How Much Do Doctors Make in 2025? (Specialty Breakdown)

How much do doctors make? Unfortunately, this isn’t a question with a single straightforward answer. Doctor salaries vary considerably based on their years of training and the medical specialty they chose.

In this post, we break down how much doctors make on average, as well as the differences in salary for the most common medical specialties. Which type of doctor do you think makes the most? Find out below.

 

How Much Do Doctors Make on Average

Let’s start with average numbers.

Factoring in all types of specialties, doctors in the US make an average of $352,000 per year. This average is across every type of MD doctor, including specialists. (This data comes from Medscape.)

On average, specialists make more due to the extra training it requires to become a specialist. They make an average of $382,000 a year while non-specialists sit at an average salary of $265,000.

But this doesn’t tell the full story, as doctor salaries can range from over $200,000 to nearly $800,000, even across non-specialists.

 

How Much Do Doctors Make by Specialty

To better understand how much doctors make, let’s look at a breakdown of doctor salaries for the most common specialties. These numbers come from the most recent Doximity Physician Compensation Report, published in 2024.

Specialty Average Annual Compensation
Neurosurgery $763,908
Thoracic Surgery  $720,634
Orthopaedic Surgery $654,815
Plastic Surgery $619,812
Radiation Oncology $569,170
Cardiology  $565,485
Vascular Surgery $556,070
Radiology $531,983
Urology $529,140
Gastroenterology  $514,208
Otolaryngology (ENT) $502,543
Anesthesiology $494,522
Dermatology $493,659
Oncology $479,754
Ophthalmology $468,581
General Surgery $464,071
Pulmonology $410,905
Emergency Medicine $398,990
OB/GYN $382,791
PM&R $376,925
Nephrology $365,323
Pathology $360,315
Neurology $348,365
Psychiatry $332,976
Allergy & Immunology $322,955
Infectious Diseases $314,626
Internal Medicine $312,526
Rheumatology $305,502
Family Medicine $300,813
Endocrinology $291,481
Preventive Medicine $282,011
Pediatrics $259,579
Medical Genetics and Genomics $244,517

There’s a difference of $519,391 between medical genetics and neurosurgery, the lowest paid and the highest paid specialties.

In general, salary differences are based on how many years a physician spends training. Pediatrics and family medicine require 3 years of residency, where plastic surgery takes 6 years, and neurosurgery takes 7 years.

Additionally, the lifestyle of a physician can play a factor in their salary. In the context of a doctor’s hourly rate, there’s a big difference between working 45 hours a week compared to 60 hours a week.

For example, dermatologists make $493,659, which is the 13th highest in the list of specialties above. However, when factoring in a reasonable work week of 45 hours, dermatologists make about $211 an hour. In comparison, while cardiologists make $565,485 a year, they work an average of 58 hours a week. So while they make nearly $72,000 more than a dermatologist, a cardiologist’s hourly rate is approximately $187.50 an hour, $23.50 less than a dermatologist.

Check out our breakdowns of the medical specialties with the highest hourly rate and lowest hourly rate.

 

The Cost of Becoming a Doctor

You might be looking at those salaries and thinking, “Cha-ching!” But salary alone doesn’t tell the full story. Doctors notoriously incur hundreds of thousands of dollars of debt in order to become fully-licensed and board-certified, and some struggle to pay it off even years after becoming a practicing physician.

The average medical school graduate has $250,000 of debt to pay off after medical school. Keep in mind that since this is an average that factors in rich students with no debt at all, many students have much more than $250K of debt when they begin their career.

Additionally, keep in mind that the length of training required to become a doctor is steep, and tuition cost is no joke. It can take anywhere from 7-11 years after college before doctors begin receiving a board-certified doctor’s salary, and that’s before specializations, which can take another 1-3 years, bringing the total to 8-14 years.

Although resident physicians are paid, they only make approximately $60K a year while working up to 80+ hour work weeks.

The largest determining factor for how long it will take to become a doctor is the length of the residency program you choose, but there are a number of other factors to consider, including the hours required per week and the stress of the job.

Overall, becoming a doctor is a secure, safe, and prestigious path that offers as close as you can get to a guaranteed 6 figure salary. But at the same time, doctor training takes over a decade and leaves many new physicians with a staggering amount of debt.

Learn more: Why Are So Many Doctors Broke? Is It Worth the Debt?

If you’re an aspiring physician worried about becoming a broke doctor, invest time as soon as possible toward advancing your financial education. Read books, learn from successful mentors, watch YouTube videos like the ones on the Med School Insiders channel, and follow our blog’s Personal Finance category.

 

The Road to Becoming a Doctor

The money you could make is far from the only factor to consider when choosing which medical specialty you want to pursue. What’s most essential is finding a medical path you’re passionate about. Medical students, residents, and practicing physicians are all prone to burnout due to the stress and demands of the job.

Without passion for your work and continued interest in lifelong learning, you’re very likely to experience unhappiness, depression, and burnout—and no amount of money is worth that.

If you’re a medical student (or proactive premed) trying to choose a specialty or subspecialty, check out our So You What to Be… series, which provides insight into what it’s like to pursue different specialties. We have dozens of articles and corresponding YouTube videos. If you don’t see a specialty you’re interested in, leave a comment below to make a request.

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This Post Has One Comment

  1. john

    psychiatry residency is four years, not five.

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