Endocrinologist Salary Range and the Factors that Impact it

Endocrinologists are the happiest of all medical specialties, despite less than half of them feeling like their salary is fair compensation for the work required. According to Medscape Medical News, a significant portion of endocrinologists find their jobs rewarding.

In the Medscape Endocrinologist Compensation Report 2021, 36% were rewarded by patient relationships or gratitude, while 22% felt they were helping to improve the world through their work. If given the chance to do it all over again, 79% of these professionals said they would choose to work in medicine again and 81% said they would pick this same specialty. This positive feedback from the providers themselves is great to know, considering that the average endocrinologist salary is on the lower end of the physician pay spectrum.

What exactly do these specialists do? They are physicians who focus on the endocrine system and related functioning, which means they help people with hormone problems, diabetes, thyroid issues, osteoporosis, infertility and other problems related to the endocrine system. These professionals diagnose and treat concerns, which could include diseases, disorders and hormonal imbalances. They may work with other medical professionals to best help a person’s medical situation.

Degree Requirements

To become an endocrinologist, a person starts with a bachelor’s degree and then goes through four years of medical school. After that, they participate in a three-year internal medicine residency, after which they become board certified in internal medicine. They can then become fellowship-trained and board-certified in the specialty of endocrinology.

Numerous other physician specialties come with a higher income than endocrinology for this same level of schooling. This should be a specialty you feel passionate about and want to stick with as a physician. Nonetheless, it still provides a good salary, especially compared to many other professionals within the medical field and outside of it. This article provides a clear idea of average endocrinologist salary, breaking down how a range of factors change the salary. We can help you see whether this field is right for you, the salary you could expect and tips for making more money within your profession.

Average Endocrinologist Salary

Endocrinologists made a median national salary of $263,281 in data from the 2021 Medical Group Management Association (MGMA) Compensation & Production Report. This number accounts for total compensation, and it shows median salary, which is the point where 50 percent fall below and 50 percent come above it. For an idea of the full salary range for these physicians, it goes from $191,745 in the 10th percentile to $387,714 in the 90th percentile.

Nonetheless, the listed salary varies depending on the source. That variation often reflects factors that impact salary, which we go into as you keep reading this article. Also, different sources use distinct research methods. For instance, some look at reported salaries of physicians who use the particular site, while others look to national averages, physician surveys or other sources. They may also cover varying time periods. Some include total compensation, while others only reflect base pay. It’s worth looking to a variety of sources to get a clearer idea of salary expectations for a given field.

Salary.com gives $241,761 as the national average salary for endocrinology physicians as of April 2022. It notes that the most common salary range goes from $210,864 to $281,623, but that the 10th percentile makes $182,735, while the 90th percentile makes $317,915. This website breaks things down further. It explains that the average salary given is the base salary. In addition, it’s possible to make bonuses and receive benefits worth a large value. These together create total compensation, so they make a difference when you’re considering an annual salary.

ZipRecruiter says that the national average endocrinologist salary is $237,500 annually. Indeed’s data shows a base salary of $224,067, while Medscape lists it as $245,000. Payscale gives $201,818 as the median base salary for this profession.

Factors That Affect Endocrinologist Salary

You probably noticed a significant variation in salary, and that can be explained by many factors that directly impact salary. These are common factors that play a role:

Amount of Experience

Payscale notes that a lot of the range of salaries has to do with the amount of experience each person has. It notes that entry-level physicians in this specialty area make a total compensation of $181,096 on average. Those with one to four years of experience make $197,465. After 10 years, a professional in this field makes $223,960, and after 20 years, it goes up to $230,042.

Salary also naturally increases over time, although it’s important to weigh any increases with costs of inflation. Nonetheless, the Medscape report showed that average income for endocrinologists increased from 2019 to 2020, and this was in spite of declines due to COVID-19. Therefore, it may be reasonable to anticipate healthy salary increases over time. In addition, many in this field noted an income decline due to the pandemic, so you may be able to anticipate a higher salary after a recovery.

Qualifications

ZipRecruiter notes that the broad range of salaries for this type of physician indicates a likelihood of advancement opportunities, including through skill level. Your qualifications, such as education level and added skills, may impact your salary.

Related to skills, Payscale data shows that in this specialty, patient counseling increases salary by 13 percent, clinical research increases it by 11 percent and both internal medicine and diabetes education increase it by nine percent.

Part of the Country

The region where you work makes a difference to your salary as an endocrinologist. MGMA data breaks it down by median salary like this:

• Midwestern U.S.: $270,704
• Southern U.S.: $265,977
• Western U.S.: $263,505
• Eastern U.S.: $253,766

That said, it’s not always so clear-cut, as salary also varies by the city and the population of an area. You might find pockets within regions that pay more or less than the median. For example, ZipRecruiter highlights differences in pay by city. Its list of cities that pay more than the national average for this profession include:

• Richmond, CA: $290,601
• Stamford, CT: $282,972
• Bellevue, WA: $282,334
• Lakes, AK: $272,431
• San Francisco, CA: $272,366
• Pleasanton, CA: $270,848
• Palmdale, CA: $269,433
• Santa Clara, CA: $268,413
• Hartford, CT: $267,884
• Pasadena, CA: $266,903

MGMA data shows that endocrinologists working in non-metro areas with 20,000 people or more make the most, at a median of $309,874 per year. After that comes metro areas with fewer than 250,000 people, at $287,747 per year. Next, these specialized physicians in metro areas of 250,000 to one million people make $265,781 each year, and finally, they make $258,418 in metro areas with a population of at least one million.

