Setting Goals for Your Physician Career
Medical students spend years thinking about their future careers as a physician, investigating different specialties and potential salaries, and getting familiar with different working environments. But after graduating from medical school and completing residency, they may get that first physician job and then settle into their daily work. Sometimes for years.
But eventually, they need to reevaluate.
Even if you’ve held several positions, it’s good to be proactive and continually check if you are heading in the right direction. Goal setting for your physician career will depend on your career stage, and require some self-reflection and research. As a new year is upon us, there’s no time like the present to take stock and plan your next steps.
What to Know About the Physician Job Market
One of the best tools to consult is AMN Healthcare's 2024 Review of Physician and Advanced Practitioner Recruiting Incentives. Now in its 29th year, this annual review tracks the salaries, bonuses, and other incentives offered to physicians in a variety of specialties over this past year, with comparisons to previous years. It has become a benchmark used by job candidates and healthcare facilities to determine which incentives are customary and competitive. It also outlines a number of trends in the physician job market.
Tracking Physician Salaries
So, how much could you expect to earn if you decide to seek a new physician job? Salary offers can vary significantly depending on medical specialty, location, facility need, and the experience level of the candidate, but knowing average physician salaries can provide a starting point for consideration.
The following data shows the average salaries of some of the most in-demand specialties (in order of recruitment volume) across the United States, based on physician recruitment assignments from 2023 to 2024:
|
Physician Specialty |
Average Starting Salary |
|
Family Medicine |
$271,000 |
|
OB/GYN |
$389,000 |
|
Internal Medicine |
$271,000 |
|
Gastroenterology |
$531,000 |
|
Radiology |
$495,000 |
|
Cardiology |
$396,000 |
|
Anesthesiology |
$460,000 |
*Note that these amounts are only starting salaries. In addition, many physician employment offers include bonuses, educational payments, student loan forgiveness, relocation allowances, etc. For further details, including the low-to-high salary ranges and other incentives, download the full report.
How to Know It’s Time to Look For a New Role
Of course, money is just one factor when it comes to choosing a new career opportunity. Here are some of the top reasons physicians decide to make a change:
You desire greater compensation or a new opportunity. If you’ve decided it is time to start making more money or gain some additional experience for your ultimate goal, this would be a good time to get some professional career advice. Don’t already have a physician mentor? Seek out one in your chosen specialty. Then do more research on the job market and talk to a physician recruiter, who can help you take those next steps.
You need a change in practice location. Where you live and work is a key factor in your overall career satisfaction, and a change in location may be indicated due to family needs, personal preferences or a more robust physician job market in different regions of the country.
You are stressed and no longer find joy in your current practice. Are you calling in sick a lot, or simply dread going to work? Is your health suffering? Is management not addressing your concerns? Physician burnout is a longstanding problem but has become even more common during the COVID-19 pandemic. If you don’t expect things to improve at your current workplace, your mental and physical health may require a job change and a fresh start.
Work schedule and quality of life factors are more important. Physicians are known for working long hours in often harrowing situations, but no one can do that forever. Whether you are in early, mid, or late career, a change in your work schedule and responsibilities could be life-changing. If spending more time with family, getting your weekends off, or simply having the flexibility to take more breaks and travel appeal to you, it may be time to review some new career options.
