Any well-respected sources to look at salaries by specialty?

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hyrule

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I'm not sure where to look.

I keep getting wildly different numbers based on where I look. One source said avg. Radiology was: >$400,000 (a little ridiculous) and another said $250,000
:S
 
What does it matter now anyways? By the time you are out of school and practicing, salaries will have changed considerably given the new heath care reform bill that's being passed. No one can predict anything for sure, but I think we all know we are going to get paid less in the coming years. 😡
 
Agree with above. Unless you are currently looking for employment, the exact numbers don't mean that much.

You can look at any list and see general trends, like which specialties pay more, etc. Whether this data will hold true in 5-10 years is anybody's guess. Anyone who says they can answer that, is full of...
 
There is such a wide variation in the payscale among specialties and even within specialties depedning on the region (north, northeast, midwest, south, etc) that it's definitely possible that certain radiology position would pay $250,000 in one part of the country and $400,000 in another part of the country.

It all comes down to supply and demand. For example, you'd never imagine that a neurosurgeon in the middle of nowhere in the midwest would get paid more than one in New York City, but if you look at the salaries being offered for a neurosurgery position in those middle of nowhere counties ($950,000), you'd see that they pay almost 50% more in order to attract someone away from one of the major metroplitan medical centers in New York or Los Angeles or Boston where the average salary is about $600,000.
 
What does it matter now anyways? By the time you are out of school and practicing, salaries will have changed considerably given the new heath care reform bill that's being passed. No one can predict anything for sure, but I think we all know we are going to get paid less in the coming years. 😡

I disagree but who knows.

Winged Scapula said:
MGMA Surveys.

Is there any way a data freak such as myself can get a hold of their surveys without forking over several hundreds of dollars?
 
I disagree but who knows.

http://online.wsj.com/article/SB126123257035198659.html?mod=WSJ_hpp_LEFTTopStories

"To pay for program, the measure would cut Medicare payments to health-care providers by some $400 billion over a decade."

Not only that but, since most doctors are in the highest % of income range, they will be taxed even heavier. If you have a private practice, the govt is mandating more taxes on small business owners to pay for heathcare. Anyway you look at it, we are gonna get paid less.
 
http://online.wsj.com/article/SB126123257035198659.html?mod=WSJ_hpp_LEFTTopStories

"To pay for program, the measure would cut Medicare payments to health-care providers by some $400 billion over a decade."

Not only that but, since most doctors are in the highest % of income range, they will be taxed even heavier. If you have a private practice, the govt is mandating more taxes on small business owners to pay for heathcare. Anyway you look at it, we are gonna get paid less.


hey

first off good luck in your futures in medicine. annual incomes for docs vary wildly within a given specialty and obviously between them. I know an Oncologist who made 2.3 million in a year. I know of Oncologists making 230,000 annually as well. I know a doc who made 75,000 just out of training and that was several years ago.

keep in mind that salary as a term means you are paid a wage. the higher income earners usually own their own practices ( but not always) and are simply more entrepreneurial. my concern is that many younger docs or soon to be docs dont really grasp how much income is being diverted away from all of you towards pharma, insurance companies, and other non-physician players.

there really is nothing like running your own show, and I hope some of you will get to experience that some day. there is nothing wrong at all with an academic salaried position as well. I have many friends in that boat.

overall though, although its tough to start up a practice, my doc friends who have done that or even both paths ( employed vs owner) - the ones who own work harder, earn more money, and are more satisfied in their careers.

this is just from my observations over the years. hint - most docs make a lot more money than you think-- its just not talked about much and rarely reflected in surveys ( I belong to the MGMA FYI)
 
I find salary.com to be great

i think its fairly accurate
 
http://online.wsj.com/article/SB126123257035198659.html?mod=WSJ_hpp_LEFTTopStories

"To pay for program, the measure would cut Medicare payments to health-care providers by some $400 billion over a decade."

Not only that but, since most doctors are in the highest % of income range, they will be taxed even heavier. If you have a private practice, the govt is mandating more taxes on small business owners to pay for heathcare. Anyway you look at it, we are gonna get paid less.

This might be off topic but anyway: which country will be the next US in terms of high salary and top science universities? From what I hear the US will be in a downward spiral for quite some time.
 
No. These are not as accurate as MGMA which is well recognized and used by most hospitals and employers. Anything from an employment agency is not going to be as accurate (like Cejka Search).

