The Road To Financial Freedom

The Road To Financial Freedom

Are you interested in women’s health and obstetrics – the medical specialty that deals with pregnancy, birthing, and postpartum care? If so, you may be considering a career as a gynecologist or an ultrasound technician. If you are on the threshold of applying to schools, then the cost of the degree is likely one of the key aspects of your decision. It is certainly important for you to have all the relevant information about your job prospects before making a financial decision. After all, your higher education choices can have lifelong implications in terms of debts, earnings, and savings! Along with your passion and interest, the monetary dimension of your career must be considered.

Let us take a look at the field of gynecology. Gynecologists work primarily with women’s health, including reproductive system issues, breast cancer, and so on. Their role often overlaps with that of an obstetrician, who takes care of the birthing process. In order to become a gynecologist, aspirants must earn a bachelor’s degree to begin with, after which they will need to go to medical school. Once you graduate from medical school, you will need to undergo residency at a working hospital, following which you will sit for the national board exam. Passing this exam will earn you your certification. The process of becoming a full-fledged, practicing gynecologist is, therefore, a long process – approximately 13 years.

Gaining the requisite educational qualifications costs thousands of dollars. For instance, as per data from 2013-14, the average annual tuition and fees at private medical schools added up to USD 52,093 for in-state students and USD 50,476 for out-of-state students, while at public schools, state residents were charged USD 31,783 and non-residents were charged USD 55,294 on average. However, the high salaries of gynecologists may make this high expenditure and long study period worthwhile for many. According to the US Bureau of Labor statistic, the average annual wage of physicians (including gynecologists) is USD 187,200, based on 2012 data. Another source place the median annual salary of those with the designation of ‘Physician – Obstetrics/Gynecology’ at USD 257,266. If you get the right job in the right location, paying off student loans can prove to be a fairly achievable task – provided you spend responsibly and do not default on payments.

Those who choose to become ultrasound technicians, on the other hand, will need to put in less time and money into achieving their goal. The primary responsibility of ultrasound technicians is to maintain and operate ultrasound equipment in order to identify anatomical data and images inside the human body. Ultrasound technicians communicate with patients, examine results, and document procedures. Ultrasound tests are most common in obstetrics but are also utilized in various other medical contexts.

To become an ultrasounds technician, you will need to be trained in ultrasound technology/sonography. You can opt for a one-year-long vocational school program or an associate’s degree program that lasts for two years. Upon completion, depending on the state you want to practice in, you may also need to obtain certification. The median annual salary of an ultrasound technician, as per the US Bureau of Labor Statistics, is USD 65,860. However, this varies by qualification, experience, industry, and state; for instance, among states, the highest salaries for ultrasound technicians can be found in Oregon and California. Such a salary, if used wisely, can be used to pay off any loans incurred during training quite effectively within a relatively short period of time.

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