Physician Compensation Trends 2025: What to Offer

Understanding Physician Compensation in 2025

Compensation remains the #1 factor in physician job decisions. This guide provides the data you need to create competitive offers.

Salary Benchmarks by Specialty

Surgical Specialties

Specialty Orthopedic Surgery Neurosurgery Cardiothoracic Surgery General Surgery Plastic Surgery

Median 2024	YoY Change
--	-
$557,000	+4.2%
$663,000	+3.8%
$595,000	+3.5%
$402,000	+4.0%
$501,000	+5.1%

Medical Specialties

Specialty Cardiology Gastroenterology Dermatology Pulmonology Oncology

Median 2024	YoY Change
--	-
$507,000	+4.5%
$495,000	+3.9%
$449,000	+4.8%
$395,000	+3.2%
$411,000	+3.7%

Primary Care

Specialty Family Medicine Internal Medicine Pediatrics

Median 2024	YoY Change
--	-
$255,000	+5.5%
$273,000	+5.2%
$244,000	+4.8%

High-Demand Specialties

Specialty Psychiatry Emergency Medicine Anesthesiology

Median 2024	YoY Change
--	-
$287,000	+7.2%
$350,000	+2.1%
$405,000	+3.3%

Regional Variations

Highest Paying Regions

Midwest: 5-10% above national average

Southeast: 3-8% above average (growing)

Rural areas: 10-20% premium for shortage areas

Lowest Paying Regions

Northeast: 5-10% below average (supply exceeds demand)

West Coast: Mixed (high COL offsets)

Academic centers: 10-20% below private practice

Beyond Base Salary

Sign-On Bonuses

Specialty Type Typical Range

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Primary Care $25,000-$50,000 Medical Specialties $50,000-$100,000 Surgical Specialties $75,000-$150,000 In-Demand (Psych, etc.) $50,000-$100,000

Student Loan Repayment

Increasingly important for younger physicians:

• Average medical school debt: $200,000+
• Loan repayment programs: $50,000-$200,000 over 2-4 years
• PSLF considerations for employed physicians

Other Benefits

• Relocation: $10,000-$30,000
• CME allowance: $3,000-$8,000/year
• Retirement match: 4-6% typical
• Malpractice: Occurrence vs. claims-made matters
• Health insurance: Family coverage valued at $15,000-$25,000

Compensation Structure Trends

Production-Based Models

• wRVU-based compensation growing
• Average conversion factor: $45-$65 per wRVU
• Quality bonuses: 5-15% of compensation

Employed vs. Private Practice

Factor Employed Private Practice

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Base salary Higher Lower Upside potential Limited Unlimited Job security Higher Varies Administrative burden Lower Higher Autonomy Lower | Higher |

Creating Competitive Offers

Must-Haves

Market-rate base salary (within 10% of median)

Competitive sign-on bonus

Reasonable call expectations

Clear productivity incentives

Standard benefits package

Differentiators

Loan repayment programs

Flexible scheduling

Partnership/equity track

Leadership opportunities

Research/teaching time

Common Mistakes

Lowballing initial offers: Physicians talk; reputation matters

Vague production bonuses: Be specific about wRVU rates

Ignoring total compensation: Benefits and lifestyle matter

One-size-fits-all: Customize for candidate priorities

Slow decision-making: Top candidates have multiple offers

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