Practice Specifications

There are variations in salary within different types of practices. The MGMA report notes that endocrinologists working within physician-owned practices can expect to make the most, as the median is $282,168. Next, those working in hospital/IDS-owned facilities make $260,116 per year. Finally, other majority-owned practices pay $253,238 to these professionals.

Another factor is whether the practice has a single specialty or focuses on multiple specialties. In this field, these physicians make a median of $265,781 working in single-specialty practices, whereas they make $262,218 in multispecialty practices.

You may also notice a difference in salary between being employed or self-employed. Medscape explains that employed endocrinologists can expect a bonus and profit-sharing contributions in addition to salary. Self-employed ones, on the other hand, expect deductible business expenses.

Total Compensation

It’s important to consider total compensation rather than the base salary. There is a lot of room to increase income through bonuses and the value of benefits. Salary.com notes that the median bonus for endocrinologists is $8,924. This source shows that adding bonuses plus the value of benefits to the base salary brings the total compensation up to $334,245. This is a significant difference from the base salary of $241,761. Another factor that endocrinologists may receive from employers is profit sharing.

Payscale says that bonuses for endocrinologists can range from $4,000 to $51,000 per year. In addition, this source notes that they can earn overtime pay.

Sub-Specialties

Another factor is whether you sub-specialize within the field of endocrinology. This can impact your rate of pay. Perhaps surprisingly, ZipRecruiter data shows sub-specialization salaries that are lower than the average endocrinologist salary. Therefore, consider whether one of these makes sense for you for a different reason than salary alone. These are sub-specialty salaries broken down:

• Reproductive Endocrinologist: $226,687
• Remote Endocrinologist: $159,480
• Pediatric Endocrinologist: $153,587
• International Endocrinologist: $149,805
• Telemedicine Endocrinology: $135,458

 

Average Loan Debt for Physicians in This Field

Student Loan Planner says that a person can expect about $200,000 in debt on average to get through medical school. The repayment amount ends up being much more, varying by the rate attached to your loans.

We recommend you focus on your student loan debt as one way to improve your financial situation as a physician. If you can obtain a reduced rate on repayment of your loans, you will reduce your monthly bills and the overall amount of repayment. Check out our special discounts on refinancing to see if they can reduce the burden of your current loans.

How to Increase Endocrinologist Salary

The above information on salary ranges and factors that impact salary can be instrumental in showing you how to be active in increasing your salary within this field. You don’t have to passively wait for your salary to go up year-by-year or after a certain amount of experience. You can take specific steps based on the provided information, while fitting it to your own preferences and situation.

For example, moving and working in certain regions or cities may help you command more compared to your current salary. Nonetheless, it’s worth first comparing potential income with the cost of living in prospective areas.

Willing to relocate? Read this: How Moving Can Help Physicians Pay Off Student Loans

You could also consider switching to a physician-owned practice if you’re not currently working in one, as this is the type of practice that includes the highest salary.

Another option is to add skills to your resume that are connected to higher pay.

Negotiating Salary & More for Endocrinologist Contracts

Yet, one of the best ways to increase your endocrinologist salary is through contract negotiations. This can impact salary in a variety of ways, including freeing up time for an increased patient load and focusing on total compensation. Let’s get into these two aspects more.

Medscape data shows that endocrinologists spend more time on paperwork and administration than many other specialized physicians, at 18.4 hours per week. For context, the highest is infectious diseases at 24.2 hours, while the lowest is anesthesiology at 10.1 hours. The average for physicians is 16.3 hours, so endocrinologists are higher than average in this area.

It may be possible to negotiate less paperwork and administration duties into your contract, which could free up time to see more patients and increase your income.

Medscape also shows that endocrinologists spend an average of 50 hours per week working, which is about the amount prior to the pandemic.

However, post-pandemic, they tend to see fewer patients during this same amount of time working, as they spend more time on safety protocols, COVID-19 questions and other factors.

This specialist now sees an average of 70 patients each week, which is about a five percent decline from the previous 74. See if it’s possible to negotiate more time on billable hours and less time on other duties.

Further, negotiations help you command the highest possible salary from the start of a new job, based on your qualifications.

In addition, it’s smart to renegotiate as anything changes, such as increased experience or added skills. Finally, don’t overlook aspects of total compensation that go beyond base salary, including a signing bonus, production bonuses, profit-sharing plans and the value of benefits.

Need Help With Contract Review?

Are contract negotiations not your strong suit? That would make sense, as your strengths fall into the medical field.

That’s where we can help, as we’re experts in contract negotiations. We can use our expertise to help you maximize your endocrinologist salary and total compensation. Contact us to review your contract and we can help you not only negotiate your salary, but also a complete review of your contract and all the legal aspects.

Disability Insurance to Protect Your Salary

Another way we offer financial support is through disability insurance, which provides a lifeline in case certain life circumstances impact your salary.

You undoubtedly rely on your endocrinologist salary to pay your bills and care for your family.

But, what would you do if you lost that income? How would you pay for your mortgage, car, or student loans?

A good disability insurance policy will protect you if you ever become unable to earn your income due to a physical or mental disability. We highly recommend that all physicians arm themselves with this financial protection.

Of course, not all disability insurance policies are equal. There are several different factors to look into before purchasing a policy.

The best contracts have a “true own-occupation” definition, which means that policy-holders are considered disabled (and therefore eligible to receive benefits) if they can no longer perform their occupation at the time of enrollment.

There are many other tips and insurance riders to be aware of when deciding which insurance policy to purchase.

Our Definitive Guide to Physician Disability Insurance is thorough and can save you from buying the wrong policy. Read to the end and fill out the no-obligation form at the top for free insurance quotes from top disability insurance companies.

Subscribe to our email newsletter for expert tips about finances, insurance, employment contracts, and more!