How Much Do Physicians Make In 2025?
As a leading healthcare contingency recruiting firm, we make sure to stay up-to-date on healthcare provider salaries. This helps us in our partnerships with clients, as we strive to provide as much information as possible to ensure successful long-term hires.
To that end, below are current national averages for physician salaries:
📌 National Averages (2025)
The overall average annual salary for U.S. physicians is $363,000 to $376,000.
Primary care physicians (e.g., family medicine, internal medicine, pediatrics) earn an average of $277,000 per year.
Specialists earn significantly more, averaging nearly $394,000 annually.
These overall figures align closely with Medscape’s 2024/25 compensation report and other benchmark data.
🩺 Specialty-Specific Compensation (Estimated Ranges)
Based on industry-reported salary snapshots and peer survey data:
Average Salary (2025)
Orthopedic Surgery: ~$570k
Cardiology / Gastroenterology: ~$550k to $572k
Radiology: ~$534k
Dermatology: ~$498k
Oncology / Ophthalmology / Urology: ~$400k to $460k
Emergency Medicine: ~$375k to $388k
Internal Medicine: ~$330k
Family Medicine: ~$290k
Pediatrics: ~$230k to $265k
Infectious Disease : ~$227k
Neurosurgery stands out as one of the top earners, with observed averages between $700k and $874k, depending on workload and practice setting.
🔍 Trends & Compensation Models
In 2022, salary accounted for more than 55% of total physician compensation on average, and nearly 68% of physicians received at least some salary (often with bonuses or productivity-based pay).
Base salary plus productivity bonus is now common. About 62% of job offers include a production bonus alongside salary guarantees.
The shift from private practice ownership to employment in hospitals or larger systems continues, influencing compensation models.
🎯 Factors Driving Variation
Specialty remains the largest determinant - procedural and surgical specialties command higher income.
Geographic location, practice setting (hospital employed vs. private practice), and experience level significantly influence pay.
Physicians working in rural areas or underserved regions may earn less, though some institutions offer location-based incentives.
Gender pay gaps persist: male physicians still earn significantly more than female peers, even controlling for specialty and experience.
🩻 Hospitalists & Hospital-Based Physicians
Hospitalists (internal medicine physicians working in hospitals) earn around $325,000 per year, with ranges from approximately $230k to $475k depending on shift structure, region, and academic vs. community setting.
💡 What This Means for Stakeholders
Medical students: specialty choice has massive financial implications - procedural specialties offer high pay but require longer training and greater educational debt.
Early‑career physicians: understanding base salary vs. bonuses and productivity components is crucial in evaluating job offers.
Healthcare employers: many organizations now use blended pay models (salary + bonus), reflecting trends in employment and productivity management.
🧵 Final Thoughts
In 2025, physician compensation varies widely - primary care doctors earn in the mid‑$200k range, while high-skilled specialists often exceed half a million annually. Additionally, salary structures increasingly blend guaranteed base pay with bonuses tied to productivity or quality metrics. At CHS Recruiting, we’re here to help our clients navigate the complexities of physician compensation and benefits structures. Our flat placement fees are not tied to provider salaries, so you can be sure that we only have your best interests in mind.