Here are eight numbers to know about young physicians in 2023, according to Medscape's 2023 "Young Physician Compensation Report."
The report, which was released Sept. 26 and surveyed 10,011 participants across more than 29 specialties between October 2022 and January 2023, defined "young physicians" as those 40 and younger.
- Young physicians earn an average of $326,000 annually.
- A total of 48% percent of young physicians are women, compared to 36% of those older than 40.
- Young male physicians make more than their female counterparts, earning $363,000 and $288,000 annually, respectively.
- Young physician compensation is rising the most in the western part of the U.S., at 17%.
- A total of 16% of young physicians experienced income decline.
- A total of 85% of young physicians work for an employer.
- A total of 15% of young physicians are self-employed.
- Young physicians average $51,000 in incentive bonuses annually.