How Much Do Doctors Make 2026? Average $350K—but ranges from $234K (pediatrics) to $788K (neurosurgery). Salary data by specialty, location, experience + hourly rates.
How Much Do Doctors Make? Complete 2026 Salary Guide
Published: January 24, 2026 | Category: Physician Salaries | Reading Time: 14 minutes
Key Takeaways: Doctor Salaries in 2026
Average Physician Salary: $350,000 (all specialties)
Primary Care Range: $234,000 - $285,000
Specialist Range: $300,000 - $550,000
Surgical Specialist Range: $450,000 - $800,000+
Resident Salary: $63,000 - $85,000 (PGY1-PGY7)
The Short Answer: Doctor Salaries Vary Dramatically
How much doctors make depends primarily on their specialty. A pediatrician earns around $234,000 while a neurosurgeon earns $788,000—a difference of over $550,000 per year for the same "doctor" title.
Other factors affecting physician income include:
Geographic location
Years of experience
Practice setting (private practice vs. employed)
Academic vs. clinical focus
Call and schedule demands
Doctor Salaries by Specialty Category
Primary Care Physicians
Primary care doctors provide general medical care and often serve as patients' first point of contact.
Specialty | Average Salary | Salary Range |
|---|---|---|
$285,000 | $220,000 - $380,000 | |
$258,000 | $200,000 - $350,000 | |
$234,000 | $180,000 - $320,000 |
Medical Specialists
Specialists focus on specific body systems or conditions and typically complete additional fellowship training.
Specialty | Average Salary | Salary Range |
|---|---|---|
$510,000 | $350,000 - $900,000 | |
$549,000 | $380,000 - $800,000 | |
$498,000 | $300,000 - $800,000 | |
$412,000 | $300,000 - $550,000 | |
$377,000 | $280,000 - $520,000 | |
$325,000 | $250,000 - $450,000 | |
$315,000 | $220,000 - $450,000 |
Surgeons
Surgeons perform operations and typically have the highest physician salaries.
Specialty | Average Salary | Salary Range |
|---|---|---|
$788,000 | $550,000 - $1,200,000+ | |
$703,000 | $450,000 - $1,100,000+ | |
$619,000 | $350,000 - $1,000,000+ | |
$515,000 | $350,000 - $750,000 | |
$453,000 | $320,000 - $650,000 |
Hospital-Based Specialties
Specialty | Average Salary | Salary Range |
|---|---|---|
$483,000 | $350,000 - $650,000 | |
$465,000 | $350,000 - $600,000 | |
$378,000 | $280,000 - $500,000 | |
Hospital Medicine | $325,000 | $260,000 - $420,000 |
$310,000 | $240,000 - $400,000 |
Doctor Salaries by Experience Level
Residents (Doctors in Training)
After medical school, doctors complete 3-7 years of residency training at relatively low pay:
Training Year | Average Salary |
|---|---|
PGY-1 (Intern) | $63,000 |
PGY-2 | $65,000 |
PGY-3 | $68,000 |
PGY-4 | $71,000 |
PGY-5 | $74,000 |
PGY-6+ | $77,000 - $85,000 |
Fellow Salary
Subspecialty fellows (after residency) earn $70,000-$90,000 during their additional 1-3 years of training.
New Attending Physicians (0-3 Years Experience)
First "real" physician salaries vary significantly by specialty:
Primary Care: $220,000 - $260,000 starting
Hospitalist: $280,000 - $320,000 starting
Medical Specialists: $300,000 - $450,000 starting
Surgical Specialists: $400,000 - $600,000 starting
Experienced Physicians (10+ Years)
Experienced physicians typically earn 20-40% more than new graduates in the same specialty, particularly in private practice where building a patient base increases income.
Doctor Salaries by Location
Geographic location significantly impacts physician compensation.
Highest Paying States
Rural states: Often pay 20-40% premiums to attract physicians
Midwest: Generally higher than coastal cities
No income tax states: Texas, Florida, Nevada—higher take-home pay
Lower Paying Areas
Major metropolitan areas: Higher supply of physicians
Academic medical centers: Trade salary for prestige/research
High cost-of-living cities: Higher gross but lower adjusted income
Compare salaries by state:
Doctor Salaries by Practice Setting
Private Practice
Compensation: Highest earning potential, especially with partnership/ownership
Risk: Income depends on practice success
Benefits: Must fund own retirement, insurance
Hospital Employed
Compensation: Typically 10-20% less than private practice
Stability: Guaranteed salary, benefits package
Benefits: Retirement match, malpractice coverage, CME allowance
Academic Medicine
Compensation: Generally 20-40% below clinical positions
Trade-offs: Research opportunities, prestige, teaching
Benefits: Often excellent retirement and sabbatical programs
How Much Do Doctors Make Per Hour?
Converting annual salaries to hourly rates reveals interesting comparisons:
Specialty | Annual Salary | Typical Hours/Week | Effective Hourly |
|---|---|---|---|
$498,000 | 40-45 | $213-$240/hr | |
$703,000 | 55-65 | $208-$246/hr | |
$378,000 | 36-42 | $173-$202/hr | |
$465,000 | 50-55 | $163-$179/hr | |
$258,000 | 45-50 | $99-$110/hr |
Doctor Income vs. Other Professions
How does physician compensation compare to other high-paying careers?
Profession | Average Income | Education Required |
|---|---|---|
Physician (average) | $350,000 | 11-16 years post-high school |
Dentist | $180,000 | 8 years post-high school |
Lawyer (partner) | $250,000+ | 7 years post-high school |
Software Engineer (Senior) | $200,000+ | 4 years post-high school |
Investment Banker | $200,000+ | 4-6 years post-high school |
While physicians earn well, the delayed start (training into early 30s), significant debt ($200,000+), and long hours mean lifetime earnings may not be as advantageous as they first appear compared to other high-earning professions.
Factors That Increase Doctor Salaries
Subspecialization: Interventional cardiologists earn more than general cardiologists
Procedures: Procedural work is better compensated than cognitive services
Practice ownership: Partners/owners typically earn more than employed physicians
Ancillaries: Owning surgery centers, labs, or imaging increases income
Geographic flexibility: Willingness to work in underserved areas commands premium
Negotiation skills: Learn how to negotiate your physician contract
Frequently Asked Questions
What is the lowest paid doctor specialty?
Pediatrics is typically the lowest-paid physician specialty, with an average salary of $234,000. Pediatric subspecialists earn more, with pediatric cardiologists and pediatric surgeons earning $350,000-$500,000+.
What is the highest paid doctor specialty?
Neurosurgery is the highest-paid specialty at $788,000 average, followed by orthopedic surgery ($703,000) and plastic surgery ($619,000). See our complete ranking of the highest paid physician specialties.
How much do doctors make after taxes?
Physicians in high-earning specialties can pay 35-45%+ of income in combined federal, state, and local taxes. A physician earning $500,000 might take home $275,000-$325,000 after taxes, depending on location and tax planning strategies. Learn about tax strategies for physicians.
Is becoming a doctor worth it financially?
Despite high debt and delayed earning, physicians still earn significantly above average lifetime income. However, financial success requires smart planning around student loan repayment, financial planning, and avoiding lifestyle inflation.
Explore Real Physician Salary Data
SalaryDr provides real compensation data reported by physicians. Compare your salary or explore opportunities:
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Salary data based on physician-reported compensation on SalaryDr. Individual salaries vary based on location, experience, practice setting, and other factors. Data current as of January 2026.
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