How Much Do Podiatrists Make in 2024? Figures Analyzed

The average podiatrist salary is around  $247,363 per year, but some sources estimate a higher amount.

Podiatrist physicians treat conditions associated with the feet, a job that may seem easier compared to other specialties.

The salary even reflects this because it’s considerably lower than the average for other specialties.

However, unlike any parts of our bodies that can be allowed to recover, feet are the daily driver, literally.

Accordingly, podiatric study is actually a lot more difficult than people would imagine, from undergraduate education to residency training.

The good news is that you can still make a good amount of money from podiatric medicine even if the average salary of a podiatrist jobs is low. In this guide, we’ll explain exactly how.

What Is the Average Podiatrist Salary?

According to the U.S. Bureau of Labor Statistics, podiatrists make an average of $141,650 per year, which can go up to $216,000 for some podiatrists ($68.10 to $103.88 per hour). Typically, we rely on Medscape’s Reports as our primary source of information.

However, podiatrists’ compensation wasn’t mentioned in either the 2023 or 2024 Physician Compensation Reports.

Accordingly, there is no specific data regarding the gender pay gap between male and female podiatrists. However, the 2024 Medscape Report found a $12,000 payment gap between men and women physicians in general. So, that’s our current estimate.

Other sources across the web show more-or-less similar data to BLS. Here are some of them:

• Salary.com (2024): $230,982
• Indeed (2024): $247,363
• ZipRecruiter (2024): $147,232 (without bonuses, incentives, or profits shares)

The payment gap between sources isn’t that big, but it’s still there nevertheless, and that’s because of various factors.

Factors That Affect a Podiatrist’s Salary

Numerous factors impact salary, which makes it possible to gain a higher earning potential. The following are the main factors that come into play:

1. Years of Experience

You have to get started somewhere, so you can expect to earn less in the beginning as a DPM until you gain years of experience.

Then, it’s expected that you could negotiate higher salaries and/or switch positions over time to earn more based on increased experience.

Payscale.com explains that, including bonuses and overtime, entry-level podiatry physicians make $109,006 on average, compared to an experienced podiatrist who makes $196,811 on average.

2. Location

The location where you practice in the podiatry field makes a difference in terms of your salary, which is true of any occupation.

Certain states offer higher pay, and the wage may vary by area, such as the city, compared to rural practices. Discrepancies are often impacted by cost of living differences. Here are the top 10 states where podiatrists make the most:

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
Washington	$169,737	$14,144	$3,264	$81.60
Colorado	$169,279	$14,106	$3,255	$81.38
Delaware	$158,287	$13,190	$3,043	$76.10
Virginia	$155,654	$12,971	$2,993	$74.83
New York	$154,477	$12,873	$2,970	$74.27
Maryland	$153,211	$12,767	$2,946	$73.66
Vermont	$151,194	$12,599	$2,907	$72.69
Nebraska	$149,694	$12,474	$2,878	$71.97
Missouri	$149,415	$12,451	$2,873	$71.83
South Carolina	$148,259	$12,354	$2,851	$71.28

Conversely, here are the 10 bottom ones. Notice the average difference:

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
Alabama	$126,970	$10,580	$2,441	$61.04
Tennessee	$124,012	$10,334	$2,384	$59.62
Utah	$123,959	$10,329	$2,383	$59.60
Kansas	$119,735	$9,977	$2,302	$57.56
Georgia	$118,282	$9,856	$2,274	$56.87
Louisiana	$116,592	$9,716	$2,242	$56.05
Kentucky	$115,251	$9,604	$2,216	$55.41
Arkansas	$109,586	$9,132	$2,107	$52.69
West Virginia	$109,283	$9,106	$2,101	$52.54
Florida	$104,680	$8,723	$2,013	$50.33

Source: ZipRecruiter (2024)

3. Type of Practice

The setting and type of practice where a podiatrist works play a role in their salary. The BLS helps to break down this information. The following information focuses on mean annual wage:

Outpatient Care Centers

Podiatrists make a high annual income working in outpatient care centers, where they make $207,800 per year. Nonetheless, only a very small number of podiatrists currently work in this setting, so it may be difficult to get into.

Physicians’ Offices

Podiatrists who work in the practices of other physicians make more than those working in outpatient care centers but more than those working for other healthcare offices or hospitals.

