So, Podiatrists......how much do they make.......

[emailnumber]

So i want to apply to podiatric schools, and I know I shouldnt be considered about the money, but still I would like to know how much they make. So how much does a podiatrist and a podiatric surgeon make? Also if you are a podiatrist in residency please share your annual salary on this post. Podiatrist in residency, podiatrists in private practice, group practice, surgery with X years of experience.....all of you out there share the numbers.

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[PureBlue]

If you run a search on the pod forums you will find a number of threads that are very informative on this subject.

 

[Cheetos]

So i want to apply to podiatric schools, and I know I shouldnt be considered about the money, but still I would like to know how much they make. So how much does a podiatrist and a podiatric surgeon make? Also if you are a podiatrist in residency please share your annual salary on this post. Podiatrist in residency, podiatrists in private practice, group practice, surgery with X years of experience.....all of you out there share the numbers.

They make enough + plenty more

 

[Makaveliforever]

they make b/w $20,000-5 Million give or take $10.00
Residency is b/w 30,000-60,000 give or take $2.00 Hope that helps.

I'm kidding.... just do a search but from what I know typically a resident makes roughly 40,000 and a podiatrist avg maybe 130,000 but don't quote me on that.

 

[APMAHelp]

Here are some newly released statistics for income of podiatric physicians from the 2007 APMA Podiatric Practice Survey:

1. A dramatic increase in the gross incomes of practice owners was found for 2006. The median gross income in 2006 was $400,000, compared to an estimated $275,000 in 2004.
2. A much higher percentage of members reported gross incomes over $500,000 in 2006 (37%) than in 2004 (20%) and 2001 (14%).
3. Net income in 2006 increased substantially from 2004. The median net income in 2006 was $150,000, compared to an estimated $137,500 in 2004.
4. Net income in 2006 was higher for members with high volumes of total patient visits and for members with board certification from the American Board of Podiatric Surgery (ABPS).

 

[Dr_Feelgood]

Here are some newly released statistics for income of podiatric physicians from the 2007 APMA Podiatric Practice Survey:

1. A dramatic increase in the gross incomes of practice owners was found for 2006. The median gross income in 2006 was $400,000, compared to an estimated $275,000 in 2004.
2. A much higher percentage of members reported gross incomes over $500,000 in 2006 (37%) than in 2004 (20%) and 2001 (14%).
3. Net income in 2006 increased substantially from 2004. The median net income in 2006 was $150,000, compared to an estimated $137,500 in 2004.
4. Net income in 2006 was higher for members with high volumes of total patient visits and for members with board certification from the American Board of Podiatric Surgery (ABPS).

Cool info. Have they posted these results yet? It would be nice to see them on the aacpm website.

 

[Buspar]

they make b/w $20,000-5 Million give or take $10.00
Residency is b/w 30,000-60,000 give or take $2.00 Hope that helps.

I'm kidding.... just do a search but from what I know typically a resident makes roughly 40,000 and a podiatrist avg maybe 130,000 but don't quote me on that.

 

[IlizaRob]

Here are some newly released statistics for income of podiatric physicians from the 2007 APMA Podiatric Practice Survey:

1. A dramatic increase in the gross incomes of practice owners was found for 2006. The median gross income in 2006 was $400,000, compared to an estimated $275,000 in 2004.
2. A much higher percentage of members reported gross incomes over $500,000 in 2006 (37%) than in 2004 (20%) and 2001 (14%).
3. Net income in 2006 increased substantially from 2004. The median net income in 2006 was $150,000, compared to an estimated $137,500 in 2004.
4. Net income in 2006 was higher for members with high volumes of total patient visits and for members with board certification from the American Board of Podiatric Surgery (ABPS).

I have to admit that is quite a substantial increase in averages. Why do you think that is? Were there more or less respondents in 2006 than 2004?

 

[krabmas]

I have to admit that is quite a substantial increase in averages. Why do you think that is? Were there more or less respondents in 2006 than 2004?

more respondants most likely, and it is just starting to change to 3year trained residents coming out and knowing what they are worth.

 

[NatCh]

more respondants most likely, and it is just starting to change to 3year trained residents coming out and knowing what they are worth.

It looks as if this data pertains to practice owners, so it might not take into account the high starting salaries of 3-year trained Residents.

