![How A lot Do Medical doctors Make? [Salary by Specialty 2025]](https://webbizmarket.com/wp-content/uploads/2025/05/How-Much-Money-Do-Doctors-Make-a-Year-Salaries-Rise-Slightly-But-Not-Enough-to-Satisfy-Them.png)
By Josh Katzowitz, WCI Content material Director
Two years in the past, the common wage for physicians really dropped. And whereas physician incomes have risen since then, the will increase have been comparatively minuscule. In line with the most recent survey numbers, the common rise in salaries for 2024 was one of many lowest in 14 years, and the vast majority of physicians nonetheless consider they don’t seem to be being paid sufficient for a way a lot and the way arduous they work.
In line with the newly launched 2025 Medscape Doctor Compensation Report, US physicians’ whole compensation rose a median of three.6% in 2024, a a lot better quantity than the two.4% drop that occurred in 2022. Major care physicians’ compensation rose 1.4%, in accordance with the Medscape survey (which took info from greater than 7,000 docs), whereas these within the 29+ specialties that had been analyzed rose 1%. General, all physicians who had been surveyed averaged a compensation of $376,000—a 3.6% enhance from the $363,000 they earned the yr earlier than.
The 2024 Doximity Doctor Compensation Report confirmed that physicians had elevated their pay by 6% in 2023 after a decline of two.4% the yr earlier than. Nonetheless, Domixity stated that, when adjusted for inflation, Medicare doctor fee had decreased by 26% since 2001.
Wrote Doximity:
“Whereas [the 2024] enhance seems to be a step in the fitting path, inflationary pressures proceed to influence physicians’ actual revenue.”
In 2022, doctor revenue and a physician’s buying energy had been harm by inflation that reached a excessive of 9.1% that summer season. That meant a physician’s internet value additionally in all probability decreased, notably since shares and bonds each had horrible years in 2022. However inflation stabilized in 2023, and the S&P 500 posted a 24% acquire. The S&P posted one other 23% acquire in 2024.
In line with the MGMA 2024 Supplier Compensation Information Report, major care doctor and surgical specialist doctor whole compensation each elevated about 4.4% from 2022 to 2023. However nonsurgical specialist bodily whole compensation solely rose 1.81% in the identical time-frame.
The physicians who had been surveyed by Medscape within the 2025 survey weren’t essentially thrilled by their salaries.
Sixty-two % of these surveyed consider that the majority physicians are underpaid, whereas 33% consider they’re paid excellent. The opposite 5% suppose most physicians are paid an excessive amount of. To check these numbers with Individuals who had been surveyed in 2021, solely 11% thought docs had been underpaid. When the Medscape survey-takers had been requested in the event that they thought they themselves had been underpaid, solely 53% stated sure.
As one survey-taker stated within the 2024 survey:
“Do I really feel I’m paid nicely? Sure, compared to different Individuals. Nevertheless, I gave the time, cash, and sacrifice to do it.”
In a Doximity article launched in August 2022, a survey of greater than 1,000 docs discovered that 55% of them are both delaying retirement (about 40% of those that had been surveyed) or lowering their bills (about 15%) due to the financial setting on the time. In line with Doximity, “Older physicians, who’re nearer to the standard retirement age, are more likely to delay retirement than youthful physicians. However a considerable share of these of their 30s and 40s are additionally planning to delay retirement.”
In line with Doximity’s newest information, which was gathered with the assistance of 33,000 US physicians, the gender pay hole barely narrowed to 23% in 2023 (down from 26% in 2022 and from 28% in 2021), as male docs earn about $102,000 greater than their feminine colleagues per yr (it was a $110,000 distinction in 2022 and a $122,000 distinction in 2021). That disparity additionally may have led to extra instances of doctor burnout.
“Whereas there seems to be slight motion in the fitting path, doctor pay parity continues to be a important space in want of enchancment,” Doximity wrote. “This pay hole could also be contributing to a good increased burnout fee amongst girls physicians, with practically 92% of ladies physicians surveyed reporting overwork, in comparison with 83% of males.”
