Jonathan Preminger MD, Former Admissions Committee Member at Hofstra-Northwell School of Medicine, reviewing the article on highest paid doctor specialties.
Choosing a medical career path is a significant decision, and for many, understanding potential earning is a key consideration. While a career as a physician is generally financially rewarding, certain medical specialties offer significantly higher compensation than others. In 2024, the landscape of physician salaries reveals a clear hierarchy, with some doctors earning substantially more than the national median physician salary of $239,200 annually. This article delves into the data to uncover What Is The Highest Paid Doctor and which medical specialties top the income charts in the United States.
Unveiling the Highest-Paid Medical Specialties in 2024
Identifying the highest-paid doctors requires a close look at compensation data. Our analysis is based on the reputable Physician Compensation Report, which provides a detailed breakdown of physician earnings across various specialties.
| 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 |
The table clearly indicates that surgical specialties dominate the top positions in physician compensation. Let’s examine the top 20 highest-paying medical specialties in more detail.
1. Neurosurgery: The Peak of Physician Earnings
Neurosurgery emerges as the highest paid doctor specialty. Neurosurgeons are specialists who operate on the nervous system, including the brain, spinal cord, and peripheral nerves. This demanding field requires an extensive residency of at least seven years, reflecting the complexity and critical nature of their work. The average annual salary for neurosurgeons is a remarkable $763,908, making them the highest earners among all physician specialties. Their work often involves life-saving procedures and managing highly complex conditions, justifying their top-tier compensation.
2. Thoracic Surgery: Expertise in Chest Cavity Procedures
Thoracic surgeons rank second on the list of highest-paid doctors. They specialize in surgical procedures within the chest cavity, focusing on organs such as the heart, lungs, and esophagus. Cardiothoracic surgeons are crucial in treating a wide array of conditions, from lung diseases and heart failure to congenital heart defects. The average annual income for thoracic surgeons is $720,634, reflecting the intricate skills and high-stakes environment of cardiothoracic surgery.
3. Orthopedic Surgery: Musculoskeletal Specialists
Orthopedic surgeons are experts in the musculoskeletal system, treating conditions affecting bones, joints, ligaments, tendons, and muscles. Orthopedics has seen a significant rise in physician compensation, becoming one of the top-earning specialties. The demand for orthopedic procedures, driven by sports injuries, aging populations, and advancements in joint replacement, contributes to their high earning potential. Orthopedic surgeons in the US earn an average annual income of $654,815.
4. Plastic Surgery: Reconstruction and Aesthetics
Plastic surgeons perform both reconstructive and cosmetic surgeries across the entire body. Plastic surgery residencies are among the longest, lasting six years, emphasizing the breadth and depth of training required. The combination of reconstructive procedures, addressing injuries and congenital disabilities, and the booming field of cosmetic surgery places plastic surgeons among the highest-paid doctors, with an average annual compensation of $619,812.
5. Oral and Maxillofacial Surgery: Dental and Facial Experts
Oral and maxillofacial surgery, while technically a dental specialty, is practiced by surgeons with extensive medical and surgical training. These specialists treat diseases, injuries, and defects of the face, head, neck, jaws, and oral cavity. Their dual expertise in dentistry and surgery allows them to perform complex procedures, contributing to an average annual salary of $603,623.
6. Radiation Oncology: Cancer Treatment with Radiation
Radiation oncologists specialize in treating cancer using radiation therapy. They are not only skilled in delivering radiation treatment but also in managing the overall care of cancer patients, including understanding the benefits and risks of radiation therapy. Their crucial role in cancer care and the technical expertise required for radiation oncology contribute to an average annual income of $569,170.
7. Cardiology: Heart and Vascular System Specialists
Cardiologists focus on the diagnosis, treatment, and prevention of diseases of the cardiovascular system – the heart and blood vessels. Cardiology is consistently a high-earning specialty, with potential for even higher income based on subspecialization, such as interventional cardiology or electrophysiology. The average annual salary for cardiologists is $565,485, reflecting the critical importance of heart health and the complexity of cardiovascular diseases.
8. Vascular Surgery: Blood Vessel Experts
Vascular surgeons are specialists in the surgical and minimally invasive treatment of blood vessel diseases. They address conditions like aneurysms, blood clots, and deep vein thrombosis, ensuring proper blood flow throughout the body. Vascular surgery demands precision and expertise in managing delicate vascular structures, resulting in an average annual salary of $556,070.
9. Radiology: Medical Image Interpretation
Radiologists are physician experts in interpreting medical images, including X-rays, CT scans, MRIs, and PET scans. They play a vital role in diagnosing and monitoring a vast range of medical conditions across all specialties. Radiology’s central role in modern diagnostics and the need for specialized interpretation skills lead to an average annual income of $531,983.
10. Urology: Urinary and Male Reproductive System Specialists
Urologists specialize in the urinary system and the male reproductive system. They diagnose and treat conditions affecting the kidneys, bladder, prostate, and male genitalia. The breadth of conditions managed by urologists, from kidney stones to prostate cancer, contributes to a strong average annual salary of $529,140.
11. Gastroenterology: Digestive System Experts
Gastroenterologists specialize in the digestive system, addressing conditions affecting the stomach, intestines, liver, pancreas, and related organs. With the increasing prevalence of digestive disorders, gastroenterologists are in high demand. Their expertise in endoscopy and managing complex digestive diseases results in an average annual income of $514,208.
