A career in medicine requires extensive schooling, but a doctor’s salary helps offset the financial commitment.
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Matthew Arrojas is a news reporter at BestColleges covering higher education issues and policy. He previously worked as the hospitality and tourism news reporter at the South Florida Business Journal. He also covered higher education policy issues as...
Updated on August 12, 2024
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Senior Editor, Health Education
Scott Harris has worked as a writer and editor for nearly 25 years, including more than 15 years covering healthcare and higher education. As a senior editor with Red Ventures, Scott currently edits the "News & Advice" section of NurseJournal.org and...
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Contributing Fact-checker
Marley Rose has been a writer, editor, and fact-checker for more than a decade, producing various publications in the fields of education, health, and technology. With a background in publications and communications, she has a deep appreciation for l...
By
Reporter
Matthew Arrojas is a news reporter at BestColleges covering higher education issues and policy. He previously worked as the hospitality and tourism news reporter at the South Florida Business Journal. He also covered higher education policy issues as...
Edited by
Senior Editor, Health Education
Scott Harris has worked as a writer and editor for nearly 25 years, including more than 15 years covering healthcare and higher education. As a senior editor with Red Ventures, Scott currently edits the "News & Advice" section of NurseJournal.org and...
•
Reviewed by
Contributing Fact-checker
Marley Rose has been a writer, editor, and fact-checker for more than a decade, producing various publications in the fields of education, health, and technology. With a background in publications and communications, she has a deep appreciation for l...
Updated on August 12, 2024
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Jobs in health care fields offer a unique blend of challenges and rewards. A medical school degree is certainly no exception. Within the healthcare field, jobs that require medical school degrees tend to be the most lucrative.
Physicians regularly earn salaries well into the six figures. The high earning potential can help balance the high debt loads for medical school — which can exceed $200,000. Still, the high earning potential is a major attraction for medical jobs, alongside helping patients and advancing the field.
Surgeons have some of the highest salaries of all medical professions. Nevertheless, lower-paying specialties, like pediatrics, still command salaries of $200,000 or more.
Here, we dig into some of the most lucrative professions and specialties that require a medical school degree. Eligible professions include jobs that require graduation from a medical school and passage of the United States Medical Licensing Exam (USMLE), the board exam to become a licensed physician.
What Are the Highest-Paying Jobs in the Medical Field?
- Neurosurgery: $763,908
- Thoracic surgery: $720,634
- Orthopedic surgery: $654,815
- Plastic surgery: $619,812
- Oral & Maxillofacial Surgery: $603,623
Source: 2024 Physician Compensation Report, by Doximity and Curative
Ready to Start Your Medical Career?
If you want a high-paying medical career, these programs will set you up for success.
15 Highest-Paying Medical Jobs
Explore the salaries, duties, and job requirements for the 15 highest-paying medical jobs in 2023, including surgeons, radiologists, and anesthesiologists.
Neurosurgery
- Average Salary: $763,908
- Required Education: Bachelor's degree, medical doctor degree with a surgical specialization, residency
- Licenses/Certifications: USMLE
Neurosurgeons diagnose and treat conditions that affect the nervous system, including conditions affecting the brain, spinal cord, and nerves. While their job functions include surgery, they also provide nonoperative treatments.
Thoracic Surgery/Cardiothoracic Surgeon
- Average Salary: $720,634
- Required Education: Bachelor's degree, medical doctor degree with a surgical specialization, residency
- Licenses/Certifications: USMLE
Thoracic surgeons, sometimes known as cardiothoracic surgeons, treat conditions affecting a patient's thorax or chest region. That includes conditions affecting the heart, lungs, ribs, and esophagus. A coronary artery bypass is a common surgery a thoracic surgeon may perform.
Orthopedic Surgery
- Average Salary: $654,815
- Required Education: Bachelor's degree, medical doctor degree with a surgical specialization, residency
- Licenses/Certifications: USMLE
Orthopedic surgeons specialize in diagnosing and treating issues of the bones, joints, ligaments, tendons, and muscles. Orthopedists often perform surgeries but may also diagnose and treat issues using nonoperative techniques.
