- Joined
- Jun 7, 2007
- Messages
- 282
- Reaction score
- 3
I hope that it is enough to support my family and pay off my loans and still have some fun money.
Anything above that would be awesome.
Anything above that would be awesome.
how much income per year do you expect to earn as a new dentist?
- Thread starter AceDentist
- Start date
Well, these are the latest numbers from Levin Group/DE survey (see below). I actually met with Mr. Levin himself in one of his CE courses last week, and couldn't resist asking him how he came up with the current numbers. He said his company surveyed 3,000 offices back in July, and they weren't published until December in DE magazine. Before they published the data (which is like a bell-curve), they had to cut-off the top and bottom 5%, and then average the remaining 90%. They did this to eliminate the outliers, hoping the numbers to better represent what GP's were making at that time (summer of 2008). His company surveyed another 1,000 offices just recently, when the economy got hit really bad last fall. He said the new numbers will not be as high as those shown below. He told me to expect a big drop, I will post them when DE publishes them in April.
2007 Practice survey done by Levin Group and Dental Economics. Released in Dental Economics Nov. 2007 Issue:
General Practice
Average Salary Owner Doctor 204,500
Average Salary Associate 105,000
Average Salary Owner Doctor Large City 220,000
Average Salary Associate Large City 120,000
Average Salary Owner Doctor Small Town 174,000
Average Salary Associate Small Town 121,000
Quite an increase from 2007 to 2008. I think cutting out the bottom 5% removes a lot more poor earners, thereby upping the average, than does cutting out the top 5% removes high earners.
- Joined
- Feb 15, 2003
- Messages
- 8,393
- Reaction score
- 37
One hundred BILLION dollars.
- Joined
- Dec 6, 2005
- Messages
- 3,068
- Reaction score
- 3,248
- Joined
- Dec 6, 2005
- Messages
- 3,068
- Reaction score
- 3,248
Well, ADA was reporting about $200k average for a GP private practice owner in their 2005 survey. I have a feeling a lot of the dentists who participate in these surveys don't actually report their actual take homes, people are not always comfortable sharing their numbers, specially the whole higher tax bracket paranoia with uncle sam. If you own your own private practice, you could pay yourself as an employee (reasonably). However, your business could actually be paying you lot more (i.e. your new bmw is under your company, your trips to Bali and Sao Paulo are no exactly coming out of your pocket if you file it as a business trip, etc).
I think the real average is about $300k for a GP owner, and I still think that's a bit on the conservative side.
- Joined
- Oct 14, 2006
- Messages
- 1,669
- Reaction score
- 15
I think the real average is about $300k for a GP owner, and I still think that's a bit on the conservative side.
You, sir, are ******ed.
- Joined
- Dec 6, 2005
- Messages
- 3,068
- Reaction score
- 3,248
Dude, why you hatin'? I am just going by published statistics
Why don't you do the math... average overhead for a GP is about 60%. I guess the ADA is wrong, and you are right?
- Joined
- Oct 14, 2006
- Messages
- 1,669
- Reaction score
- 15
Dude, why you hatin'? I am just going by published statistics
Why don't you do the math... average overhead for a GP is about 60%. I guess the ADA is wrong, and you are right?
No, I guess the ADA's wrong and you're right. Where in the statistics of 140-210k or so did you get the "conservative" stat of 300k (or probably greater)?
- Joined
- Dec 6, 2005
- Messages
- 3,068
- Reaction score
- 3,248
We are in 2009, not in 2005. It has been 4 years. Based on the trend, the graph would show a further increase in gross billings. In 2005, if GP gross billing was $660k ($260k after the overhead), then by now the take home would be higher (or about $300k), with the exception of consumer economic worries, which probably slowed things down.
Surveys never give a complete picture, they underestimate at best.
