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andrew
Student
Alabama Shores, AL
1
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how much do doctors earn annually?
how much do doctors earn annually
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5 answers
Michelle M.
Entertainment Industry
1750
Answers
Updated
Michelle’s Answer
Hello, Andrew !
This is a good question that I am sure many people wonder about. I would like to share some thoughts about it with you so you can have a bit of insight about the money part of being a medical doctor.
The first time a medical doctor receives pay is during their residency, most times working in a hospital. This salary that they get is very low. After their residency they can then apply for an unrestricted license to practice medicine. They can then work in their own private practice, a hospital, a group practice or at a medical clinic.
So there are a few venues that doctors can work at which means that it would be impossible to say how much a doctor makes because it depends on them just starting out, whether or not they start their own independent practice and what they will charge and what type of doctor they are. Again, there are more variables such as if a doctor is in a large city, suburban setting or within a rural area. Many doctors do consulting work, too, for places that need a doctor periodically like nursing homes, schools, etc. and they can do this at the same time they are also getting a salary from their own practice or a hospital. So there really is no accurate way to tell how much one can make as a doctor. It depends on how many opportunities a doctor obtains and where they are located. Some doctors also write books, have a position on the Board of Directors at companies and organizations, too, so it really depends and you won't get an accurate idea of pay because you would need to know the salary 12 years from now as well as what particular venue and side jobs the doctor has. Try not to generalize salaries and/or choose a career based on salary. Every medical doctor I know does pretty well, however. Also, their annual salary can vary year to year based on the paid opportunities they are involved in.
If you are thinking about going into Sports Medicine, by all means, find out about the education path and what opportunities exist in your state of Alabama and other states for this awesome career. The road to becoming a doctor can seem like a long one, but it is well worth it in the end as you would finally be doing something you've dreamed of doing. Base it on your drive and passion for it, not potential money, because you have to take it as a process and learn and enjoy it every step of the way. Trust that what you put into your work will lead you to gain much from it, not only financially, but in all special ways.
I hope that this is something to consider and I wish you well on your educational path !
This is a good question that I am sure many people wonder about. I would like to share some thoughts about it with you so you can have a bit of insight about the money part of being a medical doctor.
The first time a medical doctor receives pay is during their residency, most times working in a hospital. This salary that they get is very low. After their residency they can then apply for an unrestricted license to practice medicine. They can then work in their own private practice, a hospital, a group practice or at a medical clinic.
So there are a few venues that doctors can work at which means that it would be impossible to say how much a doctor makes because it depends on them just starting out, whether or not they start their own independent practice and what they will charge and what type of doctor they are. Again, there are more variables such as if a doctor is in a large city, suburban setting or within a rural area. Many doctors do consulting work, too, for places that need a doctor periodically like nursing homes, schools, etc. and they can do this at the same time they are also getting a salary from their own practice or a hospital. So there really is no accurate way to tell how much one can make as a doctor. It depends on how many opportunities a doctor obtains and where they are located. Some doctors also write books, have a position on the Board of Directors at companies and organizations, too, so it really depends and you won't get an accurate idea of pay because you would need to know the salary 12 years from now as well as what particular venue and side jobs the doctor has. Try not to generalize salaries and/or choose a career based on salary. Every medical doctor I know does pretty well, however. Also, their annual salary can vary year to year based on the paid opportunities they are involved in.
If you are thinking about going into Sports Medicine, by all means, find out about the education path and what opportunities exist in your state of Alabama and other states for this awesome career. The road to becoming a doctor can seem like a long one, but it is well worth it in the end as you would finally be doing something you've dreamed of doing. Base it on your drive and passion for it, not potential money, because you have to take it as a process and learn and enjoy it every step of the way. Trust that what you put into your work will lead you to gain much from it, not only financially, but in all special ways.
I hope that this is something to consider and I wish you well on your educational path !
