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8 statistics on physician salaries — $299k average annual salary

Medscape released its 2018 Physician Compensation Report examining compensation throughout the industry.

Medscape spoke to 20,000-plus physicians across 29 specialties for the report.

Here are 8 insights.

1. Primary care and specialty physicians had an average salary of $299,000.

2. Primary care physicians earned a pay raise in 2018. Last year, primary care physicians earned $217,000, while this year they will earn $223,000.

3. Specialty physicians also received a pay raise. They made $319,000 in 2017 and will make $329,000 in 2018.

4. Over the past seven years, physician salaries have increased steadily.

5. U.S.-trained physicians are no longer the top money earners amongst their peers. Canadian physicians have surpassed U.S.-trained physicians in terms of future earnings. Canadian-trained physicians earned $324,000 while U.S.-trained physicians earned $303,000 in 2017. However, both U.S.-and Canadian-trained physicians outearned their colleagues from the rest of the world.

6. White physicians continue to outearn their ethnic counterparts. White physicians earned $308,000, Asian physicians earned $293,000, Hispanic/Latino physicians earned $278,000 and African American physicians earned $258,000.

7. Concerning ethnicities, every ethnicity was well represented in the ranks of specialty medicine, but white physicians made up the majority of all specialists, while African American physicians make up the majority of all primary care physicians.

8. Geographically speaking, physicians in the North Central and Southeastern U.S. regions have the greatest earning potential, while physicians in the Southwest and Northeastern U.S. regions have the lowest earning potential.

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