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When it comes to compensation, not all physician specialties are created equal. Based on a report from Doximity, average physician compensation in 2024 differs dramatically, ranging from $217,875 to $763,908.
Which specialties come out on top? Let’s discover which specialties have the highest-paid doctors in 2024.
The Highest-Paid Doctors: Top Specialties
At the top of the pay scale, the highest paid doctors work in fields that involve advanced surgical skills, complex procedures, and high levels of risk. These specialties often require extensive training and expertise, with patients predominantly in the adult demographic.
Five highest-paid doctor specialties
- Neurosurgeons – $763,908
- Thoracic surgeons – $720,634
- Orthopaedic surgeons – $654,815
- Plastic surgeons – $619,812
- Oral & maxillofacial surgeons – $603,623
Other top-paying specialties include radiation oncology ($569,170), cardiology ($565,485), and vascular surgery ($556,070).
The Lowest-Paid Specialties
At the other end of the spectrum, primary care and pediatric specialties have the lowest compensation levels. These doctors focus more on preventive care, managing chronic conditions, and treating younger populations. Despite their essential role in healthcare, these specialties often earn less, likely due to fewer opportunities for high-cost procedures.
Five lowest-paid doctor specialties
- Pediatric endocrinology – $217,875
- Pediatric nephrology – $227,450
- Pediatric rheumatology – $233,491
- Pediatric infectious disease – $236,235
- Medical genetics – $244,517
Other lower-paid specialties include preventive medicine ($282,011), geriatrics ($289,201), and endocrinology ($291,481), which focus on long-term health and chronic disease management rather than high-revenue procedures.
Why the Disparities?
There are several reasons why the highest-paid doctors are often in surgical and procedural specialties, while primary care and pediatric doctors earn less:
- Procedure-Driven Revenue: Specialties that focus on surgeries and invasive procedures tend to bill higher amounts, leading to larger revenues and higher compensation.
- Patient Demographics and Needs: Specialties that focus on preventive and pediatric care often involve a wider patient base but generate lower revenues compared to high-stakes procedures.
- Healthcare Reimbursement Models: Current reimbursement structures in healthcare favor procedures over preventive care, affecting the pay scale in primary care and pediatric specialties.
Physician Compensation by Specialty
Below is the full list of specialties and salaries shared by Doximity, though it may not include every specialty.
- Neurosurgery – $763,908
- Thoracic Surgery – $720,634
- Orthopaedic 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
- Hematology – $392,260
- Nephrology – $365,323
- Psychiatry – $332,976
- Occupational Medicine – $317,610
- Infectious Disease – $314,626
- Internal Medicine – $312,526
- Pediatric Emergency Medicine – $309,124
- Rheumatology – $305,502
- Family Medicine – $300,813
- Endocrinology – $291,481
- Geriatrics – $289,201
- Pediatric Gastroenterology – $286,307
- Preventive Medicine – $282,011
- Child Neurology – $279,790
- Pediatric Pulmonology – $276,480
- Medicine/Pediatrics – $273,472
- Pediatrics – $259,579
- Pediatric Hematology & Oncology – $251,483
- Medical Genetics – $244,517
- Pediatric Infectious Disease – $236,235
- Pediatric Rheumatology – $233,491
- Pediatric Nephrology – $227,450
- Pediatric Endocrinology – $217,875
Understanding Your Compensation
These salary figures provide an average and can vary depending on the practice, location, and individual experience.
Are you starting a new role? Ensure your compensation and employment contract terms align with your goals and needs with the help of an experienced contract attorney.
Panacea Financial Holdings partners with Panacea Legal to provide employment contract review services. Evaluate your offer, discuss compensation, and negotiate your contract to protect your interests and support your goals. Learn more here.
The information shared on this website does not constitute legal advice and does not create an attorney-client relationship.
