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  • Life - Health & Wellness
  • Updated: October 25, 2023

Ten Highest Paying Countries For Doctors

Ten Highest Paying Countries For Doctors

The market for healthcare services worldwide grew at a 6.3% CAGR from 2022 to reach around $8 trillion in 2023. With a 5.3% CAGR, the industry is expected to reach around $10 trillion by 2027. 

A 2018 study found that physician incomes in the US and other OECD nations differ significantly. 

While specialists in the US made an average of $316,000, far more than the OECD average of $182,657, generalist physicians in the US made an average of $218,713, compared to an OECD average of $133,723. 

Physician burnout is one of the most prevalent phenomena among doctors, even with their high pay. 

With a significant increase from 38% to 63% of physicians reporting at least one burnout symptom between 2020 and 2022, burnout has reached concerning proportions.     

Methodology

To list the highest-paying countries for doctors, we identified the countries with the highest demand or shortages for doctors and made a list of the top ten countries with the average salaries for physicians.

The ten countries with the highest average salaries were selected and have been ranked. 

We acquired the data for average physicians’ salaries for each country from the ERI Economic Research Institute. The list is presented in ascending order. 


10. Ireland

Average Salary: $175,088

As the new academic year approaches, about 20% of GP training spots in Northern Ireland remain unfilled. The Department of Health provided funding for 121 positions, however only 99 junior doctors were accepted. 

The British Medical Association voiced concern about general practice's future. 

As older general practitioners retire, the doctor shortage may grow. In 2023, it will be one of the highest-paying countries for doctors. 


9. Canada

Average Salary: $182,619

Canada is experiencing a serious doctor shortage, with several million individuals in need of a family physician or regular health clinic access. 

According to one research, there would be a shortfall of 30,000 family doctors by the end of the decade. 

To remedy this, Canada needs an increase in medical school graduates and residency places, as well as the acceptance of foreign-trained physicians. 

 

8. New Zealand

Average Salary: $186,569


Because of underinvestment in healthcare facilities and medical experts, New Zealand requires more doctors. 

The country significantly relies on foreign-trained doctors, with international medical graduates (IMGs) accounting for 42% of the workforce. 

 

7. United Arab Emirates 

Average Salary: $190,730

To apply for a job as a doctor in the UAE, you must achieve specified standards based on a tiered system depending on your education and ethnicity. 

Top-tier candidates have credentials such as CCT, CCST, or American/Canadian Board Registration, which entitles them to prompt licencing. 

While GMC specialised registration and some UK Fellowships are considered in tier 1, people with qualifications mentioned at the top tier are usually given preference. 

 

6. Denmark

Average Salary: $193,627

Denmark has an amazing healthcare system in which doctors are highly compensated and treated with the highest respect. 

The financial pay of GPs, unique patient identifying numbers for full patient management, and structured funding contracts with the government are credited with Denmark's healthcare system's performance. 

It is one of the highest-paying countries in Europe for doctors. 


5. Iceland

Average Salary: $195,559

Because of the country's healthcare needs, now is an excellent moment to explore becoming a doctor in Iceland. 

Individuals from non-EU/EEA countries must follow the regular processes for acquiring work visas. 

The acknowledgement of their degree and professional credentials is the most significant stage in the process. 

General practitioners should have an MD or a similar degree, whereas specialists should begin their employment hunt early. 

It is recommended that they contact the clinic or hospital where they want to work to get their certifications recognised in Iceland. 

In Iceland, admission to medical school requires a Bachelor's degree, a residency programme, and clinical tests.


4. Australia

Average Salary: $198,338

One of the most compelling reasons to consider working as a doctor in Australia is that there is a significant need for physicians in locations outside of large cities, and Rural Workforce Agencies may aid in locating appropriate opportunities. 

Furthermore, overseas medical graduates who work in priority areas, frequently in regional, rural, or remote places, benefit from talent recognition, cheaper living expenses, welcoming communities, and increased career prospects. 

Financial incentives are available for those in remote regions through the General Practice Rural Incentives Program


3. Luxembourg

Average Salary: $250,697

The Luxembourg healthcare system is facing a crisis as many physicians, including experts in several medical specialities, are slated to retire during the next 11 years, with up to 90% of neurologists in need of replacements. 

According to a 2019 research published by the Health Minister, at least two-thirds of doctors in 18 specialities would retire by 2034. In 2021, the country had just three physicians per 1,000 residents. 

 

2. United States

Average Salary: $266,558 

America is experiencing a rising scarcity of geriatricians or doctors who specialise in care for the old. 

The need for geriatric medicine is increasing as the number of elderly individuals in the population grows, with roughly 25% of North Americans and Europeans expected to be over 65 by 2050. 

However, the quantity of geriatricians in the United States is insufficient to fulfil this need. 

It is also one of the countries with the highest number of physicians. With average earnings of $512,200 and $446,250, respectively, cardiothoracic surgery and radiation oncology are two of the highest-paid medical specialities in the United States.

 

1. Switzerland

Average Salary: $268,935

Switzerland, like many other nations, is suffering a serious doctor shortage, with Swiss medical authorities warning of imminent healthcare catastrophes owing to insufficient doctor training. 

Yvonne Gilli, president of the Swiss Medical Association, has frequently emphasised the importance of increasing medical school placements and improving working conditions to attract and retain young physicians. 

She also proposes extending the working life of experienced doctors to alleviate the shortfall. The highest-paying country for doctors is Switzerland.  

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