Chinyere Okafor
Educationist and Counseling Psychologist
401
Answers
Port Harcourt, Rivers, Nigeria
Updated
Chinyere’s Answer
Hello Andrew,
Doctors' annual earnings can vary significantly depending on factors such as their specialization, experience, location, and whether they work in private practice or a hospital setting. Here’s a general overview:
1. Primary Care Physicians:
- Average salary: $200,000 to $250,000 per year.
- These include family medicine doctors, general practitioners, and pediatricians.
2. Specialists:
- Average salary: $300,000 to $500,000 per year.
- Specialists like cardiologists, anesthesiologists, orthopedic surgeons, and dermatologists typically earn more than primary care doctors. Some high-earning specialists can make $600,000 or more annually.
3. Geographic Location:
- Doctors in urban areas may earn less than those in rural areas due to higher demand for healthcare services in less populated areas.
- Salaries also differ by country and region. For example, in the U.S., doctors tend to earn more compared to many other countries.
4. Experience:
- Junior doctors, such as residents, may earn significantly less, around $60,000 to $70,000 per year.
- Experienced doctors or those with established practices often earn more.
5. Private Practice vs. Hospitals:
- Doctors in private practice may have higher earning potential, but they also have more business expenses.
- Hospital-employed physicians typically have stable salaries with benefits, but they may not earn as much as those in private practice.
Please note that these are just estimates, and actual salaries can vary considerably.
Best wishes!
Doctors' annual earnings can vary significantly depending on factors such as their specialization, experience, location, and whether they work in private practice or a hospital setting. Here’s a general overview:
1. Primary Care Physicians:
- Average salary: $200,000 to $250,000 per year.
- These include family medicine doctors, general practitioners, and pediatricians.
2. Specialists:
- Average salary: $300,000 to $500,000 per year.
- Specialists like cardiologists, anesthesiologists, orthopedic surgeons, and dermatologists typically earn more than primary care doctors. Some high-earning specialists can make $600,000 or more annually.
3. Geographic Location:
- Doctors in urban areas may earn less than those in rural areas due to higher demand for healthcare services in less populated areas.
- Salaries also differ by country and region. For example, in the U.S., doctors tend to earn more compared to many other countries.
4. Experience:
- Junior doctors, such as residents, may earn significantly less, around $60,000 to $70,000 per year.
- Experienced doctors or those with established practices often earn more.
5. Private Practice vs. Hospitals:
- Doctors in private practice may have higher earning potential, but they also have more business expenses.
- Hospital-employed physicians typically have stable salaries with benefits, but they may not earn as much as those in private practice.
Please note that these are just estimates, and actual salaries can vary considerably.
Best wishes!
Michael Cadra
Oral and Maxillofacial Surgeon, physician and dentist
17
Answers
Nipomo, California
Updated
Michael’s Answer
Andrew,
Not to be a downer, but if your primary consideration is annual earnings or lifetime earnings, there are careers that are much more lucrative than being a physician. You must love working with people, helping them through tough times and as a sports medicine profession, help them obtain optimal physical and mental fitness. You must be a team player and interact with coaches, sports dietitians, physical therapists, athletic trainers and more.
Medical school is expensive! Luckily for you, Alabama has two tax-payer supported allopathic (MD) medical schools and two osteopathic (DO) medical schools. As an Alabama resident you may qualify for assistance with tuition and living expenses at the two allopathic schools (UAB and Univ. of South Alabama). The assistance is based on a promise of practicing primary care in a needy community for a period of time. You will collect some debt no matter what, and then accrue interest on that debt through your years in residency and Sports Medicine Fellowship. The years of medical school, residency and fellowship represents a lost "opportunity cost" where you could be earning in another profession.
