Written By Melanie Lockert
Updated on May 2, 2024
Working in the American healthcare system as a physician can lead to a comfortable income. The average physician salary was $352,000 in 2023, according to the Medscape Physician Compensation Report 2023. However, certain specialties pay much more — and in some cases, much less.
Looking at data from the Doximity 2023 Physician Compensation Report we determined which physician salary by specialty were the highest-paid in the field. We also look at the top 10 highest-earning specialties in pediatric care. When possible, we included data on compensation growth and the gender pay gap among specialties.
10 highest-earning physician specialties, ranked
Highest-paid adult specialties
| Adult specialty | Annual salary (highest earning) |
|---|---|
| Neurosurgery | $788,313 |
| Thoracic surgery | $706,775 |
| Orthopaedic surgery | $624,043 |
| Plastic surgery | $571,373 |
| Vascular surgery | $557,632 |
| Oral & maxillofacial surgery | $556,642 |
| Radiation oncology | $547,026 |
| Cardiology | $544,201 |
| Urology | $505,745 |
| Radiology | $503,564 |
Highest-paid pediatric specialties
| Pediatric specialty | Annual salary (highest earning) |
|---|---|
| Pediatric emergency medicine | $287,635 |
| Pediatric gastroenterology | $282,853 |
| Child neurology | $273,167 |
| Medicine/Pediatrics | $270,396 |
| Pediatric pulmonology | $263,742 |
| Pediatrics | $242,832 |
| Pediatric nephrology | $238,208 |
| Pediatric hematology & oncology | $237,005 |
| Pediatric rheumatology | $226,186 |
| Pediatric infectious disease | $221,126 |
Raking it in: 10 highest-paying adult specialties
Adult physician specialties top the charts in physician earnings, far exceeding earnings by physicians who care for children.
1. Neurosurgery
Average salary: $788,313 per year
Neurosurgery took the top spot as the highest physician salary, with an annual compensation of $788,313, according to Doximity. Neurosurgery includes surgery on the brain and other parts of the nervous system, requiring a high level of skill and many years of study.
2. Thoracic surgery
Average salary: $706,775 per year
Compensation growth by specialty: 3.2%
Coming in second place for highest average compensation is the field of thoracic surgery, commanding an average salary of $706,775 annually. According to Doximity, there was a salary increase among all specialties in 2021 during the pandemic. However, that’s not the case in 2022, with stagnant wages or even some decreases. Some specialties have seen compensation growth in 2022, including thoracic surgery, with wages going up by 3.2%.
3. Orthopaedic surgery
Average salary: $624,043 per year
Orthopaedic surgery — which is sometimes spelled more commonly as orthopedic surgery — is one of the highest-paid specialties, with an average salary of $624,043 per year. Physicians in this field diagnose and treat conditions related to the musculoskeletal system. Some have a subspecialty such as hand, foot and ankle, and sports medicine.
4. Plastic surgery
Average salary: $571,373 per year
Compensation growth by specialty: 2.6%
Plastic surgery is an in-demand medical specialty that can help with both cosmetic and reconstructive procedures. Given the range of skills and popularity, it makes sense that plastic surgeons are higher paid than some other specialties, at $571,373 per year. Additionally, compensation rose by 2.6% in 2022, while many other specialties stayed flat.
5. Vascular surgery
Average salary: $557,632 per year
Vascular surgery comes in the middle of the top 10 highest-paid specialties, with an average salary of $557,632 per year. Vascular surgeons do important work around circulation and treating potential issues with arteries and veins, including aneurysms and varicose veins.
6. Oral & Maxillofacial surgery
Average salary: $556,642 per year
Those working in oral & maxillofacial surgery help patients with concerns related to teeth, jaws or mouth injuries and can help treat and diagnose potential issues and diseases. This specialty earns an average annual salary of $556,642, but oral & maxillofacial surgery has the largest pay gap among genders. In 2022, men earned an average of $568,789 annually, while women earned an average of $395,687 per year.
7. Radiation oncology
Average salary: $547,026 per year
Radiation oncology is a specialty that works with cancer patients by using powerful radiation to kill cancer cells. This can be life-saving work and comes with an average salary of $547,026 per year. While it’s still a competitive salary as far as careers go, in general, it’s lands at just the seventh-highest specialty for doctors.
8. Cardiology
Average salary: $544,201 per year
The heart and blood vessels keep us alive. If patients experience any issues, such as a heart attack or heart failure, it can be serious. That’s where cardiologists come in and help treat disorders related to the heart and blood vessels, or cardiovascular disease. This specialty earns a high income, commanding an average annual salary of $544,201.
9. Urology
Average salary: $505,745 per year
Urologists specialize in diseases and issues related to the urinary tract, for example, issues with the kidney or bladder. The average salary in urology is $505,745 per year, however, there is a notable gender pay gap when looking at male and female physicians in this specialty. It had the fourth-largest pay gap between genders, with men earning an average annual salary of $515,850 in 2022 and women earning an average of $424,733.
10. Radiology
Average salary: $503,564 per year
In the last spot on the top 10 list of highest-earning physician specialties is radiology, which comes with an average salary of $503,564 per year. Radiologists can help patients get additional medical insight through imaging techniques, like CT scans, MRIs or X-rays.
