According to Medscape, only 52% of general surgeons feel they are paid a fair wage. The other 48% believe they should be paid more.
So how much does the average general surgeon make? Why do some general surgeons earn more than others? Can a surgeon take steps to increase his income potential?
This article will answer those questions and more.
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What Does the Average General Surgeon Earn?
According to Medscape, the average salary for a general surgeon is $412,000 per year.
Salary.com reports a slightly higher median salary of $432,400 per year.
Payscale lists the average base salary for general surgeon jobs as $305,502, which is the lowest reported salary of all sources.
The Economic Research Institute’s compensation data show $404,239 per year as the average salary.
The source that lists the highest annual salary for a general surgeon in their salary report is Doximity. According to their survey, the average salary for a general surgeon is $451,489 per year.
Are you fairly compensated? Contact us for a professional contract review today.
Factors That Affect a General Surgeon’s Salary
As you look over the salary range above, you probably wonder why each source has a different number. Granted, some sources are more reputable than others and do deeper research to come to their findings.
However, there are factors that can greatly affect the expected salary of a general surgeon. Let’s discuss these.
Years of Experience
Before a surgeon begins to practice, they earn a small salary from residency. According to Medscape, the average surgeon’s residency salary is $64,200 per year.
After each year of residency is completed, the annual salary increases slightly, according to Medscape’s report.
An entry-level surgeon fresh out of residency, can expect to earn around $285,000 for the first five years, according to Payscale. That number begins to increase dramatically after that.
This same source shows that a general surgeon’s pay increases to an an average $306,000 during the first decade, and that pattern continues with each 5-10 years of work experience.
Location
The location where a surgeon lives and works also affects how much they can expect to earn.
When considering where to practice, a general surgeon should take into account the cost of living and demand for their skills in the area.
Of course, there are always states that pay higher than the national average.
According to ZipRecruiter, here are the top-paying states for the job title of general surgeon:
- Alaska: $307,539
- Oregon: $306,905
- Massachusetts: $306,253
According to this source, the best-paying cities for general surgeons are Dimondale, MI ($408,490) and Lake Marcel-Stillwater, WA ($392,460).
General Surgeons and Their Student Loan Debt
According to Medscape’s 2023 Wealth and Debt Report, 24% of general surgeons are still paying off medical school debt.
Understandably, it can be difficult to pay off such a large sum expediently with the years of accumulated student loans. However, having this debt looming over your head can be unnecessary added stress.
Not to mention, the interest that compounds as the years go by can take a large chunk of your earnings.
There are many ways that a physician can lower their medical school debt. Part of the trick is to get the right loan from the get-go.
Subspecialties for General Surgeons
As with any physician specialty, there are a number of general surgeon subspecialties.
Below, we’ll discuss three surgery subspecialties along with their corresponding average salary.
Pediatric Surgery
According to Salary.com, a pediatric surgeon earns $493,595 per year.
The Economic Research Institute backs up those numbers with a similar base salary of $461,441 for pediatric surgeons.
Surgical Critical Care/Trauma Surgeon
Critical care/trauma surgery is another subspecialty of general surgery.
Physicians Thrive has already done an in-depth article on the salary for this type of surgeon, which you can read here: How to Earn the Most as a Trauma Surgeon.
As a quick review, Salary.com lists their salary estimates for a trauma/critical care surgeon at $444,776.
Vascular Surgery
Vascular surgery is another subspecialty that Physicians Thrive has covered. Read the comprehensive salary article on vascular surgery here: How Much Can You Make as a Vascular Surgeon?
It should be noted that this subspecialty holds a lot of promise for increasing a general surgeon’s income. Salary.com lists the average annual salary for vascular surgery as $498,494.
*Note that cardiologists, neurologists, oncologists, and orthopedic surgeons do not fall under the umbrella of general surgery, even if they operate on patients. However, you can learn about the salary expectations for some of those fields in these articles:
Additional Ways to Increase Your Salary as a General Surgeon
Certain business moves can help a surgeon earn a higher hourly wage.
Here are some examples:
Start Your Own Practice
The most common way for a physician to increase their annual income is to go into private practice. This move is bold and needs some finesse, but if you want to take the plunge, our experts can help you start your own private practice.
Buy Real Estate
If and when you do open your own practice, instead of renting your space, invest in a good piece of real estate that will provide you with your own office space and more.
