Gastroenterologist compensation has continued to rise in the last several years, while burnout has declined. Here are 10 notes on the GI workforce in 2024:
1. The average sign-on bonuses for gastroenterologists were the highest among the top five most requested specialties and advanced practice providers in 2024. Gastroenterologists who were offered sign-on bonuses were offered an average of $46,040. The range for GI sign-on bonuses was $15,000 to $100,000.
2. Approximately 31% of gastroenterologists have a net worth of over $5 million in 2024.
3. As of October 2023, around 10% of gastroenterology physicians are a part of a private equity-backed platform.
4. Self-employed gastroenterologists earn more than employed. Median compensation for gastroenterologists working at hospital-owned groups or MSOs increased 4%, compared to a 15% increase for those at physician-owned groups, according to the Healthcare Appraiser report.
5. Gastroenterologists are the 11th highest paid physician specialists in 2024, with an average yearly salary of $514,208, according to Doximity's 2024 "Physician Compensation Report."
6. Pediatric gastroenterologists are one of the lowest paid specialties, earning an average of $286,307 annually.
7. GI specialists have one of the largest pay gaps between men and women, coming in at over $80,000 annually. While male gastroenterologists earn an average of $525,931 annually, female gastroenterologists trail with $444,511 per year.
8. Over half (55%) of gastroenterologists would take a cut in their annual salaries to be able to maintain a better work-life balance.
9. GI pay increased 10.6% between 2022 and 2023.
10. Gastroenterologist burnout has declined 2% in the last year, according to Medscape's 2024 "Physician Burnout and Depression Report."