How Much Do Doctors Make?

In Physician, Salary
November 3, 2016

How Much Do Doctors Make?

If you’re wondering how much doctors make, you’ve come to the right place. This article takes an in-depth look at job growth and salaries of physicians and surgeons across the country over the next decade.

If you’re considering a job in healthcare, now is a great time to pursue a career as a physician or surgeon. With the current physician shortage, the demand for these high-level positions is projected to remain high for the foreseeable future, meaning rising salaries and benefits for skilled professionals. Also, by going the distance and becoming a physician, you can specialize in any of a myriad of areas that may interest you.

How Much Do Doctors Make?

How much a physician can make via salary can vary dramatically depending on several factors, including location, age, experience, education, skill-level, type of position and several others.

As represented in the graph below, physicians and surgeons can expect to earn a median hourly wage of $90.49 , or $188,223 per year, but these numbers vary dramatically depending upon the specialization chosen.

Doctor Salary - How Much Do Doctors Make?

If you’re looking to earn more, however, you can directly influence this figure to increase your income further by specializing in a particular area, doing consulting work, travelling, or by running your own practice.

Return on Investment for Doctors

In order to become a doctor, students must pursue a either a bachelor’s degree, generally taking 4 years of your time. This must be followed by the completion of a 4-year medical degree program and residency of varying length. You must then acquire the required state license. In total, physicians and surgeons are looking at a minimum of 8 years of high education, at least 2 years of residency, and the costs that come along with it.

The return on investment for doctors will ultimately vary based on the individual, their circumstances, the school of choice, the location in which they work, whether they choose to work in corporate or private practices, and other factors. Higher level positions generally require that students go further into debt in order to complete their education, so being sure about what you want before pursuing a career as a medical doctor is paramount.

Regardless of which path you choose, with a projected 180,000 new doctors and surgeons being employed between 2016 and 2030, you can be confident that you’ll have a position waiting on you if you choose to pursue this career path.

Best States for Doctors Salaries

StateEmploymentEmp. / 1000Location QuotientHourlyAnnual
New Hampshire20303.21.37$117.65$244,710
Alabama53002.821.2$117.11$243,590
Wyoming3601.260.54$116.25$241,800
Minnesota39801.430.61$114.97$239,130
Montana12002.681.14$113.86$236,840
South Dakota3500.850.36$113.81$236,720
Tennessee54401.930.83$112.79$234,610
Colorado25001.020.44$112.34$233,660
Indiana83802.841.22$109.51$227,780
Wisconsin54201.950.83$108.55$225,790
Washington46301.550.66$106.76$222,060
Georgia106002.581.1$106.51$221,540
Iowa21001.380.59$106.41$221,330
North Dakota3700.830.36$105.56$219,560
Hawaii10001.620.69$105.22$218,860
New Mexico16702.10.9$105.05$218,510
Oklahoma30401.910.81$104.78$217,930
Vermont6402.110.9$102.06$212,280
West Virginia27803.931.68$101.98$212,130
Maine24104.081.74$101.33$210,760
Virginia74502.020.86$100.30$208,620
Nevada13701.110.47$99.99$207,990
IdahoNo dataNo dataNo data$99.95$207,890
Delaware14803.421.46$99.26$206,450
Missouri33801.250.53$98.86$205,630
Arizona43401.680.72$98.74$205,370
Utah15201.150.49$98.47$204,810
California218501.410.6$98.04$203.920
Ohio149802.841.21$97.36$202,520
North Carolina90402.190.94$97.22$202,220
Louisiana34101.760.75$96.99$201,740
Oregon50002.881.23$96.45$200,610
Florida169302.140.91$96.02$199,720
South Carolina24601.280.55$95.76$199,180
Texas198701.720.73$94.91$197,410
Kansas33002.41.03$93.28$194,020
Pennsylvania174603.061.31$91.13$189,560
Connecticut52203.151.35$91.12$189,540
Illinois138302.361.01$91.05$189,390
New Jersey142703.651.56$90.26$187,750
Mississippi20101.820.78$88.55$184,180
Michigan129103.111.33$87.98$183,000
Maryland95603.681.57$87.81$182,650
New York435404.852.07$85.37$177,580
Alaska2800.850.37$84.84$176,470
Kentucky34701.890.81$84.06$174,840
Arkansas24302.070.88$83.23$173,120
Rhode Island25805.482.34$81.31$169,120
DC20403.021.29$80.35$167,130
Massachusetts100402.961.26$77.76$161,730
Nebraska16301.710.73$77.42$161,040

Advance your career. Change your life.

Related:

COMMENTS