The 5 HIGHEST PAID medical specialties | Canadian Doctor Salary 101
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- Опубліковано 7 лип 2024
- These are the top 5 highest paid medical specialties - the Canadian doctors that make the most money per year as per the 2020 CMA data ⚡️How much do doctors make? Is going to medical school worth it financially? Are doctors rich? Do you make a lot of money in medicine? Hopefully this video sheds some light on some of these topics.
#DoctorSalary #MedicalSchool #CanadianMedicine
As a Canadian medical student, I get a lot of questions about all aspects of the medical system from students. From medical school applications and the MCAT, to residency and CaRMS, I'm filming this series on as many aspects of medicine in Canada as I can to try and help students do their own research. Deciding whether or not medical school and being a doctor are right for you takes a lot of thought and self-reflection and I'm hoping that these videos are able to help out :)
🧩 Links to information used
Canadian Medical Specialty Data: www.cma.ca/canadian-specialty...
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Nice to meet you 🤙 I'm a second year medical student at McMaster University in Ontario, Canada. I'm just trying to document my experiences throughout my medical training and beyond to hopefully help inspire/guide some other students... and make things more fun for myself :) I post a new video once per week.
Feel free to contact me on UA-cam or Instagram if you have any questions.
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Netters Anatomy Colouring Book - amzn.to/3e865pk
Netters Anatomy Flashcards - amzn.to/3cfEq3V
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Loved it as usual. Keep up the content king!
Appreciate all the love brother 🔥 thank you!
Ayye Gianluca it was great to see you on the medical school panel event!
Aha thanks Sharkie. Feel fee to say hi next time :D
Interesting video. It's worth noting that some specialties can make a lot supplementing their government billing with additional products and services. A few examples include Dermatologists and cosmetic treatments/skincare products, and Orthopaedic Surgeons selling custom knee braces (DJO, Breg, etc) at $2500 each. Both of these are specialties that are really hard to get into in Canada, because nobody wants to retire partially because of how lucrative they are.
Agreed :) There are multiple ways to supplement physician income and a few that depend on your specialty. As for things being hard to get into... its a bit more complex than that for the most part. Competition can be broken down between "matching to a residency program," vs. "finding an actual job." As an example, plastic surgery residency is a more "competitive program" statistically than general surgery residency. However, when it comes to finding a job, it is much easier for a plastic surgeon usually. In speaking with program directors and other staff, the issues of residency program spacing come down to funding, relative necessity and even input from the specialty specific regulatory bodies. Also, may surgeons and other doctors that I've met choose to stay in their fields well into their 60s and beyond because they believe that "the retired life wouldn't suit them." - to provide a direct quote.
Hope that bit of insight is interesting :)
Great video! Thank you!
Thanks Abi :D Glad you liked it!
Another banger bro ⚡️
Thank you bro. Appreciate all the support 🔥
This was another informational and interesting video as always! Could you make a video explaining the financial costs/process of applying to med school ? ( MCAT, omsas, interviews etc. )
Now there's an idea :O the costs add up really quickly but I've never tallied them up together. As a quick estimate, I'd put it somewhere around $1500 - 2000 CAD if you don't interview out of province (saves on the plane ticket) and don't get help from external companies with applications or interview prep
Loving your videos, not many youtubers provide information about doctors life in Canada. Could you please make a video about how to apply residency and practice in Canada as an International Medical Graduate? But please no pressure, enjoy your life while you're still in 2nd year of med school.
Hey Mjariin thanks for letting me know :D and glad they've helped a bit. I will be doing something like that in the future as soon as I learn a bit more about the process. Hopefully I can do it sooner rather than later
It's Near to impossible for imgs to match into Canadian Resident positions
Great video!
