How Much Doctors Make. Surgeons, Physicians, Psychiatrists & Others - Buy Bentyl

How Much Doctors Make. Surgeons, Physicians, Psychiatrists & Others

How Much Doctors Make. Surgeons, Physicians, Psychiatrists & Others

By Bryan Wright 16 Comments January 6, 2020


who are the best paid doctors in
Australia watch this video and find out hello I’m dr. Anthony Llewellyn I’m the
Career Doctor I help you manage your medical career right here on YouTube if
you’re liking these videos please leave a like and if you figure question or
comment leave something in the description below and if you’re finding
more than one video helpful why not subscribe and turn on notifications so
I’ve had a lot of questions based on previous videos about how much money
does an intern make how much money does a resident make can I make some more
videos about the salaries and the earnings of doctors in Australia well we
had an interesting piece of information come out this past week from the
Australian Tax Office that’s the government body that collects
all the tax and they collect a lot of statistics and they provide us some data
from the Year 2016 and 17 about the earnings of Australians and may not be
surprised to some of you to find out that doctors feature fairly highly in
there now these figures are very interesting so I encourage you to leave
a question or comment below maybe you were surprised if so let me know maybe
from another country where the figures are quite different I’ll be interested
to compare how doctors write in other countries let’s cut to the chase
doctors do extremely well in terms of how much they can earn in Australia
there’s really no way shape or form of denying it are you wondering what type
of doctor earns the most in Australia well let’s answer that question right
away and to do that I’m going to use a bit of a visual aid so you recall from
previous videos interns that’s the first year out
doctors in Australia earn somewhere between sixty eight thousand dollars and
seventy eight thousand dollars on an annual basis and then residents that’s
the second year out doctors earn somewhere between seventy-three thousand
dollars and eighty six thousand dollars annually and the reason for the
difference is the differences between how all the various states and
territories choose to or allow to pay for these particular doctors so what
about then the best paid doctors well it probably won’t surprise you to find out
the surgeons are the best paid doctors in Australia according to the Australian
Tax Office in 2016 2017 surgeons on average earn $400,000 worth of and
what’s also interesting is that surgeons are in fact not only just the best paid
doctor occupation but the best paid occupation overall in terms of income in
Australia so you see what I mean about being paid pretty well they were closely
followed by an ethos in number two with three hundred sixty seven thousand
dollars on an annual basis and then in third position we have another group of
doctors the physicians or what title is internal medicine specialists at three
hundred thousand dollars per annum even my own specialty of psychiatry comes in
at five on the top ten list at two hundred sixteen thousand dollars per
annum just picked by financial dealers at term sixty one thousand dollars and
then there’s another group of doctors called the other medical practitioners
in six at two hundred four thousand rounding out the fact that there are
five doctor categories in the top ten of earning categories in Australia and
actually eleven hundred categories so let’s take a look at this group of other
medical practitioners this is a group where the doctors in training are going
to be because in this group you have both interns and residents as well as
registrar’s we haven’t tackled them yet and the group includes training doctors
probably some specialists and some other doctors so what’s interesting about all
of this is that we’re not actually comparing apples with oranges here you
see the intern rates are pay and the resident rates are pay that I quoted you
there are based on the annual salary from the award whereas the average
taxable income for the other medical practitioners group is an overall
average and of course we know that interns and residents and trainee
doctors work additional hours and these additional hours can significantly bump
up your actual income because they’re affected by things like overtime which
is often pay at it double rate as well as things like shift work or what’s
called rates which includes some bonuses for
the hours that you actually work so if we were to look at even the intern
salary and apply some adjustments to account for overtime and penalty rates
as the main boost income it would be more realistic to come up with a figure
of around one hundred and twenty thousand dollars per annum now that is
obviously for someone working on a full-time basis so let’s look at the
intern doctors the trainee doctors as well as the surgeons how does it’s
actually compared to the average worker in Australia well according to the
Australian Bureau of Statistics the average worker in Australia earns around
sixty four thousand dollars on an annual basis it’s a little bit more if we look
like you look at full-time average earnings but this is the average of wage
taken home clearly all doctor calories do even better than the average earnings
already and then if we make a calculation around the income tax that a
surgeon might have to pay this would be around 150,000 dollars based on that
$400,000 of income which is more than double the average earnings of the
average worker so as I say doctors can do incredibly well in terms of income
now as I highlighted a little bit earlier there’s a bit of a problem
because the Australian Tax Office only gives seven different subcategories for
medical practitioners there are surgeons and Neath this internal medicine or
physician specialists psychiatrists general medical practitioners a group
called other types of specialists which is only about forty and then other
medical practitioners as I said to be fair the ATO does give over 1,100
categories from which one can select but bear in mind that people are actually
selecting their own category when they fill in their tax return or perhaps
their accountant is selecting a category for them so for example where would we
put an obstetrician and gynaecologist in these categories it’s a little bit
unclear so trying to work out for different specialties where the average
earnings are is a little bit hard now if you’re wondering how much a general
practitioner might earn well they are mainly in the group of general medical
practitioners and whilst third out of the top ten they’re probably not too far
off according to the ATO their average rate of earning is around one hundred
and forty thousand dollars per annum now I want to emphasize here that we’re
actually just talking about average earnings and I’m gonna show you why it’s
entirely possible that specialists in Australia can earn a lot more than the
average earnings even if we look at the rates of pay for specialists in the
public health system working as a salaried doctor if we look at the state
of New South Wales such doctors can earn somewhere between two hundred thirty
four thousand and four hundred sixty two thousand dollars per annum now of course
that is working on a full-time basis and it firstly depends on how senior you are
as well as the arrangement in terms of splitting any particular private
Billings that you may collect on behalf of the hospital but of course some
specialists actually work almost entirely or in fact entirely in the
private system working in private hospital
and private rooms if we apply the Australian Medical Association rates for
some of the services that these specialists provide to patients and and
assume that a specialist is working on a full-time basis it’s entirely possible
for specialists to make $750,000 a year even a million even more dollars than
that on an annual basis we do have to take you into account when you’re
considering private earnings there are also a lot of expenses that you yourself
have to pay for so that will reduce the take-home pay quite significantly now
you might have a lot of questions or comments about the information that I am
providing you in this video I’ve actually written a more extensive blog
post which I will drop a link to in the description below but I’d be interested
in getting a comment from you in relation to were you surprised about the
amount of money some doctors earn does it if you’re from another country does
it how do these figures compare so there you go that’s how much doctors earn in
Australia of course that’s just a broad-brush of some of the information
that we have I actually go into a little bit more detail in the blog post that
relates to this video I’ve dropped a link to that in the description below
love to hear a comment or a question if there is bits of this that you want
further explanation or detail on and we didn’t really go into things like
superannuation didn’t go into things like overtime very much didn’t really go
into the costs sometimes or the expenses that are incurred when you’re working
particularly for yourself or in fact some of the deductions that you can
claim that can lower your tax so if you’d like to see another video in this
sort of sphere please let me know as well look forward to seeing your
comments and questions please subscribe if you’re in the vicinity of New South
Wales or Sydney on the 29th of June and you want some help with your job
application preparation please come to our workshop and I will see you in the
next video bye for now

