Doctors constantly round out some of the highest paying jobs. And there's a good reason for that; they go through a large amount of schooling and you put your lives in their hands everyday. There's no arguing that doctors deserve a lot of compensation for their work. However, there's a huge range of doctor's incomes, from $150K to over $1M depending on the situation. With this wide of a range, it's worth seeing what the highest paying medical specialties are to earn the most money (and pay off that student debt).
5. Oral and Maxillofacial Surgery
The first item on our list actually doesn't come medical school, but dental school. Oral and maxillofacial surgeons, which make $538,590 a year on average, generally deal with issues that affect the head, neck, mouth, jaw, and face. After completing dental school, these dentists will spend four to six years in residency, during which they also take two years to earn a medical degree. You will also have to take a board certification. And if you want to specialize further, you could be looking up to another 2 years of fellowship.
4. Plastic Surgery
Next up is plastic surgery, which earn a staggering $539,208 a year. And these surgeons work on more than just cosmetics. They also do reconstructive work from any traumas, like burns, or diseases. Their goal is to form the affected areas to look as normal as possible. There are two different paths for plastic surgeons; a 6-year combined general surgery and plastic surgery residency or a 5-year general surgery residency followed by a 3-year plastic surgery residency. For those that want to specialize further, they can expect another 1 or 2 year fellowship.
3. Orthopedic Surgery
Our third highest paying medical specialty may surprise some people, or not. As the first specialty to average over $600,000 a year, orthopedic surgeons bring home the big bucks, averaging $605,330 a year. Orthopedic surgeons are dedicated to treating issues with the bones, joints, ligaments, tendons, and muscles; performing surgeries like hip replacements or prescribing special treatments. They tend to look for holistic treatments to problems that are the least intrusive, so may try physical therapy or other options before resorting to surgery. Orthopedic surgeons will generally do a five year residency with the option to do one-year of specialization.
2. Thoracic Surgery
Coming in at number two, we have thoracic surgery! These surgeons, who focus on the heart, lungs, and other parts of the chest make an average of $668,350 a year. These high-performing surgeons can expect to do 6-8 years of training depending on how they want to specialize. With heart disease being the leading cause of death in the United States, this is a very in-demand specialty.
1. Neurosurgery is the highest paying of the medical specialties
And the top spot goes to... *drum roll* ... Neurosurgery! This top paying specialty averages $746,544 a year, which is almost a whopping $100,000 more than our number two spot. That's kind of crazy, but it's not for good reason. A typical neurosurgeon can expect to do anywhere from 6 to 8 years of training AFTER medical school and even more if they pursue any fellowships afterwards. Neurosurgeons can expect to focus on diagnosing and performing surgical treatment on disorders of the nervous system. This can include anything from trauma and tumors to strokes and infections.
All data from doximity.
With these being some of the highest paying specialties, they can be quite competitive and take extra time with residency and fellowships. Before choosing one, it's worth considering if you want to put in the extra training and if it is something you're passionate about. As the old saying goes, "Find a job you enjoy doing, and you will never have to work a day in your life." This holds true for medical specialties too. It's important to find a good match for yourself. Most doctors will get paid well and the top doctors in other specialties can make more than doctors in these five specialties, so find something you enjoy.
Of course, medical school also comes with a great deal of student loans. If student loans are causing you a burden, Defynance may have the solution for you. Our interest-free refinancing solution uses income share agreements, so that your payments are always affordable. So while you’re in residency, your payments can stay low without fear of interest building up. And when you start earning more money as a full-fledged physician, your payment will scale, but still be affordable for you. Since the payment is based on income, you never have to worry about whether or not you will make a payment.