 

[Red Head]

I think a lot of people are getting confused at the actual medium income or the range b.c they are trying to google it... if you try to look this up you will get an interesting idea of various incomes... it was bugging me as well

so be careful if you try to google or find a salary range for podiatry or anything, make sure to look at the year it came out, if it pertains to a certain state or region, salaries can be reduced for podiatrist who try to practice near a podiatry school I would assume, also a website may not be as official as others...


here's a few different examples of what I am talking about, if you try to google it. I tried to give a few from different sources, different years, regions etc... but to be honest it all depends what you do in school, where you are, what area you go into etc, etc, etc, it's that way with any occupation


http://www.bls.gov/oco/ocos075.htm

http://www.umsl.edu/services/govdocs/ooh20022003/ocos075.htm

http://swz.salary.com/salarywizard/layouthtmls/swzl_compresult_national_HC07000103.html

http://secure.salary.com/jobvaluationreport/docs/jobvaluationreport/jobsellhtmls/Physician-Podiatry-salary-job-description.html

http://www.payscale.com/research/US/Job=Podiatrist_(DP_%2f_DPM)_or_Chiropodist/Salary


I'm just showing these as examples, not endorsing one or another... some might be better then the other... just take this topic with a grain of salt

 

[NatCh]

I think a lot of people are getting confused at the actual medium income or the range b.c they are trying to google it... if you try to look this up you will get an interesting idea of various incomes... it was bugging me as well

so be careful if you try to google or find a salary range for podiatry or anything, make sure to look at the year it came out, if it pertains to a certain state or region, salaries can be reduced for podiatrist who try to practice near a podiatry school I would assume, also a website may not be as official as others...


here's a few different examples of what I am talking about, if you try to google it. I tried to give a few from different sources, different years, regions etc... but to be honest it all depends what you do in school, where you are, what area you go into etc, etc, etc, it's that way with any occupation


http://www.bls.gov/oco/ocos075.htm

http://www.umsl.edu/services/govdocs/ooh20022003/ocos075.htm

http://swz.salary.com/salarywizard/layouthtmls/swzl_compresult_national_HC07000103.html

http://secure.salary.com/jobvaluationreport/docs/jobvaluationreport/jobsellhtmls/Physician-Podiatry-salary-job-description.html

http://www.payscale.com/research/US/Job=Podiatrist_(DP_%2f_DPM)_or_Chiropodist/Salary


I'm just showing these as examples, not endorsing one or another... some might be better then the other... just take this topic with a grain of salt

I think that when those websites say "salaried podiatrists" they are referring to those who are employed by another. They are differentiating them from the self-employed.

Median annual earnings of salaried podiatrists were $94,400 in 2004. Additionally, a survey by Podiatry Management Magazine reported median net income of $113,000 in 2004. Podiatrists in partnerships tended to earn higher net incomes than those in solo practice. Self-employed podiatrists must provide for their own health insurance and retirement.

I get the feeling that many students do not yet have a clear understanding of what happens after Residency. One can either work for another Podiatrist, as a so-called Associate, and earn a salary (aka paycheck). One can also work for a large group or hospital and earn a salary. One can also become self-employed, either solo or as a Partner in a group, at which time he or she pays himself or herself a base salary, but can also pay himself or herself shareholder's dividends. An owner paying himself $120K salary may also be taking home an additional $60K in dividends, not represented when asked about "salary." There are other corporate structures too, that your CPA and business Attorney should be able to explain better than I.

In one of my previous posts I tried to explain how as a business owner one's business expenses do not count towards one's salary, yet one gets to spend it anyway.

The self-employed probably make less for the first few years of practice but then exceed what a salaried doc does, sometimes by a very large margin. The long story made short is that if you want to earn above median then you likely have to be a practice owner, either solo or as a Partner/Shareholder. Larger incomes are related to one's skill as a practitioner, because if you suck then you won't get too many patients for very long, but it more strongly correlates to the profit & loss column. How much are you collecting versus how much are you spending?

Simplified examples:
Dr. A sees a large number of patients five days each week. She collects $500,000 in a year, and has 70% overhead.
$500,000 x 0.7 = 350,000 overhead
$500,000 - $350,000 = $150,000 income

Dr. B is sees fewer patients than Dr. A, working 3.5 days per week, collects $300,000 in a year, and has 50% overhead.
$300,000 x 0.5 = $150,000 overhead
$300,000 - $150,000 = $150,000 income

Dr. C works only 3 days per week, collects $275,000 in a year, and has 40% overhead.
$275,000 x 0.4 = $110,000 overhead
$275,000 - $110,000 = $165,000 income

So even though Dr. C is seeing the fewest number of patients and is collecting less than the other two docs, he has the lowest overhead and ends up with the most income.

