Did you know that there are around one million doctors practicing in the United States at the moment? A lot of these doctors have different types of physician jobs and specialties. There is plenty of work to go around. But the question so many people want to know is “How much do doctors make?”
The question depends on many factors such as the varying levels of healthcare marketing efforts they invest in and the geographic location of their practice. But by and large, doctors can make a great deal of money. We’ve given you those averages below with some addition information on each physician specialty.
So, How Much Do Doctors Make?
If you are interested in becoming a doctor, this is something you will need to research in-depth to make sure that you select the right job for you. After all, not only do the roles and day-to-day activities vary, but so will the amount of money that you are going to be able to make. So, with that being said, continue reading to discover everything you need to know about how much different types of doctors make. We will also provide details on what impacts pay, as well as looking at payment based on experience and other elements too.
How Much Does A Psychiatrist Make?
A psychiatrist will treat behavioral and emotional issues through a combination of different treatment options. This can include medication, hospitalization, psychoanalysis, and personal counseling, which is psychotherapy. This sort of doctor tends to be office-based. However, there is also the opportunity to be based in hospitals too, or to work whereby your setting incorporates a combination of both. There are a lot of specialty areas within the realm of psychiatry. For example, there are some psychiatrists that focus on adolescent and child psychiatry. Other people may choose to move into the field of treating older people or dealing with addiction medicine issues.
The most recent statistics available from the U.S. Bureau of Labor Statistics regarding average income for a Psychiatrist indicate that they earn around $200,220. This is accurate as of May 2016. The highest-paid 10 percent of psychiatrists earn over $208,000 per annum while the lowest 10 percent earn less than $61,330 per year. However, the middle 50 percent will be paid somewhere between $125,570 and $208,000, meaning it is very likely that you are going to be able to earn an income of over $100,000 per year. There are a lot of different factors that are going to determine how much money you are going to earn if you go down this route. This includes the amount and level of experience, location of employment, and the type of practice. For example, if you are employed by an outpatient or residential care facility, the average pay will be between $212,590 and $214,460. However, if you are to work in a government agency, the average pay is $219,550 per annum. In terms of location. The top five paying states are Indiana, Alaska, Wyoming, California, and South Dakota. The salaries here range from around $235,470 to $267,520.
How Much Does A Surgeon Make?
Another option out there for anyone who is interested in becoming a doctor is to become a surgeon. However, if you are going to go down this route you can expect to do a longer amount of training. Training will typically take around seven years for this. Nevertheless, as you can imagine, the pay that you will receive will typically reflect this extra commitment. As a surgeon, you can either train in general surgery or you can go into an area that is more specialized. Examples of this include vascular surgery, cardiac surgery, neurosurgery, or orthopedic surgery. Surgeons will spend their time planning everything relating to a surgical procedure that needs to be carried out. They will then begin the surgery in the operating room. They will follow up postoperatively to identify any complications, confirming that the procedure was successful.
The most recent statistics available from the U.S. Bureau of Labor Statistics regarding average income for a Surgeon indicate that they earn around $252,910. This is accurate as of May 2016. This means that they are going to be earning around $121.59 per hour. In terms of the bottom 10 percent of surgeons, they are making around $104,680 on average. However, if we take a look at the middle 50 percent, the typical wage is $208,000 or higher, and so it is very likely that you will make around $200,000 per year, or more, if you become a surgeon. Job setting is an important factor when it comes to becoming a surgeon and the pay you will receive. Surgeons working in surgical and general hospitals average $219,840. However, surgeons working in a physician’s office will average around $262,060. Of course, as mentioned, training and the years of work put in plays a very critical role when it comes to becoming a surgeon, and this is something that is very much represented in terms of payment. An entry-level surgeon will earn between $102,043 and $355,198. If you are an experienced surgeon, you will earn between $128,802 and $399,607. If you are late in your career as a surgeon, you will earn between $148,348 and $405,852.
How Much Does An Ophthalmologist?
