Sixty-two percent of young physicians are paying a mortgage on a primary residence, according to Medscape's "Young Physician Compensation Report 2022."
Medscape surveyed 2,000 physicians under 40 from Oct. 5 to Jan. 19 on their salary, incentives and other measures.
Here are the debts and expenses for young physicians:
- Mortgage on primary residence: 62 percent
- Your own college or medical school loan: 51 percent
- Car loan: 37 percent
- Childcare: 24 percent
- Credit card debt: 19 percent
- Your spouse/significant other's college, medical school or graduate school loans: 17 percent
- Car lease: 16 percent
- Medical expenses for yourself or loved one: 10 percent
- Private school tuition for child: 10 percent
- Mortgage on second home: 8 percent
- Business loan: 2 percent
- College tuition for child/children: 2 percent
- Graduate school tuition for child/children: 1 percent
- Alimony: 1 percent
- Other: 2 percent
- None: 9 percent