Study Finds Early Career Physician Pay Increased October 2, 2023

Pay for early career physicians rose in 2022, according to a Medscape report on physicians under age 40.  Physicians under 40, or early career physicians, saw average total compensation jump 11% in 2022, outpacing the increase for older physicians. Notably, primary care physicians saw a jump of 20% on average.  Although average compensation rose, some (16%) respondents saw their income drop.

There were notable findings related to gender in the survey. Among the early career physician population, women physicians made up just about half of the population. By contrast, male physicians accounted for approximately two-thirds of the population over 40. When evaluating career advancement, male physicians under 40 were more than twice as likely to report seeking promotion than their female counterparts.

Following a years-long trend, a large majority of early career physicians are not self-employed. The report found 87% are employed by a hospital, healthcare organization, large group practice, clinic, or other medical group. The highest pay was seen in office-based single-specialty group practices.