Becoming a doctor requires years of education, training, and dedication. While the noble profession of medicine is often chosen due to a passion for healing and helping others, the financial aspect of a medical career is also a significant consideration.
Doctor salaries vary widely based on multiple factors, including location, employer type and ownership status, but medical specialty is one of the most significant determinants. In this article, we will delve into the average doctor salaries by specialty and discuss some of the factors that influence these earnings.
Average Doctor Salary By Specialty
Though salaries can vary, Doximity reports the average salaries for various specialties as:
| Rank | Specialty | Salary |
|---|---|---|
| 1 | Neurosurgery | $788,313 |
| 2 | Thoracic Surgery | $706,775 |
| 3 | Orthopedic Surgery | $624,043 |
| 4 | Plastic Surgery | $571,373 |
| 5 | Vascular Surgery | $557,632 |
| 6 | Oral & Maxillofacial Surgery | $556,642 |
| 7 | Radiation Oncology | $547,026 |
| 8 | Cardiology | $544,201 |
| 9 | Urology | $505,745 |
| 10 | Radiology | $503,564 |
| 11 | Gastroenterology | $496,667 |
| 12 | Otolaryngology | $488,536 |
| 13 | Dermatology | $468,509 |
| 14 | Anesthesiology | $462,506 |
| 15 | General Surgery | $451,489 |
| 16 | Ophthalmology | $449,315 |
| 17 | Oncology | $447,312 |
| 18 | Colon & Rectal Surgery | $445,685 |
| 19 | Pulmonology | $400,650 |
| 20 | Nuclear Medicine | $392,196 |
| 21 | Emergency Medicine | $385,554 |
| 22 | Pathology | $357,384 |
| 23 | Pediatric Cardiology | $325,595 |
| 24 | Rheumatology | $299,790 |
| 25 | Internal Medicine | $293,894 |
| 26 | Occupational Medicine | $292,814 |
| 27 | Infectious Disease | $288,607 |
| 28 | Pediatric Emergency Medicine | $287,635 |
| 29 | Pediatric Gastroenterology | $282,853 |
| 30 | Endocrinology | $276,548 |
| 31 | Geriatrics | $275,704 |
| 32 | Preventative Medicine | $275,068 |
| 33 | Child Neurology | $273,167 |
| 34 | Family Medicine | $273,040 |
| 35 | Medicine/Pediatrics | $270,396 |
| 36 | Pediatric Pulmonology | $263,742 |
| 37 | Medical Genetics | $244,107 |
| 38 | Pediatrics | $242,832 |
| 39 | Pediatric Nephrology | $238,208 |
| 40 | Pediatric Hematology & Oncology | $237,005 |
| 41 | Pediatric Rheumatology | $226,186 |
| 42 | Pediatric Infectious Disease | $221,126 |
| 43 | Pediatric Endocrinology | $218,266 |
See Also: Individual Specialty Salary Articles: Internal Medicine, Emergency Medicine, Pediatrics, Surgery, Family Medicine, OB-GYN
Why Do Doctors’ Salaries Vary?
Doctors are not a homogenous group when it comes to earnings. The medical field encompasses numerous specialties, each with its own unique challenges, demands, and compensation structures.
While all doctors undergo rigorous training and education, the level of specialization, the complexity of procedures, and the demand for a particular specialty can greatly affect how much a doctor earns.
Factors Influencing Physician Salaries
Several key factors contribute to the variation in doctor salaries across specialties:
- Specialization Level: Specialties that require more years of training and specialization tend to offer higher salaries due to the expertise and skill set required.
- Procedures and Complexity: Specialties that involve complex surgeries or procedures often command higher compensation due to the advanced skills needed.
- Demand and Supply: Shortages of doctors in a particular specialty can drive up salaries as hospitals and medical centers compete for a limited pool of specialists.
- Geographical Location: The cost of living and demand for healthcare services in a specific area can significantly impact doctor salaries.
- Healthcare Setting: Doctors employed in private practice might have different earning potentials than those working in academic hospitals or government institutions.
- Subspecialties and Certifications: Some specialties have subspecialties or certifications that can lead to increased earning potential.
See Also: Compensation Differences Between Primary Care & Specialty Physicians
Before You Go…
Physicians’ salaries vary greatly, but it is helpful to get a general understanding of average salaries as you enter the field or negotiate contracts.
Are you starting a new role? Panacea Financial Holdings partners with Panacea Legal to provide employment contract review services. Evaluate your offer, discuss compensation, and negotiate your contract to protect your interests and support your goals. Learn more here.
Want to learn more about doctors’ salaries? Check out our Resources page or one of our curated resources below:
- Compensation Differences Between Primary Care & Specialty Physicians
- What Is The Average Internal Medicine Physician Salary?
- What is the Average Emergency Medicine Physician Salary?
- The Changing Landscape Of Medicine: Trends & Key Benefits Of Private Practices
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