Healthcare practitioners are usually perceived as among the best-compensated professionals working today. But within their ranks, salaries and demand can vary greatly, particularly as the industry works to respond to rapid change.
Listed here are the best-paying jobs for doctors right now, according to medical search and consulting firm Merritt
Merritt Hawkins reviewed internal data to determine the 20 most requested medical specialties between April 1, 2013 and March 31, 2014. The compensation information listed here reflects starting salaries, as opposed to total annual compensation figures that might include bonuses or benefits. As such, the list provides a picture of the incentives offered to medical professionals during the recruiting process.
"Though the healthcare system is evolving," states the report, "and the role of other clinicians is growing, physicians remain the 'quarterbacks' of the healthcare delivery team and are at the center of the healthcare system. Through patient consultations, hospital admissions, treatment plans, prescriptions, tests, and procedures physicians control the levers to both quality of care and healthcare economics."
At the front of the pack this year are neurosurgeons, who are offered an average annual base salary of $591,000 during the search process. Urologists fared equally well, with an average annual salary of $504,000. Orthopedic surgeons--members of the profession that topped last year's ranking--are guaranteed an average annual base salary of $488,000.
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Invasive cardiologists tie with gastroenterologists-- doctors who address stomach and intestine functions and disorders--at an equal $454,000.
"These numbers are an absolute reflection of demand," said Travis Singleton, senior vice president of Merritt Hawkins. "We’re saying, 'I couldn't possibly know what you made or if you worked hard that year—this is what hospitals have to do to replace you.' It’s a very pure reflection of the market need."
At the other end of the compensation spectrum are Family Medicine practitioners, those specializing in Internal Medicine, and Pediatricians.
Singleton said that while demand for primary care practitioners continues to rise against the rapidly changing healthcare landscape, specialists still bring home the bigger salaries--and that's not likely to shift anytime soon.
"There is a gap--it’s narrowing but it will never go away," said Singleton. "Diagnostic and consultative medicine is less compensated and less complicated than the procedures specialist do. You’re never going to see that change."
The Best-Paying Jobs For Doctors
1. Neurosurgery
Average: $591,000
2. Urology
Average: $504,000
3. Orthopedic Surgery
Average: $488,000
4. Cardiology (Invasive)
Average: $454,000
(Tied with Gastroenterology)
4. Gastroenterology
Average: $454,000
(Tied with Cardiology - Invasive)
6. Cardiology (Non-Invasive)
Average: $442,000
7. Hematology/Oncology
Average: $377,000
8. Otolaryngology
Average: $372,000
9. Pulmonology
Average: $358,000
10. General Surgery
Average: $354,000
