Becoming a doctor is a career path that promises financial stability, and in 2024, physicians in the United States earn a substantial annual salary. While the national median income for physicians and surgeons is a healthy $239,200 per year, certain medical specialties command significantly higher earnings. If you’re considering a career in medicine and are interested in understanding the landscape of physician compensation, this article breaks down the highest-paid doctors in the US, revealing which specialties lead the way in income.
Jonathan Preminger, Former Admissions Committee Member, Hofstra-Northwell School of Medicine, reviewing article about highest paid doctors
Unveiling the Highest-Paid Medical Specialties in 2024
Determining the top earners in the medical field requires a comprehensive analysis of compensation data. Our ranking of the highest-paid doctors is based on information from the reputable Physician Compensation Report, a trusted source for physician salary insights. This report provides a detailed look at average annual incomes across various medical specialties, allowing us to identify which doctors are taking home the largest paychecks.
| Specialty | Average Annual Income |
|---|---|
| Neurosurgery | $763,908 |
| Thoracic Surgery | $720,634 |
| Orthopedic Surgery | $654,815 |
| Plastic Surgery | $619,812 |
| Oral & Maxillofacial Surgery | $603,623 |
| Radiation Oncology | $569,170 |
| Cardiology | $565,485 |
| Vascular Surgery | $556,070 |
| Radiology | $531,983 |
| Urology | $529,140 |
| Gastroenterology | $514,208 |
| Otolaryngology (ENT) | $502,543 |
| Anesthesiology | $494,522 |
| Dermatology | $493,659 |
| Oncology | $479,754 |
| Ophthalmology | $468,581 |
| General Surgery | $464,071 |
| Colon & Rectal Surgery | $455,282 |
| Pulmonology | $410,905 |
| Emergency Medicine | $398,990 |
Let’s delve deeper into the top-paying medical specialties and explore what makes them so financially rewarding.
1. Neurosurgery
Neurosurgery consistently ranks as the highest-paid medical specialty. Neurosurgeons are specialists in the surgical treatment of diseases affecting the brain, spinal cord, and peripheral nerves. This highly demanding field requires an extensive seven-year residency after medical school. The intricate nature of neurosurgery, combined with the critical importance of the organs they treat, contributes to their leading average annual compensation of $763,908.
2. Thoracic Surgery
Thoracic surgeons specialize in surgeries within the chest cavity, focusing on organs such as the heart, lungs, and esophagus. These surgeons, often referred to as cardiothoracic surgeons, are crucial in treating a wide range of conditions, from lung diseases and heart failure to congenital heart defects. The complexity and high-stakes nature of cardiothoracic procedures are reflected in their average annual salary of $720,634.
3. Orthopedic Surgery
Orthopedic surgeons are experts in the musculoskeletal system, treating injuries and conditions affecting bones, joints, ligaments, tendons, and muscles. The demand for orthopedic procedures, driven by factors like sports injuries and an aging population, has contributed to the rise in orthopedic surgeon compensation. The average annual income for orthopedic surgeons in the US is $654,815.
4. Plastic Surgery
Plastic surgery encompasses both cosmetic and reconstructive procedures, addressing a wide variety of patient needs from enhancing appearance to restoring function after injury or illness. Plastic surgery residencies are among the longest, requiring six years of specialized training. The combination of elective cosmetic procedures and complex reconstructive surgeries contributes to the high average annual compensation for plastic surgeons, which stands at $619,812.
5. Oral and Maxillofacial Surgery
While rooted in dentistry, oral and maxillofacial surgery is a distinct specialty focused on the surgical treatment of diseases, injuries, and defects of the face, mouth, jaws, head, and neck. Their expertise bridges dentistry and medicine, allowing them to perform complex procedures in the head and neck region. Oral and maxillofacial surgeons earn an average annual salary of $603,623.
6. Radiation Oncology
Radiation oncologists are cancer specialists who utilize radiation therapy to treat malignancies. They are responsible for planning and overseeing radiation treatment, ensuring patient safety and understanding throughout the process. The critical role of radiation oncology in cancer care is reflected in their average annual compensation of $569,170.
7. Cardiology
Cardiology is the branch of medicine focused on the heart and blood vessels. Cardiologists diagnose, treat, and prevent diseases of the cardiovascular system. The prevalence of heart disease and the complexity of cardiac interventions make cardiology a high-demand and high-earning specialty. Cardiologists in the US earn an average annual salary of $565,485.
