Financial analysis of PA lifetime earnings and debt
Autor: | Mirela Bruza-Augatis, Roderick S. Hooker, Jennifer M. Coombs |
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Rok vydání: | 2021 |
Předmět: |
Adult
media_common.quotation_subject education Real estate Nurse Assisting Debt Economics Financial analysis Humans Child health care economics and organizations Aged media_common Discretionary spending Aged 80 and over Career Choice Earnings Salaries and Fringe Benefits Training Support United States Income Life expectancy Student debt Demographic economics Cost of living Family Practice |
Zdroj: | JAAPA. |
ISSN: | 1547-1896 |
Popis: | This economic analysis of physician assistant/associate (PA) career earnings sought to assess the increasing effect of student debt, its potential effect on job selection, and whether such financial obligations may influence graduates to select higher-paying specialties. The model was a 30-year-old newly graduated PA who begins working in family medicine. A simulation included wages, student debt, national household expenditures, and real estate statistics. The scenario consisted of a high and middle cost of living in two geographic areas, a family of four, and an average life expectancy. Using a validated economic program, a series of calculations produced the financial effect on moderate-income levels and expenditures based on median PA earnings. On the deficit side is education debt, loan repayment, financing a house, college for children, retirement, and discretionary spending. Weighted variables were used to maximize the sensitivity effect of the simulation. A Monte Carlo probabilistic program predicted the likely outcome of income, expenses, inflation, and investments. Furthermore, the lifetime earnings of a PA who retires at age 67 years and lives to age 85 years falls in the 75th percentile of income of all Americans. The conclusion is that a full-time PA career in any clinical role is as economically rewarding as it is satisfying. |
Databáze: | OpenAIRE |
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