This is the title for a type of medical doctor who is involved in treating disorders or diseases of the eyes. Common examples include glaucoma and cataracts. They will carry out eye surgery if and when it is needed. An ophthalmologist must carry out vision correction. This cannot be handled by an optometrist.
According to the Medscape Compensation Report 2018, the average salary for ophthalmology is $357,000. This represents a slight increase of three percent on the year prior. Foreign-trained ophthalmologists earn more than US-trained ophthalmologists, with median earnings of $448,000 and $353,000 respectively. Self-employed ophthalmologists earn more than employed ophthalmologists, with median earnings of $429,000 and $256,000 respectively. Considering this, it probably comes as no surprise that 58 percent of ophthalmologists are self-employed.
How much Does A Nephrologist Make?
You may also be interested in becoming a nephrologist. This is someone who treats kidney diseases. This individual will also help anyone suffering from kidney failure, prescribing dialysis. A doctor who goes down this route will need to begin by training in internal medicine, which is something we provide more details on below, and then they will move into becoming a nephrologist. This tends to mean that they are going to need to do another two or three years of training.
According to the Medscape Compensation Report 2018, the average salary for nephrology is $295,000. This represents a slight increase of five percent on the year prior. Foreign-trained nephrologists do not earn more than US-trained nephrologists, with median earnings of $287,000 and $310,000 respectively. Self-employed nephrologists earn more than employed nephrologists, with median earnings of $341,000 and $272,000 respectively. Despite this, only 33 percent of nephrologists are self-employed.
How Much Does An Oncologist Make?
Next, you could decide to become an oncologist. This means you will specialize in oncology, which is a subset of internal medicine. If you do decide to go down this role, you are going to be taking care of patients who have cancer. You will look at treating the symptoms that the cancer is causing, as well as treating the cancer itself. Oncologists will often be a part of clinical trials, making the most of experimental and new treatments for cancer that are otherwise incurable.
In terms of payment, oncologists do not boast an especially lavish salary when compared to different physicians. However, in comparison to most occupations, you can most definitely say that oncologists are well paid. During an AMGA Survey, it was deemed that there is a median of $320,907 per annum for an oncologist or hematologist that treats adults. This is around 50 per cent higher when compared with pediatric oncologists. The typical salary for an oncologist, in general, is $219,596 per annum, according to Indeed, which bases this on the job descriptions they have collected and presented in the United States in the past 36 years.
How Much Does An Anesthesiologist Make?
You may want to become an anesthesiologist. This is someone who is going to be trained in patient pain management and looking out for any critical signs while an operation is being carried out. They are also involved in medical emergency management in a hospital setting, for example, sudden breathing issues and cardiac arrest.
If you are interested in going down this route, you will want to know how much money you are going to earn. In comparison with the national average, an anesthesiologist will earn 308 percent more, as of 2018. CareerExplorer reports that the typical salary for an anesthesiologist is $267,020 per annum. Those in the bottom 20 percent of payment, though, receive $133,080. This is where wages tend to start from, with significant increases as you get more and more experienced and have more responsibility. So, when starting out, you can expect to be on around $63.98 per hour. Of course, the state in which you are working is going to have an impact on how much you earn too. Again, South Dakota comes out near the top here, with an average salary of $293,110. Other places with high anesthesiology salaries include West Virginia, Ohio, North Carolina, California, and Nebraska. Those at the lower end of the scale include Massachusetts, Utah, Wyoming, and Georgia, with average salaries of $205,960, $206,380, $191,950, and $200,090 respectively.
When compared with other physicians specializing in medicine, there is no denying that the potential for high pay is better with anesthesiology. Salaries can differ depending on years in practice, geographical region, facility type, and sub-specialty. There is also still, sadly, a bit of a pay difference between men and women. Men earn 16 percent more than their women counterparts.
How Much Does A Radiologist Make?
Radiologists are doctors who are trained in looking at diagnostic tests and interpreting them. Usually, the physician who is carrying out the treatment must look at the test as well. However, the interpretation and report from the radiologist can provide further advice and information for additional testing.
