Career Planning
|
Reviewing Your Job Offer
Review General Salary Data
There is substantial information available on physician salaries in general.
While that data is not neonatology-specific, it can give some insight into overall physician compensation trends and should be helpful knowledge as you consider your own offers.
There is substantial information available on physician salaries in general.
While that data is not neonatology-specific, it can give some insight into overall physician compensation trends and should be helpful knowledge as you consider your own offers.
Salary by Employment Type
The physician and healthcare professionals network, Doximity, completed a survey across their members and revealed the following salary rankings by practice type:
These findings demonstrate the higher compensation rates associated with physicians in private practice as noted by the highest compensation reported for Single Specialty Group, Solo Practice, and Multi-Specialty Group.
This was also demonstrated by their 2019 report in which physicians reported a difference of $70,000 between self-employed vs. employed physicians.
Academic vs Non-Academic
According to the attached article, non-academic physician compensation was higher than their peers practicing in academic programs.
“…physicians in non-academic hospital systems earned more than their peers in academic settings across the board…with those in non-academic settings earning $122,795 more than their peers…”
“Physician Compensation at Non-Academic Hospitals Up to $123K More” – RevCycle Intelligence
Salary by Geographic Location
According to Medscape’s 2018 Physician Compensation Report (separate login required), the North Central region reported the highest physician salaries, while the Northeast reported the lowest.
These numbers demonstrate the market forces of supply and demand.
Areas with high cost of living are typically desirable places to live, therefore the high supply of physicians wishing to live there places downward pressure on salaries.
Salary by State
According to Medscape’s 2018 Physician Compensation Report (separate login required), Indiana physicians reported the highest salaries.
Physicians in the District of Columbia reported the lowest salaries.