Plastic Surgery
- Average Salary: $619,812
- Required Education: Bachelor's degree, medical doctor degree with a surgical specialization, residency
- Licenses/Certifications: USMLE
Plastic surgeons specialize in surgically repairing or enhancing the body. They often improve the quality of life of people with severe injuries or congenital abnormalities. Plastic surgeons may also perform procedures to change a person’s physical features for aesthetic reasons.
Oral & Maxillofacial Surgery
- Average Salary: $603,623
- Required Education: Bachelor's degree, DMD or DDS degree, residency
- Licenses/Certifications: USMLE, required state licenses
Vascular surgeons diagnose and treat conditions and diseases related to the blood vessels, including the veins and arteries. Vascular surgeons do not operate on the heart and brain. These surgeons often treat blocked arteries or any condition that disrupts blood flow.
Radiation Oncology
- Average Salary: $569,170
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE, American Board of Radiology examinations
Radiation oncologists oversee radiation therapy treatments. They work with the radiation therapy team to develop treatment plans. They also treat side effects that may accompany radiation therapy. Radiation oncologists also work closely with other oncologists.
Cardiology
- Average Salary: $565,485
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE
Cardiologists specialize in treating heart and blood vessel problems without surgery or with minimally invasive procedures. They diagnose and treat common conditions, including high blood pressure, low blood sugar, and heart disease. They also work with heart attack and cardiac arrest patients, among others.
Vascular Surgery
- Average Salary: $556,070
- Required Education: Bachelor's degree, medical doctor degree with a surgical specialization, residency
- Licenses/Certifications: USMLE, Vascular Surgery Certifying Examination
Vascular surgeons diagnose and treat conditions and diseases related to the blood vessels, including the veins and arteries. Vascular surgeons do not operate on the heart and brain. These surgeons often treat blocked arteries or any condition that disrupts blood flow.
Radiology
- Average Salary: $531,983
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE
Radiologists diagnose and treat conditions using imaging equipment. The most well-known radiology procedures are CT scans, ultrasounds, X-rays, mammograms, and MRI exams.
Urology
- Average Salary: $529,140
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE, American Board of Urology examinations
Urologists diagnose and treat diseases and conditions of the urinary system and male reproductive organs, including the bladder, kidneys, and urethra. Urologists commonly treat conditions like urinary tract infections, kidney stones, and blood in a patient’s urine. They also help treat bladder, kidney, and prostate cancers.
Gastroenterology
- Average Salary: $514,208
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE
Gastroenterologists specialize in gastrointestinal diseases. They diagnose and treat all organs in a patient’s digestive system, including the stomach, intestines, liver, pancreas, and gallbladder. Common conditions they treat include appendicitis, pancreatitis, irritable bowel syndrome, stomach ulcers, and liver diseases.
Otolaryngology
- Average Salary: $502,543
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE, American Board of Otolaryngology examinations
Otolaryngologists are commonly referred to as ear, nose, and throat doctors or ENTs. They diagnose and treat chronic throat or ear infections, sleep apnea, severe allergies, and vertigo. Some ENTs perform surgeries.
Anesthesiology
- Average Salary: $494,522
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE
Anesthesiologists administer anesthesia and help care for patients before, during, and after surgery. They conduct pre-surgery assessments and create an anesthesia plan for the surgery. This plan often includes general or local anesthesia and pain management after surgery.
Dermatology
- Average Salary: $493,659
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE
Dermatologists specialize in diagnosing and treating conditions related to the skin, hair, and nails. They commonly treat acne, skin cancer, rashes, and eczema. Dermatologists also treat cosmetic conditions, including hair loss.
Oncology
- Average Salary: $479,754
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE, required state licenses
General surgeons perform various surgeries on patients. While specialist surgeons may focus on one area of the body, a general surgeon must have knowledge of the entire body and a mastery of the surgical process.
Ophthalmology
- Average Salary: $468,581
- Required Education: Bachelor's degree, medical doctor degree, residency
- Licenses/Certifications: USMLE
Ophthalmologists specialize in diagnosing and treating conditions related to a patient’s eyes. They treat eye diseases and often perform surgery. They also prescribe eyeglasses and contact lenses to correct someone’s vision.
