I don't think that is true I imagine many people find WORK as doctors. However, many J.D. could also find WORK in Timbuktu places instead of bi**h ing and moaning. I am sure many physicians fight for spots in areas they want to work, New York, San Francisco, etc. However, the competition for those jobs is fierce and they get stuck in places like Weed, California.
But here's the difference: The young MD with a small family practice in Weed, CA, is making $200k a year with excellent job security. The young JD in a small general practice firm in Weed, CA, is making between $30k and $60k in any given year, with no job security whatsoever.
Hmm... I'm not helping make the case for law school here, am I.
Exactly... One little caveat, this is for US MD students. The match rate for DO students is a little lower, and the match rate for Caribbean medical schools is even lower.
To continue the hijack....
To even apply to medical school, you have to have certain undergraduate courses. If you didn't take these as an undergrad, you have to complete them another way, typically by getting a master's. You also have to take the MCAT, which requires you to study for content.
There are a purposely limited number of slots for MD students in the US. Only roughly a third of those who apply to US MD programs get in. Keep in mind, these are people who suffered through organic chemistry, the MCAT, etc. However, this is smart, because after medical school, the vast majority of students match or are able to scramble into residency spots.
At this point, new doctors are jealous of their BigLaw professional brethren because they (the dr.s) are working 80 hours/week and making between $35k-$60k/year depending on specialty and COL city for the next 3-7 years of residency and fellowship. Those who have the shorter residencies are going into the lower paid specialties (internal medicine, pediatrics) and will likely make $100k - $200k for most of their career. Surgical residencies are typically 5 years. General surgeons typically make around $300k and orthopedic surgeons typically make more than that. We'll see what happens, though, with the new healthcare bill, and how that affects salaries.
Also, I'm under the impression, though, that scholarships are far more common in law than medicine. I don't know anyone at my husband's private (~$40k/year) medical school who received more than a couple thousand in aid / year.
In short, doctors do have high salaries at this point in time, but it's not exactly the fast track to easy street. If you want that, go into investment banking / private equity.
(okay, I wink, but seriously... 6-figure bonuses straight out of undergrad? crazy!)