2020 Physician Compensation Report
This physician salary and compensation report was compiled by Physicians Thrive in 2020.
As a physician, it is important to know the average salary for your specialty. The average salary helps to assess your fair market value.
Beyond salary, it is crucial to understand how potential employers determine compensation. Some facilities base compensation on experience or specific skills while others base their pay on productivity.
Research salary and compensation trend to come up with a fair set of expectations to bring to the table when negotiating with potential employers.
Median Salary by Specialty, Ranked Highest to Lowest:
AVERAGE SIGNING BONUS BY SPECIALTY:
- All physicians: $32,692
(down from $33,707 last year) - Neurosurgeons: $47,500
- Orthopedic Surgeons: $40,000
- OB/GYNs: $30,115
- Internal Medicine: $29,308
- Radiology: $27,045
- Family Practice: $26,071
- Anesthesiologist: $25,650
- Cardiology Non-Invasive: $25,000
- Hematologist/Oncologist: $25,000
- Pulmonologist: $25,000
- Otolaryngologist: $23,425
- Psychiatry: $22,955
- Cardiology Invasive: $20,000
- Emergency Medicine: $20,000
- Dermatologist: $17,372
HOW PHYSICIANS ARE EARNING BONUSES:
- 70% of all physicians earned a signing
bonus (down from 75% in 2017/2018) - 70% of physicians earned RVU based
bonuses (up from 50% in 2017/2018) - 56% of physicians earned bonuses
based on quality of care - 18% of physicians earned bonuses
based on net collections - 9% of physicians earned bonuses
based on patient encounters - 3% of physicians earned bonuses
based on gross billings