The mean annual salary in this setting is $214,510, which is significantly higher than in many other settings.

Hospitals

Podiatrists perform residencies in hospitals, and they can also work as specialists in this setting. Here, podiatrists make around $164,480 a year.

The hospital could be a good place to gain experience before seeking employment through a physician’s office or outpatient care center.

Health Practitioner Offices

Most podiatrists work in the offices of health practitioners other than physicians. However, these podiatrists make less than those working in physicians’ offices or outpatient care center settings. The pay is comparable to hospitals, with the mean annual salary falling at $140,010.

Federal Government

Podiatrists make a fair average salary in federal government settings. The annual mean salary for working in this setting is $178,950.

Self-Employed

Many podiatrists are self-employed rather than working for an employer in any setting. This option provides the opportunity to have more control over your salary and can promote independence since you’re not working for someone else.

4. Number of Patients Treated

The podiatry field offers the opportunity for flexibility and life-work balance. It’s possible to work different numbers of hours each week and see varying amounts of patients.

The American Association of Colleges of Podiatric Medicine (AACPM) explains that some in this profession work less than 40 hours per week, while others work more than 50. The number of hours worked and the number of patients seen in a week will impact income.

5. Credentials

Not all DPMs have the same credentials, so this may impact salary. You could potentially earn more based on factors like increased education, such as a fellowship, additional skills and subspecialties, and certifications.

How to Increase Your Income as a Podiatrist

The previous sections show ways to make more money in the podiatry field. Simply by working in the field and gaining experience, you are likely to increase your salary over time. Nonetheless, there are other steps within your control toward earning more.

You may want to consider moving to a state or metro area that tends to pay more for this type of physician. However, it’s important to weigh the cost of living in each area with the anticipated income.

You could also consider adding credentials that command a higher salary and increasing the number of hours you work and patients you see per week, which increases billable income.

Overall, here are two of the main ways to get to a higher income level:

Change Your Career Setting

There is a significant difference in income in the podiatry field simply by the setting where you work. If you currently work in a lower-paying setting, you have the potential to gain a significant income increase by switching to a physician’s office or an outpatient care center.

This is especially worth noting since most podiatrists work in a health practitioner’s office, so there is considerable room for growth from there. If you work in a hospital, consider how bonuses could increase your income in this setting.

Another option is to become self-employed and start your own practice, which gives you control over your income potential.

Our private practice advisers can guide you in making this move and taking the right steps to make the most income. For example, some steps that can increase private practice income include:

• Purchasing a medical building rather than renting
• Following a subspecialty
• Hiring physician assistants
• Making side income by working on-call at a hospital

Read this:A Comprehensive Guide to Winning More Business and Views From Your LinkedIn Profile

Negotiate Your Contract

Negotiating your employment contract is a source of extra income for a DPM. Nonetheless, this process is easier said than done, and many professionals find it challenging. Keep in mind that doing it right can provide you with extra income throughout your career.

In addition to the income laid out in the contract, consider the duties that are necessary to earn this base income.

See if you can negotiate cutting back on extra work, such as paperwork. This can make you feel better about the compensation in relation to the workload.

Plus, you can free up time to potentially take on more work, such as seeing more patients at your practice or working on-call at a hospital. Private practice negotiations need to lay out partnership and ownership agreements.

What Else Can Be Done?

Beyond base compensation, consider extras such as cash incentives and benefits. These aspects can make a large difference to your overall income in a year.

One bonus that many physicians miss out on is the signing bonus. You can negotiate a signing bonus to be included in your employment contract, and we show you how here: How to Ask for a Signing Bonus on Your Physician Contract.

Further, make sure your employment contract includes important aspects such as insurance requirements and who is responsible, beginning and end dates, termination information, and restrictive covenants.

A Few Extra Words

Employment contracts are lengthy documents that can be difficult to process. That’s why many physicians hire a professional to review their contracts before they agree to the terms.

This course of action is definitely a wise one. Contact our team of professional legal and financial advisors to review your employment contract and protect yourself from any terms that are not in your best interest.

Our compensation specialists are able to help DPMs make sure they have the correct protective language in their contracts while they make career moves to improve their financial situation.

That’s where we come in. Contact Physicians Thrive today for help managing every aspect of your financial journey.

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