16 Comments found

User

Career Doctor

Do these figures check out for you Y / N ?

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User

sahil vidi

keep up the videos, very informative 🙂

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User

Rachel S

Really interesting to see the spread of potential earnings. I wish I managed to earn 120k as an intern.

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User

thg78574

Very informative. I am a Internal Medicine Hospitalist. Working of a national hospitalist company (TeamHealth, Sound, etc), most hospitalists earn around $240K per year. This is rounding on 15 -20 patients per day. As an "independent contractor" or working with a private group, hospitalists can make $300-$500+ K per year depending on the census/patient load. In my area (Austin, Tx) an Internal Medicine doc in a private group practice probably makes $200-300K. Pediatricians are making 20% less than the above. Like Australia, most surgical specialties (General surgery < Ortho < Neurosurgery) are making > $500K. I started navigating the Australian certification process, but the $10K put things on hold. Thank you for all the videos you make. Mario Ayala from Austin, Tx.

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User

Rob Park

Interestingly GP salaries can’t be easily compared. They are by far the most diverse group in terms of earnings. Most full time GPs usually make 250-300k per annum. However, a large group work either part time, in Aboriginal health services, Headspace etc – for much lesser pay. Thus, GP salaries are often much higher than reported.

Of even more confusion, the highest paid GPs often own their practices – and their tax is often rolled into their businesses – making their taxable income appear significantly less than it would actually be.

Thus, might want to make clear that the number for GPs is probably the most variable and likely under-rated.

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User

Deepak Martin Tomy

How much is the tax we have to pay while working as an IMG in Australia?
Starting from interns to surgeons.

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User

Sriman Ramanuj

Very much hurt to see you've added only HINDI subtitles to attract Indian viewers. But only few states of India speak Hindi. Others have different languages. E. G. Mine is Bengali

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User

kumar thapa

how many government sheet are opened for psychatric doctor

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User

Yusuf Moosa

How difficult is it to get a job as a specialist in the private sector compared to the public sector ?

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User

Pakesh Baishya

How much an anatomic pathologist can make?

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User

ivan damara

Hi Anthony, I’d like to ask about the possibility of IMG on standard pathway to get into residency program in Australia

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User

aafif ali

In china interns arnt paid and we get tossed from 1 teacher to another and sometimes have 36 hour shifts lol but we do get to learn and observe alot of operations and procedures

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User

akshay thakur

What about radiology and dermatology?

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User

Cristian Valdivieso Porras

AUD or USD?

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User

Md Deloar Hoshen

Could you kindly please shed some light on salary of a gastroenterologist?

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User

Hermie

How about ophthalmologists?

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