How much does a pediatrician make? One of the most rewarding careers in medicine is being a pediatrician and the smile on the child's face when the pain is gone is priceless. Nevertheless, apart from the satisfaction, pediatricians take home a satisfactory pay so if you are wondering how much does a pediatrician make, here is the math.
As per the data analysis by Merritt, Hawkins and Associates, an HR company the annual pay of full time pediatricians begins at $100,000 to $160,000 while the medical economics magazine reported after intensive study that details a range of $60,000 to $400,000 for doctors that increased their working hours to help more patients for longer hours as compared to part time working doctors. If you are planning a career as a pediatrician, in addition to knowing about the earning potential, it would be rewarding to know how much efforts you'll need to put in and the work profile. As a doctor in any field, the satisfaction of seeing a patient get well and walk out disease free is priceless.
However, when it comes to the annual salary, experience and academic background counts the most while the state where you are employed, the location of employment are other factors that need to be considered. But with every passing year and more experience, salaries increase. However, the highest change in average remunerations comes in after five years of full time practice as earning improve constantly. Location matters so if you have a job in California or Florida, you'll be able to earn the highest pay – $125,000 in CA and $122,000 in Florida.
Here is a chart that provides detailed information about how much does a pediatrician make:
Industry And Annual Wages
Health care industry- $96,800–$142,019
Pediatric clinic- $100,051–$142,430
Medical Office- $98,960–$141,200
Medical services- $99,250–$143,700
Most pediatricians with specialization in neonatology, cardiology, orthopedic care, emergency services earn higher than $120,000 annually as compared to a general pediatrician, according to US Department of Labor. But those employed in general practice or community health care programs have a scale of around $105,000 annually. But if you are more interested in knowing about the hourly pay with experience, here is the fact sheet:
Experience And Hourly Wages
Less than 1year $10- $45
1-4 years $46.6- $71.02
5-9 years $49.13-$70
10-19 years $51.39- $91.19
20 years and more $59.75- $84.50
As per the available statistics of 2010, the median pay scales of a pediatrician will average to about $112,000 annually. Though the salary usually starts from $55,000-$100,000 per year, it usually depends upon the quality of resume, location, employer and experience. As time progresses say 10 years, you'll be able to make more than $150,000 annually. Most of the pediatricians fall in the group that takes home a salary of $121,000 to $170,000 every year. Nearly all doctors enter the working arena after putting in 14 years of hard work and have debts to clear, but as you gather experience, pay increases!