Doximity additionally needs to verify consciousness of the problem is being raised.
“Probably the most important steps to closing the doctor gender pay hole is elevating consciousness of its existence,” Doximity wrote. “In a survey of over 1,000 physicians, carried out in February and March 2024, about half (practically 52%) stated they consider there’s a disparity in how women and men physicians are compensated. Nevertheless, gender seems to influence this perception. Whereas practically 75% of ladies physicians surveyed consider there’s a pay disparity, fewer than 30% of males physicians additionally consider that is true.”
The most recent Medscape information exhibits the pay hole has widened barely, as male docs averaged $415,000 and feminine docs averaged $317,000, a $98,000 distinction. Within the earlier yr’s survey, male docs averaged $400,000 and feminine docs averaged $310,000, a $90,000 distinction.
Nonetheless, docs are paid extra than simply about anyone else within the US. As reported by USA Immediately in late 2024, of the 20 US jobs with the very best common pay, 16 of these are crammed by physicians (dentists and dental specialists make up the opposite 4 spots).
Common Physician Wage
In actuality, the common physician’s wage of $376,000 is not all that helpful to know.
For instance: in accordance with the most recent Doximity report, the common pediatric endocrinologist makes $217,875 per yr. The common neurosurgeon makes $763,908. That is a distinction of greater than $546,000. Which, when evaluating these two specialties, means completely nothing. Plus, take into account that, in accordance with the 2025 Medscape survey, the common major care doctor makes $281,000 vs. a specialist who makes $398,000. That is additionally a reasonably large distinction. This is a fast have a look at basic compensation from Medscape’s most up-to-date survey.
Medscape Doctor Compensation Report 2025
It is virtually definitely extra helpful to know the common in a physician’s specialty versus the wage of a doctor generally.
Intraspecialty Pay vs. Interspecialty Pay
As Dr. Jim Dahle has repeatedly identified, “One of many issues I’ve observed that nobody ever appears to speak about is that intraspecialty pay variation is increased than interspecialty pay variation.”
As Jim famous in a earlier publish, right here’s a chart from 2015 that exhibits the outcomes of an emergency drugs wage survey. The salaries could be outdated, however the basic level stays.
He wrote:
“Take a look at the tenth percentile for workers—$213,000. Now, have a look at the ninetieth percentile for companions—$510,000. Distinction? $297,000. GREATER than the distinction between the common pediatrician and the common plastic surgeon!
The power to extend pay and enhance it considerably solves a ton of economic issues that actual docs run into and electronic mail me about on a regular basis. It is means simpler to repay your scholar loans or mortgage on twice the revenue. Even after-tax, it is a lot simpler to change into financially unbiased or have a dignified retirement or ship your children to the school of their selection when you’ll be able to double your revenue.”
How A lot Do Medical doctors Make an Hour?
Doctor revenue info is comparatively straightforward to search out, however work hours info is notoriously troublesome. The one info that mixed doctor work hours with their revenue is from a survey in JAMA printed in 2003 (which clearly makes use of even older information).
The beneath doctor wage per hour chart combines the JAMA information with Medscape’s 2025 survey, and it is adjusted for the decreased work hours in every specialty. This chart (probably erroneously) assumes that every one physicians work 48 weeks a yr.
Physician Wage by Specialty
One fascinating factor about wage surveys is that they’re rubbish in/rubbish out. Common specialty pay varies considerably between surveys. Earlier than we give attention to the Doximity numbers, which you may discover within the paragraphs beneath, evaluate and distinction these numbers with the common annual earnings by specialty from the 2025 Medscape survey.