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10 highest-paying pediatric specialties: Small patients, big hearts, and modest paychecks
Who you serve with your specialty also makes a big difference in your earning potential. Unfortunately, pediatricians who’ve committed their lives to the well-being of children tend to earn much less than physicians serving adults.
1. Pediatric emergency medicine
Average salary: $287,635 per year
Compensation growth by specialty: 2.6%
Pediatric emergency medicine physicians work in critical care and help children in a variety of emergencies. Whether it’s the impact of a car accident, school shooting, or other incidents like asthma attacks or injuries, pediatric emergency medicine physicians can help. This specialty is adept at handling crises and earns the highest average salary among pediatric specialties at $287,635 per year. Additionally, incomes rose by 2.6% in 2022, making it a notable specialty.
2. Pediatric gastroenterology
Average salary: $282,853 per year
Pediatric gastroenterologists help children with digestive issues find a diagnosis and treatment. Whether it’s celiac disease, inflammatory bowel disease or abdominal pain, pediatric gastroenterologists help find the underlying problem. As a specialty, pediatric gastroenterology is the second highest-paid pediatric specialty, with an average salary of $282,853 per year.
Pediatric gastroenterology has the third-smallest pay gap among genders. Men in this specialty earned an average of $293,771 in 2022, while women earned $264,135 on average
3. Child neurology
Average salary: $273,167 per year
Physicians with a child neurology specialty earn an average salary of $273,167 per year and serve children with nervous system disorders. They can help manage and diagnose brain tumors, epilepsy, some developmental disorders, intellectual disabilities and more.
4. Medicine/Pediatrics
Average salary: $270,396 per year
One of the top-paying pediatric specialties is medicine/pediatrics, which trains doctors in internal medicine and pediatrics. Doctors can work with patients from childhood to adulthood, and have a great deal of flexibility. This specialty earns an average salary of $270,396 per year. There is a gender pay gap, but it’s the fifth-smallest gap among pediatric specialties. In 2022, men earned $283,034 on average, while women earned $253,019 per year.
5. Pediatric pulmonology
Average salary: $263,742 per year
The field of pediatric pulmonology focuses on treating and diagnosing disorders of the lungs, such as asthma, cough and more. This specialty earns an average salary of $263,742 per year. Unfortunately, pediatric pulmonary medicine also has the second-largest gender pay gap. As of 2022, men earned $282,272 on average, while women only earned $227,958 per year.
6. Pediatrics
Average salary: $242,832 per year
Through the general pediatrics specialty, physicians manage, treat and diagnose health issues for children. Serving as primary care physicians for children, this specialty plays an important role in a child’s health and development. Doctors with a pediatrics specialty earn an average salary of $242,832 per year.
7. Pediatric nephrology
Average salary: $238,208 per year
Pediatric nephrology, which focuses on kidney disorders and diseases, is the seventh-highest earning specialty for pediatric doctors. The specialty earns an average salary of $238,208 per year.
8. Pediatric hematology & oncology
Average salary: $237,005 per year
Doctors with a pediatric hematology and oncology specialty work with children who are experiencing blood disorders or cancers. This can be an emotionally tough job and comes with an average salary of $237,005 per year.
9. Pediatric rheumatology
Average salary: $226,186 per year
Compensation growth by specialty: 4.2%
Pediatric rheumatology is one of the few specialties that had compensation growth in 2022, going up by 4.2%. The average salary for pediatric rheumatology is $226,186 per year. Physicians with this specialty help treat and diagnose a range of autoimmune diseases.
10. Pediatric infectious disease
Average salary: $221,126 per year
Compensation growth by specialty: 4.9%
Sneaking into the top 10 top pediatric physician salaries by specialty is pediatric infectious disease specialty. Doctors with this specialty help manage infectious diseases in children caused by bacteria, viruses and more. Pediatric infectious disease specialists earn an average of $221,126 per year. In 2022, compensation for this specialty rose by 4.9%.
Paycheck prescription: Unpacking the variables that shape physician salaries
The physician salary by specialty numbers listed are just an average — there are a range of factors that shape how much a physician earns.
This can include geographic location within the U.S., overall experience, supply and demand, your subspecialty training, whether you work at a public hospital versus private practice, or practice part-time or full-time.
If you’re an oncologist in New York City or California with 20 years of experience, it’s not fair to compare your salary with someone just starting out and employed in a lower-cost-of-living state like Oklahoma, Alabama, Virginia, Indiana, Wisconsin or Missouri, and vice versa. In other words, physician income has many variables that determine overall compensation.
Beyond salary: Other considerations in specialty choice
Whether you’re thinking of becoming a doctor or already employed as one, understanding each physician salary by specialty is valuable to see what’s possible and where you stand. However, there are other factors to consider, as we mentioned above.
But not everything is about money and your compensation. Consider the following when thinking about your specialty:
- Job satisfaction
- Work/life balance
- Long-term career satisfaction
- Burnout potential
- Impact on others
Keeping these in mind can give you a well-rounded view of your salary and career.
Check your financial vital signs with a financial specialist
Whether you see your physician salary by specialty on the list or not, you’re likely dealing with a higher-than-average income than most others. Earning a lot means managing more, and you want to put your money in the right place. Get a financial check-up and reach out to SLP Wealth to help manage your money.
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