How much money do doctors get paid?

The income of a doctor can vary significantly depending on factors such as specialty, geographical location, years of experience, and type of practice. In general, higher-paying medical specialties include plastic surgery, dermatology, and orthodontics, while lower-paying specialties include pediatrics, family medicine, and internal medicine.

According to the U.S. Bureau of Labor Statistics, the median annual wage for physicians and surgeons was $208,000 in May 2020. The top 10% of earners in this occupation made more than $342,750, while the bottom 10% earned less than $63,150.

In terms of geographical location, the highest-paying states for physicians and surgeons in May 2020 were California, Massachusetts, New Jersey, Connecticut, and New York. The lowest-paying states were Mississippi, Arkansas, Oklahoma, Alabama, and Nevada.

Years of experience also play a role in determining a doctor's salary. Generally, the more experience a doctor has, the higher their income. For example, a physician with 10 years of experience could earn up to 20% more than a physician with only one year of experience.

The type of practice can also affect a doctor's salary. Private practice doctors tend to earn higher salaries than employed physicians. This is because private practice doctors typically generate their own income from patient visits and procedures, while employed physicians earn a set salary from their employer.

Overall, doctors can earn a wide range of incomes, depending on their specialty, geographical location, years of experience, and type of practice.