April 26, 2017
Despite its reputation as one of the nation's top medical markets, Philadelphia turns out to be among the least lucrative cities for doctors to practice in the United States, according to a new report.
Doximity, an online social networking site for clinicians, issued its first-ever Physician Compensation Report on Wednesday, providing a breakdown of what doctors earn based on their specialties and the metropolitan statistical areas in which they serve.
The report, drawing on the responses of over 36,000 licensed doctors, marks the first of its kind in medical market analysis, examining pay disparity by both gender and nationality.
Here are the top 10 metro areas where physicians earn the highest average annual salaries:
1. Charlotte, North Carolina - $359,455
2. Bridgeport, Connecticut - $353,925
3. Phoenix, Arizona - $351,677
4. Milwaukee, Wisconson - $345,831
5. Houston, Texas - $345,079
6. Louisville, Kentucky - $344,362
7. Minneapolis, Minnesota - $343,548
8. Orlando, Florida - $343,072
9. Indianapolis, Indiana - $342,699
10. Dallas, Texas - $339,911
The bottom 10 show a significant dropoff, with Philadelphia landing second from the last:
1. Durham, North Carolina - $267,598
2. Ann Arbor, Michigan - $272,398
3. Baltimore, Maryland - $281,005
4. Charleston, South Carolina - $285,933
5. Washington, D.C. - $286,242
6. Boston, Massachusetts - $286,971
7. Denver, Colorado - $288,095
8. Providence, Rhode Island - $294,103
9. Philadelphia - $296,351
10. Cincinnati, Ohio - $297,700
Philadelphia also was correspondingly among the worst cities for female physician compensation. The average annual salary of $234,306 for women is more than $60,000 below the city's average as a whole.
The study also found that nationwide, on average, foreign-trained doctors make 2.5 percent less than U.S.-trained doctors, an annual difference of $8,300 per year.
Responses to the Doximity survey were received between 2014-2017, covering only full-time, licensed U.S. physicians who practice at least 40 hours per week.
"Physician compensation is an important lens through which we can better understand labor market trends in the healthcare system," the report's authors concluded, noting that recent studies have found a growing shortage of physicians in the United States. "The Doximity data set represents the largest, self-reported sample for U.S. compensation available, and in the future, we plan to evaluate these trends over a multi-year timeframe to understand how these markets evolve over time."
For more detailed data and salary breakdowns by specialty, view the full report here.