select few are capable of.But that also doesn't mean that everyone who has the ability to be a quant should become one. The financial problems faced are very abstract and narrow - quants don't read annual reports, meet with management, visit operations, talk to shareholders, etc. Most of their time is spent working with computer code and numbers on a screen.Individuals with strong analytical skills are valuable in many different areas of finance, such as economic and financial analysis, for example. Having to compete against the best and brightest quants every single day may not be the quickest path through the ranks, especially for those with broader skills and interests and a desire to manage.Another issue is that many PhD quants that come from academic environments find that they miss the research environment. Instead of being able to study a problem for several months, solutions have to be found in days or hours. This usually precludes making any breakthroughs in the field. Still, success in quantitative analysis is largely due to knowledge, talent, merit and dedication, rather than the ability to sell, network or play politics, and the individuals who work in the field are there because they can do the job well. Many find that type of environment remarkably refreshing.Read more: Quants: The Rocket Scientists Of Wall Street | Investopedia http://www.investopedia.com/articles/financialcareers/08/quants-quantitative-analyst.asp#ixzz4TtOCZW6MFollow us: Investopedia on Facebook5 High-Paying, Low-Stress JobsComputer Software EngineerIf you're a tech geek seeking a relatively low-pressure career, you may want to check out the software engineering field. Software engineers design and test a variety of different types of software, from computer games to operating systems to business applications. These days, many software engineers can work from home, since their jobs can be done from practically anywhere.Software engineers also bring home steep salaries, normally ranging between $54,000-130,000 a year. There's nothing nerdy about that.Read more: 5 High-Paying, Low-Stress Jobs | Investopedia http://www.investopedia.com/financial-edge/0510/5-high-paying-low-stress-jobs.aspx#ixzz4TtPYkaN0Follow us: Investopedia on Facebook_____________________________________________________________________________________Per Request,Interventional Radiologist Salary 2016AMGA survey: Radiologist compensation has increasedAugust 26, 2014 -- Radiologist compensation rose over the three-year period from 2011 to 2014, including an increase from 2013 to 2014, according to a new survey on physician salaries conducted by the American Medical Group Association (AMGA).For noninterventional radiologists, median compensation in 2014 was $476,013, an increase of 5% from the $453,216 reported for 2013, according to the survey. For interventional radiologists, median compensation increased 2.7%, from $504,772 in 2013 to $518,164 in 2014.Median physician compensation, 2011-2014 2011201220132014% change, 2011-2014Compensation Issues200 Statistics on Physician CompensationWritten by Helen Adamopoulos | January 24, 2014 |In response to pressure to contain the cost of care while improving quality, hospitals and health systems have increasingly sought to acquire physician practices.Keeping track of compensation trends can help hospitals successfully attract physicians in order to expand and improve care. During the past year, some specialties saw notable increases in median compensation, while some of the highest paid specialties saw slight decreases in median base pay.Highest-paid specialtiesCardiac and surgical specialties once again had the highest median compensation. Invasive cardiologists, orthopedic and cardiac and cardiac and thoracic surgeons reported median salaries of more than $500,000. Interventional diagnostic radiologists polled had a median salary upwards of $500,000, according to the American Medical Group Association's 2013 Medical Group Compensation and Financial Survey, based on 2012 data.Non-invasive cardiologists, dermatologists, gastroenterologists, urologists and non-interventional diagnostic radiologists reported earning more than $400,000. General surgeons, ophthalmologists and