Good sources for physician compensation

[cardsurgguy]

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Was going to post in the other thread about if sources were accurate, but figured this deserved a thread by itself.

I found a few sources that might be of interest. They are good sources and have figures around each other and should be fairly accurate.

They are from sources that are highly regarded. The Bureau of Labor and Statistics uses one of the surveys in the Occupational Outlook Handbook. They just don't put anything in there.
For some reason, I just have a hard time trusting places like salary.com.

The sources of the physician compensation surveys are various medical group management associations such as MGMA (Medical Group Management Association) or AMGA (American Medical Group Association). These are pretty good and reputable sources.

This is the page directly from the Occupational Outlook Handbook area of the Bureau of Labor and Statistics website.
http://www.bls.gov/oco/ocos074.htm#earnings

This is the AMGA's survey (most specialities and subspecialties by far, has sub sub specialties, very detailed)
http://www.cejkasearch.com/compensation/amga_physician_compensation_survey.htm

This is one from Modern Healthcare that lists 5-6 different surveys from different sources (the MGMA and AMGA being two of them).
http://www.merritthawkins.com/pdf/2005_Modern_Healthcare_Physician_Compensation_Review.pdf



If anybody wants location based compensations (plus starting compensations)...

Look at the AMGA's one. It has compensation overall, and compensation for 4 different areas of the country plus starting salary. (the areas are North, South, East, and West as you might have guessed)

 

[DW3843]

thanks for some good resources


I think there must be a typo on that AMGA survey. If not, then I am going to go lock myself in a dark closet, so I can start working on my night vision skills for residency:

Diag Rads in the South = $ 537,942 😱

 

[cardsurgguy]

thanks for some good resources


I think there must be a typo on that AMGA survey. If not, then I am going to go lock myself in a dark closet, so I can start working on my night vision skills for residency:

Diag Rads in the South = $ 537,942 😱

Are you doing a rads residency right now? or plan on going into rads residency?

that was interventional diag rads, so that will always pay more than non-interventional, which was way lower in the survery

If you do interventional diag rads, you'll be well off anywhere

The US average was 410,000, with the lowest paid area of the country according to this was the Eastern area with 345,000, so in other words, dirt poor

 

[EctopicFetus]

Another one.. I like it..

http://www.allied-physicians.com/salary_surveys/physician-salaries.htm

 

[EctopicFetus]

Another thing to consider is that there is a difference between pay and your total compensation.

 

[DW3843]

Are you doing a rads residency right now? or plan on going into rads residency?

that was interventional diag rads, so that will always pay more than non-interventional, which was way lower in the survery

If you do interventional diag rads, you'll be well off anywhere

The US average was 410,000, with the lowest paid area of the country according to this was the Eastern area with 345,000, so in other words, dirt poor

no, I'm still in med school and far from knowing what field I'll go into.

I was just shocked at how for Interventional the average was listed at 410 but the South had 537. It had to be a mistake . . maybe 437?

But like you said, it's not like those guys will be living like starving artists or anything.

 

[APACHE3]

Rads are highest paid in (of all places) LA, MS, AL! So I dont think its a typo ! heard from rad doc at University of Mississippi.

 

[cardsurgguy]

no, I'm still in med school and far from knowing what field I'll go into.

I was just shocked at how for Interventional the average was listed at 410 but the South had 537. It had to be a mistake . . maybe 437?

But like you said, it's not like those guys will be living like starving artists or anything.

Yeah, I was thinking it's probably correct.

Based on what I've heard from word of mouth, the south has a shortage of certain types of doctors, certain subspecialists.

If market forces are good enough and there's a given demand with a really really low supply, that's a mix for a high salary.

That's probably what's going on in the south.

 

[cardsurgguy]

Another thing to consider is that there is a difference between pay and your total compensation.

I think they do factor out things like expenses

The following is from the Occupational Outlook Handbook

Total compensation for physicians reflects the amount reported as direct compensation for tax purposes, plus all voluntary salary reductions. Salary, bonus and/or incentive payments, research stipends, honoraria, and distribution of profits were included in total compensation.

If the money is what is reported for tax purposes, then it should be after expenses.

Nobody is crazy enough to report gross revenues before taking out all of your costs for tax purposes. You'd be paying taxes on your overhead and employee salaries, and all your other costs which you pay.
The physician would report his/her own pay to be taxed.

So the surveys should be pretty good and reflect after expense pay.

 

[EctopicFetus]

No I think you missed my point or I didnt make my point well...

What I mean was say Field x has a compensation of 250K that doesnt mean you will take home 250K (regardless of taxes). It could mean you make $180K then 40K for retirement (aka deferred compensation) and another 30K for your health insurance (not malpractice) and other stuff like that..

 

[cardsurgguy]

No I think you missed my point or I didnt make my point well...

What I mean was say Field x has a compensation of 250K that doesnt mean you will take home 250K (regardless of taxes). It could mean you make $180K then 40K for retirement (aka deferred compensation) and another 30K for your health insurance (not malpractice) and other stuff like that..

Ah, I see. Good point. Didn't think of that.

 

[GuP]

in the AMGA, it lists surgical sports medicine - is there such a thing or are they referring to orthopedic sports med?