SAN FRANCISCO, Calif., December 19, 2017 -- Doximity, the largest social network for physicians and advanced practice clinicians, today released a new research study on the 2017 labor market for doctors. By studying physician job opportunities and compensation data, the report found significant job advertisements and compensation growth, analyzing 20 of the largest metropolitan areas and 15 common medical specialties.
This report, drawn from a sample of more than 12,000 physician job advertisements nationally, details the parts of the country and which medical specialties have the highest demand for physicians. Compensation growth was drawn from 40,000 self-reported compensation surveys.
“2017 saw another explosive national debate around the funding of healthcare for Americans. What was less controversial, but arguably as important, was the growing pressure on medical labor markets nationally,” said Nate Gross, M.D., co-founder of Doximity. “Doctors caring for patients is the heart of our system, and we continue to see a big uptick in demand for physicians across the country. This backs up other studies pointing to the possibility of physician shortages moving forward. And in the short-term, we’re seeing an impact on physician compensation in our data.”
Key findings from the study include:
- Nationally, physician compensation grew by 5.1 percent.
- Physician job advertisements have grown year-over-year in 10 large metropolitan areas. However, even within metro areas within the same state, there can be variation between physician demand across markets. San Francisco saw a 42 percent growth, while there was 1 percent growth in Los Angeles.
- Physician compensation has grown in 10 large metropolitan areas, but despite the overall trend being up, there were several metro areas where physicians saw either declining or flat compensation growth.
- Among 10 common medical specialties analyzed, physician job postings have increased overall. Geriatrics saw the most growth, at 164 percent, compared to a 23 percent increase in cardiology.
“Changes in physician job postings and compensation growth were correlated, suggesting that the growth in demand may be due to increased demand for physicians in these areas,” said Christopher Whaley, Ph.D., lead author and adjunct professor at the University of California, Berkeley School of Public Health. “As the demand for physicians shifts across geographies and specialties, this report offers physicians insight into where their best professional opportunities may be.”
Detailed findings include:
METROS WHERE DOCTORS ARE SEEING THE BIGGEST PAY RAISES
- San Francisco: 16% compensation growth
- Indianapolis: 14% compensation growth
- Los Angeles: 13% compensation growth
- Philadelphia: 11% compensation growth
- Milwaukee: 10% compensation growth
- New York: 8% compensation growth
- Minneapolis: 8% compensation growth
- Pittsburgh: 8% compensation growth
- Seattle: 7% compensation growth
- Boston: 7% compensation growth
MEDICAL SPECIALTIES MOST IN DEMAND
- Geriatrics: 164% job growth
- Urology: 49% job growth
- Oncology: 45% job growth
- Hematology: 39% job growth
- OB-GYN: 31% job growth
- Gastroenterology: 27% job growth
- Occupational Medicine: 26% job growth
- Endocrinology: 25% job growth
- Neurosurgery: 25% job growth
- Cardiology: 23% job growth
METROS WHERE DOCTORS ARE MOST IN DEMAND
- Boston: 72% job ad growth
- San Francisco: 42% job ad growth
- Chicago: 36% job ad growth
- Washington, D.C.: 23% job ad growth
- New York: 21% job ad growth
- Denver: 12% job ad growth
- Seattle: 4% job ad growth
- Philadelphia: 2% job ad growth
- Miami: 2% job ad growth
- Los Angeles: 1% job ad growth