Millennials in plastic surgery, oncology and hematology had the highest percent of physicians receiving pay increases in the past year, an Aug. 15 Medscape report found.
Medscape’s “Modest Gains, Lingering Strain: Medscape Millennial Physician Compensation Report 2026” surveyed 5,916 across 29 specialties between Sept. 5 and Dec. 17. The report includes physicians, specialists and primary care providers. Millennials account for people born between 1981 and 1996. They have been the largest generation in the U.S. workforce for about a decade, according to the report.
The report found that 67% of millennial physicians believe they are underpaid. Millennial physicians were more likely to get a raise in the past year (54%) than doctors born before 1981 (35%).
Millennial physicians in the Midwest are the highest paid by region, earning an average annual salary of $389,000, compared to physicians in the West at $368,000, physicians in the North at $356,000 and physicians in the South at $351,000.
Here are the percentage of millennial physicians by specialty reporting on how their pay has changed in the last year.
Editor’s note: The percentages do not always equal 100% due to rounding.
Allergy and immunology
Pay increased: 51%
Pay remained the same: 37%
Pay decreased: 11%
Anesthesiology
Pay increased: 58%
Pay remained the same: 32%
Pay decreased: 10%
Cardiology
Pay increased: 54%
Pay remained the same: 33%
Pay decreased: 13%
Critical care
Pay increased: 54%
Pay remained the same: 37%
Pay decreased: 9%
Dermatology
Pay increased: 60%
Pay remained the same: 32%
Pay decreased: 8%
Diabetes and endocrinology
Pay increased: 61%
Pay remained the same: 30%
Pay decreased: 9%
Emergency medicine
Pay increased: 58%
Pay remained the same: 31%
Pay decreased: 11%
Family medicine
Pay increased: 59%
Pay remained the same: 27%
Pay decreased: 14%
Infectious diseases
Pay increased: 52%
Pay remained the same: 44%
Pay decreased: 4%
Internal medicine
Pay increased: 50%
Pay remained the same: 44%
Pay decreased: 6%
Nephrology
Pay increased: 60%
Pay remained the same: 30%
Pay decreased: 10%
Neurology
Pay increased: 44%
Pay remained the same: 48%
Pay decreased: 8%
OB-GYN
Pay increased: 51%
Pay remained the same: 28%
Pay decreased: 21%
Orthopedics and orthopedic surgery
Pay increased: 48%
Pay remained the same: 37%
Pay decreased: 16%
Ophthalmology
Pay increased: 59%
Pay remained the same: 31%
Pay decreased: 11%
Oncology and hematology
Pay increased: 66%
Pay remained the same: 34%
Pay decreased: 0%
Otolaryngology
Pay increased: 57%
Pay remained the same: 31%
Pay decreased: 13%
Pediatrics
Pay increased: 43%
Pay remained the same: 41%
Pay decreased: 16%
Physical medicine and rehabilitation
Pay increased: 45%
Pay remained the same: 48%
Pay decreased: 7%
Plastic surgery
Pay increased: 71%
Pay remained the same: 22%
Pay decreased: 7%
Psychiatry
Pay increased: 60%
Pay remained the same: 25%
Pay decreased: 15%
Pulmonary medicine
Pay increased: 57%
Pay remained the same: 28%
Pay decreased: 15%
Radiology
Pay increased: 58%
Pay remained the same: 33%
Pay decreased: 9%
Rheumatology
Pay increased: 56%
Pay remained the same: 37%
Pay decreased: 7%
Surgery, general
Pay increased: 55%
Pay remained the same: 27%
Pay decreased: 17%
Urology
Pay increased: 42%
Pay remained the same: 35%
Pay decreased: 23%
Other
Pay increased: 48%
Pay remained the same: 37%
Pay decreased: 15%
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