Becoming a doctor is a long journey, and one of the most common questions premeds ask is, “How much does a doctor make?” The answer depends on many factors, including specialty, location, years of experience, and work setting. However, we can look at the national data to understand the salary landscape and what it means for anyone considering a career in medicine.
Average Doctor Salary
Across all specialties, doctors in the United States earn strong six-figure salaries. According to the U.S. Bureau of Labor Statistics, the average annual wage for doctors is $248,640. However, certain specialties earn much more.
Highest-Paid Medical Specialties
Some fields are consistently among the top earners. According to Medscape’s Physician Compensation Report, the highest paid specialty is Orthopedics and Orthopedic Surgery at $564,000 average annual compensation. Medscapes notes that specialties with higher rates of procedures and gross billings earn more than those who see more patient consults. Additionally, higher-paid specialties usually require more training.
Top 10 Highest-Paid Medical Specialties
| Specialty | Annual Compensation |
| Orthopedics and orthopedic surgery | $564,000 |
| Plastic surgery | $544,000 |
| Radiology | $526,000 |
| Cardiology | $520,000 |
| Gastroenterology | $513,000 |
| Urology | $505,000 |
| Anesthesiology | $501,000 |
| Otolaryngology | $484,000 |
| Oncology and hematology | $472,000 |
| Dermatology | $454,000 |
Lowest-Paid Medical Specialties
At the other end of the scale, primary care fields like family medicine, internal medicine, and pediatrics earn less, but still offer solid compensation.
10 Lowest-Paid Medical Specialties
| Specialty | Annual compensation |
| Pediatrics | $265,000 |
| Public health and preventive medicine | $269,000 |
| Diabetes and endocrinology | $274,000 |
| Infectious diseases | $277,000 |
| Family medicine | $281,000 |
| Rheumatology | $284,000 |
| Internal medicine | $294,000 |
| Allergy and immunology | $319,000 |
| Neurology | $332,000 |
| Psychiatry | $341,000 |
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Factors That Influence Salary Differences for Doctors
Salary differences aren’t just about specialty. Many other factors shape how much a doctor makes:
Location
Rural and underserved areas often offer higher pay or loan-repayment incentives to attract talent. High-cost major metros may offer lower base salaries but better academic or research opportunities with access to major hospitals.
Work Setting
Salaries can vary depending on whether a doctor works in private practice, a hospital system, academia, or government service. Doctors in private practice often have higher potential earnings, but more overhead. Doctors who work in hospitals or health systems have stable salaries, benefits, and less business risk. Academia or government roles have lower pay but more predictable schedules, protected research time, or unique mission-driven work.
Experience
Like most careers, experience matters. First-year residents make about $60,000. A new attending will also earn less than a seasoned specialist with years of practice.
Call Hours and Workload
Fields with emergency coverage, frequent overnight calls, or long, unpredictable hours tend to compensate more due to intensity and burnout risk.
Length of Training
Highly paid fields like surgery or cardiology require longer residencies and fellowships, meaning delayed earnings, but often lead to higher salaries.
Gender Pay Gaps
Studies show that male physicians still earn more on average than their female counterparts, even within the same specialty.
The Bigger Picture
Although physicians earn some of the highest salaries of any profession, it’s worth remembering the trade-offs. Medical school is expensive, and most students graduate with significant debt. Training takes years, and resident salaries are modest compared to post-training income.
Work-life balance is also a factor. High-paying specialties often involve long hours and high stress. Some doctors prefer lower-paying fields that offer more predictable schedules or a better quality of life.
Final Thoughts
If you’re on the pre-med path, knowing how much does a doctor make shouldn’t be your only motivator. However, it’s a practical part of the equation. Medicine offers financial stability and the opportunity to make a meaningful impact. When it comes time to choose a specialty, think about what kind of work you enjoy, how much training you’re willing to undertake, and the lifestyle you want to maintain.
A doctor’s salary can vary, but what matters most is finding the right fit for you. The medical profession rewards dedication, skill, and compassion and those qualities often matter more than the paycheck.
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