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Discussion in 'Clinical Rotations' started by smokinjoe, Dec 2, 2001.
How much money can a anesthesiologist make? How much difference does partnership make in income?
Anesthesiology All physicians-$255,651 average, Starting Average-$177,600, East Av-$216,270, West Av-$254,505, South Av-$257,200, North Av-270,000
Remember data represents the average. It does not take in factors in your particular area of practice such as single specialty private practice vs multispecialty vs hospital employee. You must also take into account how much managed care penetration is in your area and how much medicaid/medicare you do. Also, different subspecialties of anesthesia probably make different amounts on average, such as cardiothoracic, pain medicine, etc.
This as per 2001 AMGA survey. There are other surveys, but I believe this has a large enough sample size and is based upon 2000 data. The 2002 survey should be out next year and will more accurately reflect the trend for 2001 (this year). If you want to make more you could probably move to the north (south dakota) in the more rural, less managed care area and make significantly more than the average, but you and your family have to be willing to live there.
There are other surveys on the web, just search for them. Some long standing recruiters have data on the web as well.
<a href="http://www.gaswork.com" target="_blank">www.gaswork.com</a>
big list of jobs
does anybody know if anesthesiologist's salaries have gone up or down over the past 15 years-where could you find such information?
According to a compensation report from 1995-1999 from a consulting firm Turner White, anesthesiology compensation has increased 1.7%. However, things I am hearing through the grapevine is that there may be a greater increase in 2000-2001 as the starting salaries and partnership salaries are edging upwards at a greater than 5% clip. Of course, this is heresay.
i'm currently interviewing for anaesthesia and have some first hand info on salaries from the top guys in the field about salaries. As of right know the job market of anaesthsiologists is red hot. So hot that virtually every place i've interviewed at has said that in the current climate they are having a terrible time holding on to faculty (and i'm talking at the most prestigious institutions in the country ,ie MGH, Penn, vanderbilt etc) as their leaving for the ridiculous salaries that await them in private practice. As a matter of fact things are so good right know that virtually nobody is doing a fellowship. those salaries that you guys are mentioning of 170k to start and 250k overall avg is very outdated. In today's market starting salaries are 210k + a 25k signing bonus (and this isn't just some rumor bs, these are the offers i saw in writing that the graduating residents in the midwest are getting right know). Furthermore the avg salary of people in private practice for 3 years is 350k (2 different guys that were previously in private practice but know are in academic medicine told me that virtually everybody they knew in private practice was making over 300k with partnership offered after 1 or 2 years, and that after your a partner salaries of 400 to 500k were very common. Furthermore if you go to underserve areas you'll start off at 270 to 300k (once again i residents receiving such offers in the boonies ie backwater areas of texas, places in mississippi) and after 3 years you will be making around 450k to 600K if choose to live in such areas. The reason salaries have gotten so high is for about 10 years virtually no body was going into anaesthsia and many programs started cutting down the number of spots. All of this has contributed to a severe shortage that will be around for the next 10 years. Many programs are now realizing this and have started to increase the number of slots offered because of this and the increased interest from us grads. This year the university programs will for sure fill with us grads only and probably 5 ti 10 percent of the community program slots will be fmg. Most directors feel that by next year anaesthesia will be fully consisting of AMG. Surgery will probably be 1/2 Fmgs next year. Optho this year will have fmg's for the first time ever and next year many people said about 20 % of the optho slots will be filled by fmgs. Radiology and ER will continue to be popular choices as will Ortho and derm (these 2 more because of the limeted number of slots than because of their mass appeal). OB, IM, FM will always have a considerable number of Fmgs mostly because the huge number of slots available in these specialties. anyways i hope this helped.
What up DOGGFATHER,
Hey man what's up. I agree with your statements, and would even say that private practice salaries if you go to some of the ivy league programs are even higher. Who knows if this will be the case in four to five years when we come out, but I'm sure it'll be comparable (it'll take some time for all the open spots to get filled). Now, two points of disagreement (which I know you don't mind).
First, I think that the number of anesthesiology spots are actually going to be set lower. They don't want overcrowding as has happened before. Most program directors at top programs I talked to aren't planning to increase their numbers anytime soon. So that sounds like a very fortuitous event.
Secondly, I don't know if I agree with your optho assessment. From what I've heard from friends going into it; the competition is still pretty stiff. It's not derm or orhto, but it's not easy to match. So, I don't know who has misinformation, but some one somewhere does. I'm curious to see which way it really plays out. Anyway, I'm coming to MI my brother, this weekend. So if you out, we should party. By the way, and concrete evidence on opthamology. Call it curiousity, but that seems like a fascinating trend you are predicting.
While I agree that it is a good time job-market wise to be graduating anesthesia, I found some of the salary numbers you floated a little on the high side. Reimbursement is down across the board for everyone & I find it hard to believe that there are very many making 400-500K any more. My friends who have finished in the last two years have started around 200-215K with the partners making closer to 300K (this at the 6th busiest heart/lung hospital in the country)
droliver although i respect your information i would like to tell you that the info i got is straight from the grapevine. ie program directors, department chairs, and residents who will be graduating and are receiving job offers right know. 350k is not the exception but rather the rule right know(i base this after asking people from a very broad spectrum, and combing through varous positions offered in various journals.) I suppose if your friends are three years out and are making under 300k they could be in academic practice (there's at times over a 100k difference in private practice and academic salaries and this is part of the reason many academic instititutions are having such a hard time holding on to faculty) or they could be living in city that is very attractive to live in and in which competition is more intense than the average (although i'll be honest with you , I don't believe that the market is this tight in any site right know, although i suppose it's a possibility). three it could be that your friends are just bull****ting with you as you know nobody likes to talk about money (ie they give you all of this other stuff about how they care, satisfaction, and you shouldn't worry about money and just do what you like, you know typical bs not realizing that your the one in med school who didn't have a silver spoon put in your mouth through your whole life and actually are in 150k debt, making salary of utmost importance when choosing a career). Anyways after having said all of this it could be me whose information is way off although i think this to be unlikely since i consider my sources to be very accurate and different sources all concurred. ie the people in new england were virtually saying the exact same thing as the people in michigan and etc... in terms of numbers.
salaries in florida are starting at the 200 range and seem to hint at 300 with partnership.
In talking to one of the attendings who does practive management for private groups everywhere, the best offers are not even the ones with advertised salaries (these partnerships usually keep salary information very tight to the vest). The choice partnerships in Florida you can make 600-700 as a partner (I know of partnerships in michigan that make more than that, even one here in california. It's all dependant on patient population, how effective your billing is, and most importantly whether you're practice is large enough to have a business manager available). Anyway, I wouldn't worry about salaries. I can tell you from firsthand experience, the money you make is irrelevant if you don't love what you do. I have made three times what I will make during my entire residency in the last two years, and that's if I don't sell my company. But I wasn't happy, and that in the end is the most important thing. Pick the field of medicine you want because it makes you happy, because a miserable job equates to a miserable life no matter how much money you make.
I work at a hospital in Kansas where the starting for anesthesiologists is around 300/year.