The typical salary for a radiologist in the United States is $200,890 per annum. This is 212 percent above the national average. This translates to $96.58 per hour. A starting salary tends to be $60,280 per annum or $28.98 per hour. This is what the bottom 20 percent of radiologists in the US make. A junior-level radiologist will make around $53.58 per hour or $111.440 per year. You then move onto the mid-level radiologists, which earn the average amount stated, i.e. $96.58 per hour and $200,890 per annum. In terms of state, some of the highest-paid radiologists are found in the likes of Minnesota, Montana, Maine, North Dakota, and New Hampshire. The lowest wages can be found in places like Oklahoma and Nebraska. A radiologist’s salary is going to be higher for an individual who chooses a subspecialty like ultrasonography or radiation oncology.
How Much Does A Physician Executive Make?
There are some physicians who do not decide to practice in medicine at all, and so this is something you could be interested in. Instead, they want to have a leading role in pharmaceutical research, healthcare policy, or they wish to work for a health insurance firm. A non-clinical doctor is generally going to need to have finished medical school and residency if they are going to be able to get a medical license.
Information regarding salaries for positions like this has been published in a survey that was carried out by the American Association for Physician Leadership alongside Cejka Executive Search. They deemed that $350,000 was the average salary for someone in a leadership position.
How Much Does A Neurologist Make?
A neurologist is a doctor who is going to take care of patients that have specific medical conditions, for example, those that impact the nerves, spine, or brain. This is the sort of doctor who is going to be seeing patients that have extremely complicated health problems, for example, neuropathy, multiple sclerosis, and Parkinson’s disease. They can also assist patients who have common issues, for example, dizziness and migraine headaches.
The average yearly salary for a neurologist is $200,890 per annum. This is 212 percent above the national average. This translates to $96.58 per hour. A starting salary tends to be $60,280 per annum or $28.98 per hour. This is what the bottom 20 percent of neurologists in the US make. The wages are very much reflective of radiologists. A starting salary tends to be $60,280 per annum or $28.98 per hour. This is what the bottom 20 percent of neurologists in the US make. A junior-level neurologist will make around $53.58 per hour or $111.440 per year. You then move onto the mid-level neurologists, which earn the average amount stated, i.e. $96.58 per hour and $200,890 per annum.
How Much Does An Otolaryngologist Make?
An otolaryngologist can also be referred to as an otorhinolaryngologist – both of which are not the easiest to say, right? Because of this, you will probably hear this type of doctor simply called an ENT. ENT stands for ear, nose, and throat, giving you a good indication of the sort of medical issues you are going to be dealing with if you do decide to go down this route. This is another type of doctor role that is going to involve both medicine and treatment that is office-based combined with surgical skills. There are a lot of different problems that ENTs cover, for example, neck cancers, head cancers, allergies, sinus problems, and much more. Because of this, there are a lot of different doctors that will decide to do a sub-specialization in a certain area of otolaryngology.
An ENT doctor is one of the highest-paid medical specialties, with a median salary of $398,000. Otolaryngologists that have been trained overseas tend to earn more. They have an average salary of $547,000. Moreover, the ENT salary has been growing at a rapid pace, increasing at a ten percent rate over the past few years. Self-employed ENT doctors boast an average salary of $421,000, whereas $383,000 is the typical salary for an employed ENT doctor.
How Much Does Pulmonologist Make?
Another option is to become a pulmonologist. This is someone who will treat the cardio-pulmonary system. This consists of the organs, including the heart and the lungs, which work together to assist a person with breathing. They will tend to train in pulmonary disease combined with critical care medicine. As a consequence, they may work as physicians who cover the intensive care units, which are known as intensivists, as well as also seeing patients in an office environment. They will treat a range of different diseases, including lung problems, severe allergies, and breathing disorders.
According to the Medscape Compensation Report 2018, the average salary for pulmonary medicine is $321,000. This represents a slight increase of three percent on the year prior. Foreign-trained pulmonologists earn more than US-trained pulmonologists, with median earnings of $331,000 and $308,000 respectively. Self-employed pulmonologists earn more than employed pulmonologists, with median earnings of $371,000 and $306,000 respectively. Despite this, only 24 percent of pulmonologists are self-employed.
