I agree Bippety.
Wages are determined by Demand and Supply. The Demand for any worker is the value they produce - difficult to monetise that, but given the high level of qualifications and skill, plus the value we place upon our health and having access to the NHS, and the limited supply of Doctors, their wages should be ‘high’ and probably higher than they are.
The fact the NHS is a sole employer for NHS staff pretty much is a factor which pulls their wages down.
Yes, their wages are above average by a significant margin. It’s hardly surprising when we consider the level of responsibility and skill and training needed.
I find some of the comments that ‘£50k is too low, but £80k isn’t too low’ really odd. On what basis have those posters decided that? Just a random sense of what is okay and what isn’t??
Of course £80k is significantly more than the median wage, but we could also consider that many equally qualified people who have signicant financial value can earn far more than this. Wages aren’t determined by what a survey of Joe Public thinks they should be paid, but by a mixture of market forces and things impacting wages such as how competitive those labour markets are and government legislation such as minimum wages.
The fact we have significant shortages of Doctors and they are leaving is a strong indicator they need to be paid more to retain them. Oh and of course the working conditions need improving. They aren’t the only workers these things apply to. Nurses and teachers are also leaving in droves and need improved working conditions and pay to remain.
The fact that others in other jobs are paid less, doesn’t mean Doctors should be paid less…it’s not a race to the bottom. Wage equality doesn’t exist - we don’t pay all workers the same, but largely Demand and Supply determine those wages. In the private medical sector, the reason Doctors can earn large sums, is because their work raises significant revenue for their employers via fees people pay for their services.
And yes there are inefficiencies in the NHS without a doubt…inefficiencies which we can easily recognise on here, but are extremely difficult to resolve in real life. The NHS undoubtedly has a number of problems, but Doctors being overpaid really doesn’t seem to be one of them.