Nat

 

[AlleghenyPOD]

Here are some newly released statistics for income of podiatric physicians from the 2007 APMA Podiatric Practice Survey:

1. A dramatic increase in the gross incomes of practice owners was found for 2006. The median gross income in 2006 was $400,000, compared to an estimated $275,000 in 2004.
2. A much higher percentage of members reported gross incomes over $500,000 in 2006 (37%) than in 2004 (20%) and 2001 (14%).
3. Net income in 2006 increased substantially from 2004. The median net income in 2006 was $150,000, compared to an estimated $137,500 in 2004.
4. Net income in 2006 was higher for members with high volumes of total patient visits and for members with board certification from the American Board of Podiatric Surgery (ABPS).

I'm currently working and shadowing a podiatrist who just finished her residency from Temple--and recently opened her own private practice here in south jesey. She's averaging between $250k to $270k right now (this is of course the gross income--so take 25% and the remaining 75% is her net). Which in the end is reasonable--considering she's only 30 y/o and attractive at that. Then again--professionalism is mandated.

 

[cool_vkb]

Halllayluyaaaa! what a gr8 encouragement and good news for us to start the careers. Scholl has started already and so far iam having a gr8 time. So when do other 7 pod schools start?

 

[LB4Life]

Interesting! Will this be posted on the APMA website anytime soon?

Here are some newly released statistics for income of podiatric physicians from the 2007 APMA Podiatric Practice Survey:

1. A dramatic increase in the gross incomes of practice owners was found for 2006. The median gross income in 2006 was $400,000, compared to an estimated $275,000 in 2004.
2. A much higher percentage of members reported gross incomes over $500,000 in 2006 (37%) than in 2004 (20%) and 2001 (14%).
3. Net income in 2006 increased substantially from 2004. The median net income in 2006 was $150,000, compared to an estimated $137,500 in 2004.
4. Net income in 2006 was higher for members with high volumes of total patient visits and for members with board certification from the American Board of Podiatric Surgery (ABPS).

 

[SattiKariya]

Halllayluyaaaa! what a gr8 encouragement and good news for us to start the careers. Scholl has started already and so far iam having a gr8 time. So when do other 7 pod schools start?

CSPM's orientation is next week. Classes start Sept.4

 

[Feli]

...So when do other 7 pod schools start?

Barry new pod student orientation started today. Classes begin for fall semester on Monday.

<- For clinical students, we've pretty much been going non-stop

 

[Cheetos]

Orientation has been going on since yesterday at AZPOD and ends tomorrow. Classes start Monday. Looks like its bye bye SDN on monday

 

[SportDPM]

Orientation at DMU-CPMS started way back on Aug. 7th and we just had our first biochem exam on wednesday. Glad that is over with, and relived I didn't fail! Hopefully we get done sooner than the other schools.

 

[kmyprimeval]

i'm seeing all these numbers. Sounds good. I wonder how much of the income are taxable....higher income higher taxes right? cuz i know some people making that much money would invest a good percentage of their income into pretax accounts to spare their hard earnt money from disappearing. With all that said and done, how much of the income is actually left after tax?

 

[NatCh]

i'm seeing all these numbers. Sounds good. I wonder how much of the income are taxable....higher income higher taxes right? cuz i know some people making that much money would invest a good percentage of their income into pretax accounts to spare their hard earnt money from disappearing. With all that said and done, how much of the income is actually left after tax?

There are too many variables to give a meaningful number. It depends on one's personal situation, such as home ownership, business ownership, investments, children, etc. About the only thing I can say for sure is you want to own some type of business just for the tax advantages, and find a good CPA.

Nat

 

[kmyprimeval]

There are too many variables to give a meaningful number. It depends on one's personal situation, such as home ownership, business ownership, investments, children, etc. About the only thing I can say for sure is you want to own some type of business just for the tax advantages, and find a good CPA.

Nat

interesting... ok, so let's say that I'm single with no dependents..live in an apartment with no property or investments and just earn money by working for somebody. Would I just be earning half of the figures that we've seen listed on this thread? I ask because I think this would be my exact situation as soon as Im done with everything (ok, maybe throw in the 401k plan and the healthcare plan as part of investments). Maybe i should get my gf pregnant during residency, lol.

