People always assume that doctors, regardless of area or speciality, are highly paid individuals that live in mansions, drive luxury cars, and wear expensive clothing. Think again!
Although medicine is a very lucrative profession, there can be quite a huge income disparity between what different doctors earn. After years of intense study at medical school and years spent in residency, doctors are often burdened with hundreds of thousands of dollars in student loans. The average medical student can come out with close to $300,000 in debt. That is a lot of money to spend on education, especially when you take into consideration that doctors like pediatricians and family practitioners often less than $100,000 a year.
Skyrocketing professional liability insurance and costs associated with managing a practice can also diminish a doctor’s salary. If you are considering a career in medicine, carefully weigh the pros and cons of different specialties you might find interesting. So who are the five highest paid doctors in the world? After researching different online surveys of various doctors’ salaries, here is a list of the five highest paid doctors in the world. Although the ranking will vary from survey to survey, these listed doctor specialties consistently came in the top five.
1). Orthopedic Surgeon – $315,000 – $519,000
Orthopedic Surgeons are highly training surgeons that perform operations involving the muscular and skeletal system. Orthopedic surgeons often own their own practices and are frequently employed in settings to treat sports-related injuries.
2). Cardiologist – $314,000 – $512,000
Cardiologists are specialists in treating diseases and disorders related to the human heart and cardiovascular system. They are employed by hospitals as well as private clinics. Often, cardiologists can specialize in other areas such as pediatric, invasive, geriatric and neonatal cardiology. Cardiologists also can work as interventionists, helping patients fight heart problems associated with obesity.
3). Radiologist – $315,000 – $507,000
Radiologists are doctors that often diagnose various conditions and diseases using a variety of imaging devices such as x-rays, cat scans, etc. These doctors are also frequently used in cancer treatment facilities to administer radiation therapy.
4). Urologist – $309,000 – $461,000
Urologists specialize in treating diseases and disorders related to the urinary organs. These specialists also help diagnose and treat diseases related to male and female infertility. Often, these doctors are employed in private settings.
5). Anesthesiologist – $309,000 – $362,000
Anesthesiologists are specialists that administer anesthesia and other pain management therapies to patients who are in the process of undergoing surgical treatment. These doctors become familiar with a wide variety of anesthetic treatments and are usually employed in hospital settings where surgical operations are performed.
Although you should not use this information to deter you from pursuing your future medical career, its always intelligent to take into consideration which areas and specialties of medicine will be the most lucrative. No one wants to go through years of school and rack up hundreds of thousands of dollars of student debt to not have it pay off on their paycheck.
John Fowler is a cardiologist and guest author at Best Medical Degrees, a site with reviews of top-rated online medical degree programs.