There are essentially two routes to Sports Medicine (non-operative vs. operative). Following residency in Family Practice, Pediatrics. Internal Medicine or a combined Pediatric/Internal Medicine residency, you would need one to two years of a Sports Medicine Fellowship to be eligible for a Certificate of Added Qualifications I(CAQ) n Sports Medicine. The other pathway is through Orthopedic Surgery, again with a one to two year fellowship to obtain a CAQ
As you can see from the above answers there is wide disparity in estimating annual earnings. These estimates are only as good as the data that. they are derived from and lack transparency of the mean, median and mode of salaries or earnings. Income does have a large geographic component, the higher compensation is usually where the cost of living is higher.
Medicine is constantly changing with downward pressure on earnings from insurance companies. Medicare payments to physicians are under constant attack. If you follow the news you can stay abreast of the financial pressure being placed on the practice of medicine.
Some of the best advice that I received nearly 50 years ago is "Do what you love, the money will follow."
Good luck on your journey,
Michael E. Cadra, MD, DMD, FACS
University of Alabama School of Medicine 1993
Examine your motivation for becoming a physician or a Sports Medicine physician. Keep a journal with your thoughts, it will come in handy to complete personal statements.
Define what if any age group(s) that you will want to work with. Pre-HS age, High School, College, Athletic professionals, aging weekend warriors?
Do not depend on answers on this forum from outside the medical profession, they are often incorrect.
Find a way to work with a local athletic trainer (local HS maybe?), visit a physical therapist, interview a local sports medicine physician.
Not to be a downer, but if your primary consideration is annual earnings or lifetime earnings, there are careers that are much more lucrative than being a physician. You must love working with people, helping them through tough times and as a sports medicine profession, help them obtain optimal physical and mental fitness. You must be a team player and interact with coaches, sports dietitians, physical therapists, athletic trainers and more.
Medical school is expensive! Luckily for you, Alabama has two tax-payer supported allopathic (MD) medical schools and two osteopathic (DO) medical schools. As an Alabama resident you may qualify for assistance with tuition and living expenses at the two allopathic schools (UAB and Univ. of South Alabama). The assistance is based on a promise of practicing primary care in a needy community for a period of time. You will collect some debt no matter what, and then accrue interest on that debt through your years in residency and Sports Medicine Fellowship. The years of medical school, residency and fellowship represents a lost "opportunity cost" where you could be earning in another profession.
There are essentially two routes to Sports Medicine (non-operative vs. operative). Following residency in Family Practice, Pediatrics. Internal Medicine or a combined Pediatric/Internal Medicine residency, you would need one to two years of a Sports Medicine Fellowship to be eligible for a Certificate of Added Qualifications I(CAQ) n Sports Medicine. The other pathway is through Orthopedic Surgery, again with a one to two year fellowship to obtain a CAQ
As you can see from the above answers there is wide disparity in estimating annual earnings. These estimates are only as good as the data that. they are derived from and lack transparency of the mean, median and mode of salaries or earnings. Income does have a large geographic component, the higher compensation is usually where the cost of living is higher.
Medicine is constantly changing with downward pressure on earnings from insurance companies. Medicare payments to physicians are under constant attack. If you follow the news you can stay abreast of the financial pressure being placed on the practice of medicine.
Some of the best advice that I received nearly 50 years ago is "Do what you love, the money will follow."
Good luck on your journey,
Michael E. Cadra, MD, DMD, FACS
University of Alabama School of Medicine 1993
Michael recommends the following next steps:
Will Xue, CFA
Manager at PwC
95
Answers
Updated
Will’s Answer
Hi Andrew,
Here is a list of various types of doctors along with a brief description of each. Also I added the 2023 Median wages per website:
https://www.onetonline.org/
In general, all kinds of doctors are well paid with $220K+ annual salary.
1. General Practitioner/Family Medicine Physician: These doctors provide primary care for individuals of all ages, offering preventive care, diagnosing and treating common illnesses, and referring patients to specialists when necessary.
$108.00 hourly, $224,640 annual
2. Internal Medicine Physician: Internists focus on the prevention, diagnosis, and treatment of adult diseases. They often manage complex medical conditions and coordinate care for their patients.
