Why such high pay? Doctors are valued and highly trained: they are deserving of an income that reflects this. And arguably, as a country's health and wealth rises, so should doctors' pay.
The average surgeon salary in Australia is $195,096 per year or $100 per hour. Entry-level positions start at $131,545 per year, while most experienced workers make up to $203,729 per year.
Across the board according to the 2021 physician wealth report, 56% of physicians reported a net worth of over a million. Out of family physicians, the majority become millionaires by the age of 55, with only 11% having a net worth of a million before 45.
The median surgeon who responded to our 2022 annual survey earned between $500,000-$1 million, and more than 13% of respondents earned more than $1 million per year.
The highest-paid specialty in Australia is surgery, with an average income of around $400,000. Specialty surgeons (like neurosurgeons and ophthalmologists can earn over $500,000). Surgery is followed by anaesthetics and internal medicine (which are all in the over $300,000 bracket).
In Australia, the standard full-time working week is between 35-40 hours.
Pediatric infectious disease has the lowest compensation of any physician specialty, according to Doximity's "2021 Physician Compensation Report" released Dec. 16.
Nine U.S. physicians appeared on Forbes' 36th annual list of the world's richest people. The list featured 33 U.S.-based billionaire entrepreneurs, heirs, inventors and leaders in healthcare, and 2,668 billionaires all together. Below is the list of U.S. physician billionaires and their 2022 net worth.
The highest-paid doctors in the US are in surgical specialties such as plastic surgery, neurosurgery, or orthopedic surgery and report earning over half a million ($500,000) per year on average.
Based on our latest GP salary survey (December 2021), the average GP salary in Australia is $253,000 for GPs who work 7 or more sessions per week (full-time). The annual General Practitioner salary for part-time GPs, working 6 sessions or less per week, amounts to an average of $194,000 pa.
A surgeon's shift may be anywhere from 12 to 28 hours long. In emergency situations or public health crises, their shifts may be longer. To make up for their long shifts, surgeons often work less than six days a week, with an average weekly schedule of four days.
Anesthesiologists regularly take breaks during operations, whereas surgeons do so more rarely.
Becoming a Surgeon in Australia requires many years of formal training. You will need to complete a medical degree and gain experience working in a hospital before starting specialty postgraduate training. Complete an accredited medical degree such as a Bachelor of Medical Studies / Doctor of Medicine.
The average wage of doctors in Australia sits somewhere between $100,000-$400,000 (we wrote more about this here). That's an incredibly wide range, so let's try to break it down further. Indeed reports the average wage for a general practitioner in Australia is $224,507 or $147 per hour.
Also, when you consider their experience, surgeons can expect to earn more annually. For example, the average salary for surgeons with experience between 10 and 19 years is approximately AU$200,000 per year. In contrast, those with over 20 years of experience earn up to AU$350,000 per year.
Some physicians in private practice can earn as much as $600,000 per year. A specialist doctor's salary in Australia can vary based on the location. Western Australia is the highest-paying state for consultants and senior doctors with the average senior doctor salary close to $300,000.
Most people in the upper-middle class strata are highly educated white collar professionals such as physicians, dentists, lawyers, accountants, engineers, military officers, economists, urban planners, university professors, architects, stockbrokers, psychologists, scientists, actuaries, optometrists, physical ...
The average full salary in Australia is $77,135 per year or $39.56 per hour. Entry-level positions start at $59,463 per year, while most experienced workers make up to $130,000 per year.