Thanks Sakshi :D
Thanks for this info
Lots of love from India
Glad it helped Shreya :D
As an ophthalmology hopeful in the states, I can only dream of reporting $800k+ a year! I start Pre-Med this fall, and if all goes well, I'll be an attending in 2035. At some point, I want to open a full service clinic or hospital doing everything from orthoptistry to optometry and ophtho. The more I offer in my establishment, the more I'll take home in the end.
Is there any talk in med school about preferred provinces to work in? I assume BC would be high on that list due to weather. As a canadian who has lived in many provinces, I'm curious about why the healthcare in the lower mainland seems so ..rushed. Sub par to what I'm used to. Is there any talk about this?
At least for us, there's been no such presentation as of yet. But in speaking with other students, BC is high on the list of places people want to move to work.
The problem with working in BC is that physicians there (depending on specialty) often need to consider the lost opportunity cost. Salaries for family doctors are considerably lower than in Ontario, and given BC's government, taxes are also significantly higher. So while it is a beautiful place to live, it is more expensive than other provinces.
Amazing ❤
🤙 :)
Thanks for this video , wawww that's a lotttt moneyyyyy
No problem :D and thats for sure!
Loved the video! Just out of curiosity, have you considered what specialty you might want to go into? You do a really good job of being impartial in all your videos so I'm just trying to take a crack at your thoughts haha ;)
I'm tryna keep you guys guessing ;) aha just kidding buddy - its going to be family medicine or emergency medicine for me 💪 could still go either way right now
@@nxtgenmd SOUNDS AWESOME 🔥
Nice video 😉
Glad it helped! :D
650 for cardio probably accurate. That's about where radiology starts though. Rads averages 1 million in billings in alberta. As a society we need to collect accurate numbers and consider if this is worth it.
Agree. I've become aware of the lack of information that exists even for medical students that will soon be committing to a specialty for the rest of their lives. I think that many doctors feel uneasy talking about lifestyle, salary, vacation, etc. because of the way that their patients might view them, but unfortunately this is very valuable information for students 😪
@@nxtgenmd Yeah I get the hesitation for docs to share their true earnings, but I suspect one reason is because we know we are making out like bandits. On the other hand, sometimes I don't think we let the public know how stressful and difficult it is to be a doc. It is difficult to put a value on the time of a public servant. It does stand to reason that the best and brightest will expect to earn accordingly as this is a primary motivator for most people.
Good explanation 👏👍👌😀🙌😄👏👍👌
Thanks boss 💪
Can you do a video on a comparison between doctors in USA vs in Canada in terms of salaries, lifestyle and the all over healthcare system? Really looking for some authentic comparison between these most debated two.
Definitely will buddy. Once I become a doctor this coming summer, I'll be in a better place to talk about things like salaries and give more accurate information 🤙
tengo una duda, para ser cirujano cardio thoracic primero debo de hacer cirugia general o es totalmente aparte ?
Hello Javier, from my understanding you can be a general surgeon first and then receive additional training in thoracic surgery, but the majority of cardiac surgeons do not perform appendectomies or other general surgery procedures
What Benefits Do Doctors Get in Canada?
Extended health care such as prescription drugs, vision care, dental;
Full family benefits including health and dental plan;
Semi-private hospitalization;
Life insurance;
Accidental death and dismemberment insurance;
Short and long term disability benefits;
Pension plan;
Hi! Do you know how much obgyn is? Is it considered a surgical specialty too?
It is considered a surgical specialty (just don't let the other surgeons hear you say that out loud 😅) On the CMA, it gets it's own breakdown though --> www.cma.ca/sites/default/files/2019-01/obgyn-e.pdf
Average Salary across the country is around $418,000 but I'd expect that to be an underestimation in a lot of practices
Hi sir,
I am from India can you plz tell me that if i am doing pre health science course in Canada then after completing this course what should I do...
Hi Aksk, please see my video guides for international students. thank you and good luck!
Another amazing video, Gianluca! I was wondering if you could make a video on new specalists (especially surgeons) having a hard time finding full time jobs. If one is unable to secure a job in Canada, can they work down south?
