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40 physician specialties ranked by compensation


After several years of modest or declining growth, average pay for physicians increased by 5.9% in 2023, rebounding from a drop of 2.4% in 2022, according to Doximity's "2024 Physician Compensation Report," published May 23. 


The moderate pay increase appears to be a step in the right direction, but inflationary pressures continue to drag down physicians' real income. Adjusted for inflation in practice costs, Medicare physician payment has decreased 22% since 2001, according to the American Medical Association. CMS also cut overall physician pay 1.25% in 2024.


So, how did EM rank (out of 40)?


20. Emergency Medicine: $398,990

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