Average Physician Compensation Up Nearly 6 Percent

Between 2022 and 2023, the average compensation for U.S. physicians increased nearly 6% (5.9%), rebounding from a slight decline of 2.4% in the previous year. Physicians in the San Jose metropolitan area experienced one of the most significant surges in compensation, with an annual growth rate of 13.5%. This sizable increase propelled San Jose from being the fourth-highest metro area in average physician compensation in 2022 to claiming the number-one spot in 2023.

Notably, all ten of the metropolitan areas with the lowest average physician compensation in 2023 saw growth last year, with growth rates exceeding 10% in Baltimore, Providence, and Virginia Beach.

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