Biotech/industry with a PhD vs MD
Hi everyone, I am currently an undergraduate studying Biomedical engineering at the University of Utah. My goal for the future is to end up in a high paying job in biotech, preferably in design or R&D. I have always felt that it would be a good way to contribute positively to the world, and I like working on projects that I can feel invested in. Because of this, my plan was to go to grad school after my undergrad and get a PhD. However, I recently figured out that MD's also often go into industry, and more often than not land higher paying jobs (in more clinical settings I am sure). I know I don't want to be an MD, as a lot of what I want to do (the whole project I can be excited about thing) would be negated by that. However, I am also a very sociable person, and could see myself loving clinical setting as well. All this to say, what would you guys recommend? A PhD is much less schooling time, especially without counting residency. I would be totally okay with a lower starting pay, but would there be a lower celling as well if I went the PhD route? And given a drier economy than would be preferred, is having the MD as a backup worth it? I feel like most of the time people get PhD MDs they hope to start their own lab in academia, is it worth it otherwise? And given I am hoping to go into industry, would residency be something I should do as well? Any advice helps. Thanks!