How A lot Do Medical doctors Make? [Salary by Specialty 2025]

By Josh Katzowitz, WCI Content material Director

Two years in the past, the common wage for physicians truly dropped. And whereas physician incomes have risen since then, the will increase have been comparatively minuscule. Based on the newest survey numbers, the common rise in salaries for 2024 was one of many lowest in 14 years, and the vast majority of physicians nonetheless imagine they are not being paid sufficient for the way a lot and the way arduous they work.

Based on the newly launched 2025 Medscape Doctor Compensation Report, US physicians’ whole compensation rose a mean of three.6% in 2024, a significantly better quantity than the two.4% drop that occurred in 2022. Major care physicians’ compensation rose 1.4%, in line with the Medscape survey (which took info from greater than 7,000 medical doctors), whereas these within the 29+ specialties that have been analyzed rose 1%. General, all physicians who have been surveyed averaged a compensation of $376,000—a 3.6% improve 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 cost had decreased by 26% since 2001.

Wrote Doximity:

“Whereas [the 2024] improve seems to be a step in the correct course, inflationary pressures proceed to impression physicians’ actual earnings.”

In 2022, doctor earnings and a health care provider’s buying energy have been damage by inflation that reached a excessive of 9.1% that summer season. That meant a health care provider’s internet price additionally most likely decreased, significantly since shares and bonds each had horrible years in 2022. However inflation stabilized in 2023, and the S&P 500 posted a 24% achieve. The S&P posted one other 23% achieve in 2024.

Based on the MGMA 2024 Supplier Compensation Knowledge Report, main 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 have been surveyed by Medscape within the 2025 survey weren’t essentially thrilled by their salaries.

Sixty-two p.c of these surveyed imagine that almost all physicians are underpaid, whereas 33% imagine they’re paid good. The opposite 5% assume most physicians are paid an excessive amount of. To match these numbers with Individuals who have been surveyed in 2021, solely 11% thought medical doctors have been underpaid. When the Medscape survey-takers have been requested in the event that they thought they themselves have 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. Nonetheless, 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 medical doctors discovered that 55% of them are both delaying retirement (about 40% of those that have been surveyed) or lowering their bills (about 15%) due to the financial atmosphere on the time. Based on Doximity, “Older physicians, who’re nearer to the standard retirement age, are more likely to delay retirement than youthful physicians. However a considerable proportion of these of their 30s and 40s are additionally planning to delay retirement.”

Based on Doximity’s newest knowledge, 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 medical doctors 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 might have led to extra instances of doctor burnout.

“Whereas there seems to be slight motion in the correct course, doctor pay parity continues to be a vital space in want of enchancment,” Doximity wrote. “This pay hole could also be contributing to a fair greater burnout price amongst girls physicians, with practically 92% of girls physicians surveyed reporting overwork, in comparison with 83% of males.”

Doximity additionally needs to ensure consciousness of the problem is being raised.

“One of the crucial vital steps to closing the doctor gender pay hole is elevating consciousness of its existence,” Doximity wrote. “In a survey of over 1,000 physicians, performed in February and March 2024, about half (practically 52%) stated they imagine there’s a disparity in how women and men physicians are compensated. Nonetheless, gender seems to impression this perception. Whereas practically 75% of girls physicians surveyed imagine there’s a pay disparity, fewer than 30% of males physicians additionally imagine that is true.”

The newest Medscape knowledge reveals the pay hole has widened barely, as male medical doctors averaged $415,000 and feminine medical doctors averaged $317,000, a $98,000 distinction. Within the earlier yr’s survey, male medical doctors averaged $400,000 and feminine medical doctors averaged $310,000, a $90,000 distinction.

Nonetheless, medical doctors are paid extra than simply about anyone else within the US. As reported by USA At present in late 2024, of the 20 US jobs with the very best common pay, 16 of these are stuffed 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 line with the newest Doximity report, the common pediatric endocrinologist makes $217,875 per yr. The typical neurosurgeon makes $763,908. That is a distinction of greater than $546,000. Which, when evaluating these two specialties, means completely nothing. Plus, think about that, in line with the 2025 Medscape survey, the common main care doctor makes $281,000 vs. a specialist who makes $398,000. That is additionally a fairly large distinction. Here is a fast take a look at common compensation from Medscape’s most up-to-date survey.

Medscape Doctor Compensation Report 2025

It is nearly definitely extra helpful to know the common in a health care provider’s specialty versus the wage of a doctor usually.

Intraspecialty Pay vs. Interspecialty Pay

As Dr. Jim Dahle has repeatedly identified, “One of many issues I’ve seen that nobody ever appears to speak about is that intraspecialty pay variation is greater than interspecialty pay variation.”

