More than 50% of physicians would be willing to take less pay in exchange for better work-life balance, according to Medscape's "Physician Lifestyle and Happiness Report 2024," published Feb. 13.
Fifty-four percent of physicians surveyed said they would take a pay cut, which is similar to the results from Medscape's surveys of the past two years, when 53% and 55% of respondents were willing to trade compensation for more balance.
The topic of trading pay for work-life balance is not only prevalent among physicians. According to job search platform the Muse, 83% of American workers would take a slightly lower paying job for "measurably better" work-life balance. Bankrate.com, a financial information provider, said that 10% of full-time workers would accept a pay cut for a four-day work week.