Which Doctor Specialty Makes The Most Money

No one ever said becoming a doctor was easy. Medical school is competitive, rigorous and expensive. If you're going to invest time, effort and money to earn your M.D. or D.O., then you want your medical career to be rewarding enough – financially and otherwise – to make your work worthwhile.

The training takes persistence, and the work-life continues to be strenuous and demanding. Physicians and surgeons often work schedules with long, unpredictable hours. They may also work on-call. The hard work yields a high-paying career, and the opportunity to provide hope and healing to patients of all ages.

Medicine is known as a lucrative field, but even within the industry, earnings can vary substantially from one specialty to the next. The United States Bureau of Labor Statistics (BLS) notes that all physicians earn a median annual wage above $208,000 per year.  As a whole, specialists make $284,000 per year on average,  Medscape  reported. Our list of the top 10 highest paying medical specialties delves into several of these rankings to show you which specialties truly pay the most money – and what to expect working in them.

1. Neurosurgeon

Neurosurgery is the highest-paid specialty  in the medical profession. With patients suffering from brain-related illness or injury, neurosurgeons must have experience and expertise with the brain, spine, spinal cord and nervous system. Neurosurgeons can specialize in adult or infant and child treatment.

Neurosurgeons will:

• perform back surgery
• remove tumors
• care for brain and spine infections and injury
• treat strokes and degenerative disease
• diagnose and treat chronic pain, seizures and epilepsy
• interpret radiological studies

Salary.com reports neurosurgery as the top-paid specialty in the medical field with an annual salary of $609, 201.

Neurosurgery impacts the life of a patient because the nervous system affects all areas of the body. Though the training is extensive, a neurosurgeon provides a significant contribution to the medical field.

What They Do: Brain, Spine and Nervous System Surgery

Annual Earning: $609,201

Training: 1 year internship in general surgery, 5-7 years in neurosurgery residency program

2. Invasive Cardiology

If you don't mind the pressure of holding a patient's heart in your hands, then this top-paying field of invasive cardiology might be the right medical specialty for you to pursue.  Forbes  reported that doctors who practice invasive cardiology earn an average base salary of $525,000 per year. If you're interested in heart health but not necessarily the high-stress invasive aspect of the specialty, cardiology more generally is still a rewarding choice.  CBS News  rated the specialty of cardiology second-highest, bringing in $376,000 in annually for patient care.

Cardiologists specialize in heart health. They assess heart function and cardiovascular health through blood flow, blood pressure and other health indicators.

Cardiologists:

• order diagnostic tests
• perform procedures
• prescribe medication to improve suboptimal heart health

These doctors may work with patients who are in the advanced stages of heart failure and even those who need transplants. Invasive cardiologists are surgeons who carry out procedures such as repairing damaged heart valves, inserting pacemakers or defibrillators and performing heart bypass operations.

What They Do: Heart health and surgery

Annual Earnings: $525,000

Training: 1 year of subspecialty training on top of 3 years of general cardiology training

3. Orthopedic Surgery

Orthopedic surgeons earn a base salary of $497,000 per year, according to  Forbes . Other sources cite different earnings for the specialty, but it consistently ranks high on the list. For example,  Medscape  and  CBS News listed the average wages for orthopedic surgeons as $421,000, but rank the field as the top-paying specialty in medicine.

Treating the musculoskeletal system means working on the spine, extremities, and related structures. Orthopedic surgeons treat:

• patients who suffered injuries in a trauma
• congenital (from birth) conditions
• infections
• cancer
• degenerative (progressive) diseases

Even within the specialty of orthopedic surgery, there are numerous subspecialties. Some orthopedic surgeons work exclusively on procedures on the hand or foot and ankle. They may also focus on a particular type of condition, like cancer (oncology) or sports injuries (sports medicine). Orthopedic surgeons set broken bones, replace damaged joints, repair injured tendons and surgically remove tumors.

What They Do: Surgical procedures on the musculoskeletal system

Annual Earnings: $497,000

Training: 5 years

4. Gastroenterology

Reporting a base salary of $455,000 per year,  Forbes statistics rank gastroenterology the fourth highest paying specialty in medicine. Medscape also rated the specialty equally highly, though it listed annual earnings of $370,000.

Gastroenterologists treat disorders that occur in every part of the digestive system, from the esophagus through the stomach and even the bowels, and including organs like the liver, gallbladder, pancreas and others within the abdominal cavity. As part of the specialty of internal medicine, gastroenterology focuses on diagnosing and treating conditions like:

• heartburn
• diarrhea
• acid reflux
• ulcers
• pain

These specialists play a role in preventing and diagnosing cancers of the digestive organs, including esophageal and colon cancer. Gastroenterologists perform minimally invasive procedures and diagnostic tests like endoscopies, which allow doctors to see inside the gastrointestinal organs.

What They Do: Digestive health

Annual Earnings: $455,000

Training: 3 years of subspecialty training on top of 3 years of internal medicine training

5. Radiology

Radiology is the use of nuclear radiation for medical purposes, ranging from diagnostic tests to radiation treatments. Radiologists earn an average of $414,090, Salary.com  reported. Radiologists work in hospitals and other healthcare settings.

Diagnostic radiologists read and interpret diagnostic imaging tests such as:

•  X-rays
• ultrasounds
• computed tomography (CT) scans
• magnetic resonance imaging (MRIs)

Radiologists may also serve interventional roles, such as taking part in image guided therapy and administering radiation to cancer patients. Radiologists often specialize in imaging different regions of the body, like chest and cardiac imaging, abdominal imaging and performing mammograms to screen for breast cancer

What They Do: Diagnostic testing and radiation treatments

Annual Earnings: $414,090

Training: 5 years

6. Urology

Urologists make an annual base salary of $412,000,  Forbes  reported. Medscape ranked the specialty lower on the list, with earnings of just $344,000 per year, but even on this list urology still made the top 10.

