Orthopedists, Medicine's Top-Earning Doctors, Feel Underpaid
Orthopedists, Medicine's Top-Earning Doctors, Feel Underpaid
Those of a materialist mindset might think that earning top dollar in one's profession would be an ego satisfaction in its own right, wholly apart from the purchasing power that it affords. That may be true of investment bankers and hedge fund managers, but it doesn't appear to be true of physicians in general, and it certainly isn't true of orthopedists, if our 2015 survey is any guide.
In overall career satisfaction, orthopedists only ranked 11th out of the 26 specialties surveyed. Among those with higher rates of career satisfaction were psychiatrists, rheumatologists, infectious disease specialists, and pediatricians, who rank at or near the bottom in physician compensation.
When asked if they had to do it all over again whether they would choose medicine as a career, 50% of the orthopedists queried said yes. However, this ranked them second to last among their colleagues; only radiologists (49%) were less enthusiastic about medicine as a career choice. Family physicians (73%), rheumatologists (72%), and internists (71%) ranked first, second, and third, respectively, among doctors who would choose medicine again if they had another chance. All were among the lowest-ranking physicians in earnings.
While orthopedists ranked second to last among doctors who would choose medicine again as a career if given another chance, they ranked second from the top among all physicians in their readiness to choose the same specialty. Fully 67% of orthopedists who would choose medicine again as a career would choose orthopedics as their specialty; only dermatologists (73%) were more enthusiastic about their choice of specialty. But then, dermatologists also ranked number one among physicians in overall career satisfaction.
Perhaps part of the reason that the percentage of orthopedists who would choose orthopedics again is so high concerns their relationships with patients and the gratitude that patients show them for their efforts. This factor was ranked number one among both male and female orthopedists (42% vs 45%) we queried in answer to the question "What is the most rewarding aspect of your job?" Among all doctors, only 32% of men and 31% of women felt the same.
Next in importance among orthopedists was "Being very good at what I do/Finding the right answers/diagnoses," which 31% of men and 33% of women found rewarding. Among all physicians, the percentages were similar: Regardless of specialty, approximately one third of men and women (34% and 31%, respectively) ranked "Being very good at what I do" rewarding.
As for orthopedists feeling superior because they earn more than other physicians, our latest survey results put that notion to rest. "Making good money at a job that I like" ranked fourth in importance among both male and female orthopedists (7% and 8%, respectively), as it did among all physicians, both male and female (11% and 8%, respectively). Eleven percent of male orthopedists ranked "Knowing that I'm making the world a better place" higher than making good money, although only 5% of female orthopedists felt the same.
If this would seem to suggest that female orthopedists are less compassionate and more money-focused than their male counterparts, it shouldn't. It's more likely due to small sample size. According to the American Academy of Orthopaedic Surgeons, there were just over 28,000 practicing orthopedists in its database in 2014. Of those, only 5% were female.
Is Being Number One Gratifying to the Ego?
Those of a materialist mindset might think that earning top dollar in one's profession would be an ego satisfaction in its own right, wholly apart from the purchasing power that it affords. That may be true of investment bankers and hedge fund managers, but it doesn't appear to be true of physicians in general, and it certainly isn't true of orthopedists, if our 2015 survey is any guide.
In overall career satisfaction, orthopedists only ranked 11th out of the 26 specialties surveyed. Among those with higher rates of career satisfaction were psychiatrists, rheumatologists, infectious disease specialists, and pediatricians, who rank at or near the bottom in physician compensation.
When asked if they had to do it all over again whether they would choose medicine as a career, 50% of the orthopedists queried said yes. However, this ranked them second to last among their colleagues; only radiologists (49%) were less enthusiastic about medicine as a career choice. Family physicians (73%), rheumatologists (72%), and internists (71%) ranked first, second, and third, respectively, among doctors who would choose medicine again if they had another chance. All were among the lowest-ranking physicians in earnings.
While orthopedists ranked second to last among doctors who would choose medicine again as a career if given another chance, they ranked second from the top among all physicians in their readiness to choose the same specialty. Fully 67% of orthopedists who would choose medicine again as a career would choose orthopedics as their specialty; only dermatologists (73%) were more enthusiastic about their choice of specialty. But then, dermatologists also ranked number one among physicians in overall career satisfaction.
Perhaps part of the reason that the percentage of orthopedists who would choose orthopedics again is so high concerns their relationships with patients and the gratitude that patients show them for their efforts. This factor was ranked number one among both male and female orthopedists (42% vs 45%) we queried in answer to the question "What is the most rewarding aspect of your job?" Among all doctors, only 32% of men and 31% of women felt the same.
Next in importance among orthopedists was "Being very good at what I do/Finding the right answers/diagnoses," which 31% of men and 33% of women found rewarding. Among all physicians, the percentages were similar: Regardless of specialty, approximately one third of men and women (34% and 31%, respectively) ranked "Being very good at what I do" rewarding.
As for orthopedists feeling superior because they earn more than other physicians, our latest survey results put that notion to rest. "Making good money at a job that I like" ranked fourth in importance among both male and female orthopedists (7% and 8%, respectively), as it did among all physicians, both male and female (11% and 8%, respectively). Eleven percent of male orthopedists ranked "Knowing that I'm making the world a better place" higher than making good money, although only 5% of female orthopedists felt the same.
If this would seem to suggest that female orthopedists are less compassionate and more money-focused than their male counterparts, it shouldn't. It's more likely due to small sample size. According to the American Academy of Orthopaedic Surgeons, there were just over 28,000 practicing orthopedists in its database in 2014. Of those, only 5% were female.
