The key to forming the right business strategy as a healthcare institution is to have the correct information. Since human resource is at the core of the performance of any business or organization, learning about the latest salaries will help your business strategy. If you are in New Jersey, New York, or Philadelphia, this salary guide features data and input collected from recruiters, employers, and healthcare professionals working in these states. The numbers combine real-world highlights to guide your institution in hiring or retaining top talent and paying them competitively.
Doctors Salary Guide for 2023
Doctors are among the most educated professionals in the healthcare industry. However, there are many disciplines within the industry, and their salaries often vary greatly. The many variations of salaries within disciplines and fields also depend on the experience of the professional and where they are licensed to work.
The COVID pandemic had a great impact on the salaries of all healthcare professionals. However, doctors were the most affected – with the salaries of some of the professionals stagnating even post-pandemic period and others skyrocketing. Problems such as staff shortages, extreme burnout, and overworking contributed to the fluctuation of doctor’s salaries in New Jersey, New York, Philadelphia, and other states.
Comparing the salary trends across disciplines, anesthesiologists are among the best-paid specialist doctors in all three states. They earn average annual salaries of $355,000, $427,000, and $399,000 in New Jersey, New York, and Philadelphia consecutively. Their high salary can be attributed to the fact that their specialty is integral before, during, and after surgical procedures. Some experienced anesthesiologists earn as much as $500,000 to $800,000 per year because of the high demand for their services.
Other professional doctors whose salaries average over $250,000 across the three states are surgeons, psychiatrists, and Oncologists. On average, surgeons are the highest-paid healthcare professionals across the country, with the highest earners charging over $1m per year. In particular, general and orthopedic surgeons are the most highly paid because their services are constantly in high demand in emergency procedures and the sporting industry, respectively.
Professionals in psychiatry have seen their average salaries shoot up over the past decade mainly because their areas require specialized doctorate degrees.
Oncologists have seen their base salaries rise by as much as 2% since 2021 and are projected to exceed 40% over the next decade as the American population ages.
In 2023, the average salary of dermatologists in New Jersey, New York, and Philadelphia will exceed $270,000, all due to the high demand for experts in skin conditions. In addition, for the most part, most Americans require specialized procedures, even for superficial skin biopsies, which drives the demand and procedural revenues for dermatologists.
Neurologists and Urologists
Neurologists and urologists have traditionally been some of the most highly-paid healthcare professionals in the United States. Their salaries in 2023 will average between $200,000 and $300,000 in all three states, although fluctuations in demand and other factors may influence how much top practitioners and experienced professionals charge.
The average salary for general physicians varies slightly across the three states. On average, New York general doctors earn over $200,000, while New Jersey and Philadelphia come close at over $190,000. Because their services are essential, their salaries tend to fluctuate with demand. On average, the salary of a general physician has stagnated with the start of the post-pandemic period and may change little in 2023.
Some doctors who earn an average of between $100,000 and $200,000 in all three states include radiologists, ophthalmologists, pathologists, pediatricians, dentists, and optometrists. Their salaries are typically pegged on specialization, geographical regions, and demand for their services. The average salary of a dentist may rise much higher than other professionals because as the population ages, there is a higher demand for dentists as well.
Other Professionals’ Salary Guide for 2023
The average salaries of other professionals in the healthcare industry have risen consistently over the years. The year 2023 will be the same for most of them in New Jersey, New York, and Philadelphia.
Optometrists, nurse practitioners, and pharmacists are among the most highly salaried professionals after doctors. As a rule of thumb, the starting salaries for these professionals are much lower than their average salaries. However, the more experience a professional acquires, the higher salaries they expect.
On average, nurse practitioners, pharmacists, and physicians get paid the highest salaries in New Jersey and the least in Philadelphia. New York has recorded the highest average salaries for physician assistants than New Jersey or Philadelphia.
Table Comparison for Healthcare Professionals’ Salaries in NJ, NY, and PA
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When making an informed decision during hiring, salary plays a significant part in attracting top talent, but it is by no means the only consideration. However, by comparing the average salaries, the competition offers, and understanding market trends, a healthcare institution will stand a better chance of attracting and retaining top talent.
This detailed salary guide for healthcare professionals in 2023 will help your organization better strategize, recruit, and retain the human resources it needs. If you need further information on what it may take your organization to make the best talent in the market work for you, go to VitalisConsultingUS.com and get advice on staffing and recruitment from experienced professionals.