otolaryngologists were close behind, all earning median salaries of more than $370,000.Lowest-paid specialtiesPrimary care physicians including family medicine practitioners, hospitalists and pediatricians continued to report lower median salaries than other specialties, with pediatricians receiving the lowest median salaries at $222,827. Psychiatrists were the second-lowest paid, with median base pay of $224,878, according to AMGA.Endocrinologists, infectious disease specialists, internal medicine physicians, rheumatologists and urgent care physicians also ended up near the bottom of the list, all with median salaries less than $243,000.Other trendsThe overall weighted average increase for physician compensation from 2012 to 2013 was roughly 1.6 percent, according to the AMGA report. Primary care specialty compensation went up by about 2.8 percent, while earnings for other specialties rose 1.5 percent. Surgical specialty compensation increased by 0.5 percent.Some specialties saw notable increases. Endocrinologists saw a 5.81 percent increase in their median salary, while infectious disease specialists reported a 5.64 percent rise in median base pay. Rheumatologists saw their median pay go up by 4.89 percent, and the median base pay for anesthesiologists rose 4.6 percent.Meanwhile, although they are still among the highest paid, cardiac and thoracic surgeons saw a 3.33 percent drop in their median base pay, and non-invasive cardiologists experienced a 2.17 percent decrease.Physician statistics — 2014Based on the most recent market data available from physician compensation reports and surveys, here are 200 statistics on physician compensation trends during the past year.Note: Some of the statistics may seem higher or lower compared with others in each specialty. A collection of physician surveys were used to compile information. In addition, every specialty does not contain the same number of statistics, as some data was not available for each specialty. Please read the following to understand where the statistics came from:Median salary, median work RVUs and median gross charges are from the American Medical Group Association's 2013 Medical Group Compensation and Financial Survey, a 2013 report based on 2012 data. The survey collected responses from 280 medical groups that represent approximately 67,900 physicians during the first quarter of 2013.Mean salary for men, mean salary for women, highest-paying region, lowest-paying region, hospital-employed salary and multispecialty group practice salary are from Medscape's 2013 Physician Compensation Report. The report collected responses from 21,878 U.S. physicians across 25 specialty areas from Feb. 14, 2013, to Feb. 28, 2013.Highest offered base salary and lowest offered base salary are from Merritt Hawkins' 2013 Review of Physician Recruiting Incentives. The report is based on 3,097 permanent physician search assignments that Merritt Hawkins engaged in from April 2012 to March 2013.AnesthesiologistsMedian salary: $394,734 (4.6 percent increase from 2012)Median gross charges: $1,342,339Median salary for men: $347,000Median salary for women: $300,000Highest-paying region: North Central ($383,000)Lowest-paying region: West ($318,000)Hospital-employed salary: $349,000Multispecialty group practice salary: $374,000Cardiac and thoracic surgeonsMedian salary: $525,944 (3.33 percent decrease from 2012)Median gross charges: $1,663,247CardiologistsMedian salary: $420,991 (2.17 percent decrease from 2012)Median gross charges: $1,298,288Mean salary for men: $362,000Mean salary for women: $310,000Highest-paying region: Northwest ($403,000)Lowest-paying region: Northeast ($311,000)Hospital-employed salary: $314,000Multispecialty group practice salary: $380,000Highest offered base salary (non-invasive cardiology, not including bonuses): $550,000Lowest offered base salary (non-invasive cardiology, not including bonuses): $250,000Cardiologists – InvasiveMedian salary: $547,112 (4.27 percent increase from 2012)Median gross charges: $1,496,641Highest offered base salary (not including bonuses): $675,000Lowest offered base salary (not including bonuses): $300,000DermatologistsMedian salary: $411,499 (3.56 percent increase from 2012)Median