8. Vascular Surgery
Vascular surgeons specialize in the surgical treatment of the vascular system, which includes arteries and veins throughout the body, excluding the heart and brain. They manage conditions such as aneurysms, blood clots, and peripheral artery disease through both open surgery and minimally invasive techniques. Vascular surgeons can expect an average yearly salary of $556,070.
9. Radiology
Radiologists are physician experts in interpreting medical images, including X-rays, CT scans, MRI scans, and PET scans. They play a vital role in diagnosis and treatment planning across nearly all medical specialties. The demand for accurate and timely image interpretation makes radiology a crucial and well-compensated field. Radiologists earn an average annual salary of $531,983.
10. Urology
Urology focuses on the urinary tract in both sexes and the male reproductive system. Urologists diagnose and treat conditions ranging from kidney stones and urinary infections to prostate cancer and male infertility. The breadth of conditions treated within urology contributes to a strong average annual salary for urologists, currently at $529,140.
11. Gastroenterology
Gastroenterologists specialize in the digestive system, addressing conditions affecting the stomach, intestines, liver, pancreas, and related organs. They diagnose and treat a wide range of disorders, from irritable bowel syndrome to liver disease. Gastroenterologists earn an average annual income of $514,208.
12. Otolaryngology (ENT)
Otolaryngologists, often called ENT doctors, focus on disorders of the ear, nose, and throat, as well as related structures of the head and neck. They treat conditions such as hearing loss, sinusitis, tonsillitis, and head and neck cancers. Otolaryngologists have an average annual salary of $502,543.
13. Anesthesiology
Anesthesiologists are critical care physicians who manage pain and patient status before, during, and after surgical procedures and other medical interventions. Their expertise is essential for patient safety and comfort in a wide range of medical settings. Anesthesiologists earn an average annual salary of $494,522.
14. Dermatology
Dermatologists specialize in conditions of the skin, hair, and nails. They diagnose and treat a wide range of dermatological diseases, from acne and eczema to skin cancer. The demand for both medical and cosmetic dermatology services contributes to a solid average annual salary for dermatologists, which is $493,659.
15. Oncology
Oncologists are medical specialists dedicated to the diagnosis, treatment, and management of cancer. They coordinate cancer care, discuss treatment options with patients, and provide ongoing support. Given the complexity and prevalence of cancer, oncologists play a vital role in healthcare, reflected in their average annual salary of $479,754.
16. Ophthalmology
Ophthalmologists are eye physicians and surgeons providing comprehensive eye care, from vision exams to complex surgical procedures. They treat a wide spectrum of eye diseases and vision problems. Ophthalmologists earn an average annual income of $468,581.
17. General Surgery
General surgeons are trained in a broad range of surgical procedures affecting various organ systems. They possess core knowledge in anatomy, physiology, metabolism, and other fundamental medical sciences, allowing them to manage a wide array of surgical conditions. General surgeons can expect an average annual salary of $464,071.
18. Colon & Rectal Surgery
Colon and rectal surgeons, also known as colorectal surgeons, specialize in the surgical treatment of conditions affecting the colon, rectum, and anus, which are parts of the lower digestive system. They manage diseases such as colorectal cancer, inflammatory bowel disease, and hemorrhoids. These surgeons earn an average annual salary of $455,282.
19. Pulmonology
Pulmonologists are specialists in the respiratory system, diagnosing and treating conditions affecting the lungs and airways, such as asthma, COPD, pneumonia, and lung cancer. The increasing prevalence of respiratory diseases ensures a consistent demand for pulmonology services. Pulmonologists earn an average annual salary of $410,905.
20. Emergency Medicine
Emergency medicine physicians work in hospital emergency departments, providing immediate care to patients with acute illnesses and injuries. They must be prepared to handle a wide range of medical emergencies at any time. Emergency medicine physicians earn an average annual salary of $398,990.
Factors Influencing Physician Compensation
While specialty is a primary determinant of physician salary, several other factors can influence a doctor’s earning potential.
One significant factor is medical specialty choice. As highlighted by reports from Doximity & Curative, surgical and procedural specialties focused on adult patients tend to command the highest compensation. This reflects the longer training periods, higher procedural volume, and often greater risk and complexity associated with these fields.
Geographic location also plays a crucial role in physician salaries. Demand for certain specialties can vary by region, and cost of living differences can impact salary adjustments. States and cities with higher demand or lower physician density may offer more competitive compensation packages.