As Jim famous in a earlier put up, right here’s a chart from 2015 that reveals the outcomes of an emergency drugs wage survey. The salaries could be outdated, however the common level stays.

He wrote:

“Take a look at the tenth percentile for workers—$213,000. Now, take 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 improve it considerably solves a ton of economic issues that actual medical doctors run into and e mail me about on a regular basis. It is manner simpler to repay your pupil loans or mortgage on twice the earnings. Even after-tax, it is a lot simpler to change into financially impartial or have a dignified retirement or ship your youngsters to the school of their selection when you may double your earnings.”

How A lot Do Medical doctors Make an Hour?

Doctor earnings info is comparatively simple to seek out, however work hours info is notoriously troublesome. The one info that mixed doctor work hours with their earnings is from a survey in JAMA printed in 2003 (which clearly makes use of even older knowledge).

The beneath doctor wage per hour chart combines the JAMA knowledge with Medscape’s 2025 survey, and it is adjusted for the decreased work hours in every specialty. This chart (presumably 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 will 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 medical doctors 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 imagined to do with that a lot variation between averages (in addition to utilizing the Doximity survey when negotiating)? However what in the event you’re a neurosurgeon or CT surgeon, and Medscape would not report in your specialty? Or you do not see your specialty listed on Doximity? Are you caught paying to get MGMA knowledge (or hiring a contract administration agency)? Is that knowledge even any higher than these surveys?

Marit additionally gives doctor wage knowledge, and the imaginative and prescient of the corporate is “to construct the biggest, most correct, community-powered supply of wage knowledge in drugs—and make it free for all clinicians” by getting medical doctors to enter their very own compensation numbers. Listed here are among the newest numbers from Marit, a lot of which dwarf the numbers offered by Medscape (click on to enlarge the picture).

For even additional exploration, listed here are a number of particular person specialties that Medscape checked out in recent times, how a lot cash these medical doctors make, and whether or not they assume their earnings is truthful:

Highest-Paid Medical doctors

Now, for the Doximity survey numbers that inform us the highest-paid and the lowest-paid medical doctors. In the case of the top-earning specialties, these in surgical and procedural specialties dominated the checklist, and medical doctors who earn the least principally follow in main care and pediatrics.

So, how a lot do medical doctors 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 lowering essentially the most, this is a chart put collectively by Medscape in its 2025 survey.

Physician Wage by State and Area

One solution to get nearer to monetary independence is to follow geographic arbitrage, the place a health care provider lives in a lower-cost-of-living space and attracts a better wage the place the necessity for physicians could be better than these within the large cities on the coasts. The next chart from Medscape in 2023 appears to point out that geoarbitrage is just not a fable.

Clearly, a health care provider residing in New York Metropolis goes to have a a lot greater value of residing than a doctor who’s residing in Weyauwega, Wisconsin. The truth that a health care provider within the Badger State most likely brings residence extra money than a doctor within the Large Apple can be one other level in favor of practising geographic arbitrage.

In 2025, Medscape launched this chart, displaying that US medical doctors earn more money within the north central a part of the nation.

As Medscape notes, “hospitals in rural states with fewer medical doctors per capita should ramp up their base wage, signing bonus, and loan-repayment choices to compete with big-city markets that provide way of life benefits.”

Physician Salaries by Employment Setting

The setting wherein a health care provider practices additionally closely impacts how a lot they earn. As you may see beneath, by way of the Doximity survey, the distinction between practising in a single-specialty group vs. working for an pressing care heart could be practically $173,000 a yr in 2024.

• Single Specialty Group: $461,000 (a 5.0% improve from final yr)
• Multi-Specialty Group: $447,000 (a 6.1% improve from final yr)
• Solo Follow: $443,000 (a 3.5% improve from final yr)
• Hospital: $428,000 (a 5.8% improve from final yr)
• Well being System/IDN/ACO: $427,000 (a 7.0% improve from final yr)
• Well being Upkeep Group: $406,000 (a 4.9% improve from final yr)
• Educational: $365,000 (a 5.2% improve from final yr)
• Pressing Care Heart/Chain: $288,000 (a 9.1% improve from final yr)
• Authorities: $292,000 (an 8.6% improve from final yr)

Want suggestions for improve pay in your particular specialty? Jim has some concepts.

There’s loads extra to learn in your complete Doximity report—which additionally contains info on doctor compensation in several metro areas, cities with the fastest-growing physician salaries, and the impression of doctor shortages. For comparability, this is Medscape’s Doctor Compensation 2025 Report.

What do you assume? Are you shocked by any of those numbers? Have you ever discovered a solution to improve your pay in your specialty?