Are you sure this is correct? The averages I see quoted have a wild range, but I have never it seen it that high.
Edit:
And everyone on SDN keeps quoting the belief that dentists (including specialists) work 40 or less hours per week making the quoted salaries. I'm not exactly sure how true that is.
Gary "7 of Clubs" Ruska here,
One reason for the wide range on mean incomes is that people often don't specify where the numbers come from. For example, the US Bureau of Labor Statistics annually publishes mean incomes for dentists that are significantly less than those reported by the ADA. Why? Because the BLS uses salaried dentists (academic faculty, dentists who work for the government or are salaried non-owner associates) as their source and also because dentists who are owners and pay themselves a salary tend to pay themselves less as part of a tax-advantage for their business.
Here are the BLS numbers for this year (
www.bls.gov):
Oral and Maxillofacial Surgeons: $190,420
Orthodontists: $194,930
General Dentists: $154,270
Prosthodontists:$168,810
*Data not available for pediatric dentists, periodontists and endodontists
For comparison, here are the available data for Physicians (which, incidentally is cited on the BLS page as being from MGMA, which gives physician salaries from private practice):
Anesthesiology: $321,686
Surgery, General: $282,504
Obstetrics/gynecology: $247,348
Psychiatry: $180,000
Internal medicine: $166,420
Pediatrics: $161,331
Family practice (without obstetrics): $156,010
You'll note that the physician incomes are significantly higher. Why? These are largely private practice incomes, since the data are not from BLS (they even say so on the website), but from MGMA. 90% of dentists still adhere to the independent practitioner model, and thus the BLS numbers likely under-report income for dentists. One quick check is to see the discrepancy between the number of practitioners reported by the BLS and those reported by the ADA. For example, the BLS says that income data comes from 4,760 Oral and Maxillofacial Surgeons, though the ADA reports that there are almost twice that many OMFS practicing). This is why most people use the ADA numbers rather than the BLS numbers when looking at dental income.
The numbers from the ADA report are as follows:
In 2006, the mean income for oral and maxillofacial surgeons in private practice who worked full-time (> 40 hours/week) was:
Incorporated: $438,010 (average work week 41.2 hours)
All Independent: $408,570 (average work week 41.3 hours)
Most people are incorrect in assuming that dentists and dental specialists work much less than 40 hours/week.
From the same series (2006 Income from Private Practice of Dentistry, (c) ADA), here are the average number of hours worked and annual incomes for independent private practitioners:
General Dentist: 40.3 hours/week, annual income = $210,280
Prosthodontist: 41.1 hours/week, annual income = $212,360
Periodontist: 38.7 hours/week, annual income = $285,050
Orthodontist: 38.1 hours/week, annual income = $309,970
Pediatric Dentist: 38.3 hours/week, annual income = $375,370
Endodontist: 38.4 hours/week, annual income = $389,210
Oral and Maxillofacial Surgeon: 41.3 hours/week, annual income = $408,570
For what its worth, nobody really cares about these numbers. Dentistry is one of the few remaining health care disciplines where how much you make is as much about your business acumen as it is your technical skill. This may also be a reason for wide variability in reported income: some people are good with their hands, except when those hands have money in them.