Physicians are some of the highest-paid workers in the U.S., but as inflation continues to rise and the cost of living climbs, how far does that go?
Earning enough to live comfortably is a significant source of stress for workers in all industries.
Here is how the average annual salaries in 20 metropolitan areas where physicians are paid the most — and least — compares to the cost of living in each area, using salary data from Doximity's "Physician Compensation Report" for 2023 and the required annual income needed to provide for one adult using the Massachusetts Institute of Technology's Living Wage Calculator.
Ten highest-paying metropolitan areas for physicians:
|
Metro area |
Average physician salary |
Cost of living |
|
Charlotte, N.C. |
$430,980 |
$36,446 |
|
St. Louis |
$426,370 |
$33,244 |
|
Oklahoma City |
$425,096 |
$32,981 |
|
San Jose, Calif. |
$418,600 |
$54,498 |
|
Minneapolis |
$411,677 |
$36,798 |
|
Sacramento, Calif. |
$411,257 |
$39,641 |
|
Phoenix |
$409,185 |
$38,043 |
|
Indianapolis |
$408,199 |
$33,258 |
|
Salt Lake City |
$408,044 |
$37,038 |
|
Atlanta |
$407,863 |
$39,375 |
Ten lowest-paying metropolitan areas:
|
Metro area |
Average physician salary |
Cost of living |
|
Washington, D.C. |
$342,139 |
$45,082 |
|
Baltimore |
$346,260 |
$37,044 |
|
Boston |
$347,553 |
$46,993 |
|
San Antonio |
$347,692 |
$33,699 |
|
Raleigh, N.C. |
$351,732 |
$38,084 |
|
Providence, R.I. |
$354,342 |
$36,158 |
|
Virginia Beach, Va. |
$354,587 |
$37,477 |
|
Denver |
$357,010 |
$41,626 |
|
Philadelphia |
$358,443 |
$36,087 |
|
Birmingham, Ala. |
$361,483 |
$34,420 |