What kind of physician makes the most money per hour?

[Pedsbro]

I was actually pretty interested in this, so I decided to make a spreadsheet of the major specialties to see which ones topped the list for hourly compensation. I was surprised to see that actually EM is about the middle of the road.

Feel free to comment. Enjoy!

Very nice sheet, but no neurosurg?? Also, I don't imagine the after-tax salary you used includes malpractice insurance costs, which vary considerably by specialty and location?

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[circulus vitios]

This brings up a question I've had for a while - can someone tell me why radiologists and anesthesiologists get paid so much more? I get derm being high despite the low work load since so much is not insurance based, but it seems like (from my admittedly scant exposure through shadowing) that the main reason these are competitive is the fact that students want the $$ and lifestyle, not that they are intrinsically more challenging than many other specialties? I wouldn't guess it would be the freelance factor like in derm, so what is it? I assume there's something obvious I'm overlooking.

I think there was an anesthesia shortage 10 or 20 years ago. I remember reading the average anesthesia salary was around $125k in the early 90's.

 

[Chemdude]

I think there was an anesthesia shortage 10 or 20 years ago. I remember reading the average anesthesia salary was around $125k in the early 90's.

Yeah, but $125k in 1990 is about $200,000 today. So the increase in income was about 20%(pretty big, but not HUGE).

 

[rama kandra]

but which specialty gets the most action wink wink nudge nudge

 

[circulus vitios]

but which specialty gets the most action wink wink nudge nudge

ob/gyn

 

[hypnix]

ob/gyn

lol

 

[Lacheln]

ob/gyn

Ewwwwwwwwww. I'm now officially traumatized

Thanks for the info about the shortage. I still don't think that explains it though, I would think that would have corrected itself given the glut.

 

[Dissected]

but which specialty gets the most action wink wink nudge nudge

The one's who aren't on call or don't work 60+ hours per week, these are the real limiting factors. Its a matter of free time

 

[strongboy2005]

If the teacher calculation (hours/week) takes into account summer and winter break (basically vacation time), it would be about 37 weeks instead of 52. Thats 40 hours per week (makes sense at 8 hours per day) and 17.45 per hour. This means that pediatric doctors make about 92% more than teachers hour-for-hour.

No, the teacher calculation already takes all the vacation time into account.

Teachers work 185 8-hour days a year. This means they work 1480 hours per year. The median after-taxes teacher salary is $36,297.56 per year.

Therefore, teachers work for $36297.56/1480 hours = $24.53 per hour

 

[rama kandra]

the medical profession is completely flexible to your needs or wants... a teacher is generally stuck at whatever subject matter they are teaching, or limited to public or private teaching but a doctor could go into many areas including teaching, private practice, government work, relief aid and more... I don't know too many teachers with exciting branched opportunities during their 30's.

so part of that salary is dependent on flexibility, a teacher can only make so much b/c they are honestly not going anywhere. as a doctor I know I will have enough skills to create my own life and style of work in an area I want. That is power.

 

[strongboy2005]

the medical profession is completely flexible to your needs or wants... a teacher is generally stuck at whatever subject matter they are teaching, or limited to public or private teaching but a doctor could go into many areas including teaching, private practice, government work, relief aid and more... I don't know too many teachers with exciting branched opportunities during their 30's.

so part of that salary is dependent on flexibility, a teacher can only make so much b/c they are honestly not going anywhere. as a doctor I know I will have enough skills to create my own life and style of work in an area I want. That is power.

I agree. Heck, an MD could be a high school teacher in a second if they wanted to.

 

[Dissected]

No, the teacher calculation already takes all the vacation time into account.

Teachers work 185 8-hour days a year. This means they work 1480 hours per year. The median after-taxes teacher salary is $36,297.56 per year.

Therefore, teachers work for $36297.56/1480 hours = $24.53 per hour

Oh I see where I went wrong. I got hung up on the hours per week. You divided 1480 hours by 52 giving 28.5 hours per week. I was saying that they only work 37 weeks of the year so the weekly hours should be 40 hrs a week (which is true). BUT I thought you had found the weekly wage online and were dividing it by 28.5 which would give you the wrong number.....but I misunderstood. I see how you did it now.

 

[rama kandra]

ah ah ah ah ahhh

 

[RySerr21]

but which specialty gets the most action wink wink nudge nudge

Pediatrician FO SHO. Think about it. Single mothers, concerned for their childrens health....who is there to save them?? The handsome, young, compassionate doctor.... *wink wink* Maybe you are so concerned you do a home visit? She is so happy she invites you to stay and have dinner. You politely decline at first, to maintain your professionalism, but she insists.....now you can't decline, that woud be insensitive.....dessert....who knows? heh? heh?

 

[iduwanna]

1,000,000 Strong to Overturn Prop 8

This is hilarious considering that more than 7 million voted yes.

 

[teddybear]

the medical profession is completely flexible to your needs or wants... as a doctor I know I will have enough skills to create my own life and style of work in an area I want. That is power.

You've got your head in the clouds.

 

[teddybear]

I agree. Heck, an MD could be a high school teacher in a second if they wanted to.

What are you smoking?

 

[rama kandra]

I don't see how I'm wrong, so please include something beyond 'what are you smoking,' or that my head is in the clouds. Argue if you must.

 

[teddybear]

I don't see how I'm wrong, so please include something beyond 'what are you smoking,' or that my head is in the clouds. Argue if you must.

The medical profession will not be completely flexible to all your needs and wants. You will find limits no matter what path in life you decide to walk. You cannot be God.

To be a high school teacher one must have a degree in education and be licensed by the state they want to teach in. As an MD you cannot just walk into a high school and say, "Here I am, I'm gonna teach you kids anatomy."

