What Is The Average Salary Of U.S. Doctors In 2024?

Salary of U.S. Doctors

Doctors are highly respected and educated professionals. They are well paid for their work. The salary of doctors depends on various factors from location, medical specialty and experience. It is also stagnated through problems like overworking, extreme burnout and staff shortages. 

According to the Medscape Physician Compensation Report, the salary of U.S. doctors is again averagely rising. Also, the difference between the high and low paid salary is on average around $81,000 (around INR 6 million). While the salaries are upward the increment is generally based on factors like geographic location, gender, specialization, etc. 

The Bureau of Labor Statistics shows that out of the 20 top highest paying occupations, 19 belonged to the healthcare department. This reflects that in the U.S. doctors profession has great potential for earning. Still, there can be factors that can affect the compensation of the doctors. For example, the Covid pandemic affected the healthcare sector worldwide. 

Average Salary of a Doctor in the U.S.

According to Glassdoor, the average salary of a medical doctor in the U.S. is $1,65,347 (around INR 13 million) per year. The highest average annual wage was $208,000 (Around INR 17 million) which went up from the lowest of $126,470 (Around INR 10 million). Their salaries include base salaries, housing facilities and transportation benefits annually. 

Salary of US Medical Professionals for Different Job Types

The highest paid specialization is plastic surgery, cardiology or orthopedic surgery and also scores high in the compensation satisfaction index.  

Let us see the top 10 specializations and their annual average salaries.

Salary of U.S. Doctors: US vs Rest of the World

The U.S. currently has approximately 50,000 doctors employed temporarily. The numbers are rising. More than 50% of the physician workforce in the US operates as employees either for hospitals or medical groups. They enjoy permanent position assurance and regular and stable paychecks. However, self-employed individuals earn more on average in the US. 

According to the Medscape report, high-earning doctors enjoy notably greater salaries than practitioners in five-plus countries. U.S. physicians beat all the countries studied with male doctors nearly making 75% more than female doctors. The gender gap is observed on a large scale as female fellow doctors receive less compensation than male doctors outside the U.S. In fact, in Spain, female doctors get compensated half compared to male doctors. 

On average, U.S. doctors make more than their fellow global doctors in the UK, France, Germany, Spain, Brazil, Italy and India. For standardization, the comparison is solely adjusted for each wage to USD and does not consider the benefits or living expenses in different countries. 

How to Pay for Medical School

While studying medicine is an expense, one must still pursue the dream of becoming a doctor. If you wish to study in a medical school in the U.S., you might start gathering funds to complete your doctorate education abroad. Many banking and non-banking institutes provide study loans for students who are ambitious to pursue their medical education overseas. You can also apply for scholarships, fellowships, assistantship positions for medical school and grants

Now, you have got an idea that a doctor’s job profile and salary in the U.S. is quite a big deal. Before making a decision consult an expert and understand your chances and then decide on it. 

Bottom Line

As you can see, doctors in the U.S. are highly paid for their services. If a student wishes to pursue a career in the medical field make sure you do a proper search as it is expensive to study abroad, don’t let your financial problems spoil your dreams.

Students can get study loans from banking and non-banking institutes, scholarships and grants. All they are required to do to get admitted to medical school in the U.S. is to complete a four-year pre-med undergraduate degree. The minimum GPA is around 3.5 to be accepted in most medical schools in the U.S.