The average salary for orthopedic physicians reached $573,000, according to Medscape's Physician Compensation Report 2023.
Medscape surveyed 10,011 physicians across more than 29 specialties between Oct. 7, 2022 to Jan. 17.
7 things to know:
1. Orthopedics was the second highest-paying specialty, according to the April 14 report. Plastic surgery was the top-paying specialty with an average $619,000 pay.
2. Orthopedic pay grew 3 percent compared to 2022.
3. Orthopedics saw the highest average incentive bonus by a wide margin. The average bonus for orthopedic surgeons was $134,000 and followed by cardiology, which had an average bonus of $88,000.
4. Just under half of orthopedic physicians — 49 percent — felt they were fairly compensated. Psychiatry had the highest compensation satisfaction with 68 percent of physicians in the specialty saying they felt fairly paid.
5. Orthopedics had the lowest female representation. Only 10 percent of orthopedic physicians are female. Ob/Gyn had the highest female representation (62 percent), followed by pediatrics (59 percent).
6. Orthopedic physicians on average spend 52.9 hours a week working, and they spend an average 14 hours a week on paperwork and administration.
7. Orthopedics has a higher satisfaction rate compared to other specialties. Ninety-five percent of orthopedic physicians surveyed said they would choose the specialty if they had another chance.