The highest- and lowest-paying metro areas

Doximity also ranked metropolitan areas where physicians received the highest compensation in 2022. Physicians in Charlotte, North Carolina received the highest average annual compensation at $430,890. In comparison, physicians in Washington, D.C., received the lowest average annual compensation at $342,139.

In 2021, the top ten metropolitan areas with the fastest growing physician compensation all saw growth rates of at least 6%. In 2022, only one metropolitan area (Oklahoma City, Oklahoma) saw a growth rate of at least 6%. The next highest growth rate was 4.6% in Baltimore, Maryland.

An ongoing gender wage gap among physicians

There was a slight decrease in the gender pay gap between female and male physicians between 2021 and 2022 (28% and 26%, respectively), but it continues to be a significant and ongoing problem. In 2022, female physicians were paid $110,000 less than their male counterparts on average, even when specialty, location, and years of experience were taken into account.

In addition, Doximity found that there were no medical specialties in which women earned as much or more than men. All specialties, aside from pediatric cardiology and nuclear medicine, had a pay gap of at least 10%.

What are physicians' career plans going forward?

In May 2022, U.S. Surgeon General Vivek Murthy issued an  advisory  about the growing burnout crisis among healthcare workers. As part of its compensation report, Doximity also surveyed over 2,000 U.S. physicians between October 2022 and January 2023 about overworking and how it has impacted their career plans.

Overall, over 86% of physicians reported being overworked, and many were looking for a different employer (15%), a different career (16.1%), or considering early retirement (35.6%) because of their heavy workload.

Female physicians were more likely to say they were overworked compared to their male colleagues. Only 8% of female physicians said they were not overworked, compared to 17% of male physicians.

Female physicians were also more likely to report considering a career change (73%) than male physicians (63%).

As physicians try to achieve more autonomy in their work or a better work-life balance, many are considering lower compensation, Doximity found. In a poll of over 3,000 U.S. physicians, 71% said they had either already accepted or would be willing to accept lower compensation in change for more autonomy or work-life balance.

However, despite a desire for greater autonomy or work-life balance, many physicians are also reporting taking on more work, either through a side job or an increased workload, to adjust for economic factors, such as inflation or Medicare payment cuts.

(Kayser, Becker's Hospital Review, 3/23; Condon, Becker's Hospital Review, 3/23; Lagasse, Healthcare Finance, 3/23; Doximity 2023 Physician Compensation Report, accessed 3/24)