Women continue to be paid less than men in most industries, including healthcare, but a new analysis finds that between physicians and physician assistants, it might make more financial sense for women to skip medical school and choose to become a PA, according to an article in The Atlantic.
Keith Chen, PhD, an associate professor of economics at Yale University, describes a study that he and others are publishing in the Journal of Human Capital. Dr. Chen and other researchers look at women who are primary care physicians and physician assistants and analyze the different economic factors that could determine which career choice is a "better investment": upfront costs of a medical degree, money earned earlier rather than later, hours worked versus wages earned, etc.
They found that for women, the net present value of becoming a primary care physician is less than that of becoming a PA. "Even though both male and female doctors both earn higher wages than their PA counterparts, most female doctors don't work enough hours at those wages to financially justify the costs of becoming a doctor," Dr. Chen wrote.
While Dr. Chen admits this does not mean women should not become primary care physicians, the results show the immediate economic value of a woman choosing a PA profession with lower wages but less schooling and less of a gender gap in pay versus choosing to become a primary care physician.
Keith Chen, PhD, an associate professor of economics at Yale University, describes a study that he and others are publishing in the Journal of Human Capital. Dr. Chen and other researchers look at women who are primary care physicians and physician assistants and analyze the different economic factors that could determine which career choice is a "better investment": upfront costs of a medical degree, money earned earlier rather than later, hours worked versus wages earned, etc.
They found that for women, the net present value of becoming a primary care physician is less than that of becoming a PA. "Even though both male and female doctors both earn higher wages than their PA counterparts, most female doctors don't work enough hours at those wages to financially justify the costs of becoming a doctor," Dr. Chen wrote.
While Dr. Chen admits this does not mean women should not become primary care physicians, the results show the immediate economic value of a woman choosing a PA profession with lower wages but less schooling and less of a gender gap in pay versus choosing to become a primary care physician.
More Articles on Physician Compensation and Gender Inequality:
Women Physician Researchers Paid 16.3% Less Than Men
200 Statistics on Physician Compensation
Dr. Linda Brodsky: 5 Major Issues With Physician Compensation