How Much Does An Infectious Disease Physician Make?
Again, this is another area that falls under being a sub-specialty of internal medicine, and so you will need to get qualifications in this first, and then move onto becoming an infectious disease physician. Once you have done this, you will be able to treat a number of different severe and serious infections. This includes HIV/AIDS, bird flu, swine flu, and a number of other diseases that are communicable in nature.
According to the Medscape Compensation Report 2018, the average salary for infectious diseases is $231,000. This represents a tiny increase of one percent on the year prior. Foreign-trained infectious disease physicians earn more than US-trained infectious disease physicians, with median earnings of $257,000 and $216,000 respectively. Self-employed infectious disease physicians earn more than employed infectious disease physicians, with median earnings of $278,000 and $231,000 respectively. Despite this, only 15 percent of infectious disease physicians are self-employed.
How Much Does An Obstetrician/Gynecologist (OB/GYN) Make?
An OB/GYN is a doctor that specializes in women’s reproductive health. These doctors provide women with preventative care, as well as managing their pregnancy, labor, and delivery. They are involved in the diagnosis and treatment of different diseases of the productive organs too. They also specialize in a number of other health issues relating to women. This includes infertility, contraception, hormone problems, and menopause.
In the United States, the average salary for a gynecologist is $238,320 per annum, or $114.58 per hour. This is 264 percent above the national average. The starting level for a gynecologist is $44.25 per hour or $92,040 per year. Junior-level gynecologists then earn $82.75 per hour or $172,130 per annum. In terms of geography, the best wages are found in South Carolina, Indiana, Colorado, and New Mexico, whereby the average pay is more than $280,000 per year. At the other end of the spectrum, the average salary is $153,880 in Michigan. Also, the typical salary is lower than $200,000 in both Kansas and Tennessee as well.
How Much Does A Dermatologist Make?
Dermatology is one of the most competitive fields for those who wish to be a doctor. It is very hard to get accepted into dermatology residency programs, and so usually only the very best medical students are able to do this. This is because dermatologists receive high pay due to the cash-pay elective and aesthetic procedures they carry out; from laser treatments to Botox. Plus, in comparison to their peers in medicine, the quality of life tends to be a lot better. After all, due to the nature of their work, there is little to no on-call time needed.
The typical salary for a dermatologist in the United States is $200,890 per annum. This is 212 percent above the national average. This translates to $96.58 per hour. A starting salary tends to be $60,280 per annum or $28.98 per hour. This is what the bottom 20 percent of dermatologists in the US make. A junior-level dermatologist will make around $53.58 per hour or $111.440 per year. You then move onto the mid-level dermatologists, which earn the average amount stated, i.e. $96.58 per hour and $200,890 per annum. In terms of state, some of the highest-paid radiologists are found in the likes of Minnesota, Montana, Maine, North Dakota, and New Hampshire. The lowest wages can be found in places like Oklahoma and Nebraska.
How Much Does A Pediatrician Make?
Next, we have a doctor that is known as a pediatrician. They take care of patients who are young in age. Typically from the age of infancy through until they are 18-years-old. However, there are some pediatricians that will see people up to the age of 21-years-old. Their job is to provide primary care for children. Some of the care they provide includes treatment for stomach flu, colds, and coughs, among many other things. They will also carry out school physicals, well-baby checks, and immunizations. More complicated or seriously ill patients tend to get specialized treatment by being referred to a pediatric sub-specialist.
The typical salary for a pediatrician in the United States is $170,560 per annum. This is 180 percent above the national average. This translates to $82.00 per hour. A starting salary tends to be $68,860 per annum or $33.11 per hour. This is what the bottom 20 percent of dermatologists in the US make. A junior-level dermatologist will make around $60.91 per hour or $126,690 per year. You then move onto the mid-level dermatologists, which earn the average amount stated, i.e. $82.00 per hour and $170,560 per annum. The average pay is considerably higher in some states, including Utah, Montana, Nevada, Mississippi, and Wisconsin, whereby the average salary is above $240,000. There are a number of places considerably lower than the national average too, including Kansas, Michigan, Illinois, Arizona, South Carolina, and Louisiana.
