Considering a career in medicine is a significant decision, and understanding the potential financial rewards is a valid part of that process. While the primary motivation for most doctors is helping others, it’s also important to be aware of the varying salary scales across different medical specialties. Becoming a doctor in 2024 assures a strong financial future, but some specialties significantly outpace the average physician salary. This article breaks down the Highest Paying Jobs For Doctors in the US, providing insights into what factors influence earning potential and which medical paths offer the most lucrative careers.
Jonathan Preminger, Former Admissions Committee Member, Hofstra-Northwell School of Medicine
Exploring the Landscape of Highest Paid Doctor Specialties
Determining the highest paying doctor jobs requires looking at comprehensive data. Our ranking is based on information from the Physician Compensation Report, a reputable source for physician salary data. Below is a table outlining the top 20 highest paying medical specialties and their average annual incomes:
| 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 each of these high-paying medical specialties to understand what they entail.
1. Neurosurgery: Leading the Highest Paying Doctor Jobs
Neurosurgery consistently ranks as the highest paying job for doctors. This demanding specialty focuses on the surgical treatment of diseases affecting the brain, spinal cord, and peripheral nerves. Neurosurgery residency is extensive, requiring at least seven years of specialized training. The complexity and critical nature of neurosurgery contribute to its top position, with neurosurgeons earning an average annual compensation of $763,908.
2. Thoracic Surgery: Specialized Cardiac and Pulmonary Care
Thoracic surgeons are experts in operating on organs within the chest cavity, including the heart, lungs, and esophagus. They address a wide range of conditions from lung cancer to heart defects. The intricate procedures and vital organs involved in thoracic surgery justify its high compensation. Thoracic surgeons can expect an average annual salary of $720,634.
3. Orthopedic Surgery: Pioneers in Musculoskeletal Health
Orthopedic surgeons specialize in the musculoskeletal system, treating bones, joints, ligaments, tendons, and muscles. From sports injuries to joint replacements, orthopedic surgery plays a crucial role in restoring mobility and function. The high demand for these procedures and the technical skills required place orthopedic surgery among the highest paying doctor specialties, with an average annual income of $654,815.
4. Plastic Surgery: Combining Art and Medicine for Reconstruction and Aesthetics
Plastic surgery encompasses both reconstructive and aesthetic procedures. Plastic surgeons work to repair and restore form and function after injuries or surgeries, as well as enhance appearance through cosmetic procedures. The blend of surgical precision and artistic vision, along with the extensive six-year residency, results in a high average annual compensation of $619,812 for plastic surgeons.
5. Oral and Maxillofacial Surgery: Specialized Dental Surgeons of the Face and Jaw
Oral and maxillofacial surgery is a unique specialty bridging dentistry and medicine. These surgeons treat conditions affecting the mouth, jaws, face, and neck, including injuries, diseases, and deformities. Their specialized skills and dual understanding of dental and medical principles lead to an average annual salary of $603,623.
6. Radiation Oncology: Harnessing Radiation to Combat Cancer
Radiation oncologists are cancer specialists who use radiation therapy to treat malignancies. They are responsible for planning and overseeing radiation treatment, ensuring patient safety and maximizing treatment effectiveness. The critical role in cancer care and specialized knowledge of radiation therapy contribute to radiation oncologists earning an average of $569,170 per year.
7. Cardiology: Experts in Heart Health and Cardiovascular Function
Cardiologists focus on the diagnosis, treatment, and prevention of heart and blood vessel diseases. From managing heart attacks to performing complex interventions, cardiologists are central to cardiovascular health. The high prevalence of heart disease and the complexity of cardiac care make cardiology a high-earning specialty, with an average annual salary of $565,485.
8. Vascular Surgery: Maintaining the Body’s Circulatory System
Vascular surgeons specialize in the blood vessels outside of the heart, addressing conditions like aneurysms, blood clots, and poor circulation. They employ both open surgery and minimally invasive techniques to restore and maintain blood flow. The intricate nature of vascular procedures and their impact on overall health contribute to vascular surgeons earning an average of $556,070 annually.
9. Radiology: The Diagnostic Eyes of Medicine
Radiologists are essential in modern medicine, interpreting medical images such as X-rays, CT scans, MRIs, and PET scans to diagnose and monitor diseases. They are consultants to almost every medical specialty, providing crucial diagnostic information. The demand for their expertise and the critical role in diagnosis result in an average annual salary of $531,983 for radiologists.
10. Urology: Specialists in the Urinary and Male Reproductive Systems
Urologists treat conditions of the urinary tract in both men and women, and the male reproductive system. From kidney stones to prostate cancer, urologists address a broad spectrum of health issues. Their specialized knowledge in these areas leads to an average annual compensation of $529,140.
11. Gastroenterology: Caring for the Digestive System
Gastroenterologists specialize in the digestive system, diagnosing and treating conditions affecting the stomach, intestines, liver, pancreas, and related organs. With the increasing prevalence of digestive disorders, gastroenterologists are in high demand, earning an average annual salary of $514,208.
