PracticeMatch 2020 Physician Salary Survey

PracticeMatch conducts a physician compensation survey on an annual basis to report trends in salary, sign-on bonuses, and job satisfaction by specialty. Check out the 2020 survey results.

PracticeMatch 2020 Physician Salary Survey

2,000 physicians participated in the survey — 87% were employed full time, similar levels for all segments

Q2: Which of the following best describes your current practice setting?

Respondents have been in the profession for an average of 18 years and almost 12 years in their current position — Almost all are in direct patient care

Q3: How many years have you been in the profession? Q4: How many years have you been in your current position? Q5: What percent of your responsibilities include: direct patient care, administrative, other?

Almost half are between the ages of 30 and 49 — Hospital physicians tend to be a much younger mix

Q16: Which of the following categories best describes your age?

More than one third of respondents were female physicians — Gender distribution was relatively the same across settings — Almost half of younger physicians were female

Q17: What is your gender?

Most physician received compensation with base salary or salary plus bonus — Hospital physicians were more likely than office physicians to receive base salary or salary plus bonus.

Q6B: What payment model does your compensation fall under?

25% received a sign-on bonus — Median bonus was $19,000

Q7: : When you started in your current position, did you receive a sign-on bonus?

Almost half are very or extremely satisfied with their current position

Q6: Overall, for your current position, how would you rate your job satisfaction?

One third of respondents are very or extremely satisfied with their current earnings

Q12: How satisfied were you with your earnings in 2019?

Job satisfaction was higher than earnings satisfaction— Female respondents tended to be less likely to be satisfied

Q6: Overall, for your current position, how would you rate your job satisfaction? Q12: How satisfied were you with your earnings in 2019?

The salary mix is similar for office based and hospital based physicians — Office based settings seemed to have slightly more higher salaried respondents

Q9: To the nearest $1,000 approximately how much did you earn last year, not including annual bonuses?

Roughly 60% have total compensation in the $100k to $300k range — Total compensation mix is similar for office and hospital physicians

Q9: To the nearest $1,000 approximately how much did you earn last year, not including annual bonuses? Q10: How much did you earn last year as an annual bonus?

More than half of physicians are not receiving annual bonuses — 44% received an annual bonus, median bonus was around $20,000

Q10: How much did you earn last year as an annual bonus?

37% of physicians earned more in 2019 than 2018

27% of respondents had outstanding student loans — Only 9% of those (51/543) were receiving student loan assistance — Around 60% of those with an outstanding student loan balance expected it to be paid off within 10 years

Q12: Did you have any student loans with an outstanding balance in 2019? Q13B: How many years until your loans will be paid off? Q14: Did you receive student loan assistance in 2019?

Around 50% of physicians attended 1 or 2 medical conferences last year — Office based and hospital physicians were similar

Q19: How many medical conference did you attend last year?

Most physicians did not contact a recruiter last year — Hospital physicians tended to contact recruiters more often than office physicians

Q20: How many times in the last year did you contact a medical recruiter about an opening for a physician position?

Only 3% of respondents attended a career fair in 2019 — Around 50% of physicians who attended a career fair found it to be helpful or somewhat helpful — Almost 65% of those who attended went to a live career fair (n=68 physicians)

Q19B: Did you attend career fairs in 2019? Q19C: Were the career fairs live or virtual? Q19D: How would you rate the career fairs?

Email is the preferred method of recruitment for most physicians — Office based physicians were more likely to prefer not being recruited compared to Hospital physicians

Q21: How do you prefer to be recruited for a new opportunity?

Respondents were geographically dispersed

Survey conducted in March 2020 in partnership with M3 Global Research. 2,000 physicians were surveyed.

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