12. Otolaryngology (ENT): Head and Neck Specialists
Otolaryngologists, also known as ENT doctors, specialize in disorders of the head and neck, primarily focusing on the ears, nose, and throat. They treat a wide range of conditions, from hearing loss and sinusitis to head and neck cancers. The specialized nature of ENT care leads to an average annual salary of $502,543.
13. Anesthesiology: Pain Management and Perioperative Care
Anesthesiologists are crucial members of the surgical team, managing patient care before, during, and after surgery. They are experts in pain management, critical care medicine, and ensuring patient safety during procedures. The critical role of anesthesiologists in modern surgical practice and pain management contributes to an average annual income of $494,522.
14. Dermatology: Skin, Hair, and Nail Specialists
Dermatologists specialize in conditions of the skin, hair, and nails. The field encompasses medical, surgical, and cosmetic dermatology, offering diverse career paths. The high demand for both medical and cosmetic dermatology services results in an average annual salary of $493,659.
15. Oncology: Cancer Diagnosis and Treatment
Oncologists are specialists in the diagnosis, treatment, and management of cancer. They guide patients through complex treatment plans, oversee cancer therapies, and provide ongoing care. The critical role of oncologists in fighting cancer and managing complex patient needs leads to an average annual income of $479,754.
16. Ophthalmology: Eye and Vision Care Specialists
Ophthalmologists are eye doctors with extensive medical and surgical training. They provide comprehensive eye care, including vision correction, medical treatment of eye diseases, and eye surgery. The importance of vision care and the surgical expertise of ophthalmologists contribute to an average annual income of $468,581.
17. General Surgery: Broad Surgical Expertise
General surgeons possess a wide range of surgical skills and knowledge across various organ systems. They manage a diverse array of surgical conditions, often requiring broad expertise and adaptability. General surgeons earn an average annual salary of $464,071.
18. Colon & Rectal Surgery: Lower Gastrointestinal Tract Specialists
Colon and rectal surgeons, also known as colorectal surgeons, specialize in conditions of the lower gastrointestinal tract, specifically the large intestine and rectum. They treat conditions like colorectal cancer, inflammatory bowel disease, and other disorders of the lower digestive system. Their specialized surgical skills lead to an average annual salary of $455,282.
19. Pulmonology: Respiratory System Experts
Pulmonologists specialize in diseases of the respiratory system, including the lungs and airways. They diagnose and treat conditions like asthma, COPD, emphysema, and lung cancer. With the rising prevalence of respiratory illnesses, pulmonologists play a vital role in healthcare, earning an average annual salary of $410,905.
20. Emergency Medicine: Acute Care Specialists
Emergency medicine physicians work in emergency departments, providing immediate care to patients with acute illnesses and injuries. They must be prepared to handle a wide range of medical emergencies, requiring quick thinking and broad medical knowledge. Emergency medicine physicians earn an average annual salary of $398,990.
Factors Influencing Doctor Compensation
Beyond medical specialty, several factors can influence a doctor’s earning potential.
- Specialty Choice: As evidenced by the data, the choice of medical specialty is the most significant determinant of salary. Surgical and procedural specialties, particularly those focused on adult patients, tend to be the highest paying.
- Geographic Location: The location where a doctor practices significantly impacts their income. States and cities with higher costs of living or greater demand for specific specialties may offer higher salaries.
- Years of Experience: Seniority and experience typically lead to increased compensation in most medical specialties.
- Practice Setting: The type of employment, whether in a private practice, hospital system, academic institution, or other setting, can affect income.
- Employer Benefits: Benefits packages, including retirement plans, health insurance, and other perks, can indirectly impact total compensation.
Geographic Variations in Physician Salaries
While specialty is paramount, location also plays a crucial role in physician compensation. Interestingly, some of the highest-paying states for doctors may not be the most expected. According to Medscape’s Physician Compensation Report, the top-paying states for physicians are:
| 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 |
Doximity data further highlights the highest-paying cities for physicians:
| 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 |
Frequently Asked Questions About Doctor Salaries
1. How Much Do the Highest-Paid Doctors Make?
The top earners in medicine, particularly neurosurgeons, thoracic surgeons, and orthopedic surgeons, can earn upwards of $600,000 to over $750,000 annually.
2. What Are the Highest-Paid Doctors in the US?
Currently, neurosurgeons are recognized as the highest-paid doctors in the US, with average reported earnings exceeding $760,000 per year.
3. How Do MD vs. DO Salaries Compare?
Generally, there is no significant salary difference between MDs and DOs. However, MDs may be slightly more likely to pursue specialized, higher-paying fields, potentially leading to a marginal difference in average earnings across the entire physician population.
4. Why Do Physicians in Primary Care Get Paid Less?
Primary care specialties often involve shorter residency programs and a greater emphasis on patient volume rather than high-intensity procedures, which may contribute to lower average compensation compared to surgical and procedural specialties.
5. What Are the Highest-Paid Surgeons?
Neurosurgeons consistently rank as the highest-paid surgeons, followed by thoracic surgeons, orthopedic surgeons, plastic surgeons, and oral and maxillofacial surgeons.
Final Considerations
While financial compensation is a relevant factor when considering a medical career, it’s crucial to remember that choosing a medical specialty should be driven by passion, interest, and personal fulfillment. While understanding what is the highest paid doctor can be informative, job satisfaction, work-life balance, and alignment with personal values are equally, if not more, important factors in long-term career happiness within the medical field. Aspiring physicians should explore various specialties, consider their strengths and interests, and seek guidance to make informed decisions about their future medical careers.
