Here are seven stats to know about how physician pay stacks up compared to CEO pay:
1. The average annual salary of CEOs in the healthcare sector in the U.S. is $231,870, according to the most recent Bureau of Labor Statistics employment survey, with an average hourly wage of $111.48.
2. The average yearly salary for the lowest 10% of earners among healthcare CEOs was $77,030, according to the BLS.
3. Healthcare CEOs make 116% more than the average annual salary of all workers in the U.S., which is $61,900, according to the BLS.
4. Healthcare executive pay increased 4.6% in 2024, on par with the 4.4% growth rate seen the year prior, according to SullivanCotter’s 2024 Health Care Management and Executive Compensation Survey.
5. The 10 highest-paid physician specialties to know, according to Medscape’s “Physician Compensation Report:
- Neurosurgery: $788,000
- Thoracic surgery: $707,000
- Orthopedic surgery: $624,000
- Plastic surgery: $571,000
- Vascular surgery: $558,000
- Oral and maxillofacial surgery: $557,000
- Radiation oncology: $547,000
- Cardiology: $544,000
- Urology: $506,000
- Radiology: $504,000
6. The top 10 states with the highest median salaries:
- Wisconsin: $397,000
- Indiana: $372,000
- Georgia: $363,000
- Connecticut: $362,000
- Missouri: $361,000
- New Jersey: $360,000
- South Carolina: $360,000
- Florida: $359,000
- California: $358,000
- Michigan: $356,000
7. According to May 12 data from the Bureau of Labor Statistics, the Consumer Price Index, a common inflation metric, increased 3.4% in the last year. This means the 13 specialties that saw year-over-year pay increases of 3.4% or less — such as gastroenterologists, urologists and rheumatologists, all with pay increases of 2%, according to Medscape — essentially received pay cuts compared to their salaries last year, according to the report.
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