Also you need to read the footnotes. The average practice covered by this survey is a practice with "272 physicians and 13 satellite locations". So basically it is a survey of huge practices, and truncates out all of the smaller practices with the practice incomes. You can basically assume that every amount on this survey is higher than reality.

I think Winged Scapula hit the nail on the head. If the data is being published by a jobsearch/employment agency, you cannot believe it. Their goal is to post something that will get you to call them to try to make a job change. They won't lure someone out of a good position with mediocre figures. So they have to post the highest amounts they can post with a straight face. And these employment search firms often use the "bait and switch" motif. They post some crazy high salary, and then when you call, that job is already taken, but they have one "almost as good" at half the salary and twice the hours. Don't get sucked in. If an employment search firm publishes a salary, you can assume this is the absolute highest salary or average they could concoct, and thus nothing you will ever see in reality. Such is the nature of this business.

As for things like Monster, you have to realize that nobody gets a physician job through this kind of site, so their access to data is poor. The best numbers you are going to get are going to be survey data published in medical periodicals. Every decade or so JAMA and other publishers publish data on work hours and salaries by various specialties, if only to show whether salaries are going up or down. That's probably the best data you are going to get. However survey data by it's nature tends to run a bit higher than reality, as people embarrassed about their lower end salary are less likely to respond to surveys about their salary as those who are proud of it. That's just human nature.
 
Radiology Salaries Inch Up Slightly

chart2_1.jpg
 
Also you need to read the footnotes. The average practice covered by this survey is a practice with "272 physicians and 13 satellite locations". So basically it is a survey of huge practices, and truncates out all of the smaller practices with the practice incomes. You can basically assume that every amount on this survey is higher than reality.

I think Winged Scapula hit the nail on the head. If the data is being published by a jobsearch/employment agency, you cannot believe it. Their goal is to post something that will get you to call them to try to make a job change. They won't lure someone out of a good position with mediocre figures. So they have to post the highest amounts they can post with a straight face. And these employment search firms often use the "bait and switch" motif. They post some crazy high salary, and then when you call, that job is already taken, but they have one "almost as good" at half the salary and twice the hours. Don't get sucked in. If an employment search firm publishes a salary, you can assume this is the absolute highest salary or average they could concoct, and thus nothing you will ever see in reality. Such is the nature of this business.

As for things like Monster, you have to realize that nobody gets a physician job through this kind of site, so their access to data is poor. The best numbers you are going to get are going to be survey data published in medical periodicals. Every decade or so JAMA and other publishers publish data on work hours and salaries by various specialties, if only to show whether salaries are going up or down. That's probably the best data you are going to get. However survey data by it's nature tends to run a bit higher than reality, as people embarrassed about their lower end salary are less likely to respond to surveys about their salary as those who are proud of it. That's just human nature.

Actually younger physicians can get taken advantage of in larger practices quite easily, often times supporting the partner/owner docs or corporations at their own expense. The higher earning docs often own practices, often small; the other scenario is when practices own their own ( fill in the blank with MRI machines, radiotherapy units, their own buildings and other investment ops)
 
Actually younger physicians can get taken advantage of in larger practices quite easily, often times supporting the partner/owner docs or corporations at their own expense. The higher earning docs often own practices, often small; the other scenario is when practices own their own ( fill in the blank with MRI machines, radiotherapy units, their own buildings and other investment ops)

Very, very true, and is the reason for the high attrition rate for MD's in their first employment.
 
No. These are not as accurate as MGMA which is well recognized and used by most hospitals and employers. Anything from an employment agency is not going to be as accurate (like Cejka Search).

Word. I was in hospital administration for 20 years before medical school, and I did a lot of work on physician compensation issues. MGMA is the only truly accurate source of compensation data that I know of - and it is neither public nor free. Compensation varies widely be location - and it also varies considerably by years in practice. Overall averages that I've seen in the public domain are useless for several reasons: 1) They're usually old. Comp data over 2 years old means almost nothing; 2) Overall averages don't mean anything when comp varies so widely by location and years-in-practice; 3) To some degree, your salary will depend also on who you are. Look at the ads - you might see 2 hospitalist positions in the same community - one with a guarantee of $250K including bonuses, one that only offers a straight salary of $150K. The person with higher board scores and better LORs is going to get the $250K job and the person who didn't do so well is going to take the $150K job. Being in medicine does not completely suspend the laws of physics for qualifications-vs-pay.
 
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