As time goes on, pay tends to fluctuate, regardless of what field you’re in. In the healthcare setting, salaries have always varied greatly from specialty to specialty, and that hasn’t changed. The following information is based on over 2,600 job search engagements conducted by physicians and advanced practitioners between April 1, 2021 and March 31, 2022.

Overall, pay increases ranged from 0.4% to 10.3%.

OB/GYN pay increased by 10.3%, going from $291,000 to $321,000
Anesthesiology pay increased by 9%, from $367,000 to $400,000
Non-invasive Cardiology pay increased 8.5%, up to $484,000 from $446,000
Neurology pay increased 7.3%, from $332,000 to $356,000
Gastroenterology pay increased by 4.6%, from $453,000 to $474,000
Orthopedic Surgery pay saw a 3.5% increase, going from $546,000 to $565,000
Urology pay increased by 2.6%, going from $497,000 to $510,000
Internal Medicine pay increased by 0.4%, from $255,000 to $256,000

Pay decreases ranged from 1.7% to 13.7%.

Interventional Cardiology pay decreased by 13.7%, going down to $527,000 from $611,000
Hematology pay decreased by 5.2%, going from $426,000 to $404,000
Radiology decreased by 2.1%, going from $465,000 to $455,000
Pediatrics pay decreased by 1.7%, going from $236,000 to $232,000

Those who experienced a pay decrease are looking to reduce their expenses. The “Physician Wealth & Debt Report” from Medscape contains data from over 13,000 physicians across 29 specialties. The physicians that were surveyed gave the following answers about reducing their big expenses:

  • 70% said they haven’t done anything major to reduce expenses
  • 16% deferred or refinanced their loans
  • 7% gave an “other” answer
  • 6% moved to a different home
  • 5% switched cars
  • 2% moved their child(ren) to a different school

It can be difficult to go into the medical field with hopes for high earnings and then find out that your pay is being cut. This is why it’s important to be frugal with your money, at least when you start your career. You never know when something could happen that will cause a need for you to change your lifestyle.

If you have further information you’d like to share with us about salary changes or how you, as a healthcare professional, have reduced your expenses, feel free to reach out to us! You can email us at information@practicematch.com.

Crystal Carter

Crystal Carter, Marketing Specialist

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