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Physician Income
Earnings of physicians and surgeons are among the highest of
any occupation. The Medical Group Management Association’s Physician
Compensation and Production Survey, reports that median total compensation
for physicians in 2005 varied by specialty, as shown in table 2. Total
compensation for physicians reflects the amount reported as direct
compensation for tax purposes, plus all voluntary salary reductions. Salary,
bonus and incentive payments, research stipends, honoraria, and distribution
of profits were included in total compensation.
Table 2. Median compensation for
physicians, 2005.
| Specialty |
Less than two years in specialty |
Over one year in specialty |
|
Anesthesiology |
$259,948 |
$321,686 |
|
Surgery: General |
228,839 |
282,504 |
|
Obstetrics/gynecology: General |
203,270 |
247,348 |
|
Psychiatry: General |
173,922 |
180,000 |
|
Internal medicine: General |
141,912 |
166,420 |
|
Pediatrics: General |
132,953 |
161,331 |
|
Family practice (without obstetrics) |
137,119 |
156,010 |
|
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Self-employed physicians—those who own or are part owners of their
medical practice—generally have higher median incomes than salaried
physicians. Earnings vary according to number of years in practice,
geographic region, hours worked, skill, personality, and professional
reputation. Self-employed physicians and surgeons must provide for their own
health insurance and retirement..
Source: Bureau of Labor
Statistics, U.S. Department of Labor, Occupational Outlook
Handbook, 2008-09 Edition
Physician Employment
Physician Training
Physician Job Outlook
Physician Income
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