Millennial physician pay rose to $364,000 on average in 2025, up from $354,000 the prior year, driven largely by gains among specialists, whose average compensation climbed from $380,000 to $392,000, while primary care physician pay held flat at $279,000, according to Medscape’s Millennial Physician Compensation Report.
The report surveyed 5,916 full-time U.S. physicians across 29 specialties between September and December 2025.
Here’s a breakdown of millennial physician pay changes by specialty:
Allergy and immunology
Pay increased: 51%
Pay remained the same: 37%
Pay decreased: 11%
Anesthesiology
Pay increased: 58%
Pay remained the same: 32%
Pay decreased: 10%
Cardiology
Pay increased: 54%
Pay remained the same: 33%
Pay decreased: 13%
Critical care
Pay increased: 54%
Pay remained the same: 37%
Pay decreased: 9%
Dermatology
Pay increased: 60%
Pay remained the same: 32%
Pay decreased: 8%
Diabetes and endocrinology
Pay increased: 61%
Pay remained the same: 30%
Pay decreased: 9%
Emergency medicine
Pay increased: 58%
Pay remained the same: 31%
Pay decreased: 11%
Family medicine
Pay increased: 59%
Pay remained the same: 27%
Pay decreased: 14%
Infectious diseases
Pay increased: 52%
Pay remained the same: 44%
Pay decreased: 4%
Internal medicine
Pay increased: 50%
Pay remained the same: 44%
Pay decreased: 6%
Nephrology
Pay increased: 60%
Pay remained the same: 30%
Pay decreased: 10%
Neurology
Pay increased: 44%
Pay remained the same: 48%
Pay decreased: 8%
OB-GYN
Pay increased: 51%
Pay remained the same: 28%
Pay decreased: 21%
Orthopedics
Pay increased: 48%
Pay remained the same: 37%
Pay decreased: 16%
Ophthalmology
Pay increased: 59%
Pay remained the same: 31%
Pay decreased: 11%
Oncology
Pay increased: 66%
Pay remained the same: 34%
Pay decreased: 0%
Otolaryngology
Pay increased: 57%
Pay remained the same: 31%
Pay decreased: 13%
Pediatrics
Pay increased: 43%
Pay remained the same: 41%
Pay decreased: 16%
Physical medicine and rehabilitation
Pay increased: 45%
Pay remained the same: 48%
Pay decreased: 7%
Plastic surgery
Pay increased: 71%
Pay remained the same: 22%
Pay decreased: 7%
Psychiatry
Pay increased: 60%
Pay remained the same: 25%
Pay decreased: 15%
Pulmonary medicine
Pay increased: 57%
Pay remained the same: 28%
Pay decreased: 15%
Radiology
Pay increased: 58%
Pay remained the same: 33%
Pay decreased: 9%
Rheumatology
Pay increased: 56%
Pay remained the same: 37%
Pay decreased: 7%
General surgery
Pay increased: 55%
Pay remained the same: 27%
Pay decreased: 17%
Urology
Pay increased: 42%
Pay remained the same: 35%
Pay decreased: 23%
Other
Pay increased: 48%
Pay remained the same: 37%
Pay decreased: 15%
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