Why Should Doctor’s Salary Matter?
Choosing a career as a Medical Doctor is an easy decision. You might have a genuine passion for helping sick people recover, and that’s commendable. However, let’s address the elephant in the room – your financial well-being as a doctor.
While your primary motivation may be providing care, it’s essential to consider the financial aspects of the profession. Understanding the salary trends and earning potential can help you make informed decisions about your future.
If you’re a recent medical graduate planning to practice in Canada, knowing the average doctor’s salary is crucial. Knowing this will help you estimate whether it can cover your expenses, including student loans, and allow you to maintain a fulfilling lifestyle.
So, let’s delve into the details and explore the average medical doctor’s salary in Canada, including specialty-based variations and regional differences.
Average Medical Doctor Salary in Canada
Numerous factors influence the earnings of medical doctors in Canada. These factors include the location of practice, specialization, patient volume, involvement in private practice, and the doctor’s career progression.
According to the Canadian Institute for Health Information (CIHI), Canada’s average medical doctor salary stands at $282,000 for general practitioners, $360,000 for medical specialists, and $480,000 for surgical specialists as of 2018.
Average Medical Doctor Salary in Canada by Location
The average doctor’s salary in Canada varies across different provinces. Here’s an overview of the average medical doctor’s salary by location:
Alberta: Leading the Pack
Alberta boasts the highest average medical doctor salary in Canada. With an annual average of $384,380 and a monthly average of $32,031, doctors in Alberta enjoy substantial financial rewards. The allure of higher wages attracts numerous physicians to practice in this province every year.
Ontario: A Hub of Opportunities
Ontario, with its large population, offers significant opportunities for medical professionals. Ontario’s average medical doctor salary is $360,000 per year, equivalent to $30,000 per month. However, it’s important to note that doctors are not allowed to disclose their earnings publicly.
Manitoba: Transparency and Compensation
In Manitoba, doctors are considered public sector employees. As a result, the provincial government mandates that doctors report their earnings annually. Manitoba’s average medical doctor’s salary is $354,705 annually, amounting to $29,558 monthly.
Quebec: Aligning with the Average
Doctors in Quebec earn an average salary of $325,000 annually, consistent with the national average. However, some physicians feel their income is excessive and propose redistributing it among other healthcare professionals.
New Brunswick: Comfortable Earnings
In New Brunswick, medical doctors earn an average salary of $302,123 per year. Although this figure is lower than that in Ontario, it provides a satisfactory standard of living. Some doctors earn well beyond the average, with yearly incomes surpassing $1 million.
Prince Edward Island: Additional Earnings Opportunities
In Prince Edward Island, doctors receive an average salary of $305,091 annually. Physicians in this province can work additional hours for extra compensation, following a fee-for-service model. This system allows doctors to earn substantial amounts, with some practitioners crossing the $1 million mark.
Saskatchewan: Government Regulations
Doctors in Saskatchewan face certain restrictions due to government control over their earnings. The provincial government also limits the amount doctors can charge for services covered by insurance companies. Despite these limitations, doctors in Saskatchewan earn an average of $288,995 per year.
British Columbia: Specialized Insights
The government of British Columbia publishes the Bluebook, a document containing information about the salaries of medical doctors based on their specialties. The average annual wage for doctors in this province is approximately $273,000, amounting to $22,750 monthly.
Newfoundland: Petitioning for Better Compensation
In Newfoundland, doctors earn an average of $269,646 annually, which is comparatively lower than other provinces in Canada. Many physicians have expressed concerns that this income is insufficient to cover various living expenses comfortably. Consequently, they have petitioned the government for a salary increase.
Nova Scotia: The Lowest Average Salary
Doctors in Nova Scotia receive the lowest average salary in Canada, amounting to $259,368 per year. Although this figure is higher than salaries in other professions, it remains lower than the earnings of doctors in other provinces.
Average Medical Doctor Salary in Canada by Specialty
Specialties in Medicine offer different earning potentials. While all areas of medical practice are vital, some things have higher salaries than others. Here are the average medical doctor salaries in Canada based on things, as reported by the CIHI:
- Ophthalmology: $749,000
- Thoracic/Cardiovascular Surgery: $600,000
- Neurosurgery: $521,000
- Urology: $481,000
- General Surgery: $452,000
- Otolaryngology: $438,000
- Anesthesia: $434,000
- Orthopedic Surgery: $426,000
- Internal Medicine: $400,000
- Obstetrics/Gynecology: $394,000
- Dermatology: $387,000
- Plastic Surgery: $377,000
- Neurology: $313,000
- Pediatrics: $299,000
- Physical Medicine: $279,000
- Family Medicine: $277,000
- Psychiatry: $273,000
As per the data, ophthalmology stands out as Canada’s highest-paying medical specialty, with an average salary of $749,000. Some ophthalmologists even earn over $1 million annually.
Frequently Asked Questions about Average Medical Doctor’s Salary in Canada by Specialty
How Much Do Doctors Make in Canada in 2024?
The CIHI still needs to release data on the average medical doctor’s salary for 2024. However, based on previous reports, doctors earn an average of $282,000 annually, ranging from $188,000 to $560,000.
What is the Average Doctor’s Salary in Canada per Hour?
The remuneration of Canadian doctors is not based on hourly rates but rather on a fee-for-service model. According to the CIHI, the average charge per service is $47 for a family doctor, $82 for a specialist, and $89 for a surgical specialist.
What is the Average Doctor’s Salary in Canada per Month?
Doctors in Canada earn an average of $23,500 per month.
What is the Average Doctor’s Salary in Canada per Year?
As mentioned earlier, the average annual salary for doctors in Canada is $282,000.
In conclusion, understanding the average doctor’s salary in Canada is crucial for medical professionals, especially those starting their careers. By considering location, specialty, and career choices, doctors can make informed decisions that align with their financial goals and personal aspirations.