Thanks Jay, really appreciate it :) I'll definitely be sure to talk about the job market as I learn more through my coming rotations on clerkship
@@nxtgenmd Can't wait!
Nice video
Thanks :)
Hi, its great video. I have a query can a doctor who completed residency in asian country in gynae obstetrics if she has a PR in canada can apply for a fellowship over there and then work as a gynaecologist in canada after clearing MCC.
The salary of ophthalmology 800,010 still or changed in 2023?
Would you advise to go for a tab instead of a laptop for a science program ?
Hey :) Personally I think that a tablet is a good supplement to a laptop (but not really necessary in my opinion). If you were only considering 1, then I'd recommend the laptop for sure 🔥
@@nxtgenmd ohh i see......thank you soo much❤
Please what about Dentist? How much is the average salary of a dentist in Canada?
hey do doctors in Canada work only for 48weeks out of 52??
Hi brother ; i would like to ask what about radiologist in Canada :
Thank you for sharing wonderful knowledge
Hey :) I will be making a video about them in the future for sure. In the meantime, here I some additional information about them for your reading! Hope it helps
www.cma.ca/sites/default/files/2019-01/diagnostic-radiology-e.pdf
@@nxtgenmd thank you so much ᕙ( • ‿ • )ᕗ
I’m $100,000 but I’m in dangerous situations all day long and up 125 feet in the air on lifts and on swing stages I either made wrong life decisions 😆 or should have gone medical wow those some nice salaries .
Going into medicine soley for the purposed of making money will lead to disappointment. There are other careers that will serve you better if you just want to make money. Keep in mind that these are billing, and the physicians will take home roughly only 1/3 of their billing amount. Also the higher paying specialties have a rough job outlook, so they have to do multiple fellowships on top of their training to become competitive. The salary may be higher than the average but you won't be making that until you are 35, so the opportunity cost is HUGE!
Aha, I've heard that before. My dad used to work as a brick layer and always told me to find something that I enjoyed... but that didn't require me to work outside in the Canadian cold 😅
Stay safe out there buddy. Tremendous amount of respect for you guys 💪
I personally don't focus on the pay but it is interesting to see how much these people make😂
Agreed! :)
How much do oral and maxillofacial surgeons earn ??
Im a pre med and deciding between Anethesia or emergency med
But Anesthesia has higher numbers
But who knows i might change my mind during my clerkships
Almost all of my friends changed their mind about specialties during clerkship so far... some multiple times 😅
@@nxtgenmd yep my cousin is an np wanted to do radiology but changed to Primary care which is basically polar oppisites
I assume these are all private practise? What about being employed by a hospital?
The averages listed are self reported from physicians who work in private practice and hospitalists. Breakdowns can be found in the original specialty profiles on the CMA website, but this is the average across the specialty and not just private practice 🤙
Most docs are not employees, they are contractors. Earnings vary substantially, but can range from about $120 per hour to over 1000 per hour.
What about family medicine
What is the average salary of a genetic engineer or a molecular biologist in Canada. Thank you
Unfortunately I only have stats on medical doctors. Please see this link for information on MDs trained as medical geneticists www.cma.ca/sites/default/files/2019-01/medical-genetics-e.pdf 🤙
Ophthalmologist earns this by working in a government hospital or in a private clinic?
Bit of both. The breakdown of hours spent working where can be seen in the linked article on the CMA website 🤙
Love u bro from kashmir #india coming soon to canada as a doctor ❤
Thank you buddy :D Good luck with everything!
What about Neuro and spine surgeons? they are the highest paid doctors
Could you please let me know what is salary for emergency medicine?
Thank you for the video 👍
around $390,000 w/ 13% reported overhead 🤙 little difference between the 5 year EM docs and 2+1 EM docs in salary from what I've been told as well. Glad it helped :D
Here's the link if you want to read more into EM: www.cma.ca/sites/default/files/2019-01/emergency-e.pdf
@@nxtgenmd If you have not already, a video on the difference in responsibilities, capabilities, etc, between the 5 year EM docs and the 2+1 EM docs would be nice.
