Which doctors make the most money in Canada?

Asked by: Danielle Turner  |  Last update: December 2, 2023
Score: 4.4/5 (70 votes)

Highest Paying Medical Specialties in Canada
Ophthalmology, cardiothoracic surgery, neurosurgery, and urology are amongst the highest paying specialties in Canada. These doctors can make a lot of money, considering that they provide services that are highly sought after.

What type of doctor is the highest paid?

Neurosurgery comes out on top, followed by thoracic surgery, orthopedic surgery, plastic surgery and oral and maxillofacial surgery. The specialists with the highest pay didn't necessarily see the biggest bumps in growth in 2022.

Do doctors earn more in Canada or USA?

Physicians in the US earn anywhere from $260,000 – $324,000 per annum, whereas their Canadian counterparts receive between $206,000 – $261,000.

How rich are Canadian doctors?

According to the CIHI, the average gross payment per physician in 2020 was $354,000. Family medicine doctors earned $287,000, medical specialists earned $370,000, and surgical specialists earned an average of $487,000.

Do Canadian doctors get paid more?

Since operations costs in Canada are about 20% of gross salary, the average Canadian family doctor and medical specialist took home around $225,000 and $288,000, respectively – which is a much smaller pay gap than is often implied in popular media for Canadian doctor salary vs US.

Which Doctors ACTUALLY Make The Most Money | Canada vs. USA Doctor Salaries Explained

18 related questions found

Can a US doctor practice in Canada?

Depending on the province, US trained physicians may need to obtain a provisional license allowing them to practice medicine in their specialty with clinical supervision for 12-18 months. The supervisor should hold a full license in your specialty and will review a handful of your clinical cases on a monthly basis.

Which country doctors are richest?

Surprisingly, Luxembourg is considered the most lucrative country for doctors around the world. Luxembourg is a small country in Western Europe, its population is around 632000. Luxembourg is among the top 10 countries that offer high quality of life around the world.

Which country has the richest doctor?

1: Luxembourg

A general practitioner's salary is $278,900 per year, while a specialist receives $352,300. Besides the monthly average wage, their salaries include other benefits such as transportation and housing. However, because of the country's small population, there is fierce competition for jobs among doctors.

Is Canada a good country to be a doctor?

Canada is a great country for anyone looking to become a doctor. You can enjoy the great outdoors and high quality of living. It is a country that has everything you could want out of life. Some of its best features are the lower cost of living, a high standard of living, and the atmosphere of the country itself.

Is it easier to become a doctor in Canada or USA?

Getting into medical school in Canada is considered more competitive compared to getting into medical school in the U.S. based on average MCAT scores and admissions rates.

Is it easy to move to Canada as a doctor?

Foreign doctors can practice in Canada as long as they meet the following criteria: Have an approved medical degree from a university listed in the World Directory of Medical Schools. Apply for and qualify for a Licentiate of the Medical Council of Canada.

Why do Canadian doctors move to the US?

Canadian educated physicians may go the US for specialty training and then remain there to practice. Others may emigrate seeking more career opportunities and higher remuneration. American citizens may study medicine in Canada, then return to the US for further training and to establish practice.

What state pays doctors the most?

Physicians in Wisconsin earned the highest pay over the last year on average, according to Medscape's 2023 "Physician Compensation Report" published April 14, which surveyed more than 10,000 physicians across 29 specialties.

What doctors get paid the most per hour?

Neurosurgeons have the highest hourly compensation in the country at $398 per hour, while family physicians have the lowest at $119 per hour.

What is the highest paying doctor job in America?

What are the highest-paying doctor jobs? Neurosurgeons, anesthesiologists, and general surgeons are the highest-paid doctors. According to Payscale, neurosurgeons earned an average annual salary of $421,000 as of March 2023.

Which country has the happiest doctors?

Which countries have the happiest doctors? The happiest doctors in the world are found in Denmark, Norway, and Sweden, according to a new study.

What percent of doctors are rich?

By the time physicians reach their forties, it is very possible to achieve millionaire status, with some physicians even becoming multimillionaires. This trend continues with doctors in their fifties, with 60% of physicians' worth at least $1 million.

Are there any billionaire doctors?

Nine U.S. physicians appeared on Forbes' 36th annual list of the world's richest people. The list featured 33 U.S.-based billionaire entrepreneurs, heirs, inventors and leaders in healthcare, and 2,668 billionaires all together. Below is the list of U.S. physician billionaires and their 2022 net worth.

Are doctors usually rich?

Across the board according to the 2021 physician wealth report, 56% of physicians reported a net worth of over a million. Out of family physicians, the majority become millionaires by the age of 55, with only 11% having a net worth of a million before 45.

Where are doctors most needed?

The greatest demand for doctors is in the South, where the physician shortage stands at about 31,000 doctors. Doctors are next most scarce in the Midwest, where demand outstrips supply by nearly 13,000 doctors.

What medical specialty has the most millionaires?

Specialties with the highest net worth
  • Plastic Surgery (31% of all survey respondents)
  • Orthopedics (28%)
  • Gastroenterology (25%)
  • Urology (23%)
  • Cardiology (22%)
  • Ophthalmology (18%)
  • Radiology (17%)
  • Oncology (17%)

How much does medical school in Canada cost?

In 2022, the cost of medical school in Canada and the United States has significantly increased. Public universities charge over $37,000 for one year, and private universities charge over $60,000. Non-residents pay at least $60,000 per year, regardless of whether the school is private or public.

How do I become an ER doctor in Canada?

Completion of the certifying examinations of the Royal College of Physicians and Surgeons of Canada and licensing by the provincial or territorial licensing authority are required. Four to five years of specialty residency training are required. Two years of subspecialty training may also be required.

How long is medical residency in Canada?

In Canada, Internal Medicine residency lengths are instead 4 years at minimum. Residencies for students choosing to subspecialize within Internal Medicine may spend 5 or even 6 years however.