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Salary of a Doctor

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Antell, Gerson, & Harris, Walters. Economics: Institutions and Analysis, Third Edition. New York: Amsco School Publications, Inc., 2001:182. "Table 8.2
Median Weekly Earnings, 1999
Physicians $1,266"
Physicians and Surgeons. Medical Group Management Association, Physician Compensation and Production Report, 2003.
Table 1. Total compensation of Physicians by Specialty; 2002
Anesthesiology $306,964
Surgery, general $255,438
Obstetrics/Gynecology $233,061
Internal medicine $155,530
Pediatrics/Adolescent medicine $152,690
Psychiatry $163,144
Family Practice $150,267
"AMA: Doctors' income still rising." Managed Care. (June 1998). "The American Medical Association' annual physician income survey shows that, an average, doctors are making close to $200,000 a year." $200,000
Terkell, Studs. Hard Times. New York: Pantheon Books, 1970: 80. "I just came across a bankbook that I had between 1931-1934, and, by God, I was in those days making $2,000 a month." $24,000
Enzmann, Dieter R.Surviving in Health Care. St. Louis, Missouri: Mosby-Year Book., 1997: 98. "Perhaps because of persistent high salaries ($186,000 average physician compensation in 1994) there is little public sympathy for the physician's current plight." $186,000

Doctors play a major role in our health. They are the individuals who are licensed to practice medicine. There are many different types of doctors. There are ones that heal us by prescribing us the accurate medicine to heal the discomfort in our body. There are ones that are specialized in working on surgeries within our body, such as the brain and the heart. There are ones that we go to if we feel that we have a psychological disorder, a disruption in our behavior and mind. And since the day we were born, we have always been in the hands of a doctor. But have you ever wonder how much doctors' make for a living?

The income of doctors varies for different types of doctors but their annual salary have been increasing year after year. According to Dr. David J. Rossman a psychiatrist during the time of the Great Depression, doctors made approximately $2000 a month, and about $24,000 a year. The average salary of the doctors these days can range from $150,000 for a general doctor, $163,000 for a psychiatrist and $255,000 for a general surgeon. The salary difference from the Great Depression until now is approximately 7 times more. However there are reasons for the high salaries these days. First, doctors are in training until they are around 30 years old. Before becoming a doctor, students are required to attend medical school to get a doctorate permitting them to practice medicine but this causes high education loan by the time they finish school. Doctors have a great deal of responsibilities for the life and health of each of their patients. Also, doctors have to pay for the highly cost of insurance.

Even though visiting the doctor can be costly, we still go. This is because we want to hear the fact from a professional, someone who knows what is really wrong. As individuals, we can feel there is something wrong, but what. Then the importance of the doctor comes into play since they are specially trained for these situations.

Tiffany Yam -- 2004