Category Archive: Financial

The Ultimate Guide to Physician Salaries

In light of the new Medscape Physician Compensation Report 2012 that was just released, I thought it was time to compile all the data on physician salaries into one place. There are many resources online that report average physician salaries, and many of them offer very different results. I recently wrote an article detailing the pros and the cons many of these online physician salary and compensation databases.  However, it can be a bit tedious to go through all the work of visiting each website to compare results.  So, I have done all the work for you. In this article I will present the physician salary by specialty data from all the reliable and relevant online physician salary databases.  Feel free to compare and contrast the information presented by each different company.

Medscape Physician Compensation Report

In my opinion, the Medscape average physician salary report is the most reliable data on the internet. It represents more than 20,000 physician surveys answered by doctors in every specialty in every part of the country. See my article about the 2012 Medscape report to learn about all the great information they report in their results.

 

Careers In Medicine: Specialty Pages

Careers in Medicine (CiM) is a great resource for medical students and medical residents (link to my previous article about Careers in medicine). One of the greatest tools it provides is a list of salary information for each specialty.  Careers in Medicine separates the compensation information using two very important distinctions: academic vs. private practice and starting salaries vs. established salaries.  CiM obtains the academic salary information from the Association of American Medical Colleges AAMC Report on Medical School Faculty Salaries. The data about private practice salaries comes from the MGMA Physician Compensation Survey.  Below, I have compiled a table of the salaries reported for each specialty. (Click here to download the formatted table) On the CiM website you can also see salary data for every sub-specialty; this is especially important for internal medicine, pediatrics, and general surgery where the sub-specialty choice results in very different salaries.

Compiled from the Careers in Medicine website, AAMC

 

Allied Physicians: Old Salary Survey

Many students use the alliedphysicians.com resource to learn about physician salaries by specialty. However, you should know that it has not been updated since 2006, so the information is likely a bit off now but the trends are still the same.

From alliedphysicians.com

 

Cejka Search

The Cejka Search Group is a great resource for salary information but also for job openings and employment information. Their physician salary survey is up-to-date and updated frequently. They freely publish their salary information in order to advertise the many physician job openings they have available.

Physician Specialty

Median Physician Compensation Data

Allergy & Immunology

$249,674

Anesthesiology

$370,500

Cardiac & Thoracic Surgery

$533,084

Cardiology

$402,000

Colon & Rectal Surgery

$394,723

Critical Care Medicine

$264,750

Dermatology

$375,176

Diagnostic Radiology – Interventional

$478,000

Diagnostic Radiology – Non-Interventional

$454,205

Emergency Care

$267,293

Endocrinology

$218,855

Family Medicine

$208,861

Family Medicine – with Obstetrics

$209,565

Gastroenterology

$405,000

General Surgery

$357,091

Geriatrics

$187,602

Gynecological Oncology

$413,500

Gynecology

$232,075

Gynecology & Obstetrics

$275,152

Hematology & Medical Oncology

$320,907

Hospitalist

$215,716

Hypertension & Nephrology

$259,677

Infectious Disease

$227,750

Intensivist

$313,152

Internal Medicine

$214,307

Neonatology

$280,771

Neurological Surgery

$592,811

Neurology

$236,500

Nuclear Medicine (M.D. only)

$331,000

Obstetrics

$275,152

Occupational / Environmental Medicine

$223,750

Ophthalmology

$238,200

Oral Surgery

$380,500

Orthopedic Surgery

$500,672

Orthopedic Surgery – Hand

$476,039

Orthopedic Surgery – Joint Replacement

$605,953

Orthopedic Surgery – Pediatrics

$425,000

Orthopedic Surgery – Spine

$688,503

Orthopedic-Medical

$297,348

Otolaryngology

$368,777

Pathology (M.D. only)

$354,750

Pediatric Allergy

$198,458

Pediatric Cardiology

$233,958

Pediatric Endocrinology

$187,957

Pediatric Gastroenterology

$240,895

Pediatric Hematology / Oncology

$212,577

Pediatric Infectious Disease

$209,680

Pediatric Intensive Care

$272,000

Pediatric Nephrology

$198,686

Pediatric Neurology

$219,561

Pediatric Pulmonary Disease

$201,841

Pediatric Surgery

$419,783

Pediatrics & Adolescent

$209,873

Perinatology

$394,121

Physical Medicine & Rehabilitation

$237,628

Plastic & Reconstructive Surgery

$390,142

Psychiatry

$214,740

Psychiatry – Child

$216,360

Pulmonary Disease

$306,829

Radiation Therapy (M.D. only)

$447,250

Reproductive Endocrinology

$317,312

Rheumatologic Disease

$224,000

Sports Medicine

$231,540

Transplant Surgery – Kidney

$365,125

Transplant Surgery – Liver

$454,287

Trauma Surgery

$424,555

Urgent Care

$222,920

Urology

$413,941

Vascular Surgery

$413,629

Profiles Database Physician Salary Data

Profilesdatabase.com is another online physician recruitment company. They also publish their physician salary data freely in order to publicize their many job openings. Like the Cejka Search, these numbers are updated frequently and seem to be very reliable.

