7 statistics on physician compensation — average sign on bonus is $18k

PracticeMatch 2017 released a new physician compensation survey, including results from 1,959 physicians reporting in June 2017.

The study covered specialties across the spectrum. Here are eight things to know:

1. Nearly 40 percent of physicians report their compensation was the same in 2016 as it was in 2015; 9.1 percent said their income decreased by 8 percent or more and 11.5 percent said their income increased 8 percent or more.

2. Some physicians received a sign-on bonus for their current roles, with the average bonus being $18,137. Physician compensation plus their annual bonus by specialty includes:

• Cardiology: $364,169
• Urology: $357,398
• Emergency medicine: $306,389
• Pulmonology: $281,519
• Family medicine: $210,112
• Pediatrics: $194,915
• Endocrinology: $190,081

3. The average physician attended two medical conferences last year.

4. Around half — 45 percent — of physicians report being satisfied with their income; 9.7 percent were extremely satisfied and 20.7 percent were very satisfied. Just under 20 percent were very dissatisfied and 5.1 percent were extremely dissatisfied.

5. Twenty-nine percent of physicians reported outstanding student loan balances and 9 percent said they received student loan assistance in 2016.

6. Two-thirds of the physicians reported no contact with medical recruiters to find their current position.

7. Most physicians reported job satisfaction in 2016:

• Satisfied: 40.5 percent
• Very satisfied: 34.5 percent
• Extremely satisfied: 13.1 percent

Eleven percent reported being dissatisfied.

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