Wages and job satisfaction in medicine: Is there a correlation?

The number of physicians who would choose the same specialty again was down in 2023 as compared to 2022 on average, according to data from Medscape's 2022 and 2023 physician compensation reports. 

Meanwhile, wages for the majority of specialties were on the rise in 2023 as compared to a year earlier. 

However, rising wages do not seem to be correlated with higher satisfaction rates. 

For gastroenterology, the specialty with the largest rise in wages, satisfaction still shrunk by 3 percentage points. Three specialties that saw a drop in wages also saw a drop in satisfaction. 

Ten specialties' wage, satisfaction changes from 2022 to 2023: 

Gastroenterologists

Wage change: +11 percent

Change in percentage of specialists who would choose the same specialty again: -3 percentage points

Anesthesiologists

Wage change: +10 percent

Change in percentage of specialists who would choose the same specialty again: +1 percentage points

Neurologists

Wage change: + 4 percent

Change in percentage of specialists who would choose the same specialty again: -8 percentage points

Cardiologists

Wage change: +4 percent

Change in percentage of specialists who would choose the same specialty again: +5 percentage points

Orthopedic surgeons 

Wage change: +3 percent

Change in percentage of specialists who would choose the same specialty again: -2 percentage points

General surgeons 

Wage change: +2 percent

Change in percentage of specialists who would choose the same specialty again: -4 percentage points

Dermatologists 

Wage change: +1 percent

Change in percentage of specialists who would choose the same specialty again: -9 percentage points

Rheumatologists

Wage change: -3 percent

Change in percentage of specialists who would choose the same specialty again: -8 percentage points 

Immunologists 

Wage change: -5 percent

Change in percentage of specialists who would choose the same specialty again: -7 percentage points

Ophthalmologists

Wage change: -7 percent

Change in percentage of specialists who would choose the same specialty again: -2 percentage points

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