If you’re a doctor (or thinking about becoming one), you might be wondering—can a physician really make $1 million a year? The short answer? Yes. But it’s not easy.
Let’s break it down.
How Do Doctors Make $1 Million?
Most doctors don’t make $1 million per year, but some do. Here’s how:
1. Choose the Right Specialty
Not all specialties pay the same. If you’re aiming for high earnings, here are some of the top-paying fields:
- Neurosurgery – $800K to $1.5M+
- Orthopedic Surgery – $600K to $1.2M
- Plastic Surgery – $500K to $1M+
- Cardiology – $500K to $1M
- Anesthesiology – $400K to $800K
The more specialized and in-demand your skills are, the higher the paycheck.
2. Work More Hours (or Take More Cases)
Most doctors work 40-60 hours a week. But if you’re willing to push past that, take on extra surgeries, shifts, or cases, your income can skyrocket.
3. Own Your Own Practice
Running your own private practice means no cap on your earnings. You can hire other doctors, see more patients, and scale your business.
4. Do Locum Tenens Work
Locum tenens (travel physician work) lets doctors pick up high-paying contracts, often earning $200-$500 per hour—sometimes even more! Many physicians use locum work to boost their income fast.
5. Add Extra Revenue Streams
Smart doctors don’t just rely on seeing patients. They build multiple income streams, such as:
- Speaking or consulting gigs
- Opening a med spa or wellness clinic
- Investing in real estate
- Writing books or online courses
Is It Worth It?
Making $1 million as a doctor is possible, but it takes sacrifice. Long hours, extra work, and smart financial moves are key. If you want it, you have to go after it.
Final Thoughts
If your goal is to hit seven figures, focus on:
- High-paying specialties
- More cases & hours
- Owning your practice
- Locum tenens for extra cash
- Investing & creating multiple income streams
Want to explore high-paying locum tenens jobs? Check out PhysicianWork and start earning more today!