Years of experience and seniority are also important factors. Physicians typically see their earning potential increase as they gain experience and build their practice or advance within a hospital or healthcare system. Senior physicians with established reputations and specialized skills are often compensated at higher levels.
Furthermore, the type of employer and benefits packages can influence total compensation. Doctors employed by large hospital systems or private practices may have different salary structures and benefit offerings compared to those in academic or government positions. Benefits such as retirement plans, health insurance, and malpractice coverage contribute to the overall financial package.
Most Lucrative States for Doctors’ Salaries
Interestingly, the highest-paying states for physicians are not necessarily the most populous or expensive. According to Medscape’s Physician Compensation Report, states in the Midwest and Southeast often lead in physician salaries.
| State | Average Annual Physician Salary |
|---|---|
| Wisconsin | $397,000 |
| Indiana | $372,000 |
| Georgia | $363,000 |
| Connecticut | $362,000 |
| Missouri | $361,000 |
| New Jersey | $360,000 |
| South Carolina | $360,000 |
| Florida | $359,000 |
| California | $358,000 |
| Michigan | $356,000 |
These figures suggest that factors beyond just cost of living, such as regional demand and healthcare market dynamics, contribute to state-level salary variations.
Top Paying Cities for Physicians
Doximity data further pinpoints specific metropolitan areas where physician salaries are particularly high. These cities represent diverse geographic locations, suggesting that high compensation opportunities exist across the country.
| City | Average Annual Physician Salary |
|---|---|
| Charlotte, NC | $430,890 |
| St. Louis, MO | $426,370 |
| Oklahoma City, OK | $425,096 |
| San Jose, CA | $418,600 |
| Minneapolis, MN | $411,677 |
| Sacramento, CA | $411,257 |
| Phoenix, AZ | $409,185 |
| Indianapolis, IN | $408,199 |
| Salt Lake City, UT | $408,044 |
| Atlanta, GA | $407,863 |
These city-level data points provide valuable insights for physicians considering relocation or for those seeking to maximize their earning potential within specific geographic areas.
Frequently Asked Questions
Here are answers to common questions about physician compensation and the highest-paid medical specialties in the US.
1. What is the Earning Potential of the Highest-Paid Doctors?
The top-tier of highest-paid physicians, particularly those in surgical and procedural specialties like neurosurgery, thoracic surgery, and orthopedic surgery, can earn an average annual salary exceeding $600,000 and potentially reaching upwards of $780,000 or more for neurosurgeons.
2. Which Medical Specialties Represent the Highest-Paid Doctors in the US?
Neurosurgery consistently tops the list as the highest-paid specialty. Following closely are thoracic surgery, orthopedic surgery, plastic surgery, and oral and maxillofacial surgery. These surgical fields generally dominate the upper end of the physician compensation spectrum.
3. Is There a Salary Difference Between MD and DO Physicians?
Generally, there is no significant pay disparity between Doctors of Medicine (MDs) and Doctors of Osteopathic Medicine (DOs) performing the same roles. However, some data suggests that MDs may be slightly more likely to pursue highly specialized, and thus higher-paying, fields, potentially leading to a statistical difference in average earnings when considering all MDs versus all DOs.
4. Why Do Primary Care Physicians Often Earn Less Than Specialists?
The reasons for the compensation gap between primary care and specialist physicians are complex. Factors contributing to this difference may include the shorter residency duration for some primary care specialties compared to highly specialized surgical fields, as well as differences in reimbursement models and the types of procedures performed. The healthcare system’s valuation of different types of care also plays a role.
5. Among Surgeons, Which Specialties Are the Highest Paid?
Within surgery, neurosurgery is typically the highest-paid surgical specialty. Thoracic surgery and orthopedic surgery also consistently rank among the top-earning surgical fields, reflecting the demanding nature and specialized skills required in these disciplines.
Final Considerations
While salary is an important factor to consider when choosing a medical specialty, it should not be the sole determinant. As we’ve seen, surgical specialties often lead in compensation, but passion, personal interests, work-life balance preferences, and desired geographic location are equally crucial factors for long-term career satisfaction. Ultimately, choosing a medical field that aligns with your values and provides genuine fulfillment is paramount, even as you consider the financial implications of different career paths. A fulfilling career in medicine is one where job satisfaction takes precedence, leading to both personal and professional well-being.
