 So have you ever been interested in knowing exactly how much a doctor makes? Well, in this video, we're going to break down how much a doctor makes on average. Who makes the most? Who makes the least? And on top of that, we'll break down exactly how much a doctor makes per average. And I will also give you my salary. So stay tuned. Let's get it done. All right, guys. Welcome to the AMD journey, a channel completely dedicated to help students succeed on their journey with less stress. My name is Lux. I'm an internal medicine physician and resident in training. I've been making videos just like this and we put out two videos per week. So if you're interested, go ahead and hit that like button. And subscribe button and join the community. But today we are talking about money and specifically we are talking about how much physicians make, who makes the most, who makes the least. And if you stay tuned to the end, I'm going to break down exactly how much a doctor makes per hour. And I'll also give you my salary. So stay tuned. So the average salary of a physician is going to depend on a lot of different factors, including what you do and where you do it. But if you take the average based off of the medscape compensation report, this is basically physicians indicating how much they make in 2019. The average comes out to about three hundred and thirteen thousand dollars. Now, the number itself has a lot of variability. In fact, if you split it based off of individuals who are primary care physicians or PCPs and you compare it to individuals who are special as people like your cardiologist or surgeons, individuals who may do a lot of procedures, then it can be a huge discrepancy. In fact, if you compare the average salary for a PCP, it's about two hundred and thirty seven thousand dollars in 2019 compared to a specialist and they can go as high as about three hundred and forty one thousand on average. So there's a huge discrepancy. But let's take it one more step further. How much does each specialty in medicine make? Who makes the most and who makes the least? And again, if you look at the same medscape compensation, you find that usually the top individuals who are making the most money are in very procedural based specialties. These are individuals that have to do very specific training, work with their hands, do a lot of things such as surgeries, operations, placing stents. In fact, if we look at the top of the total poll, we will find that the highest earning physicians are in specialties such as orthopedics, plastic surgery, ENT, cardiology and dermatology. Physicians who are in specialties such as orthopedic surgery can make a salary as high as an average of four hundred and eighty two thousand dollars a year. And the reason for such a big discrepancy between the different specialties and their salaries has to do with a few things. One of those things is simply the amount of training and how specialized you are. So, for example, an individual in orthopedic surgery or neurosurgery is going to require a lot more years of training. And they're also in very invasive field. These are individuals that are doing operations and procedures on a daily basis. Those also tend to bring in more revenue from both hospitals as well as the physician. And the last thing to point out is there can be a lot of inter-specialty variability. So, for example, if you look at a specialty like cardiology where the average is four hundred and thirty thousand dollars, there's a huge range and that's primarily run by the fact that there's individuals who do procedures that are more invasive. For example, if you have a heart attack or if you have a blockage of any of your major coronary or heart vessels, you may have to have a stent place. That is a very invasive procedure compared to a cardiologist who you may see in the clinic will be evaluated in the hospital. So there can be a lot of variability even between two cardiologists. And so you can have two cardiologists and see a huge variability in their salaries. And one of the primary reasons may be that one of them does procedures with the other one, you know, so now that we know what average salary of a physician is, I also want to show you how the salary can depend based off of where you live. So what I'm showing you here is a salary map for specific specialty throughout the various parts of the country in the United States. Now, this is a salary map that's done through Dox70.com, which is an organization and a website made specifically for physicians and health care providers. But through the process, physicians throughout the country on Dox70.com can also report their income as well as a region of the country that they're living in. So you as a potential candidate or somebody who may be trying to move could see how much you potentially would be making or not making depending on your geographic preferences. So for example, let's go back to our example about cardiology. And you can see that if you choose to live in some locations that are a little bit more popular, such as the West Coast, if you choose to live in the city of San Francisco, for example, you'd be making about a little north of $402,000, which is obviously a very great salary. You could also make, you know, much more if you choose to be in the Midwest or areas that are much more rural. So here you are $423,000. And I'm sure if you play around with it, you may be able to get even higher numbers. And we can do the same thing with a more procedural heavy specialty like orthopedic surgery, where somewhere as popular as maybe Austin, Texas, you may be making $482,000, which is about the average that we saw earlier. In other places, you may be making, you know, in the $500,000 range. And so it just, again, depends on the demand, how rural or how busy of an urban center you may be going into, where competition may be more. So there's a lot that goes into the potential salary a physician could make. This is a nice way to give you an average on specifically based off of where in the country you choose to live. As you can easily see, there's a lot that goes into figuring out how much a doctor makes. You know, we've already talked about a few of them. You know, what specialty you're in, specifically if you're doing procedures within the specialty, as well as your geographic preference. There's also a lot of other things that can play a role in your final salary. A few things