Does the rule of 1/3rd apply to employed specialists too? I mean specialists employed in either government or private institutions. Do you mean a specialist earning $300k actually goes home with $100k
The rule of thirds includes income, overhead and taxes. Taxes are essentially fixed for high earners and represent about 46% of your income over $220,000 in Ontario (33% federal + 13% provincial) (although some legal tax avoidance strategies can be used to try and reduce this as much as possible). Overhead also varies from specialty to specialty (ophthalmologists report roughly 40% while EM doctors report 13% for example).
We don't get paid in medical school but from doctors that I've spoken with, it seems like the rule of thirds does hold true across multiple specialties for the most part. In your example, someone billing 300K per year would indeed end up with much less to take home but the exact figure would depend on how much overhead their practice requires to sustain.
Specialists tend to bill over 300K though if they're working full-time here in Ontario 🤙
The rule of thirds is not all that accurate for specialists. For FM the overhead is typically about 1/3, but it is less for specialists. One reason is that they do more hospital based work, which means those staff expenses are already paid for. The make more, so the fraction they need for the office is less. Some specialists have no overhead at all. Ophthal and rads can have high overhead, but they over report the overhead costs.
@@omgzfuup do orthopedics have high overhead charges?? What about their working hours, do they have free time??
Is oral and maxillofacial surgeons also one of the highest medical specialty???
Hi :) This is taken from wikipedia:
In Canada, Asia, and Scandinavia (Sweden, Finland, Denmark, Norway) oral and maxillofacial surgery is also recognized as a dental specialty and requires a degree in dentistry prior to surgical residency training. The Canadian model is the same as the model used in the United States of America
Because it is a dental subspecialty, I have no information on salary available
how about radiologists salary?
subscribed
Thanks for the support buddy :D
Why is dermatology on 410 k only
Is Obstetrics/Gynecologist also one of the highest paid medical specialties?
They usually do not break the top 5 highest paid specialties on average in Canada or the US
@@nxtgenmd why is that?
@@lanzfernandez7729 Multiple factors influence why some specialists make more than others - average hours worked, compensation methods (fee for service vs capitation, etc.), cost spent on overhead, number of patients seen, etc. When the CMA last did their survey OBs averaged around $420,000 per year, which is great, but this did not crack the top 5 specialties 🤙
I hold MD in psychiatry from India and have received my permanent residence of Canada recently, Can I start practice as psychiatrist in Canada once I reach there or need to do some courses?
Hi Vishal :) If you received your PR recently, you now need to head over to physiciansapply.ca and follow their steps for an application. I believe that the MCCQE 1 exam and a few others may be required but you are best to check with the official website that I have mentioned. Best of luck
Hi im a gynecologist from india , i want to do family medicine in Canada , could you please let me know if its possible ,im 33 years old
Hi Santhosh, please seen my video talking about the process of international students/doctors coming to Canada. It is possible, but relatively difficult :)
Is this in usd or cad?
CAD
Sir this calculation is in Canadian $ or US $
Canadian doctors get paid in Canadian $ 🔥
Sir if a doctor make 1million dollars in canada what will be his net pay after taxes and overhead costs? Nice video.
Approximately 33% of what you bill according to the rule of thirds 🤙 however, there are also various tax advantages that you can take advantage of that can help bring the total closer to 50% depending on the situation (from what I've heard)
Thanks :)
What about vet medicine ??
Supposedly relatively underpaid and closer in salary to pharmacy than human medicine in Canada - but I'm not an expert in veterinary medicine
My dream is to became opthalmologist
Future dr. glaucomflecken 💪 :D
Family docs are poor by doctor standards, but the average person will still see them as rich. The real problem with family medicine is how crappy a job it is. People have no idea how stressful it is and how much work.
