While exact percentages vary by source and year, studies show a small but significant portion of US physicians earn over $1 million annually, with the top 10% averaging around $1.3 million, and the top 1% earning significantly more (averaging $4 million), often from specialties like surgery or business ownership, while the overall average physician salary is much lower, around $350,000-$400,000.
Millionaire Status
Across the board according to the 2021 physician wealth report, 56% of physicians reported a net worth of over a million. Out of family physicians, the majority become millionaires by the age of 55, with only 11% having a net worth of a million before 45.
In fact, the top 1% of physicians in the United States earned an average of $4 million per year, with much of that income coming from business ownership and capital gains.
Cardiac Anesthesiologist – $700K Annual Compensation.
How much do doctors get paid? According to the 2025 MedScape Physician Compensation Report, doctor salaries rose moderately in 2024. Last year, Primary Care Physicians (PCPs) in the United States earned an average of $287,000, while Specialists earned an average of $404,000.
The top 1% of physicians earned more than $1.7 million a year. Researchers found that doctors from the best medical schools flock to the highest-paying specialties. Doctors also favor procedures that yield more profits. Some medical specialties are eye-poppingly well-paid.
Yes, doctors often struggle with money management due to massive student debt, high expenses, lack of financial education, and lifestyle creep, despite their high incomes, leading to a stereotype that they are bad with finances, but proactive education and planning can help them overcome these challenges. They often start late in saving and investing, facing a steep learning curve with significant debt and a high tax burden, which makes disciplined financial habits essential.
The highest-paid doctors in the U.S. are neurosurgeons, thoracic surgeons, and orthopedic surgeons. These surgical specialists earn average annual salaries between $650,000 and $760,000, making them the top earners among physicians.
While doctors experience a significant salary increase in their thirties, they have large debts to pay off. Still, they can expect to have an average net worth of $500,000 if they have managed their finances carefully and have begun investing.
Unlike most professionals who start earning a full salary in their early 20s, doctors spend years in medical school and residency. By the time you reach your 30s, you're making good money—but also playing financial catch-up.
While average data suggests MDs tend to earn slightly more, the biggest factor in physician income isn't the degree (MD vs. DO) but the specialty, experience, and location, with more DOs historically entering lower-paying primary care or rural areas, leading to overall lower average DO salaries, though MDs and DOs in the same specialty often earn comparable pay.
Public Health & Preventive Medicine
Because they are more likely to work in academic, governmental, nonprofit, or corporate settings, these jobs offer a similar work/life balance to many professions outside of medicine, working the fewest hours of many doctors.
20 Highest Paid Non-Physician Jobs in Healthcare
A 900K job refers to a position with an annual salary of $900,000. These jobs are typically found in high-paying industries such as executive leadership, investment banking, top healthcare specialties, or technology entrepreneurship.
10 high-paying jobs
Average base salary
The average salary for a cardiology physician is $298,076 per year in the United States. 1.3k salaries taken from job postings on Indeed in the past 36 months (updated January 11, 2026).
15 highest-paying doctor jobs