The average doctor salary in USA signifies not only years of study but also the factor of demand and the reputation of the different medical disciplines. Based on the findings of the surveys done by the U.S. Bureau of Labor Statistics and other organizations, the average doctor salary in USA is expected to be $239,200 a year in 2023.
However, this figure may vary by individual specialty, geographical location, years of experience, and the type of contract. Whether you’re a medical school student in search of a medical specialty or simply inquisitive about physicians' wage boards, this piece will explore the most current trends in the highest paying medical specialties in the USA.
Factors Influencing the Average Doctor Salaries in USA
The process of grasping the average doctor salary in USA involves determining the various factors that can have a major impact on the earnings of a doctor over a period of time. Here’s a closer look:
1. Specialty
Medical specialty is one of the key variables affecting salary. For instance, the highest paid MD specialties that bring in the most money, such as neurosurgery and orthopaedic surgery, usually result in higher incomes than jobs in general practice. Here's a breakdown of the top-paying medical specialties:
Note: These are among the top paying medical specialties, owing to their high demand, complexity, and generally lengthier training periods. Also, know about the top medical scholarships that can help ease your financial burden.
2. Location
Geography influences the average doctor salary in USA. For instance, the states that face high living costs and lack many physicians tend to be the ones highest earning medical specialties. Below is the average salary by state:
Note: These best earning medical specialties, categorized by states, can vary depending on various other factors. Speaking of geography, explore the best countries to study medicine and what makes each destination unique.
3. Experience
Experienced doctors who have extra certification, along with those occupying top posts, are generally the best paid medical specialties. Distance to education, especially after a few more years of specialized training, is also a reason for this.
4. Work Settings
The typical situation is that the average doctor salary in USA, given by hospitals, is less than what they obtain in their own facilities or specialized clinics.
5. Hourly Wage of Doctors in the USA
According to the US Labor Report for Physicians and Surgeons, the average doctor salary in USA on the basis of hours, varies by industry. Here's the breakdown:
Those who have additional fellowships or certificates in high-demand areas are more likely to earn wages in the highest paid MD specialties.
Why Do Some Specialties Earn More?
The highest paid medical specialists from the top medical schools in the US generally have in common the following qualities:
1. High-Risk Procedures
An obvious choice for one of the highest paid doctor specialities, particularly in surgery, is that of a cardiovascular surgeon. These professionals often have to make decisions with serious repercussions.
Besides, it is worth noting that the requirement for advanced competencies is not necessarily present in other medical specialties.
2. Longer Training
In general, for advanced training, surgical specialists in orthopedic surgery have to work for approximately seven years. Those who choose this demanding road cannot wait to be well compensated, and thus, these professions become some of the most valued and highest paid MD specialties.
3. Private Practice Prospects
Specialties like plastic surgery profit from private practice, which allows doctors to set higher charges, making these disciplines among the highest paid MD specialties due to improved financial flexibility and potential.
MD and Surgeon Salaries in the US by Specialization
Building on the lucrative landscape of MD specialisations, surgical roles take it a step further, offering some of the most elite salaries in the medical field due to their complexity, critical nature, and specialised skill sets.
1. MD
The highest earning medical specialties in the US healthcare sector are often physicians, as well as those who specialize. Earning an MD (Doctor of Medicine) in the US is not merely an academic credential; it requires a long duration of practical residency training.
The intense challenges and the tough selection process mean that the graduates from the MD degree programs usually receive a job offer with excellent financial conditions. Here’s a look at some of the highest paying medical specialties in MD and their corresponding average annual salaries:
Graduates who enter any of these high earning medical specialties may expect not just great job security but also big rewards that make the effort and cost worthwhile.
2. Surgeons
Known for their grueling training, long hours, and high-stakes obligations, surgeons in the United States earn some of the highest salaries of any profession. A surgeon's income can vary greatly depending on their field of specialty and experience, with some experts earning around $800,000 per year. Here’s a breakdown of average salaries by surgical specialization:
Secure Student Housing Across the USA
The profession of medicine in the United States is highly rewarding in both financial and personal aspects. Whether you choose to focus on a specialty or want to start from the very beginning with general practice, the average doctor salary in USA increases as you develop your skills and work in a specialty that has a greater need.
When preparing to study medicine in the U.S., having safe, comfortable, and well-located housing makes all the difference. From proximity to top medical colleges to access to central hospitals and city infrastructure, amber helps future medical professionals find housing that supports their demanding schedules and study needs. Here are some housing locations to consider for safe student housing in the USA:
1. Baylor College of Medicine, Houston, TX
2. Emory University, Atlanta
3. Ohio State University, Columbus
4. University of California, San Diego
5. University of North Carolina, Chapel Hill