RT Journal Article
SR Electronic
T1 How Much Do Medical Students Know About Physician Income?
JF Journal of Human Resources
JO J Hum Resour
FD University of Wisconsin Press
SP 100
OP 114
DO 10.3368/jhr.40.1.100
VO 40
IS 1
A1 Nicholson, Sean
YR 2005
UL http://jhr.uwpress.org/content/40/1/100.abstract
AB Twenty-five cohorts of medical students were asked in their first and fourth year of school to estimate contemporaneous physician income in six different specialties. The students’ income estimation errors varied systematically over time and cross-sectionally by specialty and type of student. The median student underestimated physician income by 15 percent, and the median absolute value of the estimation errors was 26 percent of actual income. Students were 35 percent more accurate when estimating market income in their fourth relative to their first year, which indicates medical students learn a considerable amount before choosing a specialty.