How Much Does An Internal Medicine Physician Make?
A general internist is someone who is going to give primary care to patients in adulthood. They may take further training after their internal medicine residency so that they have the ability to sub-specialize in a number of other areas. Common examples include cardiology, endocrinology, and gastroenterology. An internist will usually have training that is most hospital-based when compared with a family practitioner. They may work as a hospitalist, meaning they go around seeing patients in a hospital setting, or they could have an office-based practice.
An internal medicine physician earns an average of $216,326 in the United States. The range typically falls between £194,902 and $245,831. Salary ranges depend on numerous factors, including the number of years spent in the profession, additional skills, certifications, education, and location.
How Much Does A Cardiologist Make?
Another area you may want to specialize in as a doctor is cardiology. As mentioned in the former paragraph, this is one of the number of different sub-specialties that is available for internal medicine. As a cardiologist, you will focus on treating the heart and its blood vessels. Extensive training is required if you are going to go down this path. This is because once you have finished your three years of internal medicine residency, there are several years of fellowship that are going to be required.
According to the Medscape Compensation Report 2018, the average salary for cardiology is $423,000. This represents a small increase of three percent on the year prior. Foreign-trained cardiologists earn more than US-trained cardiologists, with median earnings of $443,000 and $416,000 respectively. Self-employed cardiologists earn more than employed cardiologists, with median earnings of $483,000 and $403,000 respectively. Despite this, only 25 percent of cardiologists are self-employed.
How Much Does A Gastroenterologist Make?
We also mentioned how there are other forms of medicine that you will be able to move into. Gastroenterologists treat the digestive system, and this is another sub-specialty of internal medicine. This field is attractive to physicians who like doing procedures but also like the option of seeing patients in an outpatient environment too.
According to the Medscape Compensation Report 2018, the average salary for gastroenterology is $408,000. This represents a small increase of four percent on the year prior. Foreign-trained gastroenterologists earn slightly more than US-trained gastroenterologists, with median earnings of $414,000 and $405,000 respectively. Self-employed gastroenterologists earn a little bit more than employed gastroenterologists, with median earnings of $424,000 and $400,000 respectively. At present, 44 percent of gastroenterologists are self-employed.
How Much Does An Endocrinologist Make?
Or, perhaps once you have achieved your qualifications in internal medicine you would like to become an endocrinologist? This is someone who treats the endocrine system. These are the glands responsible for producing and secreting hormones, which control and regulate almost all of the functions in the body. Individuals with thyroid or diabetes disease will tend to be treated by someone with this level of specialism.
According to the Medscape Compensation Report 2018, the average salary for diabetes and endocrinology is $212,000. This represents a small decrease of four percent on the year prior. Foreign-trained endocrinologists earn slightly more than US-trained gastroenterologists, with median earnings of $216,000 and $210,000 respectively. Self-employed endocrinologists earn a bit more than employed endocrinologists, with median earnings of $224,000 and $209,000 respectively. At present, though, only 27 percent of endocrinologists are self-employed.
How Much Does A Family Physician Make?
Last but not least, we have family physicians. This is a primary care specialty. A doctor of this nature is going to be able to assist patients of all ages. They will provide basic care for a number of different ailments. They are typically the first to deal with any big health problems. They may carry out tests and then refer a person to see a specialist to get the further care that is required.
According to the Medscape Compensation Report 2019, the average salary for family medicine is $231,000. Self-employed family physicians earn an average of $263,000, which is more than the average for employed physicians, which is $218,000.
Doctors Can make Very Good Money
As you can see, there is a lot of differentiation when it comes to pay for doctors around the United States. If you’re a physician trying to improve your practice or grow your client base, you should research how marketing for doctors can get you new patients and improve patient satisfaction. We hope that the information that has been provided above will give you a better understanding if this is, indeed, the sort of job that you are interested in. After all, it is always important to know how much potential your future job is going to have in terms of earnings and the heights that you can reach.