How much doctors make depends on their specialty and location. Surgical specialists make more than family practice physicians. And doctors in Chicago make more than the ones in Camden, Alabama.
Doctors invest a huge amount of money in their education, which involves many years of schooling and training. The average doctor going into practice today has an education debt of $140,000. And there are significant personal sacrifices on their part.
According to the latest compensation survey by the American Medical Group Association, the following are the rounded average earnings of each specialty:
Family Medicine $209,000
Pediatrics & Adolescent $210,000
Internal Medicine $214,000
Obstetrics & Gynecology $254,000
Plastic Surgery $390,000
Orthopedic Surgery $501,000
Cardiac & Thoracic Surgery $533,000
While the above earnings may appear high, few people see the hours and stress associated with the job. Physicians spend most of their time treating patients away from their own families and are often in life or death situations.
Stop and think of where we would be without America’s army of highly trained physicians. We certainly would not have the life expectancy that we currently enjoy. Doctors serve as knowledgeable consultants in maintaining our personal health. Doctors are trusted with information that many patients share only with their physician. For many, their doctor is the most trusted person in their lives outside of family.
And doctor’s earnings pale in comparison to some corporate executives. Here in Alabama, the CEO of Regions Bank, Grayson Hall, earns over $4 million per year. This seems particularly egregious in a bank that has posted a net loss for each of the last 3 years.