to consider are things like how many hours you work. For example, there may be physicians who choose to go full-time or part-time. In addition, there may be physicians who choose to do multiple different roles using the medical expertise. For example, you may have a doctor who works in a clinic from Monday to Friday. And then on Saturday and Sunday, they may work for a different facility, which may be an additional salary. Or perhaps they're working as a telemedicine physician where they contact patients through video calls and video conferences or phone calls. And that is a different form of revenue that they could also make. Now, in addition to hours, you also have to remember that the way you make money is you have to bill for it, meaning you have to understand these very complicated coding systems that is involved in the United States medical system. And while billing and coding is very complicated in itself, you may have two physicians, one physician who knows how to properly code and enter everything that they've done for a specific patient and a latter physician who may be a little bit inexperienced. And while they may provide the same level of care, the first physician may get a higher pay per that specific patient and care that they provided. I'll tell you guys both my salary as well as how much a doctor makes per hour. The answer may surprise you. Quick reminder that if you're enjoying the video and the content and information, go ahead and hit that like button and support this video on YouTube. Now let's get into the final part of this video, which you may have been waiting for, which is how much does a doctor make per hour? And the answer may surprise you. Now to explain this answer, I wanna show you this very effective infographic, which I'll link down below so you guys can refer back to it. But the first thing we need to do is understand how long it takes to become a physician in the first place. You know, our salaries may seem like a dream or they're extremely high, but it's also important to understand when we, in fact, get our first paycheck as adults and as physicians. And so the infographic first takes into account how long it takes to become a physician. As a quick review, it's four years of college, four years of medical school, followed by anywhere from three to seven years of residency, depending on the specialty you go into. And then after residency, you can either choose to go into the work field and make a full-time doctor's salary, or if you wanna be even more specialized, then there are even further trainings called fellowship. So it can really depend. But here, they've estimated that an average doctor spends about 41,000 hours of their life trying to become a doctor in the form of training. And then we fast forward to understand exactly when a doctor will earn their first full real doctor paycheck. It won't be anywhere until maybe 29, 30, or upwards to 32 years old. Now, in addition to accounting for the time, it's also important to account for the money that we spend to train and become doctors in the first place, because unfortunately, it's not cheap. If you count your undergrad debt, which some of us and some of us may not have, med school debt, which most of us do, and then the interest that it cures while we're trying to pay it off as well as when we're in training, that number can go anywhere from 600,000 or even higher after 20 years. And for some people, I understand this number's a little skewed and maybe lower, especially if you don't have $100,000 of undergrad debt, which I hope you don't. But finally, we get to our breakdown. Now, for this example, they do use a cheesy example of comparing it to the salary of a teacher, which I don't know if it's called for. But basically, they compare the $200,000 salary over lifetime, which I think is about $5 million for the physician and $2 million for the teacher. Again, not my infographics, so comment down below if you disagree. But when you account for the salaries that we make in residency, which is less than a doctor salary, and then you account for the hours as well as debt, they're coming down to final answer, ding, ding, ding, about $33 per hour. When you compare that to the teacher salary that they're showing, they're showing it's about $33 as well. But with the teacher example aside, even if you consider somebody who goes into the workforce after finishing college at the age of 22 or 23, or even 25, making the average of $50,000, you can see that there's a lot of time lost for income non-generated for somebody being in training or in school of some sort. And I also understand on the flip side, that once a physician starts to actually make their doctor's salary, that they're able to play catch up pretty quickly as long as they're financially responsible. But to end the video off, as promised, I also want to share with you my specific numbers. And I talk about them a little bit more in detail here. But as a quick reminder, I am an internal medicine resident, which means I'm still finishing up that last bit of training at least for now. And I actually started to make my first paycheck ever in my life, an actual job paycheck last June to July. And that was the first kind of real paycheck I've ever seen in my life. You've had smaller jobs throughout, but this was the first one that was associated with 401K and the health insurance plan, all that fun stuff. And so currently as an internal medicine resident, my salary is about $58 to $59,000 before tax. If you want to learn more about how that money breaks down or how I'm spending it per month, I'll link it down below. In addition, if you're interested in learning how many dollars and debt I am, because of medical school, I will also link down both of those videos in the description. But that's pretty much it for this video, guys. Hopefully you guys got a lot of value from it. Hopefully I answered some of your questions. If I didn't, go ahead and drop it down in the comments section. And if you're still watching the video until the end, then I encourage you to go ahead and hit that like button and support this video on YouTube if that's where you're watching. And definitely consider subscribing to get more videos like this. We're dropping two of them on a weekly basis just for you. But thank you guys so much for being a part of my journey. Hopefully I've been well to you on yours. I'll see you guys in the next one. Peace.