For physicians, median salaries vary significantly, depending on factors including experience and the region in which they work, according to Physicians Thrive's "2023 Physician Compensation Report."
Physicians Thrive, a financial advisory group, compiled data from more than 12 sources, including Doximity, the Bureau of Labor Statistics and Merritt Hawkins, for the report.
The report showed the median salary earned among four high-paying specialties — cardiology, orthopedics, neurosurgery and urology — in four regions of the U.S.: the East, Midwest, South and West.
To determine which region has the highest average pay, here is the mean salary among those four specialties in each region:
1. Midwest: $710,250
2. South: $686,000
3. West: $664,000
4. East: $610,000
On average, the pay for physicians on the East Coast is the lowest among the four regions. Physicians Thrive attributed this to the higher concentrations of experienced physicians in the area.