Top Paying Medical Specialties in the US

By: LifeofaMedStudent When considering a medical career, factors such as passion, earning potential, and personal fulfillment come into play. Today, we look at a comprehensive overview of the top paying medical specialties in the United States, while also examining compensation differences based on regional variations and gender disparities. Top Paying Medical Specialties and Average Salaries Below is a comprehensive list of medical specialties arranged in descending order based on average annual salaries: Neurosurgery: $737,000 Orthopedic Surgery: $616,000 Cardiac Surgery: $609,000 Gastroenterology: $495,000 Plastic Surgery: $501,000 Thoracic Surgery: $580,000 Urology: $433,000 Dermatology: $419,000 Radiation Oncology: $474,000 Otolaryngology (ENT): $478,000 Vascular Surgery: $487,000 Cardiology: $459,000 Anesthesiology: $427,000 Ophthalmology: $427,000 Colon and Rectal Surgery: $434,000 Critical Care Medicine: $374,000 Neurology: $280,000 Hematology/Oncology: $396,000 General Surgery: $409,000 Radiology: $440,000 Pain Medicine: $383,000 Pulmonary Medicine: $385,000 Infectious Disease: $240,000 Nephrology: $346,000 Physical Medicine and Rehabilitation: $331,000 Obstetrics and Gynecology: $330,000 Pathology: $325,000 Endocrinology: $248,000 Rheumatology: $245,000 Pediatrics: $246,000 Psychiatry: $273,000 Internal Medicine: $260,000 Geriatrics: $232,000 Family Medicine: $236,000 Occupational Medicine: $227,000 Regional Variations in Physician Compensation Physician compensation can vary significantly based on geographic location. The top 5 metro areas with the highest physician compensation are below: Charolette, NC – $430,000 St. Louis, MO – $426,000 Oklahoma City, OK – $425,000 San Jose, CA – $418,000 Minneapolis, MN – $411,000 Compared the bottom 5 metro areas in compensation: Washington, DC – $342,000 Baltimore, MD – $346,000 Boston, MA – $347,000 San Antonio, TX – $347,000 Raleigh, NC – $351,000 Potentially the best way to look at “real” income is to compare salary and cost of living directly. These are places where not only will you earn well, but also be able to get more “bang for your buck!” The top 5 metro areas for salary adjusted cost of living were: Gender Disparities in Medical Specialty Earnings Gender disparities persist within medicine, including differences in compensation. According to a study published in JAMA Internal Medicine, male physicians earned median annual earnings approximately 26% higher than female physicians. This equates to an income difference of nearly $110,000 per year, and potentially a $2 million disparity over a career – even when controlled for specialty, location, and years of experience. It is imperative that we all work address these disparities and find ways to achieve gender equity in the medical field. Understanding the top paying medical specialties and the associated compensation differences based on regional variations and gender disparities provides valuable insights for medical professionals. Neurosurgery, orthopedic surgery, cardiac surgery, and gastroenterology are among the highest paying specialties. However, it’s important to consider factors beyond financial goals when choosing a specialty, such as personal interests, fulfillment, and patient care. References used: Medical Group Management Association (MGMA) JAMA Internal Medicine study on physician compensation Salary data from Merritt Hawkins’ “2021 Review of Physician and Advanced Practition Recruiting Incentives” report American Medical Association (AMA) Physician Compensation Report Medscape Physician Compensation Report Doximity Physician Compensation Report Disclaimer: It is important for individuals considering a medical career to research and consult with professionals in the field to make informed decisions based on their personal circumstances and interests. The information provided in this post is for informational purposes only and should not be considered as financial or career advice. Always consult with appropriate professionals and resources before making any decisions regarding your medical career or financial matters.