Physician Pay Rises in 2026, but Compensation Growth Varies Widely by Specialty

Average Physician Compensation Reaches $438,269

According to Doximity, average physician compensation reached $438,269 in 2025, representing a 2% increase from the previous year.

The survey includes information from more than 250,000 U.S. healthcare providers, with approximately 23,000 licensed and practicing Physicians / MD-DO participating directly in the 2025–2026 survey cycle across all primary care, surgical and diagnostic fields.

The increase represents the third consecutive year of growth in nominal physician compensation.

However, the report also emphasizes the importance of adjusting salary figures for inflation.

When compensation is adjusted for changes in the Consumer Price Index, Doximity calculated average inflation-adjusted physician compensation at approximately $332,976 in 2025.

According to the report, this represents a nearly 3% decline in real compensation compared with 2017.

The difference demonstrates why nominal salary growth does not necessarily translate into greater purchasing power. A physician earning more dollars today may still have less inflation-adjusted purchasing power than a physician earning less in an earlier period.

Physician Pay Remains Highly Dependent on Specialty

The national average provides only part of the picture.

Physician compensation varies substantially between medical specialties, reflecting differences in training requirements, procedural volume, demand for specialized services, workforce availability and other factors.

At the highest end of the compensation range, neurosurgeons averaged approximately $829,161 in 2025.

By comparison, pediatricians averaged $273,665, while pediatric rheumatologists averaged $236,011.

The difference between these figures illustrates the wide range of physician compensation across the U.S. healthcare system.

Specialty also affects the rate at which compensation changes from year to year. Some fields experienced significant increases, while others recorded declining average compensation.

Interventional Radiology Records Strong Compensation Growth

Interventional radiology was among the specialties with some of the strongest reported compensation growth.

Average compensation increased by approximately 10.8%, according to Doximity.

The increase demonstrates how individual specialty trends can differ considerably from the overall physician compensation market.

While national physician compensation increased by only 2%, certain specialties recorded increases several times larger than the overall average.

Such differences can be particularly important for physicians considering specialization, employment changes or geographic relocation.

Oncology Compensation Continues to Increase

Oncology also recorded compensation growth.

According to Doximity, oncologists reported average compensation of approximately $519,715, representing a 3.4% increase.

The figure places oncology well above the overall physician compensation average.

Demand for cancer care continues to make oncology an important component of healthcare workforce planning, while the specialty requires extensive training and specialized clinical expertise.

The compensation data reflects the financial value associated with these specialized services, although individual earnings can vary based on practice setting, geographic market and other employment factors.

Dermatology Remains a High-Paying Specialty

Dermatology continued to rank among the higher-compensated medical specialties.

Doximity reported average compensation of approximately $497,509.

However, compensation growth in dermatology declined by 2.1%.

This illustrates an important feature of the report: a specialty can have relatively high absolute compensation while simultaneously experiencing a decline in average earnings.

The level of compensation and the direction of annual compensation growth are therefore separate measures.

Rheumatology and Other Specialties Show More Modest Trends

Rheumatologists averaged approximately $321,778 in 2025, according to the report.

Compensation declined by approximately 0.98%.

The result contrasts with the increase reported for oncology and the larger increase in interventional radiology.

These differences demonstrate that physician compensation trends are highly fragmented across specialties rather than moving uniformly in one direction.

Some specialties benefit from strong demand and rising compensation, while others experience relatively flat or declining average pay.

Preventive Medicine Records a Significant Decline

One of the largest reported decreases occurred in preventive medicine.

Doximity reported a 14.3% decline in average compensation for the specialty.

The decline stands in sharp contrast to the 10.8% increase reported for interventional radiology.

Such differences are important when interpreting national compensation statistics. A 2% increase in the overall physician average does not mean that every physician experienced a similar increase.

Individual specialty compensation can move considerably above or below the national trend.

Surgical and Primary Care Compensation Gap

Doximity also identified a significant compensation difference between surgical specialties and primary care.

The pay gap between surgery and primary care increased to 90.1%, compared with 87.3% the previous year.

This means that the difference in average compensation between the two broad categories became larger during the latest reporting period.

The gap reflects multiple factors associated with physician compensation, including specialty training, procedure intensity, clinical volume, market demand and the economics of different medical services.

The difference also highlights the long-standing compensation challenge faced by primary care.

Primary care physicians play a central role in patient access, preventive care and ongoing disease management, but compensation levels have traditionally been lower than those associated with many procedure-intensive specialties.

To address clinical throughput and narrow outpatient access disparities, health systems are expanding collaborative practice arrangements with board-certified Nurse Practitioners (NP), who provide comprehensive chronic disease oversight and preventative primary care to alleviate physician case burdens.

Gender Pay Gap Remains Significant

The report also examined compensation differences between male and female physicians.

According to Doximity, the gender compensation gap remained approximately 26% for the third consecutive year.

Male physicians earned approximately $122,276 more than female physicians on average, according to Doximity's model-adjusted estimates.

The analysis accounted for factors including specialty, geographic location and years of experience.

Doximity reported that a compensation difference of at least 10% existed across nearly all specialties examined, with pediatric cardiology identified as an exception.

The persistence of the gap indicates that differences in physician compensation remain an important issue within the U.S. medical workforce.

Physician Shortages Continue to Affect Clinical Practice

Compensation trends are occurring alongside significant workforce pressures.

Doximity reported that 85% of surveyed physicians said physician shortages had affected their clinical practice.

