Choosing a medical specialty is one of the most important decisions for physicians. It’s not just about the passion for the field but also about long-term goals, lifestyle, and—of course—salary. In the U.S., some specialties command much higher salaries than others, and today, we’re diving into the top-paying specialties. Whether you’re a medical student, a resident, or someone curious about doctor earnings, this post is for you! 🩺
In this blog, we’ll cover the highest-paying Physician Salaries by specialties per hour, highlighting fields like Plastic Surgery, Cardiology, and Radiology, and throw in a few more that just missed the top ranks. Stick around for some surprising insights at the end! 👇
Table of Contents
- Top 10 Highest-Paying Medical Specialties
- The Role of Hours Worked
- Spotlight on Plastic Surgery
- Why Cardiology Is So Competitive
- Specialties That Just Missed the Top 10
- FAQs
1. Top 10 Highest-Paying Medical Specialties 💼💰
Here are the top 10 highest-paying medical specialties based on hourly rates. Each professional earns more than $200 per hour, and some make over $300! Additionally, we’ve included the chance of failing to match into these specialties (aka the unmatch rate), which serves as a good indicator of how competitive each field is.
here we collected NRMP match data, Doximity salary data, and Medscape survey data to provide a complete picture of compensation in physician salaries.
1. Neurosurgery Salary – $334/hour
- Annual compensation: $783,398
- Average hours worked per year: 2,583 hours
- Unmatch rate: 27.1% for U.S. MD seniors
- Neurosurgeons top the list with the highest hourly wage. This specialty is extremely competitive due to its high pay and intense demands.
2. Plastic Surgery Salary – $258.78/hour
- Annual compensation: $611,981
- Average hours worked per year: 2,395 hours
- Unmatch rate: 22% for U.S. MD seniors
- Plastic surgeons enjoy one of the highest hourly rates with relatively fewer hours. Despite its high compensation, it’s slightly less competitive than neurosurgery.
3. Orthopedic Surgery Salary – $258.43/hour
- Annual compensation: $654,485
- Average hours worked per year: 2,534 hours
- Unmatch rate: 23.1% for U.S. MD seniors
- Orthopedic surgery is known for its substantial income and tough competition to match into the field.
4. Thoracic Surgery Salary – $257.22/hour
- Annual compensation: $723,374
- Average hours worked per year: 2,841 hours
- Unmatch rate: 40% (fellowship match data)
- Thoracic surgery has the highest unmatch rate, making it the most competitive specialty to break into.
5. Radiation Oncology Salary – $250/hour
- Annual compensation: $569,170
- Average hours worked per year: 2,276 hours
- Unmatch rate: 0% for U.S. MD seniors
- Despite its high pay, radiation oncology has one of the lowest unmatch rates, making it less competitive compared to other high-paying specialties.
6. Dermatology Salary – $202/hour
- Annual compensation: $493,500
- Average hours worked per year: 2,244 hours
- Unmatch rate: 22.1% for U.S. MD seniors
- Dermatology is highly competitive due to its excellent work-life balance and high earnings. Many physicians consider it a “lifestyle specialty.”
7. Radiology Salary – $223.45/hour
- Annual compensation: $531,983
- Average hours worked per year: 2,380 hours
- Unmatch rate: 7.8% for U.S. MD seniors
- Radiology offers excellent compensation and relatively lower competition, making it a popular choice for many aspiring physicians.
8. Cardiology Salary – $225/hour
- Annual compensation: $565,545
- Average hours worked per year: 2,622 hours
- Unmatch rate: 32.3% (fellowship match data)
- Cardiology is one of the most competitive specialties due to its long hours, high pay, and critical role in healthcare.
9. Ophthalmology Salary – $212/hour
- Annual compensation: $468,000
- Average hours worked per year: 2,200 hours
- Unmatch rate: 25% for U.S. MD seniors
- Ophthalmology strikes a balance between work hours and pay, but it’s still quite competitive to get into.
10. Otolaryngology Salary (ENT) – $207/hour
- Annual compensation: $524,300
- Average hours worked per year: 2,426 hours
- Unmatch rate: 16.2% for U.S. MD seniors
- ENT specialists make a competitive hourly wage while working fewer hours, making it a desirable and moderately competitive field.
2. The Role of Hours Worked
When it comes to physician salaries, it’s important to understand that hours worked per year significantly impact the final annual compensation. For instance, while cardiologists and plastic surgeons earn similar hourly rates, the number of hours they work each year causes a difference in their overall income.
Here are a few things to consider:
- More hours worked generally means a higher total annual salary, even if the hourly rate is lower.
- Lifestyle matters: Some physicians prioritize fewer hours and more personal time, which can affect their specialty choice.
3. Spotlight on Plastic Surgery
Plastic surgery is one of the most talked-about specialties, not just for its high compensation but also for its balance of hours. With an average hourly wage of $258.78 and a reasonable number of hours worked per year (2,395), plastic surgery is a sought-after field that offers both financial rewards and a manageable work-life balance.
Despite its competitive nature, plastic surgery’s 22% unmatch rate suggests that while difficult, it’s not as impossible to match into as neurosurgery or thoracic surgery.
4. Why Cardiology Is So Competitive
Cardiology consistently ranks as one of the most competitive medical specialties. With an average salary of $565,545 and an hourly wage of $225, it’s easy to see why. However, cardiologists work a hefty 2,622 hours annually, which is one of the highest among top-paying specialties.
Cardiology’s 32.3% unmatch rate highlights how challenging it is to secure a spot in this field, reflecting the high demand and importance of this specialty.
5. Specialties That Just Missed the Top 10
While the following specialties didn’t make the top 10 for hourly wages, they’re still highly lucrative and worthy of consideration:
1. Gastroenterology – $243/hour
- Annual compensation: $546,308
- Average hours worked per year: 2,510 hours
- Unmatch rate: 33.9% (fellowship match data)
2. Oncology – $227/hour
- Annual compensation: $479,754
- Average hours worked per year: 2,110 hours
- Unmatch rate: 20% (fellowship match data)
3. Urology – $215/hour
- Annual compensation: $529,000
- Average hours worked per year: 2,456 hours
- Unmatch rate: 13.3% for U.S. MD seniors
These specialties offer excellent compensation but may require long hours and additional years of fellowship after medical school.
FAQs
1. What is the highest-paying medical specialty?
- Neurosurgery is the highest-paying specialty, with an hourly rate of $334 and an annual compensation of $783,398. However, it’s also extremely competitive, with a 27.1% unmatch rate.
2. Why do cardiologists work so many hours?
- Cardiologists manage life-threatening conditions, which often requires long hours, including emergency calls. This leads to an above-average workload compared to other specialties. It’s also one of the most competitive, with a 32.3% unmatch rate.
3. What factors influence a physician’s salary?
- Factors include specialty, hours worked per year, geographic location, and demand for specific medical services. The competitiveness of the field also plays a big role.
4. Is plastic surgery a good specialty for work-life balance?
- Yes, plastic surgeons earn a high hourly rate while working relatively fewer hours than other top-earning specialties, offering a better work-life balance.
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