12. Otolaryngology (ENT): Experts in Head and Neck Disorders
Otolaryngologists, also known as ENT doctors, focus on disorders of the ears, nose, and throat, as well as related structures of the head and neck. From ear infections to sinus surgery and head and neck cancers, their expertise covers a wide range of conditions. Otolaryngologists earn an average annual salary of $502,543.
13. Anesthesiology: Ensuring Patient Comfort and Safety During Procedures
Anesthesiologists are critical in perioperative care, managing pain and maintaining patient safety before, during, and after surgery and other medical procedures. Their expertise in pain management and critical care is vital. Anesthesiologists earn an average annual compensation of $494,522.
14. Dermatology: Specialists in Skin, Hair, and Nail Health
Dermatologists specialize in conditions of the skin, hair, and nails. They diagnose and treat a wide range of dermatological diseases, from acne to skin cancer, and also offer cosmetic procedures. The demand for both medical and cosmetic dermatology contributes to an average annual salary of $493,659.
15. Oncology: Comprehensive Cancer Care Management
Oncologists are medical specialists dedicated to the diagnosis, treatment, and management of cancer. They guide patients through complex treatment plans, offering medical, radiation, and surgical oncology options depending on the cancer type and stage. Oncologists earn an average annual salary of $479,754.
16. Ophthalmology: Vision Care and Eye Surgery Experts
Ophthalmologists are eye doctors with extensive medical and surgical training. They provide comprehensive eye care, including vision exams, medical treatment of eye diseases, and eye surgery. The importance of vision and the specialized surgical skills required in ophthalmology result in an average annual compensation of $468,581.
17. General Surgery: A Broad Foundation in Surgical Practice
General surgeons possess a wide range of surgical skills and knowledge, dealing with diseases affecting various parts of the body. They handle a diverse array of surgical procedures and often form the backbone of surgical care in hospitals. General surgeons earn an average annual salary of $464,071.
18. Colon & Rectal Surgery: Specialized Care for the Lower Digestive Tract
Colon and rectal surgeons, also known as colorectal surgeons, focus on diseases of the colon, rectum, and anus. They treat conditions like colorectal cancer, inflammatory bowel disease, and other disorders of the lower digestive tract. These specialists earn an average annual salary of $455,282.
19. Pulmonology: Caring for the Respiratory System
Pulmonologists specialize in diseases of the respiratory system, including the lungs. They diagnose and treat conditions like asthma, COPD, pneumonia, and lung cancer. With respiratory illnesses being common, pulmonologists play a vital role and earn an average annual salary of $410,905.
20. Emergency Medicine: Frontline Care for Acute Conditions
Emergency medicine physicians work in hospital emergency departments, providing immediate care for patients with acute illnesses and injuries. They require broad medical knowledge and the ability to act quickly in critical situations. Emergency medicine physicians earn an average annual salary of $398,990.
Factors Influencing Doctor Compensation
While specialty is a major determinant of salary, several other factors affect how much doctors earn.
Specialty Choice: As evident from the list, surgical and procedural specialties generally command higher salaries. This is often attributed to the longer training periods, higher procedural volumes, and the critical nature of these specialties.
Geographic Location: Salaries can vary significantly by state and city due to factors like cost of living, demand for specific specialties, and local healthcare market dynamics.
Years of Experience: Like most professions, physician salaries typically increase with experience and seniority.
Practice Setting: Employment in private practice, hospitals, academic institutions, or government facilities can also influence income levels.
Location Matters: Top Paying States and Cities for Doctors
Interestingly, some of the highest paying states for physicians aren’t necessarily the most populous or expensive. States like Wisconsin, Indiana, and Georgia often top the lists for physician compensation.
Here’s a look at the highest-paying states for physicians based on reports like Medscape’s Physician Compensation Report:
| 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 provides insights into 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. What is the Income Range for the Highest-Paid Doctors?
The top earners, particularly in neurosurgery, thoracic surgery, and orthopedic surgery, often make $600,000 per year and above, with neurosurgeons sometimes exceeding $780,000.
2. Which Medical Doctors Are Paid the Most in the US?
Neurosurgeons consistently top the list of highest paid doctors in the US.
3. Is There a Salary Difference Between MDs and DOs?
Generally, MD (Doctor of Medicine) and DO (Doctor of Osteopathic Medicine) physicians have comparable earning potential. However, MDs may be slightly more likely to pursue highly specialized and thus higher-paying fields.
4. Why Do Primary Care Physicians Often Earn Less?
Several factors contribute to this, including shorter residency durations compared to specialized surgical fields and the reimbursement models for primary care services.
5. Among Surgeons, Who Are the Highest Earners?
Neurosurgeons are typically the highest-paid surgeons due to the complexity, risk, and demand associated with their specialty.
Final Thoughts: Balancing Financial Goals and Career Satisfaction
While understanding the highest paying jobs for doctors is valuable, it’s crucial to remember that career satisfaction, personal interests, and work-life balance are equally important considerations when choosing a medical specialty. While the financial rewards in certain fields like neurosurgery and thoracic surgery are significant, passion for your chosen field and overall job satisfaction should be paramount. Exploring your interests and considering various medical specialties will lead you to a fulfilling and potentially lucrative career in medicine.
