Doctor Money Matters

The Medscape Salary and Wealth/Net Worth Survey

Your income is the biggest contributor to your overall financial health for most people. As physicians we don’t always know what we are worth. It is important to look at the market data.

My guest on this podcast is Leslie Kane of Medscape business of medicine who is in charge of the annual physician salary and net worth surveys.

We talk about trends in physician salaries. What are the highest paid fields? We look into primary care vs specialty fields. We also look at the persistent gender gap in salaries and what are some possible causes vs misconceptions.

We talk about why there are so many physicians with relatively low net worth by age 65 despite relatively high incomes. This is a problem and I am critical of the number of physicians who are in this situation. While some may have valid reasons, 25% of physicians with net worth less than $1M by age 65 is too much.

Also we discuss whether physician salaries should be discussed publicly and whether its a good thing or not. Will patients or other non physicians use it against us?

Here are links to the surveys. (You will may need to login or subscribe to Medscape (Free))

Salary and Compensation report

Net Worth and Debt report

Let’s continue the discussion over at the Doctor Money Matters private FB group (you need to request membership).

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