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According to the 2022 Medscape Physician Compensation Report, physicians on average earn $339K annually. Primary care physicians earn $260K annually while specialists earned $368K annually. [6] The table below details the average range of salaries for physicians in the US of medical specialties: [6] [7]
The salary distribution is right-skewed, therefore more than 50% of people earn less than the average net salary. These figures have been shrunk after the application of the income tax . In certain countries, actual incomes may exceed those listed in the table due to the existence of grey economies .
Physician salaries in the United States comprise 8.6% of total national healthcare spending. [8] On average, physicians in the US work 55 hours each week. [11] 25% of physicians work more than 60 hours per week. [12]
This would roughly put the national average salary at about $56,420. National Average US Salary: Key Points Approximately 35% of U.S. households make over $100,000 per year, as reported by IBISWorld.
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Let’s take a closer look at the average salary by education level to see what dividends education pays.
Average wage in the United States was $69,392 in 2020. [1] Median income per person in the U.S. was $42,800 in 2019. [2] The average is higher than the median because there are a small number of individuals with very high earnings, and a large number of individuals with relatively low earnings. (See Income inequality in the United States.)
In 2012, the gross average salary for doctors in Canada was CDN$328,000. Out of the gross amount, doctors pay for taxes, rent, staff salaries and equipment. [90] In Canada, less than half of doctors are specialists whereas more than 70% of doctors are specialists in the U.S. [91] Canada has fewer doctors per capita than the United States.
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