6% of US-trained physician have a net worth of $5M+

Practice Management

Becoming a reputable physician takes years of training and experience. However, in return, physicians are often generously compensated.

Medscape surveyed more than 20,000 physicians in over 29 specialties to publish its Physician Wealth and Debt Report, which gains insight into physician money management and savings.

Here's what you need to know.

1. U.S.-train physicians have higher net worth than foreign-trained physicians. Around 6 percent of U.S.-trained physicians are worth more than $5 million while 3 percent of foreign-trained physicians are.

2. Thirty-eight percent of U.S.-trained physicians are worth between $1 million and $5 million while only 30 percent of foreign-trained physicians are worth the same.

3. However, 55 percent of U.S.-trained physicians are worth less than $1 million and 67 percent of foreign-trained physicians have the same net worth.

4. On the flip side of high net worth values, many physicians face large amounts of student debt. In 2016 the average medical student was $190,000 in debt.

5. Orthopedic surgeons are among those who are still paying off student debt, lowering night worth values. Currently, 31 percent of orthopedic surgeons are paying off loans.

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