Fifteen specialties reported pay drops from 2023 to 2024, according to Medscape’s Physician Compensation Report 2025.
Dermatology experienced the biggest decline, followed by neurology and urology. Physicians cited multiple reasons for the pay drops, including CMS pay cuts for hospital-based physicians and economic uncertainty tied to political and regulatory challenges, which spark organizations to tighten their budgets.
Medscape surveyed 7,322 physicians who responded between Oct. 3, 2024 and Jan. 15, 2025. Overall, physicians reported a 3.6% compensation increase. But the following specialties reported decreases:
- Dermatology: -11%
- Neurology: -6%
- Urology: -6%
- Plastic surgery: -4%
- Cardiology: -4%
- Ophthalmology: -4%
- Gastroenterology: -3%
- Rheumatology: -3%
- Orthopedic surgery: -3%
- Pulmonary medicine: -3%
- Oncology: -2%
- Public Health and preventative medicine: -2%
- Emergency medicine: -1%
- General surgery: -1%
- Pediatrics: -1%
