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Doctors Can Make $400,000, but It Takes 12 Years to Become One

Douglas A. McIntyre

Published: March 17, 2025 10:15 am

There is a fundamental compensation trade-off to get one of the highest-paid jobs in the United States. Physician specialists receive a median annual pay of $400,000, which is almost 10 times the national median. This makes it the highest-paid profession in America. The best-paid of these are anesthesiologists, gastroenterologists, and urologists.

To become a doctor with a specialty, one must complete a minimum of four years of college, four years of medical school, three to seven years in residence, and maybe a year to two as a fellow. The person willing to run this gauntlet and become an anesthesiologist becomes a member of a small club. There are only 35,000 of them in the United States.

The primary trade-off to becoming a $400,000-a-year doctor, leaving aside rich people, is the pile of student debt, which may take years to pay off. Medical student debt can run as high as $300,000. For a doctor who wants a nice home, car, and children, paying this amount could take a decade.

Another compensation advantage of becoming a doctor is a shortage of 120,000 nationwide by 2034. Only about 1,000 anesthesiologists graduate a year.

According to 50 Medical, “Anesthesiologists work in a variety of settings including hospitals, private physician offices, clinics, outpatient surgical centers or in academic or medical institutions teaching upcoming anesthesiology students.” These jobs tend to be more stable than those who work in private practices.

Is becoming an MD specialist worth the time and money? For most people who do, the answer is how long it takes to pay down their loans.

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