Dermatology is booming with practitioners that want to join the field and has become so competitive that some organizations said they receive 600 applications for four residency spots, The Wall Street Journal reported Nov. 18.
But why has this specialty taken off?
Primarily, it's the high pay and balanced work life. Dermatologists earn a median of $541,000 per year, according to a survey by the Medical Group Management Association.
Here are seven other things to know:
- Medical residency applications for dermatology slots are up 50% over the past five years, with women and younger physicians flocking to the specialty. Of applicants who selected dermatology as their first choice, 71% were women.
- Dermatologists traditionally treated venereal diseases. But in 2002, the FDA approved Botox as a treatment for frown lines and the demand for cosmetic treatments skyrocketed.
- Dermatologists still perform both medical and cosmetic treatments, and appointments tend to last between 20 minutes and an hour. Some dermatologists reported seeing 60 patients in a day, many of which pay out-of-pocket for procedures.
- Social media has popularized skin care, which has added to the profession's allure. Some dermatologists have built online presences that can earn them $30,000 per sponsored post that promotes a brands' skin products.
- Dermatology tends to have low-pressure cases, which provides a better worklife balance without patient emails at all hours or staying late to care for patients in need.
- Dermatologists also report that their work has more immediate gratification between easily being able to identify the issue and patients being more motivated to address the issues they can see on their skin.
- The specialty is the second to least diverse among medical specialties, though many providers are creating new opportunities to attract minorities to the field.