It’s not surprising, then, that some of the lowest-paying specialties are in the fields associated with primary care, with internal medicine ($264,00), family medicine ($255,000) and pediatrics ($244,000) being listed among the bottom six specialties in annual compensation.Ĭonsult FREIDA's Specialty Guide for highlights on specialties, Match data and career statistics. The report found that physicians working in primary care fields earn an average of $260,000, while specialists make $368,000 on average. Related Coverage It matters how your practice is paid. According to a 2022 online survey of more than 13,000 physicians across 29 specialties by Medscape, the highest-paying medical specialties are: Surgical specialties typically pay more. The highest-paying medical specialties are generally procedure-based. Learn some key budgeting techniques for resident physicians. So, in a given training institution, all residents who are in their third year of training typically get the same salary, and all in their sixth year are paid the same as well. Resident salaries are determined by an institution and correlate with training year rather than specialty.
The average first-year resident physician makes about $60,000, and there’s not much wiggle room. It takes years to realize your earning potential. As a physician, you will not maximize your earnings until the completion of your graduate medical education. Those medical student-loan debt figures may inspire some trainees to factor earning potential into their career plans.įor medical students looking to understand the role compensation may play in a career path, here are a few things to keep in mind. According to data from the Association of American Medical Colleges, the typical medical student graduates with about $200,000 in medical education debt.
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