Where Do Physicians Make the Most Money?
A physician's pay varies slightly based on the state they work in.
States along the East Coast and bordering the Great Lakes pay physicians some of the highest average salaries in the U.S.
In other states, physicians may make slightly less per year. But, the difference isn’t substantial. The most significant factor that impacts pay is often the physician's specialty or profession.
Gender Pay Gap in Medical Jobs
The healthcare field isn’t immune to pay disparity between men and women.
Doximity and Curative's 2024 Physician Compensation Report found a 23% gender pay gap between men and women in 2023. While that was down slightly from the 26% gap in 2022, it's still a significant difference.
Medscape's 2024 Physician Compensation Report found a 29% difference in pay between men and women.
The Doximity report added that between 2014-2019, men physicians made over $2 million more than women physicians on average over the course of their careers; women earned nearly less than $102,000 on average than their male peers
| Specialty | Average Salary, Men | Average Salary, Women | Percentage Difference |
|---|---|---|---|
| Orthopedic Surgery | $661,801 | $559,222 | 16.8% |
| Gastroenterology | $525,931 | $444,511 | 16.8% |
| Colon & Rectal Surgery | $468,984 | $398,802 | 16.2% |
| Pediatric Gasteroenterology | $301,556 | $258,098 | 15.5% |
| Opthalmology | $484,409 | $417,212 | 14.9% |
Some specialties have more equitable pay. However, there are no medical specialties where women earned the same or more than men, on average, according to Doximity and Curative's report.
| Specialty | Average Salary, Men | Average Salary, Women | Percentage Difference |
|---|---|---|---|
| Medical Genetics | $249,039 | $240,210 | 3.6% |
| Hematology | $398,113 | $380,847 | 4.4% |
| Pediatric Infectious Disease | $246,455 | $226,016 | 8.7% |
| Internal Medicine | $319,847 | $291,422 | 9.3% |
| Oncology | $491,439 | $447,038 | 9.5% |
Medical Jobs With the Most Compensation Growth
Salaries as a whole decreased or stayed flat for physicians in 2022, according to Doximity and Curative. The situation improved in 2023 since many specialties reported positive growth.
| Specialty | Compensation Growth | 2023 Average Salary |
|---|---|---|
| Hematology | 12.4% | $392,260 |
| Family Medicine | 10.2% | $300,813 |
| Infectious Disease | 9.0% | $314,626 |
| Plastic Surgery | 8.5% | $619,812 |
| Occupational Medicine | 8.5% | $317,610 |
| Oral & Maxillofacial Surgery | 8.4% | $603,623 |
| Nephrology | 7.7% | $365,323 |
| Pediatric Emergency Medicine | 7.5% | $479,754 |
| Psychiatry | 7.2% | $332,976 |
Frequently Asked Questions About Highest-Paying Medical Jobs
How long does it take to become a medical doctor?
It takes about 11-15 years to become a licensed physician. Medical school usually lasts four years, and a residency requires 3-5 years after that.
What are the highest-paying medical jobs?
Surgeons, especially those specializing in brain or heart surgery, are the highest-paid physicians, on average.
Eight of the 20 highest-paying medical jobs were surgeons, according to a 2024 Doximity and Curative report. Surgeons also made up the top five highest-paid physician jobs, with neurosurgeons leading the way with an average salary of $763,908 per year.
How are doctors paid?
There are two primary models physicians use for pay: a fee-for-service model or a value-based care model.
The fee-for-service model is the most common and reimburses physicians for the services and procedures they provide. This model typically involves charging a given price, with insurance companies compensating physicians and practices accordingly for the service. Patients make up the difference or pay the bill entirely if uninsured.
Value-based care rewards physicians and their practices based on the quality and effectiveness of care they provide, along with the overall health of their patient population based on a set of metrics. This model places a larger focus on preventive care and cost-effectiveness.
How much do primary care physicians make?
Primary care physicians earn an average salary of about $175,000-$225,000, depending on their specialty, according to the Bureau of Labor Statistics. These providers generally don’t make as much as other specialists. General internal medicine physicians earn slightly more than family medicine positions. General pediatricians earn less than either primary care specialty.