I think you're right that a lot of people don't really see the paper work and stress that's associated with primary care. I've spoken with doctors who say that they could never handle being in family medicine. But I've also worked with doctors who absolutely love it :) I think a lot of it is based on your personality and the type of medicine that you enjoy 🤙 But also, slight bias on my part lol. Family is high on my list for a few reasons 🔥
@@nxtgenmd if you can love going to work every day that is most important
What about neurosurgeon
What about gynaecologist?
I've linked the CMA specialty profiles in the description so you can check out the other specialties for yourself 🤙 OB didn't break top 5 in Canada, but they did have some respectable numbers too
@@nxtgenmd okayy thank you so much❤
What about ObGyn plz
please see the links in the video description for the other specialties :) OB/GYN does not make the top 5
what about dermatology
Doesn't crack the top 5 as an average 🤔
How much salary of pathology salary in Canada 🇨🇦 par month
???
Here's the link to the pathologists career information in Canada 🤙 www.cma.ca/sites/default/files/2019-01/general-pathology-e.pdf
Salary is not listed because it can be variable for this profession, but from one conversation I've had, salary can range usually from 300-400K per year (possibly more) in Ontario for full time work.
Great vid ... what you going for ? 🤑
Thanks Steve :D and unfortunately none of these aha. Looks like emergency medicine or family medicine are at the top of my list. But here's to hoping that Greenlane Renewables has a good next few years and then you and I don't need to worry about things like salary 😂🤙
@@nxtgenmd 🤣🤣 doing alright after today and looking forward to 2021 and 2022 I’m yet to find another pure rng play let alone pioneer in the industry been a great gem 💎 my friend 😀 and nice emergency medicine or family great fields as well but you had me fomo with those sexy numbers 😝👍🏻
What about a Psychiatrist?
Depends on where they work and what the practise is like - they usually are found towards the bottom of specialist salaries though unfortunately
Canadian dollars or American dollars ?
Canadian physicians --> Canadian dollars 🤙
Bro tell me about Pharmacist
Criminally underpaid according to some of my friends who are pharmacists* 😅. I believe many will start at around $40 per hour when they first start working. A quick google search puts their average salary* between $80,000-$150,000 in Ontario.
@@nxtgenmd Thanks for reply bro✌🏻
Neurologists?
Estimated $333,065 with a reported average 24% overhead 🤙 here's the link if you want to read about any other specialties www.cma.ca/canadian-specialty-profiles
Oral maxillofacial surgeons ?
Hard to know because I believe that oral maxillofacial surgeons are dental specialists 🤔 The CMA does not report their salaries in their survey but if you find out, I'd be interested to know as well 🤙
After all taxes how much will remain for surgeon per year ? And how much the life leading cost of a year ?And Normally How much Doctor can save after a year excluding all of his expenditures (like taxes and life leading cost) ? Please reply
It depends on many factors when it comes to saving money --> lifestyle and where you choose to live are among the most important. From what I've been told by surgeons, it sounds like the rule of thirds still holds true in many cases, but maybe leans towards 40-45% take home if you have a good accountant. So if you billed for say $500,000... you'd take home less than half to maybe half
How ophthalmologist that much money than neurosurgeons😳
Their procedures often take way less time to complete than other surgeries so they can theoretically bill more procedures per day! The trade-off is that they often pay much higher expenses associated with running their practice 🤔
Thanks sir
Anesthesiologist?
~ $450,000 is what's reported for them 🤙
@@nxtgenmd can you please tell the amt. Anesthesiologists take home 😃
Ayoooooooo
🤙🤙🤙
Pharmacist........can make ??
I did an entire video on all the other jobs that you can get into without doing medicine: ua-cam.com/video/4gz9qhlNkj8/v-deo.html :D Most pharmacy positions start at around $70,000 in Canada
$ 7000 but dont have time to spend😂
That's always the dilemma 😆
Great video!
Thank you! :D