Medscape says infectious illness docs make $277,000. Doximity says $314,000. That is practically a 12% distinction. Medscape says orthopedists make $543,000. Doximity says $654,000, 20.4% extra. What’s a brand new grad and even a longtime doc who needs to barter a contract alleged to do with that a lot variation between averages (in addition to utilizing the Doximity survey when negotiating)? However what if you happen to’re a neurosurgeon or CT surgeon, and Medscape does not report in your specialty? Or you do not see your specialty listed on Doximity? Are you caught paying to get MGMA information (or hiring a contract administration agency)? Is that information even any higher than these surveys?
Marit additionally supplies doctor wage information, and the imaginative and prescient of the corporate is “to construct the biggest, most correct, community-powered supply of wage information in drugs—and make it free for all clinicians” by getting docs to enter their very own compensation numbers. Listed below are among the newest numbers from Marit, lots of which dwarf the numbers offered by Medscape (click on to enlarge the photograph).
For even additional exploration, listed here are a number of particular person specialties that Medscape checked out lately, how a lot cash these docs make, and whether or not they suppose their revenue is truthful:
Highest-Paid Medical doctors
Now, for the Doximity survey numbers that inform us the highest-paid and the lowest-paid docs. In the case of the top-earning specialties, these in surgical and procedural specialties dominated the record, and docs who earn the least principally apply in major care and pediatrics.
So, how a lot do docs make? Right here’s what Doximity discovered for 2024.
Lowest-Paid Medical doctors
And listed here are the specialties that earn the bottom salaries.
Remember that these charts are of the highest 20 highest and lowest common physician salaries. For specialties like psychiatry, neurology, and geriatrics, these common salaries vary from about $289,000 to about $348,000.
As for which specialty’s salaries are rising and reducing essentially the most, this is a chart put collectively by Medscape in its 2025 survey.
Physician Wage by State and Area
One technique to get nearer to monetary independence is to apply geographic arbitrage, the place a physician lives in a lower-cost-of-living space and attracts a better wage the place the necessity for physicians could be higher than these within the huge cities on the coasts. The next chart from Medscape in 2023 appears to indicate that geoarbitrage shouldn’t be a fable.
Clearly, a physician dwelling in New York Metropolis goes to have a a lot increased price of dwelling than a doctor who’s residing in Weyauwega, Wisconsin. The truth that a physician within the Badger State in all probability brings dwelling extra money than a doctor within the Massive Apple can be one other level in favor of practising geographic arbitrage.
In 2025, Medscape launched this chart, displaying that US docs make more cash within the north central a part of the nation.
As Medscape notes, “hospitals in rural states with fewer docs per capita should ramp up their base wage, signing bonus, and loan-repayment choices to compete with big-city markets that provide life-style benefits.”
Physician Salaries by Employment Setting
The setting by which a physician practices additionally closely impacts how a lot they earn. As you’ll be able to see beneath, through the Doximity survey, the distinction between practising in a single-specialty group vs. working for an pressing care middle could be practically $173,000 a yr in 2024.
- Single Specialty Group: $461,000 (a 5.0% enhance from final yr)
- Multi-Specialty Group: $447,000 (a 6.1% enhance from final yr)
- Solo Follow: $443,000 (a 3.5% enhance from final yr)
- Hospital: $428,000 (a 5.8% enhance from final yr)
- Well being System/IDN/ACO: $427,000 (a 7.0% enhance from final yr)
- Well being Upkeep Group: $406,000 (a 4.9% enhance from final yr)
- Educational: $365,000 (a 5.2% enhance from final yr)
- Pressing Care Middle/Chain: $288,000 (a 9.1% enhance from final yr)
- Authorities: $292,000 (an 8.6% enhance from final yr)
Want suggestions for methods to enhance pay in your particular specialty? Jim has some concepts.
There’s a lot extra to learn in your complete Doximity report—which additionally consists of info on doctor compensation in several metro areas, cities with the fastest-growing physician salaries, and the influence of doctor shortages. For comparability, this is Medscape’s Doctor Compensation 2025 Report.
What do you suppose? Are you shocked by any of those numbers? Have you ever discovered a technique to enhance your pay in your specialty?