gross charges: $1,649,366Mean salary for men: $321,000Mean salary for women: $284,000Highest-paying region: Great Lakes ($333,000)Lowest-paying region: Northeast ($274,000)Highest offered base salary (not including bonuses): $425,000Lowest offered base salary (not including bonuses): $235,000Diagnostic radiologists (Interventional MDs)Median salary: $504,772 (4.02 percent increase from 2012)Median gross charges: $2,366,223Diagnostic radiologists (Non-interventional MDs)Median salary: $453,216 (1.30 percent decrease from 2012)Median gross charges: $2,181,076Emergency medicine physiciansMedian salary: $301,000 (1.18 percent increase from 2012)Median gross charges: $1,017,726Mean salary for men: $277,000Mean salary for women: $242,000Highest-paying region: South Central ($298,000)Lowest-paying region: Northeast ($242,000)Hospital-employed salary: $277,000Multispecialty group practice salary: $203,000Highest offered base salary (not including bonuses): $450,000Lowest offered base salary (not including bonuses): $210,000EndocrinologistsMedian salary: $234,258 (5.81 percent increase from 2012)Median gross charges: $669,768Mean salary for men: $183,000Mean salary for women: $172,000Highest-paying region: North Central ($210,000)Lowest-paying region: Southwest ($148,000)Hospital-employed salary: $146,000Multispecialty group practice salary: $188,000Family medicine physiciansMedian salary: $223,810 (2.03 percent increase from 2012)Median gross charges: $732,661Mean salary for men: $184,000Mean salary for women: $157,000Highest-paying region: North Central ($186,000)Lowest-paying region: Northwest ($162,000)Hospital-employed salary: $204,000Multispecialty group practice salary: $191,000Highest offered base salary (not including bonuses): $325,000Lowest offered base salary (not including bonuses): $130,000GastroenterologistsMedian salary: $432,616 (0.58 percent decrease from 2012)Median gross charges: $1,925,073Mean salary for men: $349,000Mean salary for women: $308,000Highest-paying region: Northwest ($498,000)Lowest-paying region: Mid-Atlantic ($311,000)Hospital-employed salary: $264,000Multispecialty group practice salary: $421,000Highest offered base salary (not including bonuses): $600,000Lowest offered base salary (not including bonuses): $291,000General surgeonsMedian salary: $373,478 (0.93 percent increase from 2012)Median gross charges: $1,316,116Mean salary for men: $290,000Mean salary for women: $225,000Highest-paying region: North Central ($340,000)Lowest-paying region: West ($258,000)Hospital-employed salary: $262,000Multispecialty group practice salary: $338,000Highest offered base salary (not including bonuses): $550,000Lowest offered base salary (not including bonuses): $240,000Hematologists/medical oncologistsMedian salary: $350,268 (0.61 percent increase from 2012)Median gross charges: $684,264Mean salary for men: $293,000Mean salary for women: $240,000Highest-paying region: Southwest ($347,000)Lowest-paying region: Northeast ($230,000)Hospital-employed salary: $227,000Multispecialty group practice salary: $356,000Highest offered base salary (not including bonuses): $525,000Lowest offered base salary (not including bonuses): $275,000Hospitalists (internal medicine)Median salary: $241,250 (2.01 percent increase from 2012)Median gross charges: $460,709Highest offered base salary (not including bonuses): $350,000Lowest offered base salary (not including bonuses): $150,000Internal medicine physiciansMedian salary: $226,833 (1.08 percent increase from 2012)Median gross charges: $739,067Mean salary for men: $195,000Mean salary for women: $165,000Highest-paying region: South Central ($210,000)Lowest-paying region: Northeast ($168,000)Hospital-employed salary: $192,000Multispecialty group practice salary: $203,000Highest offered base salary (not including bonuses): $325,000Lowest offered base salary (not including bonuses): $130,000NephrologistsMedian salary: $277,449 (0.17 percent decrease from 2012)Median gross charges: $967,052Mean salary for men: $242,000Mean salary for women: $214,000Highest-paying region: Southwest ($289,000)Lowest-paying region: Great Lakes ($180,000)Hospital-employed salary: $149,000Multispecialty group practice salary: $259,000NeurologistsMedian