2023 Physician Compensation Report: Top-Earning Specialties, Persistent Gender Pay Gaps, and the Burnout Epidemic
Doximity’s latest Physician Compensation Report highlights key trends in physician salaries for 2023, showcasing the highest-paid specialties and metropolitan areas. Based on a survey of over 33,000 full-time physicians, the report indicates a 5.9% increase in average physician pay, rebounding after years of modest growth. However, inflation pressures have impacted real income and a 26% decline in Medicare physician payments since 2001. Neurosurgeons topped the compensation chart, while pediatric endocrinologists earned the least.
Gender pay disparities continue to be a significant issue, with female physicians earning 23% less than their male counterparts, showing a slight improvement from the 26% gap in 2022. While no specialties saw equal or higher earnings for women, 12 specialties have narrowed the gap to below 10%. Despite a 40% satisfaction rate with current compensation among physicians, only 31% feel their pay reflects their expertise and effort. The burnout crisis persists, with 81% of physicians reporting being overworked and 59% considering employment changes. Critical solutions to improving physician well-being and reducing burnout include reducing administrative burdens, higher compensation, and greater autonomy.
Charted: The Highest (and Lowest) Paid Physician Specialties (Advisory Board, 5/29)