Urology is the medical specialty that focuses on the health of the urinary tract of both genders and the reproductive system of male patients. Several organs and structures fall under the domain of urologists, including the bladder, kidney, prostate and urethra as well as male genitals. Urologists diagnose and treat:

• urinary tract and bladder infections
• difficulty urinating
• incontinence
• kidney stones
• enlarged prostate
• male infertility

What They Do: Urinary tract

Annual Earnings: $412,000

Training: 5 years

7. Dermatology

As the largest organ of the body, it's no wonder skin gets its own specialist.  Forbes  lists a base annual salary of $412,000 for dermatologists, while Medscape reports earnings of $339,000.

Dermatologists diagnose and treat skin disorders of all kinds, from acne to cancer. They may perform routine skin examinations to screen for signs of melanoma or other forms of skin cancer, tracking any changes in the appearance or location of moles. They may perform diagnostic tests like biopsies on unusual skin conditions and changes. Dermatologists treat skin allergies, infections, eczema and other conditions. Many dermatologists also perform cosmetic procedures, ranging from laser surgery and excisions of unwanted skin conditions and markings to liposuction, chemical peels and injections of dermal fillers like Botox.

What They Do: Skin health

Annual Earnings: $412,000

Training: 4 years

8. Plastic/ Reconstructive Surgery

Dermatologists may do some cosmetic procedures, but plastic surgeons are the physicians who devote their careers to medical aesthetics and reconstruction. Salary.com  reports annual earnings of $393,073 for plastic surgeons. Earnings for plastic surgeons have increased consistently over the past 10 years.

Plastic surgeons may work on virtually any visual body part, from the appearance of the skin to the shape of the torso, breasts, and limbs and even external reproductive structures. While the goal of cosmetic surgery is often to enhance the aesthetic appearance of the body, some plastic surgery procedures are reconstructive, intended to repair damage done by an injury, congenital defects or disease that affects function as well as appearance. Plastic surgeons typically use skin grafts, implants, liposuction techniques, tissue transfers and other methods to achieve the appearance improvements desired by their patients. As with other specialties, plastic surgery includes subspecialties like surgery on the head and face (craniofacial surgery), the hand and serious burns.

 What They Do: Cosmetic procedures

Annual Earnings: $393, 073

Training: 2 years

9. Emergency Medicine Physician

Emergency medicine is what it sounds like – the specialty that focuses on caring for and stabilizing patients during medical emergencies.  Forbes  lists the annual base salary for specialists in the field of emergency medicine as $345,000. Medscape puts the salary somewhat lower, at $306,000 per year, but within its ranking of the top 10 highest paying specialties.

In a medical emergency, doctors have to act fast. Making the wrong decision could endanger the patient's life or leave them with permanent disabilities, but so could waiting too long to take action. Specialists in emergency medicine work in both emergency department and pre-hospital settings to recognize and treat acute diseases and severe injuries. Quick and accurate decision-making is essential to saving the lives of emergency patients., These physicians need a strong background in clinical and technical skills and a breadth of medical knowledge to draw from when evaluating patients and planning patient care.

What They Do: Emergency care

Annual Earnings: $345,000

Training: 3 years

10. Anesthesiology

Anesthesiologists are the doctors responsible for keeping patients pain-free, sedated or unconscious during surgical procedures. The important job comes with a high earning potential – $261,730 according the Bureau of Labor and Statisics – though salaries for specialists like urologists and dermatologists overshadow that of anesthesiologists in other publications.

Though not surgeons themselves, anesthesiologists work primarily with patients undergoing surgery. They prepare the patient for diagnostic procedures and operations that would be painful or uncomfortable by administering anesthetics, pain relief medications. During surgery, anesthesiologists observe the patient's pulse, blood pressure, breathing, body temperature and other vital signs for any signs of pain or stress and adjust pain medications accordingly. They monitor patients after surgery and contribute to postoperative care. Anesthesiologists also use their expertise in pain medications to help patients with chronic pain, those in the intensive care unit (ICU) and mothers going through childbirth find effective and safe pain relief.

What They Do: Pain relief during surgery

Annual Earnings: $261,730

Training: 4 years

Also Note: General Surgery

General surgery rounds out the top 10 highest paying medical specialties, with BLS  reporting a yearly base salary of $252,040.

Many other specialties – including some among the highest paying, like orthopedic surgery and invasive cardiology – practice surgery. A doctor who specializes in general surgery has a broad base of knowledge that allows them to treat a wide range of medical conditions through operations with specialized tools. Most general surgeons perform procedures that involve the skin, neck, breasts, abdomen and arteries, referring patients with orthopedic, neurologic, cardiac and similar conditions to surgeons in the appropriate specialties. General surgeons work with their patients throughout the surgical process, from diagnosing the medical condition that requires surgery and prepping them for the procedure to providing postoperative care.

What They Do: Operations

Annual Earnings: $252,040

Training: 5 years

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Editor's Note: The earnings, training requirements and responsibilities listed in this article are meant as a guide only for aspiring doctors to do their own research into the medical specialties that interest them. As noted in the article, even credible publications may report vastly different wages for physicians of the same specialties. Training information presented in this article comes from the Association of American Medical Colleges, does not include time spent in medical earning a M.D. or D.O., and is subject to change.

DQ Staff

Updated May 2020

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Which Doctor Specialty Makes The Most Money

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