Although older and younger physicians have differences in their income and debt, their spending habits are nearly identical, according to Medscape's most recent young physicians compensation report.
Researchers surveyed nearly 19,200 physicians in more than 26 specialties to explore differences between younger and older physicians, in matters related to compensation and job satisfaction. Of those, 4,162 were under 40 years old.
They found that slightly more than a quarter of both younger and older physicians live within their means, about 60 percent live below their means and only 10 percent spend more than they have.
"In general, we might think that younger doctors gained responsibility as they grew older, but it appears as though financial responsibility or lack of it, is an ingrained personality habit that is evenly dispersed throughout the physician population," said Leslie Kane, Senior Director, Business of Medicine, with Medscape.
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