How much do Podiatrists make after residency? How is the demand...? How much can they make?

[bobdole112]

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Hi everyone I am just wondering. How much do New Grad Podiatrists make after residency? I read its like 80-100k after residency..? How is the demand for podiatrists too? Especially in NYC, NY and in the North East.

How much could Podiatrists after 5 - 10 years..?
I read on the MGMA website that Podiatrists make about 180k on average in the Northeast and 200k+ in other parts of the US..?


I am just curious.

It seems from what I read, podiatrists are struggling to get reimbursed for procedures as compared to their DO/MD peers.

What do you al think?

 

[ashtonmccants]

This is answered in the Podiatric physician and resident forum several times. If you want the best answer, you might want to ask the guys that are actually practicing and gearing up to practice. From what I know, it varies based on skill level, location, and practice habits. I know for sure that most of a podiatrist's salary does not come from surgical procedures. Although surgery can be lucrative, it is not the bread winner in most cases. As I stated earlier, this section of the podiatry forum would not be the best place to get your most valid answer. Hope this helps.

 

[heybrother]

There's a bunch of threads there over there, but I don't think I've ever seen anything definitive enough to hang a hat on. If I was being terrible I'd say that most people's debt will grossly exceed their income for a long time. I'd be happy to be wrong about that, however.

 

[ashtonmccants]

The best people to ask in my opinion would be those that are in geographic areas similar to those areas you would want to practice. Also look at their practice model as well. Some practices are more surgical than others. At the end of the day, this is an answer that is better suited for a practicing podiatrist. I've heard of some podiatrist making around 50k their first year out of residency, and some as high as 400k (not in their first year, but at their peak). I've also heard of some residents being hired on in the low 200's but there are so many variables to this.

 

[heybrother]

That's great, but the OP is looking for a income number (cause he's probably already got a debt number) and I think his question remains unanswered - the answer is not found in the physician forum. You have some anecdotes and sprawled around this forum we have some more that could be painstakingly dug out in the midst of off-topic discussions. The podiatry schools each put forward different numbers. The department of labor puts forward some other number. A poorly done survey from years ago puts out a pitifully low answer. Every once in awhile the podiatry management website puts out some numbers. It is hard to find definitive salary data for this profession - especially for pre-pods.

 

[bobdole112]

That's great, but the OP is looking for a income number (cause he's probably already got a debt number) and I think his question remains unanswered - the answer is not found in the physician forum. You have some anecdotes and sprawled around this forum we have some more that could be painstakingly dug out in the midst of off-topic discussions. The podiatry schools each put forward different numbers. The department of labor puts forward some other number. A poorly done survey from years ago puts out a pitifully low answer. Every once in awhile the podiatry management website puts out some numbers. It is hard to find definitive salary data for this profession - especially for pre-pods.

from my research it looks likes it 110-130k starting. Definitely have to work hard to raise it.

 

[newres64]

Hi everyone I am just wondering. How much do New Grad Podiatrists make after residency? I read its like 80-100k after residency..? How is the demand for podiatrists too? Especially in NYC, NY and in the North East.

How much could Podiatrists after 5 - 10 years..?
I read on the MGMA website that Podiatrists make about 180k on average in the Northeast and 200k+ in other parts of the US..?


I am just curious.

It seems from what I read, podiatrists are struggling to get reimbursed for procedures as compared to their DO/MD peers.

What do you al think?

I'm going to try to answer your questions one by one to the best of my ability. Disclaimer: I am a current resident so i might not be the most knowledge on some of these aspects

How much does a new grad make?
Generally 80-120K is the standard from what I've heard/seen. The number tends to be closer to 80 in areas such as new york I've heard but I have personally talked to graduating residents who have secured positions that start over 100K in new york metro area

How is the demand for podiatrists?
According to BLS the projected growth rate for the profession over the next 10 years is 23%. This is pretty much on par with most major medical specialties. The population is aging and living longer. As for specific areas, everyone talks about how "Saturated" new york metro area is but all the pods I interact with seem to always be busy. Even new pods who maybe opened their office only a few years ago I see busy. I look at it like this, there are over 20+ million people in the new york metro area....that's 20+ million potential patients. Seems to be enough to go around

How much could podiatrists make after 5-10 years?
Well the sky is the limit. I know of pods making 7 figures but I also know of ones who barely cross 100K. While there are many reasons for this disparity (work hours, type of employment, skills etc) it's mainly dependent on how much you want to work. The pods that are making the "big bucks" work 60+ hour weeks. As for an average/median the MGMA number is probably the closest.

 

[PatchAdamsFan]

Mean compensation $244,000, 25%tile $201,000 and 75%tile $275,000, for a hospital based podiatrist
You can find tons of info if you're willing to shell out some heavy $ (I don't have the report, just the above info from it). http://www.mgma.com/store/surveys-a...duction-survey-2014-report-based-on-2013-data

 

[heybrother]

Those numbers are nice, but when I read that document in the past I thought the sampling was abysmally small. I'm also quite certain I've read other physicians on these forums (SDN as a whole) discussing the quality of the MGMA numbers and their usefulness was disputed. Probably better than nothing, but the numbers I am most interested in are years 1-3. That may be a form of tunnel vision and not sufficiently looking into the future, but mid-$100's income could rapidly retire student debt with frugal living.

Anyway - I guess the one thing that can be said for this thread is we'll put all our anecdotes / surveys in one place.

 

[Promethean]

Glassdoor.com is a wonderful resource for this kind of information.

 

[ldsrmdude]

That's great, but the OP is looking for a income number (cause he's probably already got a debt number) and I think his question remains unanswered - the answer is not found in the physician forum. You have some anecdotes and sprawled around this forum we have some more that could be painstakingly dug out in the midst of off-topic discussions. The podiatry schools each put forward different numbers. The department of labor puts forward some other number. A poorly done survey from years ago puts out a pitifully low answer. Every once in awhile the podiatry management website puts out some numbers. It is hard to find definitive salary data for this profession - especially for pre-pods.

Unfortunately, the answer is always "It depends" and it's that way for a reason. There is a wide variation in practice types, location, hours worked, type of patients seen, number of patients seen, etc. Among many other reasons, a big reason all these different surveys have different salaries is that they're usually surveying different groups of physicians. The ones who answer the ACFAS surveys probably tend to be more surgically oriented, possibly higher percentage of pods in ortho groups, whereas the ones on the PM survey probably tend to be more in private practice, less surgery, MGMA is more hospital-based, etc. ACFAS and PM put out surveys every year (every other year?) and are probably the biggest surveys.

There have been quite a few threads in these forums that all give about the same basic starting salary (~100K) and I think that's probably reasonable. There will definitely be some making more and probably some making less, but I think it's a decent ballpark estimate for first year salary, right out of residency. Bottom line, the very large majority of podiatrists make enough to live comfortably, a small percentage make huge money, a small percentage struggle financially. Although I'm sure they exist, I haven't met a podiatrist who said they couldn't pay off their student loan debt.