What are the highest and lowest paid specialties and do they feel they're fairly compensated?
Doctors still make quite a good living these days, although almost half feel underpaid. That feeling depends on the specialty though according to Medscape Compensation Report 2016. Medscape surveyed nearly 20,000 physicians across 26 specialties in their annual report. Here’s what they found:
Doctors’ average earnings ranged from $204,000 to $443,000.
The highest paid specialties were:
Orthopedics - $443,000 Cardiology - $410,000 Dermatology - $381,000 Gastroenterology - $380,000 Radiology - $375,000 Urology - $367,000
The lowest paid specialties were:
Pediatrics - $204,000 Endocrinology - $206,000 Family Medicine - $207,000 Infectious Disease - $215,000 Allergy - $222,000 Internal Medicine - $220,000
The physicians who felt the most fairly compensated were in these fields:
Dermatology - 66% Pathology - 63% Emergency Medicine - 60% Psychiatry - 58% Radiology - 58%
The physicians who felt the least fairly compensated were in these fields:
Urology - 42% Allergy - 43% Endocrinology - 43% Orthopedics/Ophthalmology/Nephrology/Rheumatology - 44%
However, what can we take away from this?
It pays to specialize in certain fields, but that doesn’t guarantee you won’t feel underpaid.