Many countries restrict the supply of doctors by centrally fixing the number of places in medical schools. This is likely to create a monopoly rent for doctors. We estimate the size of this rent by exploiting that admittance to medical school in the Netherlands is determined by a lottery. We find that doctors earn at least 20 percent more than people who end up in the next-best occupation. Estimated earnings profiles suggest that the difference is much larger in the long-run: 21 years after participating in the first lottery the earnings difference is more than 60 percent. Only a small part of this difference can be attributed to differences in working hours and human capital investments. The size of the rent does not vary with gender, but is higher for applicants with a higher GPA in secondary education.