2024 Review of Physician and Advanced Practitioner Recruiting Incentives
As the numbers below indicate, average starting salaries increased in eight out of the 15 specialties tracked in the Review and declined in four. No year-over-year comparison data is available for three of the specialties.
PHYSICIAN SPECIALISTS SEEING YEAR-OVER-YEAR AVERAGE STARTING SALARY INCREASES/DECREASES 2023/24 2022/23 INCREASE Dermatology $486,000 $427,000 +13.8% Orthopedic Surgery $686,000 $633,000 +8.37% Neurology $383,000 $354,000 +8.19% Obstetrics/Gynecology $389,000 $367,000 +5.99% Anesthesiology $460,000 $450,000 +5.99% Gastroenterology $531,000 $506,000 +4.94% Radiology $495,000 $472,000 +4.87% Hematology/Oncology $444,000 $440,000 +0.91% DECREASE Psychiatry $285,000 $355,000 -19.94% Cardiology $396,000 $433,000 -8.55% Urology $496,000 $540,000 -8.15% Hospitalist $283,000 $299,000 -5.35% NO YEAR-OVER-YEAR DATA General Surgery $419,000 N/A N/A Otolaryngology $358,000 N/A N/A Emergency Medicine $404,000 N/A N/A
Year-over-year starting salary fluctuations may sometimes result if AMN Healthcare conducted an unusually large number of searches for a given specialty in a market where physician compensation is either atypically low or high. Fluctuations also may occur if market conditions change in a given specialty. For example, the near 20% drop in average starting salaries for psychiatrists may be a result of the markets in which some of these search engagements were conducted and the decline may be a one-year aberration. The near 14% increase in starting salaries for dermatologists represents the second year starting salaries for dermatologists have increased significantly, and likely is the result of rapidly accelerating demand for this specialty. Average Starting Salaries for APPs The average starting salary for NPs during the 2024 Review period was $164,000, up from $152,000 the previous year, an 6.6% increase. Though starting salaries for NPs continue to climb, they still earn considerably less than physicians. As was referenced above, NPs generate revenue and continue to represent a good return on investment in an era when many healthcare organizations are focusing on cost control. The average starting salary for CRNAs tracked in the 2024 Review was $279,000, up from $218,000 last year, a 31.6% increase. Demand for CRNAs is accelerating, underscoring the growing number of medical procedures being generated by
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