Anesthesiology is one of the higher paid medical specialties. Anesthesiologists play a critical role in healthcare, administering anesthesia to patients undergoing surgery or other painful procedures. Their job requires a high level of education, skill, and responsibility. So do anesthesiologists really get paid a lot of money relative to other physicians and careers? Let’s take a deeper look at anesthesiologist salaries, job outlook, and factors that impact their compensation.
What is the average anesthesiologist salary?
According to the Bureau of Labor Statistics (BLS), the average annual salary for anesthesiologists in the United States is $271,440 as of May 2021. This puts anesthesiology solidly among the highest paid medical specialties along with surgery, radiology, and orthopedics.
To provide more granular salary ranges, here is a table of anesthesiologist salary statistics from the BLS:
| Percentile | Salary |
|---|---|
| 10th percentile | $115,670 |
| 25th percentile | $191,970 |
| Median annual salary | $267,020 |
| 75th percentile | $333,820 |
| 90th percentile | $397,990 |
As you can see from the table, even anesthesiologists at the 10th percentile of income make over $115,000 annually. The field provides high earning potential, with the top 10% of anesthesiologists making over $397,000 per year.
The middle 50% of anesthesiologists have salaries ranging from about $192,000 to $334,000. Very few medical specialties provide such consistently high wages across all experience levels.
Anesthesiologist salary vs other physicians
Compared to other physician salaries, anesthesiologists are very well compensated. Here is a table comparing average salaries of some common medical specialties:
| Medical Specialty | Average Salary |
|---|---|
| Anesthesiology | $271,440 |
| Surgery | $260,750 |
| Obstetrics/gynecology | $238,320 |
| Psychiatry | $220,380 |
| Internal medicine | $210,960 |
| Pediatrics | $188,320 |
| Family medicine | $214,370 |
Anesthesiologists make significantly more on average than internal medicine physicians, pediatricians, psychiatrists, and family medicine doctors. They earn salaries comparable to surgeons, generally considered one of the highest paid medical specialties.
The relatively high wages for anesthesiologists reflect the advanced skills required, high stress working conditions, and direct responsibility for patient safety during surgery and procedures.
Anesthesiologist salary vs other careers
Even compared to many non-medical high income careers, anesthesiologists fare very well in compensation. Here’s a table comparing average anesthesiologist pay to some other top earning occupations:
| Occupation | Average Salary |
|---|---|
| Anesthesiologist | $271,440 |
| Software developer | $110,140 |
| Financial manager | $134,180 |
| Architect | $82,320 |
| Engineer | $95,300 |
| Accountant | $77,250 |
| Pilot | $130,440 |
Anesthesiologists make substantially more than many white collar professionals including engineers, accountants, financial managers, and software developers. Their compensation exceeds that of airline pilots, another career requiring extensive training and high stakes work.
Overall, anesthesiology provides very lucrative salaries compared to the great majority of occupations.
Anesthesiologist job outlook
In addition to high current salaries, the job outlook for anesthesiologists is very positive. According to the BLS, demand for anesthesiologists is projected to grow 11% from 2020 to 2030. This is much faster than the average for all occupations, as the healthcare industry continues expanding to serve the needs of an aging population.
Over 41,000 jobs are expected to be added for anesthesiologists in the next decade. Ongoing surgical volume and the increasing number of minimally invasive procedures requiring anesthesia will drive demand. Healthcare reform and expanded insurance coverage are other factors likely to fuel anesthesiologist job growth.
With the limited number of new anesthesiologists trained each year, the field should see very low unemployment combined with competitive wages. This makes anesthesiology an appealing choice for those considering medicine as a career.
Factors impacting anesthesiologist salary
While anesthesiology salaries are uniformly high, there are a number of factors that can impact how much an individual earns. Some of the key factors include:
Years of experience
Like most medical specialties, anesthesiologist compensation tends to increase significantly with experience. Those just completing residency typically earn salaries around $250,000, while veteran anesthesiologists with 10+ years experience often make $350,000 and up.
