Medscape collected an array of statistics on young physician compensation in its Young Physician Compensation Report 2020.
Medscape surveyed 17,461 physicians across 30-plus specialties.
Here are 18 statistics on physicians under 40 years old:
1. Primary care physicians earned $198,000, while specialty care physicians earned $302,000.
2. Physicians received an annual incentive bonus of $19,000 and an average base salary of $237,000.
3. There were more male physicians (56 percent) than female physicians (42 percent).
4. Younger physicians were more likely to be employed (82 percent) than self-employed (14 percent).
5. Physician compensation by practice space:
- Office-based single-specialty group practice: $289,000
- Office-based multispecialty group practice: $274,000
- Hospital: $279,000
- Healthcare organization: $257,000
- Outpatient clinic: $199,000
- Academic (nonhospital), research, military, government: $259,000
6. Physicians participating in the Merit-based Incentive Payment System and alternative payment models:
- MIPS: 42 percent
- APMs: 12 percent
7. More young physicians would choose medicine again (76 percent) than not (24 percent).