Disparities in net worth by specialty, gender, and race persist, according to the 2024 Physician Wealth and Debt Report.
Net worth among physicians is incrementally increasing, with 60% of physicians earning over $1 million annually in 2023, up 1% from the year before. The hike is part of an upwards trend, with an overall 19% increase since 2018.analyzed survey data from 7000 practicing physicians who were recruited between October 2023 and January 2024. The respondents belonged to more than 29 specialties and were composed of almost 60% of women.
The report revealed substantial gender differences, with 66% of male physicians achieving a net worth of at least $1 million compared to around half of female physicians. The imbalance aligns with a 29% gap in average pay between genders. The higher burden of childcare responsibility, which often includes substantial costs may be partially to blame, according to W. Ben Utley, service team lead at Physician Family Advisors in Beaverton, Oregon.
Feelings about how wealth impacted their quality of life were mixed. One physician said their money allowed them to do"good things with resources," while another said"the pace and hours are killing me, so it's not a good bargain anymore."
Physician Lifestyle Medical Lifestyle Resident Lifestyle Medical Student Lifestyle Nurse Lifestyle Practice Management Revenue Neuroendocrine Tumor Neuroendocrine Tumour NET Nets Neuroendocrine Tumor (NET) Neuroendocrine Tumors (Nets) Neuroendocrine Tumour (NET) Neuroendocrine Tumours (Nets) Physician Wealth And Debt Report Physician Wealth Report
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