FDIC-Insured – Backed by the full faith and credit of the U.S. Government
- The average annual salary for all physicians is $339,000, according to an April 2022 report from Medscape.
- Idaho is the highest paid state in the U.S. for family medicine physicians with a mean annual salary of $305,960, according to the U.S. Bureau of Labor Statistics.
About 12.5% of all active physicians in the U.S. are family medicine physicians, according to the Association of American Medical Colleges. Whether considering the specialty during medical school or training or practicing as a family medicine physician, having an income expectation can help guide salary negotiations and create a long-term financial plan.Â
What is the average physician salary?Â
The average annual salary for all physicians is $339,000, according to an April 2022 report from Medscape. When broken down further, primary care physicians made an average of $260,000 annually, while specialists made an average of $368,000.
According to the U.S. Bureau of Labor Statistics, the mean annual wage for family medicine physicians specifically is $235,930.
See Also: Compensation Differences Between Primary Care & Specialty Physicians
How much do family medicine physicians make per hour?
The mean annual wage for general family medicine physicians as reported by the BLS equates to an hourly wage of $113.43.
Family medicine physician salary by state: What do physicians make in each state?
Family medicine physicians’ salaries can vary greatly by state and territory, ranging from $94,050 in Puerto Rico to $305,960 in Idaho. According to the BLS, these are the annual mean salaries for general physicians, family medicine, by state:
- Alabama – $233,180
- Alaska – $297,130
- Arizona – $224,220
- Arkansas – $240,940
- California – $261,260
- Colorado – $223,040
- Connecticut – $223,220
- Delaware – $239,450
- District of Columbia — $217,500
- Florida – $221,020
- Georgia – $220,070
- Hawaii – $215,180
- Idaho – $305,960
- Illinois – $255,310
- Indiana – $271,470
- Iowa – $270,990
- Kansas – $243,810
- Kentucky – $248,220
- Louisiana – $173,530
- Maine – $192,980
- Maryland – $230,530
- Massachusetts – $259,460
- Michigan – $232,660
- Minnesota – $258,080
- Mississippi – $209,210
- Missouri – $203,740
- Montana – $256,730
- Nebraska – $236,870
- Nevada – $247,520
- New Hampshire – $294,830
- New Jersey – $219,000
- New Mexico – $197,020
- New York – $219,820
- North Carolina – $240,330
- North Dakota – $273,010
- Ohio – $206,220
- Oklahoma – $229,750
- Oregon – not available
- Pennsylvania – $218,130
- Puerto Rico – $94,050
- Rhode Island – $224,440
- South Carolina – $247,780
- South Dakota – $215,500
- Tennessee – $230,550
- Texas – $220,590
- Utah – $214,700
- Vermont – $204,400
- Virginia – $247,890
- Washington – $266,190Â
- West Virginia – $227,500
- Wisconsin – $261,250
- Wyoming – $282,550
Explore: More Physician Salary Articles
Highest paying states for family medicine physicians
According to the BLS, these are the highest paying states for physicians specializing in family medicine:
- Idaho – $305,960
- Alaska – $297,130
- New Hampshire – $294,830
- Wyoming – $282,550
- North Dakota – $273,010
Physician salary by specialty: How do family medicine physicians’ salaries compare to other specialties?
According to Medscape, family medicine physicians make an average of $255,000 per year. The average salaries for other medical specialties are as follows:
- Plastic surgery – $576,000
- Orthopedics – $557,000
- Cardiology – $490,000
- Otolaryngology – $469,000
- Urology – $461,000
- Gastroenterology – $453,000
- Dermatology – $438,000
- Radiology – $437,000
- Ophthalmology – $417,000
- Oncology – $411,000
- Anesthesiology – $405,000
- Surgery, general – $402,000
- Emergency medicine – $373,000
- Critical care – $369,000
- Pulmonary medicine – $353,000
- Ob/Gyn – $336,000
- Pathology – $334,000
- Nephrology – $329,000
- Physical medicine & rehabilitation – $322,000
- Neurology – $301,000
- Allergy & immunology – $298,000
- Rheumatology – $289,000
- Psychiatry – $287,000
- Internal medicine – $264,000
- Infectious diseases – $260,000
- Diabetes & endocrinology – $257,000
- Pediatrics – $244,000
- Public health & preventive medicine – $243,000
See Also:Â Which Medical Specializations Have the Best ROI?
How do family medicine physicians’ bonuses compare to other bonuses?
According to data from Medscape, 57% of physicians receive an incentive bonus as part of their income. The average annual bonus for a family medicine physician is $30,000.
Other specialties’ average incentive bonuses are
- Orthopedics – $126,000
- Ophthalmology – $100,000
- Cardiology – $85,000
- Gastroenterology – $74,000
- Urology – $73,000
- Anesthesiology – $68,000
- Radiology – $66,000
- Pathology – $54,000
- Emergency Medicine – $51,000
- Ob/Gyn – $49,000
- Physical Medicine & Rehabilitation – $48,000
- Surgery, General – $46,000
- Psychiatry – $33,000
- Internal Medicine –Â $29,000
- Neurology – $29,000
- Pediatrics – $28,000
Do employed or self-employed physicians earn more?
According to Medscape, self-employed physicians earned an average of 20% more than their employed peers. Self-employed physicians make an average of $385K, while employed physicians earn an average of $320K.
Before you go…
These salary figures are simply averages from surveys and can differ at different practices in different locations.
For many physicians, including family medicine physicians, it can be difficult to adjust to the large jump in income from training to practice. Having support and resources can help you feel confident as you negotiate and navigate your new salary. If you need help with financial planning, budgeting, taxes, or other areas, we can connect you with industry-specific experts for free. Find out more about our Build Your Team program here.
For more helpful information and tips, visit our Resources page or read one of our featured articles below:
- Considering a Job Change? Here’s What Doctors Should Know
- How Doctors Can Improve Their Credit Score & Other Common Credit Score Questions
- What You Need to Know About Credit Card Consolidation for Doctors
- Personal Loans for Doctors: What You Need to Know
Panacea Financial, a division of Primis. Member FDIC.