$107.36 hourly, $223,310 annual
3. Pediatrician: Pediatricians specialize in the medical care of infants, children, and adolescents. They provide preventive care, diagnose and treat childhood illnesses, and monitor growth and development.
$95.53 hourly, $198,690 annual
4. Obstetrician/Gynecologist (OB/GYN): OB/GYNs specialize in women's reproductive health, pregnancy, and childbirth. They provide prenatal care, perform deliveries, and diagnose and treat conditions related to the female reproductive system.
$115.00+ hourly, $239,200+ annual
5. Psychiatrist: Psychiatrists are medical doctors who specialize in mental health. They diagnose and treat mental illnesses, prescribe medications, and may provide therapy or counseling services.
$115.00+ hourly, $239,200+ annual
6. Surgeon: Surgeons perform surgical procedures to treat diseases, injuries, or deformities. They may specialize in various areas such as general surgery, orthopedic surgery, cardiovascular surgery, or neurosurgery.
$115.00+ hourly, $239,200+ annual
7. Anesthesiologist: Anesthesiologists administer anesthesia during surgical procedures to ensure patient comfort and safety. They also monitor patients' vital signs throughout the procedure.
Anesthesiologist
8. Orthopedic Surgeon: Orthopedic surgeons specialize in the diagnosis and treatment of musculoskeletal conditions, including bone fractures, joint disorders, and sports injuries.
$115.00+ hourly, $239,200+ annual
9. Cardiologist: Cardiologists specialize in diagnosing and treating diseases of the heart and blood vessels. They may perform diagnostic tests, prescribe medications, and provide interventions such as angioplasty or stent placement.
$115.00+ hourly, $239,200+ annual
10. Dermatologist: Dermatologists diagnose and treat conditions related to the skin, hair, and nails. They treat conditions such as acne, eczema, skin cancer, and perform cosmetic procedures.
$115.00+ hourly, $239,200+ annual
11. Radiologist: Radiologists interpret and diagnose medical images such as X-rays, CT scans, MRIs, and ultrasounds. They work closely with other physicians to provide accurate diagnoses.
$115.00+ hourly, $239,200+ annual
12. Neurologist: Neurologists specialize in the diagnosis and treatment of diseases and disorders of the nervous system, including the brain, spinal cord, and nerves.
$115.00+ hourly, $239,200+ annual
13. Ophthalmologist: Ophthalmologists are eye specialists who diagnose and treat eye conditions and diseases. They perform eye surgeries, prescribe glasses or contact lenses, and provide general eye care.
$115.00+ hourly, $239,200+ annual
14. Oncologist: Oncologists specialize in the diagnosis and treatment of cancer. They may focus on specific areas such as medical oncology (chemotherapy), radiation oncology, or surgical oncology.
$115.00+ hourly, $239,200+ annual
15. Urologist: Urologists specialize in the diagnosis and treatment of conditions related to the urinary tract and male reproductive system. They treat conditions such as urinary tract infections, kidney stones, and prostate issues.
$113.46 hourly, $236,000 annual
Hope this helps.
Here is a list of various types of doctors along with a brief description of each. Also I added the 2023 Median wages per website:
https://www.onetonline.org/
In general, all kinds of doctors are well paid with $220K+ annual salary.
1. General Practitioner/Family Medicine Physician: These doctors provide primary care for individuals of all ages, offering preventive care, diagnosing and treating common illnesses, and referring patients to specialists when necessary.
$108.00 hourly, $224,640 annual
2. Internal Medicine Physician: Internists focus on the prevention, diagnosis, and treatment of adult diseases. They often manage complex medical conditions and coordinate care for their patients.
$107.36 hourly, $223,310 annual
3. Pediatrician: Pediatricians specialize in the medical care of infants, children, and adolescents. They provide preventive care, diagnose and treat childhood illnesses, and monitor growth and development.