 

[rama kandra]

I think the purpose of my comment was this:

if we are to compare why a teacher makes X amount of dollars and why a physician earns more, we should note that physicians have not only years of additional training, but also a level of flexibility and job safety that most professions dont have. I can chose to work in a lot of different areas of medicine or go into academics, pure research, whatever whatever.

Being a teacher in a suburban high school is limiting because your job is essentially movement within a narrow scope. Take it or leave it at that. There are ALWAYS outliers and exceptions.

I agree, every career and path has limitations. Thats not what I am talking about. Rather, the physician has a cushy spot in the realm of carving his or her own path after getting to the point of practice. There is simply a lot of interesting things that a doctor could do that doesnt happen easily with most professionals.

 

[teddybear]

I think the purpose of my comment was this:

if we are to compare why a teacher makes X amount of dollars and why a physician earns more, we should note that physicians have not only years of additional training, but also a level of flexibility and job safety that most professions dont have. I can chose to work in a lot of different areas of medicine or go into academics, pure research, whatever whatever.

Being a teacher in a suburban high school is limiting because your job is essentially movement within a narrow scope. Take it or leave it at that. There are ALWAYS outliers and exceptions.

I agree, every career and path has limitations. Thats not what I am talking about. Rather, the physician has a cushy spot in the realm of carving his or her own path after getting to the point of practice. There is simply a lot of interesting things that a doctor could do that doesnt happen easily with most professionals.

I don't think I would use the word cushy.

 

[Ella Shepherd]

Same here. It actually makes me very angry. You'll ask a high school kid their intended major for undergrad, and they will tell you "Surgeon".

I'm getting a B.S. In surgery and a Masters in Dermatology. I think I'll get a Ph.D. in comedy (not like I really need it, right? )

LOL

 

[VanBrown]

If your motivation for becoming a doctor is to make money then you should probably quit while you are ahead.

I work with and know a lot of medical students and an alarming number of them went to medical school without knowing what it meant to be a doctor and now they are all scrambling to "make it work." They hate patient care and the work hours and are all looking for the "easy out."

So if you don't realize now what you are getting into I would advise you to not take up a spot of someone who actually wants to be a doctor.

If you are hoping that by becoming a doctor you will be making a lot of money and living a lavish lifestyle then quit now.

 

[hemoglobincell]

To be a high school teacher one must have a degree in education and be licensed by the state they want to teach in. As an MD you cannot just walk into a high school and say, "Here I am, I'm gonna teach you kids anatomy."

Nah only a bachelor's degree and then pass a state test. I could teach high school chemistry with my bachelors in chemistry.

 

[EpiPEN]

Actually, if you just want the money, here's what you do. Get a MD, then don't do any residency or fellowship. Instead, turn to industry and work as a consultant and make bank. I think if you were in it only for the money in the first place, then everyone would be happier off if you did that.

 

[Rzarecta]

I agree. Heck, an MD could be a high school teacher in a second if they wanted to.

An MD could be a high school teacher in a second if HE/SHE wanted to.


Not so easy

 

[chemolupusMD]

I shadowed a dermatologist, he took care of about 5-7 patients per hour (on average, sometimes 1 patient is 30 min some time is less than 3 min). He showed me how he made on average about $150-200 per patient. I am lazy so i wont do the math. Also, his work was a 9-5 you also have to take into account that eventhough they make 1 million dollars they work their butts off with 130 hr weeks.

 

[grassisgreener]

If your motivation for becoming a doctor is to make money then you should probably quit while you are ahead.

I work with and know a lot of medical students and an alarming number of them went to medical school without knowing what it meant to be a doctor and now they are all scrambling to "make it work." They hate patient care and the work hours and are all looking for the "easy out."

So if you don't realize now what you are getting into I would advise you to not take up a spot of someone who actually wants to be a doctor.

If you are hoping that by becoming a doctor you will be making a lot of money and living a lavish lifestyle then quit now.

THANK YOU! I bust my my ass to get my 3.6, work full time! I am not doing it for the money, but for the people.

 

[FIREitUP]

As told best by Biggie


In all seriousness:

***Money =/= Happiness!!***
When you get to making 150k+ a year you are in the top 5% (roughly) of all income earners. More than enough to live comfortably and indulge. There are other things to worry about in life. That being said, I will never go into pediatrics .

I would have thought that the relationship would be more parabolic. Perhaps U shaped due to the fact that no money causes many problems as well.

You just got Pre-meded! It's like punked, except I point out unnecessary and insignificant errors in your post!

 

[Nomdeplume]

Nah only a bachelor's degree and then pass a state test. I could teach high school chemistry with my bachelors in chemistry.

This is true where I live, though I do believe it varies by state, and possibly by county / district.

As far as I've ever been told, most places do just require a bachelor's or higher in the subject you're teaching (or closely related), plus proper certification (which can be obtained fairly quickly).


Edit:

You just got Pre-meded! It's like punked, except I point out unnecessary and insignificant errors in your post!

 

[justdoit31]

An Oral Surgeon (OMFS) with a successful practice is probably up there. Pulling 3rds and placing implants 4 days a week will lead to a few hundred K a year.

I agree- I nanny for one and he has his own practice- I don't know exactly how much he makes but I know he paid all his loans off (UG and private dent) in less than 5 years and pays cash for everything except his house which is almost paid for (and between that and the lakehouse worth over 2 million)

I would think his take home is around $400,000-$500,000 a year. And Christmas (and birthdays) at their house is unreal- even for the nanny!

And his job is great he works 3 full days a week and 2 half days- shares call with some other OMFS in the area and has ample time to spend with his wife and 3 kids (1 more on the way!) - I personally couldn't see myself pulling wisdom teeth each day which he says is what pays the bills and then some of the other procedures supplement but the real dough is from the wisdom teeth