Physicians like their jobs more than the earnings
Physicians may love to take care of patients, but they aren’t as thrilled with their income, according to a recent survey.
The survey, which was conducted by recruiting company PracticeMatch, asked physicians who represented a geographically diverse group and a combination of hospital and office practice settings about their job satisfaction and income levels.
More than half of the 1,218 respondents reported being “very” or “extremely” satisfied with their current position. However, average annual income for physicians remained relatively flat from 2016 to 2017, according the survey. Just 31 percent of respondents were either extremely of very satisfied with their income, according to the survey.
“Compensation is always a key driving factor for physicians when deciding on a practice opportunity,” PracticeMatch CEO Mike York said in a statement. “Therefore, it’s vital for employers to offer an attractive physician compensation package in today’s highly competitive physician recruiting environment.
Women made up 35 percent of the survey and had slightly lower satisfaction rates than men.
Income growth
Some physician specialties saw their income levels rise from 2016 to 2017 faster than others, and only 37 percent reported earning more in 2017 compared to the previous year. A quarter of participants received a signing bonus of an average of $15,000 when they took their current job.
- Emergency medicine growing 5 percent to an average of $321,398.
- Pulmonary medicine rose 2 percent to $286,813.
- Pediatricians rose 2 percent to $198,306.
- Cardiology rose $2,000 year over year to $366,241.
- Family medicine rose $2,000 year over year to $211,923.
- Hospitalists rose $2,000 year over year to $265,000.
- Psychiatrists reported competitive salaries at an average of $253,820.
Among those who reported having student loans—30 percent—8 percent received assistance, according to the survey.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."