Does a OBGYN make more money than Pediatrician?
The earnings potential of an OB-GYN and a pediatrician can vary depending on several factors such as location, experience, and specialty. There are some broad trends and estimates that can provide some insight into the difference in earnings between these two specialties:
1. Median Salary: According to the Medscape's Physician Compensation Report of 2020, the median compensation for OB-GYNs was $293,000, while the median compensation for pediatricians was $230,000.
2. Hourly Rates: OB-GYNs typically have a higher hourly rate due to the nature of the procedures and surgeries they perform. OB-GYNs may earn a higher hourly rate for on-call hours and delivery services.
3. Location: The location where an OB-GYN or a pediatrician practices can also influence their earnings. Areas with a high cost of living, such as major metropolitan areas, tend to have higher physician salaries compared to rural areas.
4. Experience: With experience and additional training, both OB-GYNs and pediatricians may see an increase in their earnings over time. Senior OB-GYNs with sub-specializations or those who own their own practice may earn even more.
5. Malpractice Insurance: OB-GYNs may have higher malpractice insurance costs due to the inherent risks associated with their specialty, potentially affecting their net income.
It is important to note that these figures are estimates, and actual earnings can vary significantly based on individual circumstances. Other factors such as professional reputation, practice type, and patient population can also influence a physician's income potential.