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What’s The Dermatologist Salary And Compensation Today?

What’s The Dermatologist Salary And Compensation Today?

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Dermatologists are physicians who diagnose and treat patients with skin, mouth, hair and nail disorder. After finishing medical school, they need to complete a year of clinical training, plus 3-4 years of residency in dermatology. Dermatologists who decide to practice a sub-specialty are required to go through an additional year of training.

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Most dermatologists in private practices earned the highest annual salary, reporting the average compensation of $300,000 or higher. This is according to the Medscape Dermatology Compensation Report for 2011 in regards to the dermatologist salary and compensation.

Dermatologist Salary and Compensations increase depending on factors such as:

Years In Practice

During the initial year of practice, a dermatologist salary is not as lucrative. Residents do not earn doctor-like salaries. Specialty recruiting firms reported that the median salary during the first year of practice is $234,000. By the sixth year of practice, dermatologist earns average salaries of $365,450 per year. A 2011 reviews of salary found that the average dermatologist salary reaches up to $440,092.

Skills

Single specialty shared with other dermatologists, multi-specialty practices with other doctors and hospital employment are viable alternatives that dermatologist can opt as a career path. The average salary for dermatologist in a multi-specialty practice is $382,000 compared to an annual income of $157,000 when employed in a hospital.

Number Of Hours Worked

Gender plays a role in salary. A new female dermatologist may find that their male counterparts earn more than they do. A male dermatologist may earn a median pay of $300,000, while female dermatologist receives median pay of $262,500. This is mainly because women chose to work fewer hours to have more time for their families.

Location

Salaries may vary for some reasons. Some major metropolitan areas have unusually high living costs and must offer substantial salaries or benefits to compensate. Many prairie states pay higher salaries to offset the disadvantage of their relatively harsh climate. Dermatologists from the Northwest have the average annual compensation at $385,000, compared to those in other regions of the US. Those in the Mid-Atlantic region received the lowest average annual salary of $242,500.

Professional Reputation

Staffing firm Jackson & Coker reported an average salary of $327,260 for dermatologists, but an average of $65,452 in benefits raised total compensation to $392,712. Merritt Hawkins’ 2012 compensation survey found that 54%of bonuses were based on patient volumes, with 35% based on quality.

Dermatologist Salary, Compensation, And Medical Specialties

Here’s a more in-depth look at each type of dermatologist:

Pediatric Dermatologists

Pediatric dermatologists are dermatologists who specialize in the treatment of skin diseases in children, conditions such as eczema, psoriasis, warts, dermatitis or birthmarks. Many practicing pediatric dermatologists receive annual bonuses ranging from as low as $10,000 to as much as $150,000. A national average salary of $203,727 will have an increase of more than $250,000 when compensations and benefits packages are considered.

Those who are working in the academic field get an average salary of $176,661 for assistant professors and $232,375 for full time professors. A practicing dermatologist earns an average salary of $284,167 and reported a range salary between $160,000 to $475,000.

Cosmetic Dermatologist

The pay is measured by the quality of work, and not by the hour took to complete a surgery. 54% of Cosmetics Dermatologists are male and 46% are female in the United States.

Veterinary Dermatologist

They are veterinarians with advanced training in the treatment of a wide variety of animal skin diseases and disorders. Compensation may vary widely based on the level of experience in the field. It is expected that the experienced and more established dermatologist have the tendency earn larger salaries.

Indeed, the salary and compensation of a dermatologist are lucrative. This is the reason why a great number of young Americans envision a career as a dermatologist. However, it is also important to know that before one can earn hundreds of thousands a year, it is vital to go through several years of education, intense training, and additional learning to be a qualified and efficient dermatologist.

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Lynne Sampilo Lynne Sampilo is a content writer and editor for CollegeRag.net -- the central hub of information about college courses and programs, scholarships, promising career, and everything about the life of a college student.