ER Doctor Salary Question

[LIDO]

I have a question that has been answered in numerous fashions throughout the past. I am curious how much an ER doctor would make NET yearls. When I say net I am implying the subtraction of taxes, malapractice ins. and any other fees doctors normally have deducted from the salary. Let us start the base gross salary at 195,000....this is the average for a first year ER doctor.

I realize loan repayment is a large factor but that can greatly vary with total the amount of debt and repayment plan. Therefore I did not include it in the overall calc. I am looking for a number that every ER doc takes home...not the bills that vary between individuals.

Thank you.

---

Members don't see this ad.

 

[SoCuteMD]

Salary is after malpractice. I don't know the other stuff.

 

[docB]

Anyone's "net" is going to be unique to them. Malpractice varies by region. Some EPs get more cash but have to buy their own benefits as opposed to getting less cash and having benefits provided. How you set up your retirement savings will also affect your net. The amount you pay in taxes will vary depending on how you set yourself up, eg. W2 vs. independent contractor.

To evaluate jobs and compara apples to apples you'd do better to look at gross then determine what things are provided from malpractice down through benefits, vacation, retirement, etc.

Salary is after malpractice. I don't know the other stuff.

Not all jobs pay your malpractice. Some gigs, especially if you're an independent contractor make you pay your own.

 

[SoCuteMD]

Anyone's "net" is going to be unique to them. Malpractice varies by region. Some EPs get more cash but have to buy their own benefits as opposed to getting less cash and having benefits provided. How you set up your retirement savings will also affect your net. The amount you pay in taxes will vary depending on how you set yourself up, eg. W2 vs. independent contractor.

To evaluate jobs and compara apples to apples you'd do better to look at gross then determine what things are provided from malpractice down through benefits, vacation, retirement, etc.


Not all jobs pay your malpractice. Some gigs, especially if you're an independent contractor make you pay your own.

I know that some people have to pay it for themselves, but I was under the impression that the figures published for average salary are after malpractice is paid. You'd know better than I, though.

 

[docB]

I know that some people have to pay it for themselves, but I was under the impression that the figures published for average salary are after malpractice is paid. You'd know better than I, though.

That probably is true that the publicized averages assume med mal paid. That would be a way to make the comparisons more useful. Good point.

 

[EctopicFetus]

I have a question that has been answered in numerous fashions throughout the past. I am curious how much an ER doctor would make NET yearls. When I say net I am implying the subtraction of taxes, malapractice ins. and any other fees doctors normally have deducted from the salary. Let us start the base gross salary at 195,000....this is the average for a first year ER doctor.

I realize loan repayment is a large factor but that can greatly vary with total the amount of debt and repayment plan. Therefore I did not include it in the overall calc. I am looking for a number that every ER doc takes home...not the bills that vary between individuals.

Thank you.

Keep in mind that your taxes will vary by state (Cali with very high state taxes vs Texas, Nevada, Florida and others with no state tax) also your fed taxes depend on your marriage status home ownership etc.

I would assume about 20-25% in federal taxes after all your deductions are done. As states above this matters a lot..

On top of that about 5600 in Social security and 1.45% to medicare.

 

[Apollyon]

Keep in mind that your taxes will vary by state (Cali with very high state taxes vs Texas, Nevada, Florida and others with no state tax) also your fed taxes depend on your marriage status home ownership etc.

I would assume about 20-25% in federal taxes after all your deductions are done. As states above this matters a lot..

On top of that about 5600 in Social security and 1.45% to medicare.

DocB is in Nevada, and he says he's in a 50% tax bracket - the discrepancy lies somewhere, and I think that it is in your 20-25% (which I believe is 10-15% lower than what it actually is). I don't know where the other 15% goes.

 

[Peter Parker]

FWIW, most recent salary figures I've seen ... EM at ~$220,000.
Check attached file for a comparison among other specialties.

Source: N Engl J Med 2006; 355:864-866, Aug 31, 2006

 

[LIDO]

Thank you for the post. So assuming that one makes 220,000 then after paying out approx./roughly 70,000k in taxes one should net about 150,000 take home? Does this sound roughly accurate?