$95.53 hourly, $198,690 annual
4. Obstetrician/Gynecologist (OB/GYN): OB/GYNs specialize in women's reproductive health, pregnancy, and childbirth. They provide prenatal care, perform deliveries, and diagnose and treat conditions related to the female reproductive system.
$115.00+ hourly, $239,200+ annual
5. Psychiatrist: Psychiatrists are medical doctors who specialize in mental health. They diagnose and treat mental illnesses, prescribe medications, and may provide therapy or counseling services.
$115.00+ hourly, $239,200+ annual
6. Surgeon: Surgeons perform surgical procedures to treat diseases, injuries, or deformities. They may specialize in various areas such as general surgery, orthopedic surgery, cardiovascular surgery, or neurosurgery.
$115.00+ hourly, $239,200+ annual
7. Anesthesiologist: Anesthesiologists administer anesthesia during surgical procedures to ensure patient comfort and safety. They also monitor patients' vital signs throughout the procedure.
Anesthesiologist
8. Orthopedic Surgeon: Orthopedic surgeons specialize in the diagnosis and treatment of musculoskeletal conditions, including bone fractures, joint disorders, and sports injuries.
$115.00+ hourly, $239,200+ annual
9. Cardiologist: Cardiologists specialize in diagnosing and treating diseases of the heart and blood vessels. They may perform diagnostic tests, prescribe medications, and provide interventions such as angioplasty or stent placement.
$115.00+ hourly, $239,200+ annual
10. Dermatologist: Dermatologists diagnose and treat conditions related to the skin, hair, and nails. They treat conditions such as acne, eczema, skin cancer, and perform cosmetic procedures.
$115.00+ hourly, $239,200+ annual
11. Radiologist: Radiologists interpret and diagnose medical images such as X-rays, CT scans, MRIs, and ultrasounds. They work closely with other physicians to provide accurate diagnoses.
$115.00+ hourly, $239,200+ annual
12. Neurologist: Neurologists specialize in the diagnosis and treatment of diseases and disorders of the nervous system, including the brain, spinal cord, and nerves.
$115.00+ hourly, $239,200+ annual
13. Ophthalmologist: Ophthalmologists are eye specialists who diagnose and treat eye conditions and diseases. They perform eye surgeries, prescribe glasses or contact lenses, and provide general eye care.
$115.00+ hourly, $239,200+ annual
14. Oncologist: Oncologists specialize in the diagnosis and treatment of cancer. They may focus on specific areas such as medical oncology (chemotherapy), radiation oncology, or surgical oncology.
$115.00+ hourly, $239,200+ annual
15. Urologist: Urologists specialize in the diagnosis and treatment of conditions related to the urinary tract and male reproductive system. They treat conditions such as urinary tract infections, kidney stones, and prostate issues.
$113.46 hourly, $236,000 annual
Hope this helps.
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
5799
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Andrew,
Understanding Doctor's Yearly Income
The yearly income of doctors can fluctuate greatly due to several influences such as their medical field, geographical area, years of practice, and the nature of their practice (private or hospital/healthcare system employed). Here's a comprehensive analysis of these influences:
1. Impact of Medical Specialties
The income of doctors can greatly differ based on their medical specialty. Various reports and surveys indicate:
Primary Care Physicians: This category includes family medicine doctors, internists, and pediatricians. As of 2023, they earn an average annual income between $200,000 and $250,000.
Specialists: Specialists usually earn more than primary care physicians. For instance:
Orthopedic Surgeons: They earn around $500,000 to $600,000 yearly on average.
Cardiologists: They typically make between $400,000 and $500,000.
Dermatologists: They can earn approximately $350,000 to $450,000.
2. Role of Geographic Location
A doctor's practice location significantly affects their income. Generally:
Urban areas with high living costs often provide higher salaries compared to rural areas.
States like California and New York usually offer higher average salaries for doctors due to demand and cost of living.