You can then make passive income by renting out the extra office spaces in this building.
Hire Assistants
Consider hiring physician assistants (PAs) and nurse practitioners (NPs) to care for the less intense tasks so that you can see more patients and focus on the surgical aspects of your business.
Develop a Subspecialty
It is always good to develop a niche or subspecialize and learn new procedures. If you are the only surgeon in the area who knows a certain procedure, you will be the go-to doctor for patients requiring it.
Strive for Bonuses
For surgeons that are employed, always take advantage of bonuses. According to Medscape, general surgeons make an average of $75,000 a year in bonuses.
Of course, you can also increase your available bonuses when you are signing your employment contract. Learn how to ask for signing bonuses here: How to Ask For a Signing Bonus.
Get Certifications
Board-certified surgeons may earn more since this requires ongoing education and shows a commitment to the specialty.
Work Locum Tenens
Physicians in many subspecialties have found that they can earn more money working as locum tenens physicians. Read more about this career option here: The Pros and Cons of Physician Locum Tenens.
How to Negotiate Your General Surgery Employment Contract
The very best way to increase your income is to negotiate a higher salary in your employment contract. No matter how much you think you are worth, you will not see that salary unless you play your cards right.
Many physicians feel intimidated by the thought of negotiating their employment contracts. It just isn’t something they learned how to do in medical school.
However, a well-negotiated employment contract can do more than just increase your income — it can also determine your expected duties, benefits, and any included restricted covenants.
Read all about the negotiation process and how to get the best deal in this guide: Can You Negotiate Physician Contracts?.
Once you feel like you may have come to a happy compromise, it would be wise to have your contract reviewed before you are legally bound to it.
This should be done not only when you enter a new contract but anytime your contract is amended, terminated, or renegotiated. Our contract review team can help.
Disability Insurance to Protect Your General Surgeon Salary
After researching how to earn more money, negotiating your employment contract to reflect your market value, and doing what you can to lower your student loan debt, you don’t want to leave yourself vulnerable.
You need to protect your income with a comprehensive disability insurance policy.
No two disability policies are the same. You want the one that will provide the best protection if you were ever to become unable to work due to disability.
This is determined by the clauses and definitions included in the policy. One of the most important definitions to check is the definition of disabled.
The definition that you want is called “own occupation.” This means that you are considered disabled if you are unable to work your own occupation. Some policies require you to be unable to work any job to be considered disabled.
As a surgeon earning hundreds of thousands a year, you don’t want to end up being denied your disability benefits because you can still work full-time in another (lower-paying) job.
Learn more about long-term disability insurance and get free quotes from some of the top insurance companies here: The Complete Guide to Disability Insurance for Physicians.
Building a Retirement From Your Annual Salary
Another important part of a surgeon’s financial health is how well they are preparing for retirement. Since surgeons earn some of the highest salaries in the nation, they may not think of saving for retirement as a high priority.
However, the earlier you start saving for retirement, the better your retirement life will be.
Physicians can feel a bit overwhelmed and not know which route to take with all the options out there.
Of course, the options available to you depend on your employment model. For example, employed surgeons and self-employed surgeons have different retirement plans available to them.
Most physicians can take advantage of some type of 401k plan. However, those employed in a non-profit organization get an account called a 403b.
Those who are owners or partners in a private practice can take advantage of profit-sharing or cash balance plans.
All surgeons should take advantage of a Roth IRA to maximize their retirement savings. Learn all about your retirement planning options here: The Complete Guide to Physician Retirement Planning.
Effective Tax Planning
Two certain things, as Benjamin Franklin said, are death and taxes. But you can lower your tax burden with effective tax planning.
As a high earner, surgeons can save thousands of dollars with one missed deduction or credit.
Physicians can also make some financial moves that will lower how much they have to pay in taxes, but many are unaware of these.
That’s why it is wise for surgeons to use a professional tax advisor to at least look over their tax returns before sending them in.
Our Beginner’s Guide to Physician Tax Planning is a great place to start.
General surgeons should feel confident that they will continue to be in high demand.
Since 1 in 6 U.S. citizens are 65 years or older, and this ratio is only expected to increase, general surgeons should also expect the demand for their expertise to increase over time.
With the information above, surgeons can do their best to position themselves in the right location and in the right practice setting to increase their salary.
Contact Physicians Thrive to learn more about how you can make the highest salary and strategies to maximize your earnings over the course of your career.
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