 

[beaudubbs]

While certainly not average, one of the EMRA lecturers (she was an attending from NY Presby) over the weekend in NOLA mentioned that she knew of classmates that went to work in EM in Saudi Arabia (prior to 9/11 and Iraq war part deux) after graduation from Residency making annual salaries of circa 1 million dollars. Crazy. Bet that paid off the loans in a jiffy.

 

[EctopicFetus]

DocB is in Nevada, and he says he's in a 50% tax bracket - the discrepancy lies somewhere, and I think that it is in your 20-25% (which I believe is 10-15% lower than what it actually is). I don't know where the other 15% goes.

As I mentioned the FEDERAL Tax would be between 20-25%.. The highest tax bracket is 35%.

FWIW even if you "hit" the 35% tax bracket you still dont pay taxes on the amount other than the marginal amount.

Per the tax table.. If your FED Adjusted Gross income is 326K you payabout 95K in taxes which is just about 30%. Keep in mind if you make 250k you prob have a fagi of about 200 or less.

Here is the Fed tax table

http://www.irs.gov/pub/irs-pdf/i1040tt.pdf

 

[EctopicFetus]

Thank you for the post. So assuming that one makes 220,000 then after paying out approx./roughly 70,000k in taxes one should net about 150,000 take home? Does this sound roughly accurate?

No.. Keep in mind youll prob drop 15K into your 401K then 6K for Social Security, and 1.45% to medicare~3000... leaving about 200K but dont forget health insurance etc... If your interest on your home plus property taxes is 50K then your FAGI is 150K.

If your FAGI is 150K and you are single your taxes are 36K.

 

[WestcoastMedicine]

I realize this is not "net" income.

There is an article in the latest ACEP News (October Issue, Page 6) entitled "Salaries Rise Nearly 12% in Five Years: Median Compensation for EM Physicians per Year"
2000 $198,423
2001 $210,597
2002 $211,709
2003 $215,859
2004 $221,679


Does this take into account BC/BP EM physicians as well as non BC/BP, the article does not state. I would imagine BC/BP have a higher earning potential.

 

[LIDO]

Thank you all for the information....very informative. One other question though; looking at the average salaries given how many hours a wk or month do these doctors normally work (including seeing patients and all the other paper work afterwards)?

 

[LIDO]

*bump*

 

[EctopicFetus]

Thank you all for the information....very informative. One other question though; looking at the average salaries given how many hours a wk or month do these doctors normally work (including seeing patients and all the other paper work afterwards)?

Most docs work 1600-1750 hours per yr.. Pure clinical. This doesnt necessarily include paperwork as people work at different speeds and you are compensated extra for this.

Assume 125 to 150 an hour min for most community jobs.

 

[EctopicFetus]

I realize this is not "net" income.

There is an article in the latest ACEP News (October Issue, Page 6) entitled "Salaries Rise Nearly 12% in Five Years: Median Compensation for EM Physicians per Year"
2000 $198,423
2001 $210,597
2002 $211,709
2003 $215,859
2004 $221,679


Does this take into account BC/BP EM physicians as well as non BC/BP, the article does not state. I would imagine BC/BP have a higher earning potential.

The question of compensation is a tough one? How is compensation defined? Does this include the retirement matching they give? Bonuses? Health Insurance? since most of these are likely done on a survey basis who knows if what people are reporting is the same thing.

 

[leviathan]

I have a question that has been answered in numerous fashions throughout the past. I am curious how much an ER doctor would make NET yearls.

I'm not sure, but I think it's about the same as an OR doctor?

 

[ER-ER-Oh]

Thank you for the post. So assuming that one makes 220,000 then after paying out approx./roughly 70,000k in taxes one should net about 150,000 take home? Does this sound roughly accurate?

Figure about $12,000/mo take home as a base, after taxes. First year out, many work extra shifts to crank up the income. If you're used to doing 16 shifts or more/mo in residency you'll probably make that $12,000/mo for 12 shifts (12hrs.) and doing 4 more/mo. won't bother you for a couple of years. That could bring in an additional $3000/mo take home, total $15,000/mo. take home pay...$180,000/year take home. As you get experience you can usually up your pay scale. Deducting all kinds of tax breaks for loan interest, etc. can net you more.

 

[neelima]

hi anyone doing course in clinical research/know about credibility of online clinical research courses