The impact of staffing shortages can extend beyond recruitment. Physicians working in understaffed environments may face higher patient volumes, longer working hours and additional administrative or clinical responsibilities.

The report found that 82% of physicians said they were overworked.

These shortages compound across inpatient hospital ecosystems. When surgical schedules or acute care units face severe clinical vacancies, hospital leadership frequently relies on experienced Registered Nurses (RN) / Travel Nursing to stabilize patient-to-nurse staffing ratios, keep operating suites open, and preserve physician workflow continuity.

These findings suggest that compensation alone does not fully capture the employment conditions physicians are experiencing.

A higher salary may be accompanied by increased workload, while a lower-paying position may offer greater flexibility, autonomy or work-life balance.

Many Physicians Are Considering Leaving Clinical Practice

Workforce pressures are also influencing physicians' career plans.

Approximately 44% of physicians surveyed said they were somewhat or very likely to leave clinical practice entirely within the next two years.

If realized, such decisions could have implications for physician availability and healthcare access.

The finding does not mean that 44% of physicians will necessarily leave medicine. Rather, it reflects the proportion reporting that they consider leaving clinical practice a possibility within the specified timeframe.

The distinction is important because career intentions can change in response to compensation, working conditions, staffing levels, organizational changes and personal circumstances.

Work-Life Balance Can Be Worth More Than Higher Pay

Doximity's survey also found that many physicians place substantial value on factors beyond salary.

Approximately 76% of physicians said they would be willing to accept lower compensation in exchange for greater autonomy or improved work-life balance.

This finding provides additional context for the broader compensation trends.

Although higher salaries remain an important recruitment and retention tool, physicians may also consider schedule flexibility, administrative workload, control over clinical decisions and overall working conditions when evaluating employment opportunities.

Reflecting this widespread desire for autonomy, thousands of clinicians are increasingly opting out of high-intensity hospital shifts in favor of flexible Telehealth / Remote / Virtual Jobs, trading demanding call schedules for geographic freedom and manageable digital caseloads.

For healthcare organizations, this means that increasing compensation may be only one part of an effective physician recruitment strategy.

Compensation Is Only One Part of the Employment Package

The report's findings highlight the importance of looking beyond headline salary numbers.

Two physicians with similar annual compensation can have substantially different employment experiences depending on their schedules, call responsibilities, productivity expectations, benefits, geographic location and administrative workload.

Similarly, a position with a lower base salary could potentially offer different forms of value through greater autonomy, flexible scheduling or improved work-life balance.

This helps explain why compensation growth and physician job satisfaction do not necessarily move together.

Inflation Changes the Meaning of Salary Growth

The difference between nominal and inflation-adjusted compensation is another important feature of the 2026 report.

A 2% increase in average compensation may appear positive when viewed only as a salary figure. However, when the broader increase in consumer prices is considered, the purchasing power associated with physician income can be lower than it was several years ago.

Doximity's estimate of approximately $332,976 in inflation-adjusted average compensation in 2025, along with its calculation of a nearly 3% decline in real compensation since 2017, demonstrates this distinction.

For physicians, the practical financial impact of a salary increase therefore depends partly on inflation and the cost of living in the physician's local market.

Geography Also Matters

Physician compensation varies not only by specialty but also by geographic market.

The value of a particular salary can differ substantially depending on housing costs, taxes, insurance costs and other expenses.

Doximity's compensation analysis accounts for geographic factors in its broader assessment, but individual employment offers can still vary considerably within the same specialty.

A physician comparing two positions may therefore need to consider total compensation alongside local living costs and workplace conditions.

What the 2026 Report Shows

Doximity's latest findings present a complex picture of physician compensation in the United States.

Average physician compensation increased to $438,269, but the overall growth rate was only 2%. At the same time, inflation-adjusted compensation remained below its 2017 level.

The differences between specialties were much larger. Neurosurgery averaged more than $829,000, while pediatric rheumatology averaged approximately $236,000. Interventional radiology recorded an increase of 10.8%, while preventive medicine compensation declined by 14.3%.

The report also highlights continuing workforce challenges. 85% of physicians reported that shortages had affected their practice, 82% said they were overworked, and 44% said they were somewhat or very likely to leave clinical practice within two years.

At the same time, 76% said they would consider accepting lower compensation for greater autonomy or better work-life balance.

These findings indicate that physician compensation remains an important component of the U.S. healthcare labor market, but it is only one factor shaping employment decisions.

Outlook for Physician Compensation

The 2026 Doximity data suggests that physician compensation will remain closely connected to specialty demand, workforce availability and employment conditions.

Specialties experiencing strong demand may continue to see compensation pressure as healthcare organizations compete for qualified physicians. At the same time, specialties with slower demand or different reimbursement dynamics may experience more modest salary growth.

Healthcare employers also face the challenge of addressing workload and retention concerns. Higher compensation can improve the attractiveness of an employment offer, but the survey suggests that physicians also place considerable value on autonomy, flexibility and work-life balance.

For physicians evaluating career opportunities, the latest data reinforces the importance of considering the full employment package rather than focusing solely on the headline salary.

For healthcare organizations, the findings highlight the continuing challenge of balancing competitive compensation, physician productivity, workforce expansion and sustainable working conditions.

Overall, the 2026 Physician Compensation Report shows that physician pay in the United States continues to rise in nominal terms, but the experience varies significantly by specialty. The combination of uneven salary growth, inflation, workforce shortages and changing physician priorities is creating an increasingly complex compensation environment across the U.S. healthcare industry.