Specialty

National Average, Six Years in Practice

Median Starting Range

Allergy & Immunology

$246,000.00

$190,000.00

Anesthesiology

$360,000.00

$265,000.00

Cardiac & Thoracic Surgery

$522,875.00

$360,000.00

Cardiology

$402,000.00

$272,000.00

Colon& Rectal Surgery

$389,700.00

$290,000.00

Critical Care Medicine

$258,750.00

$198,000.00

Dermatology

$365,450.00

$234,000.00

Diagnostic Radiology – Interventional

$469,800.00

$335,000.00

Diagnostic Radiology – Non-Interventional

$444,850.00

$330,000.00

Endocrinology

$214,550.00

$165,000.00

Family Medicine

$199,850.00

$138,000.00

Family Medicine – with Obstetrics

$207,900.00

$142,000.00

Gastroenterology

$398,800.00

$272,000.00

General Surgery

$350,000.00

$225,000.00

Gynecological Oncology

$402,000.00

$300,000.00

Gynecology

$233,000.00

$210,000.00

Gynecology & Obstetrics

$279,750.00

$200,000.00

Hematology & Medical Oncology

$314,800.00

$222,000.00

Hospitalist

$210,950.00

$165,000.00

Nephrology

$252,000.00

$180,000.00

Infectious Disease

$225,000.00

$158,000.00

Internal Medicine

$208,790.00

$145,000.00

Neonatology

$275,400.00

$196,000.00

Neurological Surgery

$589,500.00

$395,000.00

Neurology

$237,000.00

$190,000.00

Ophthalmology

$248,000.00

$210,000.00

Orthopedic Surgery

$485,500.00

$315,000.00

Orthopedic Surgery – Pediatrics

$395,420.00

$318,000.00

Orthopedic Surgery – Spine

$625,000.00

$465,000.00

Otolaryngology

$350,000.00

$222,000.00

Pediatric Cardiology

$230,900.00

$189,000.00

Pediatric Endocrinology

$187,600.00

$170,000.00

Pediatric Gastroenterology

$230,500.00

$175,000.00

Pediatric Hematology / Oncology

$210,000.00

$175,000.00

Pediatric Infectious Disease

$205,00.00

$173,000.00

Pediatric Intensive Care

$252,500.00

$195,000.00

Pediatric Nephrology

$196,000.00

$172,000.00

Pediatric Neurology

$218,200.00

$182,000.00

Pediatric Pulmonary Disease

$190,000.00

$162,000.00

Pediatric Surgery

$401,000.00

$295,000.00

Pediatrics

$202,500.00

$162,000.00

Physical Medicine & Rehabilitation

$233,300.00

$178,000.00

Plastic  Surgery

$382,000.00

$273,000.00

Psychiatry

$211,000.00

$165,000.00

Psychiatry – Child

$218,300.00

$159,000.00

Pulmonary Disease

$298,000.00

$191,500.00

Rheumatology

$220,500.00

$163,500.00

Trauma Surgery

$400,000.00

$298,000.00

Urgent Care

$215,000.00

$142,000.00

Urology

$400,000.00

$250,000.00

Vascular Surgery

$405,000.00

$259,400.00

Merritt Hawkins: Physician Salary By Specialty

Merritt Hawkins is a physician salary survey that reports the average starting salary offered to new residency graduates.  The entire report for the year 2011 is available for free in PDF (click here). Remember, because these data represent new hires, the are STARTING SALARIES and should be compared to other reports accordingly. I will reprint the starting salaries of the 20 most highly recruited specialties below. The Merritt Hawkins PDF also reports the average signing bonus and average income guarantees. (If you are interested, I discuss the Merritt Hawkins report on the salaries of allied health professionals in another post)

 

From Merritt Hawkins Free PDF

 

Resident and Fellow Salaries and Benefits

2011 Average Resident and Fellow Stipends

Every year the Association of American Medical Colleges (AAMC) compiles a survey of intern, resident, and fellow salaries across the country.  While most medical and surgical residents are paid similar stipends, there are certainly differences.  This will become a somewhat important factor in ranking residency programs during the fourth year of medical school.  The recent AAMC resident and fellow stipend report can be found here as a pdf document. The complete document describes current resident salaries and displays a chart of the average resident salaries all the way back to the 1960s.  Additionally, it details the difference in stipends between the northeast, the south, the west, and the midwest. Finally, it explains in detail what is included in the average benefits packages (i.e. medical insurance premiums, retirment plans, life insurance, disability ect).

The report contains salary information for all training levels, intern thru post graduate year (PGY) eight. The national mean salary of each PGY level and the percent change from 2010 is shown below.  (taken from the AAMC document)

The next table displays the average first year resident (i.e. ‘intern’) salary each year since 1968.  The average increase in salary in recent years has been 2-4%.

As you will see in the complete document, the residency programs that pay the most are church sponsored hospitals in the northeast.  Those that pay the least are state hospitals in the south.