salary: $255,004 (2.31 percent increase from 2012)Median gross charges: $816,409Mean salary for men: $227,000Mean salary for women: $189,000Highest-paying region: South Central ($250,000)Lowest-paying region: Mid-Atlantic($194,000)Hospital-employed salary: $199,000Multispecialty group practice salary: $226,000Highest offered base salary (not including bonuses): $400,000Lowest offered base salary (not including bonuses): $180,000Obstetricians/gynecologists (general)Median salary: $312,541 (3.03 percent increase from 2012)Median gross charges: $1,266,715Mean salary for men: $253,000Mean salary for women: $221,000Highest-paying region: South Central ($250,000)Lowest-paying region: Mid-Atlantic ($194,000)Hospital-employed salary: $216,000Multispecialty group practice salary: $252,000Highest offered base salary (not including bonuses): $350,000Lowest offered base salary (not including bonuses): $225,000OphthalmologistsMedian salary: $372,552 (0.15 percent increase from 2012)Median gross charges: $1,901,428Mean salary for men: $294,000Mean salary for women: $220,000Highest-paying region: North Central ($351,000)Lowest-paying region: South Central ($230,000)Hospital-employed salary: $205,000Multispecialty group practice salary: $340,000Orthopedic surgeonsMedian salary: $525,000 (1.79 percent increase from 2012)Median gross charges: $2,013,979Mean salary for men: $403,000Mean salary for women: $422,000Highest-paying region: Northwest ($652,000)Lowest-paying region: Mid-Atlantic ($248,000)Hospital-employed salary: $396,000Multispecialty group practice salary: $422,000Highest offered base salary (not including bonuses): $750,000Lowest offered base salary (not including bonuses): $250,000OtolaryngologistsMedian salary: $383,141 (2.34 percent increase from 2012)Median gross charges: $1,605,445Highest offered base salary (not including bonuses): $650,000Lowest offered base salary (not including bonuses): $300,000Pediatricians (general)Median salary: $222,827 (0.99 percent increase from 2012)Median gross charges: $873,546Mean salary for men: $190,000Mean salary for women: $156,000Highest-paying region: Great Lakes ($182,000)Lowest-paying region: Northeast ($165,000)Hospital-employed salary: $162,000Multispecialty group practice salary: $188,000Highest offered base salary (not including bonuses): $300,000Lowest offered base salary (not including bonuses): $145,000PsychiatristsMedian salary: $224,878 (3.54 percent increase from 2012)Median gross charges: $489,583Highest offered base salary (not including bonuses): $300,000Lowest offered base salary (not including bonuses): $165,000PulmonologistsMedian salary: $300,646 (1.4 percent decrease from 2012)Median gross charges: $1,003,779Mean salary for men: $219,000Mean salary for women: $271,000Highest-paying region: West ($296,000)Lowest-paying region: Southwest ($210,000)Hospital-employed salary: $210,000Multispecialty group practice salary: $303,000Highest offered base salary (not including bonuses): $500,000Lowest offered base salary (not including bonuses): $225,000RheumatologistsMedian salary: $240,250 (4.89 percent increase from 2012)Median gross charges: $845,886Mean salary for men: $195,000Mean salary for women: $165,000Highest-paying region: Southeast ($208,000)Lowest-paying region: Northwest ($140,000)Hospital-employed salary: $201,000Multispecialty group practice salary: $224,000UrologistsMedian salary: $424,603 (2.17 percent increase from 2012)Median gross charges: $1,795,229Mean salary for men: $344,000Mean salary for women: $303,000Highest-paying region: Great Lakes ($433,000)Lowest-paying region: Mid-Atlantic ($309,000)Hospital-employed salary: $328,000Multispecialty group practice salary: $412,000Highest offered base salary (not including bonuses): $650,000Lowest offered base salary (not including bonuses): $385,000More Articles on Physician Compensation:Specialist Salaries Come Under Scrutiny, But There is No Easy Answer to Reduce Costs Proceed With Caution: Counsel Sign-Off Doesn't Guarantee Stark Law Compliance 42 Statistics on Healthcare Occupation Compensation© Copyright ASC COMMUNICATIONS 2017. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
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