For example:
In regions like Alabama Shores or similar areas in Alabama, the average income for physicians might be lower than the national average but can still range from $180,000 to $300,000, depending on the specialty.
3. Influence of Experience
Experience greatly affects earnings:
New physicians (residents) may start with salaries around $60,000 to $70,000, which increases as they finish their residency and start practicing independently.
Mid-career physicians usually see a substantial increase in their salaries as they gain experience and establish a patient base.
4. Effect of Practice Type
The employment type also impacts earnings:
Physicians in private practice may have higher earning potential due to profit-sharing but also encounter higher overhead costs.
Employed physicians may receive a stable salary with benefits but might not earn as much as those in private practice.
5. Other Influencing Factors
Other factors affecting doctor salaries include:
Work hours: More hours usually result in higher pay.
Bonuses and incentives: Many hospitals offer performance bonuses that can significantly increase annual earnings.
Malpractice insurance costs: These can differ by specialty and affect net income.
In conclusion, although there isn't a one-size-fits-all answer to how much doctors earn yearly due to the many variables involved, it's safe to say that most physicians earn between $200,000 and $600,000, depending on their specialty and circumstances.
Top 3 Reliable Sources Used
Medscape Physician Compensation Report
Bureau of Labor Statistics (BLS)
American Medical Association (AMA)
These sources offer detailed data on physician salaries across various specialties and geographic locations based on extensive surveys and labor statistics analysis.
Stay blessed!
JC.
Understanding Doctor's Yearly Income
The yearly income of doctors can fluctuate greatly due to several influences such as their medical field, geographical area, years of practice, and the nature of their practice (private or hospital/healthcare system employed). Here's a comprehensive analysis of these influences:
1. Impact of Medical Specialties
The income of doctors can greatly differ based on their medical specialty. Various reports and surveys indicate:
Primary Care Physicians: This category includes family medicine doctors, internists, and pediatricians. As of 2023, they earn an average annual income between $200,000 and $250,000.
Specialists: Specialists usually earn more than primary care physicians. For instance:
Orthopedic Surgeons: They earn around $500,000 to $600,000 yearly on average.
Cardiologists: They typically make between $400,000 and $500,000.
Dermatologists: They can earn approximately $350,000 to $450,000.
2. Role of Geographic Location
A doctor's practice location significantly affects their income. Generally:
Urban areas with high living costs often provide higher salaries compared to rural areas.
States like California and New York usually offer higher average salaries for doctors due to demand and cost of living.
For example:
In regions like Alabama Shores or similar areas in Alabama, the average income for physicians might be lower than the national average but can still range from $180,000 to $300,000, depending on the specialty.
3. Influence of Experience
Experience greatly affects earnings:
New physicians (residents) may start with salaries around $60,000 to $70,000, which increases as they finish their residency and start practicing independently.
Mid-career physicians usually see a substantial increase in their salaries as they gain experience and establish a patient base.
4. Effect of Practice Type
The employment type also impacts earnings:
Physicians in private practice may have higher earning potential due to profit-sharing but also encounter higher overhead costs.
Employed physicians may receive a stable salary with benefits but might not earn as much as those in private practice.
5. Other Influencing Factors
Other factors affecting doctor salaries include:
Work hours: More hours usually result in higher pay.
Bonuses and incentives: Many hospitals offer performance bonuses that can significantly increase annual earnings.
Malpractice insurance costs: These can differ by specialty and affect net income.
In conclusion, although there isn't a one-size-fits-all answer to how much doctors earn yearly due to the many variables involved, it's safe to say that most physicians earn between $200,000 and $600,000, depending on their specialty and circumstances.
Top 3 Reliable Sources Used
Medscape Physician Compensation Report
Bureau of Labor Statistics (BLS)
American Medical Association (AMA)
These sources offer detailed data on physician salaries across various specialties and geographic locations based on extensive surveys and labor statistics analysis.
Stay blessed!
JC.