Subspecialty
There are a number of recognized subspecialties within anesthesiology that require additional fellowship training. These include critical care medicine, pediatric anesthesiology, pain management, and cardiac anesthesiology.
Subspecialists generally earn higher pay than general anesthesiologists. According to Medscape’s physician salary report, the average salary for anesthesiologists subspecializing in pain management is $407,000.
Geographic location
Where an anesthesiologist practices impacts their earning potential. Those working in large metropolitan areas and the Northeast/West coast generally have the highest pay. Rural and smaller city anesthesiologists tend to make somewhat less.
Here are the geographic regions with the highest average anesthesiologist salaries according to the BLS:
| Region | Average Salary |
|---|---|
| Pacific region (AK, CA, HI, OR, WA) | $304,000 |
| Middle Atlantic (NJ, NY, PA) | $290,000 |
| New England (CT, MA, ME, NH, RI, VT) | $283,000 |
Anesthesiologists working in more rural and lower cost regions like the South Central, Southeast, and Midwest make between $220,000 to $270,000 typically.
Employment setting
The majority of anesthesiologists work in hospitals, either as employees or as part of private practice groups. Those working in hospital settings tend to earn slightly less than anesthesiologists in single specialty private practices.
According to Medscape, anesthesiologists employed by hospitals make an average of $358,000. Those in private practice earn $386,000 on average.
Anesthesiologists working in academic medicine as professors or researchers generally have lower clinical salaries in the range of $200,000 to $300,000. However they have the opportunity to supplement their income through teaching and publishing.
Procedural volume
Within their employment setting, anesthesiologists who provide anesthesia for a higher number of complex surgeries and procedures will generally have higher compensation. Those handling trauma operations, open heart surgery, transplants and other intensive procedures can negotiate higher pay.
Employer type
The type of facility an anesthesiologist works for impacts pay. In general, anesthesiologists working for large hospital systems and universities make somewhat less than those at privately owned surgical centers and specialty hospitals that cater to insured patients.
Anesthesiologists working for Kaiser Permanente in California for example earn around $350,000 on average. Those working for prestigious university hospital systems like UCLA and Stanford earn comparable salaries.
In contrast anesthesiologists working at highly profitable orthopedic hospitals and cosmetic surgery centers often make closer to $450,000 annually or more.
Anesthesiologist salaries over career
Given the strong job market and continually increasing demand for anesthesiology services, compensation for anesthesiologists tends to rise steadily over the course of a career. Here is an overview of typical earning potential:
Residency – During the 3-4 years of anesthesiology residency required after medical school, salaries range from $50,000 to $65,000. These are considered training rather than fully practicing years.
Starting salary – Just after completing residency, new anesthesiologists typically earn between $250,000 to $300,000 depending on their geographic region and practice setting. Rural hospitals and smaller practices pay on the lower end while prestigious urban hospitals pay more.
5 years experience – Once established in their careers, anesthesiologists with 5 years experience usually earn around $300,000 to $350,000 on average. Compensation rises gradually during these years with accumulation of skills and demand.
10 years experience – Anesthesiologists who are mid-career with a decade of experience often earn salaries in the range of $350,000 – $400,000. Many supplement their clinical work by supervising residents and taking leadership roles.
Late career – Well established anesthesiologists in the later phases of their careers tend to earn over $400,000. Those with administrative positions, fame in academic medicine, and relationships with high volume prestigious hospitals may make over $500,000 annually.
The high job security and reliable salary growth make anesthesiology an appealing profession for the long-term.
Conclusion
In summary, anesthesiology is one of the most lucrative medical specialties with average salaries exceeding $270,000 annually. Anesthesiologists rank near the top in physician pay, and their compensation compares very favorably to other high income occupations.
The job outlook for anesthesiology is extremely strong, as demand from the healthcare system surpasses the number of new anesthesiologists graduating each year. Geographic region, subspecialty, employment setting, and procedural volume all impact salaries significantly. But overall, anesthesiologists at all stages of their careers are very well compensated relative to education requirements and job responsibilities. If a high salary is a priority in a medical career, anesthesiology is undoubtedly one of the best options to consider.