Quick Answer: What Doctors Make The Most Money In 2020?

Who are the lowest paid doctors?

Here are the five medical specialties with the lowest average annual salary in 2017.Pediatric infectious disease — $191,735.Pediatric hematology and oncology — $208,524.Pediatric endocrinology — $214,911.Pediatrics — $221,900.Preventive medicine — $231,838..

What is the richest type of doctor?

General practitioners, including family doctors and pediatricians, are among the highest-paid doctors. Dentists, orthodontists, and prosthodontists also have high salaries. Anesthesiologists are paid more than any other type of doctor.

What is the hardest medical specialty?

Residency Match: The 7 most competitive medical specialtiesIntegrated interventional radiology. Percentage of positions filled by U.S. senior medical school graduates: 95.5 percent. … Orthopedic surgery. Percentage of positions filled by U.S. seniors: 93.1 percent. … Integrated plastic surgery. … Radiation oncology. … Neurological surgery. … Otolaryngology. … Thoracic surgery.

At what age do doctors start making money?

Assuming you do everything right and you get into med school at 22, you’ll graduate at 26. Then you start residency. The shortest residency is 3 years. So you can start earning “money” at 29.

Are doctors millionaires?

Fifty-six percent of professional self-made millionaires in my study were doctors. Surgeons and scientists earned the most money and were the wealthiest, according to my data. Next up were lawyers, then engineers, then financial planners.

Are doctors rich?

Most doctors, though, have a negative net worth until a few years into practice. A few years into practice, many doctors are able to pay down some of their student debt, build up some money in retirement accounts, and likely have a little bit of equity in a house.

Which medical career pays the most?

The 10 highest-paying health care jobsPhysicians and surgeons. What you’d do: Physicians and surgeons are the highest-earning professionals in the health care world. … Dentists. … Pharmacists. … Podiatrists. … Nurse anesthetists, nurse midwives, and nurse practitioners. … Optometrists. … Physician assistants. … Veterinarians.More items…

How much money do doctors retire with?

A common rule-of-thumb is to accumulate enough to withdraw 70 to 80 percent of your pre-retirement income annually. So if you earn $100,000 a year just before you retire, you want the ability to withdraw $70,000 to $80,000. That means living 25 years in retirement would require $1.75M to $2M in total assets.

Is being a doctor worth the money?

While some may think they would have been better off pursuing another profession, scores of doctors are incredibly happy they chose a career in medicine. “Taking into account all the pros and cons, becoming a doctor was ultimately worth it to me,” Dr. Odugbesan reflects. “I would go to medical school all over again.”

How much money do doctors make 2020?

Prior to the pandemic, physician salaries in 2020 continued to grow. PCPs (primary care physicians) reported earning an average salary of $243,000, compared to $237,000 in 2019, while specialists earned an average of $346,000, compared to $341,000 in 2019.

Who is the highest paid surgeon?

Highest paying medical specialties in 2019RankSpecialtyAverage compensation1Neurosurgery$616,8232Thoracic surgery$584,2873Orthopedic surgery$526,3854Radiation oncology$486,0896 more rows•Jan 8, 2020