Physicians saw a 1.5 percent average increase in pay between 2019 and 2020, a relatively low figure compared to the up to 4 percent increases seen in previous years, according to Doximity's 2020 Physician Compensation Report.
Doximity collected self-reported compensation survey data from more than 44,000 licensed U.S. physicians who practice at least 40 hours a week. The report examines how compensation changed from 2019-20, evaluating trends across metropolitan areas, medical specialties, gender and employment type.
Researchers found metro areas with lower average compensation often house more academic institutions and health systems, which can pay less than private institutions.
Ten metro areas with the highest average physician compensation:
1. Milwaukee — $430,274
2. Atlanta — $428,244
3. Jacksonville, Fla. — $427,090
4. Buffalo, N.Y. — $407,070
5. Orlando, Fla. — $406,587
6. Raleigh, N.C. — $406,365
7. Charlotte, N.C. — $404,285
8. Minneapolis — $401,978
9. Riverside, Calif. — $397,005
10. Dallas — $396,184
Ten metro areas with the lowest average physician compensation:
1. San Antonio, Texas — $329,475
2. Virginia Beach, Va. — $331,952
3. Boston — $347,894
4. Baltimore — $348,389
5. Washington, D.C. — $351,572
6. Denver — $352,073
7. Philadelphia — $354,788
8. Memphis, Tenn. — $356,875
9. Louisville, Ky. — $360,609
10. Providence, R.I. — $365,807
To view Doximity's full report, click here.