 

[kmyprimeval]

nevermind..i just answerd my own question. i just went to monster salary calculator. I did a random calculation for podiatrists in Vallejo, CA. The median base income there is around 160K. If i were to work there and was living under the exact condition as the previous post...i can make somewhere around 80k a year after taxes....and after deductions. The site allows you to mix and match the variables that affect your income.

here's the link for those who are curious:

Link

 

[NatCh]

nevermind..i just answerd my own question. i just went to monster salary calculator. I did a random calculation for podiatrists in Vallejo, CA. The median base income there is around 160K. If i were to work there and was living under the exact condition as the previous post...i can make somewhere around 80k a year after taxes....and after deductions. The site allows you to mix and match the variables that affect your income.

here's the link for those who are curious:

Link

Oh dear...Monster.com places Podiatrists under the category of Physicians. The MD students on this board might get all bent out of shape about that! It even says we need a degree in medicine! Oh the horrors!

 

[Dr_Feelgood]

Oh dear...Monster.com places Podiatrists under the category of Physicians. The MD students on this board might get all bent out of shape about that! It even says we need a degree in medicine! Oh the horrors!

 

[cool_vkb]

Oh dear...Monster.com places Podiatrists under the category of Physicians. The MD students on this board might get all bent out of shape about that! It even says we need a degree in medicine! Oh the horrors!

Oh my my! You shudnt even have said that term "Physician" at all. Now all *****s from all sides of world will come hunting for this thread and start star wars. This is gonna be good weekend show.

I think they have some kind of internet tool or search engine where they enter phrases like " physicians" or "medical school' and click on every single non-MD link picking up fights and arguments. lol! because i dont see any other way as to how non-podiatric people can find these threads in such a big SDN network.

 

[NatCh]

Oh my my! You shudnt even have said that term "Physician" at all. Now all *****s from all sides of world will come hunting for this thread and start star wars. This is gonna be good weekend show.

I think they have some kind of internet tool or search engine where they enter phrases like " physicians" or "medical school' and click on every single non-MD link picking up fights and arguments. lol! because i dont see any other way as to how non-podiatric people can find these threads in such a big SDN network.

If it gets too far out of hand we might have to hire an Attorney. You know, those folks with a JD (Juris Doctor) degree. Hey wait, they didn't go to medical school!

 

[JackieTreehorn]

Wait? Is it worth going into? The article seemed to be saying it was a small profession and not growing as quickly as it could be.

 

[cool_vkb]

If it gets too far out of hand we might have to hire an Attorney. You know, those folks with a JD (Juris Doctor) degree. Hey wait, they didn't go to medical school!

 

[APMAHelp]

The results of the practice survey that were quoted earlier, along with many others, will be published in the Journal of the APMA by the end of this year. The actual edition of the Journal has not yet been determined. The Journals are available at the colleges and online for members. Once they have been published, the executive summary will also appear on the APMA website.

 

[Red Head]

check this link out to compare podiatry to other medical professions


Salary.com’s Salary Wizard™- Do you know what you're worth?

this is pretty new and up to date (HR report as of August 2007)
according to this, it looks like the avg pod makes more than the avg pediatric, pharmacist, dentist, and some others

im not saying you should base your choice on this, just be happy with what you do and still find time for you and your loved ones

 

[cool_vkb]

check this link out to compare podiatry to other medical professions


Salary.com’s Salary Wizard™- Do you know what you're worth?

this is pretty new and up to date (HR report as of August 2007)
according to this, it looks like the avg pod makes more than the avg pediatric, pharmacist, dentist, and some others

im not saying you should base your choice on this, just be happy with what you do and still find time for you and your loved ones

I honestly think money is not that important in a profession unless you like it. I was a CNA when i first arrived to this gr8 country. I was offered $14/hr with tuition reimbursment,benefits,etc for third shift. Being an immigrant it was a very good salary. And i joined the job. In just 2 weeks i started to get tired of it and found myself in a very awkward position. I left the job and started as a cashier at a gas station for 6.25/hr. Even though salary was less but i liked being a cashier more than a CNA. Its my own choice though. So similarly if a person likes to be FM , even though salary might be less , if he is happy and satisfied thats all it matters. Simply for sake of money one could do Dermatology or Orthopedics but if he/she is really not into it i doubt he/she will ever be happy. Same with Podiatry. Yeah we make very good money (compare to all general professions) but if one doesnt like feet then i doubt he will ever be happy. he will turn out to be a disgruntled pod.

 

[OSUDDS]

I honestly think money is not that important in a profession unless you like it. QUOTE]

I like money

 

[cool_vkb]

I like money

ofcourse man who doenst like money Money is everything. but still i personally wudnt do something just because the money is good. Especially something which i will be doing for the rest of my life. I will see if i like the work and then only i will choose the field. I think i will be a good podiatrist and make decent living, thats more than enough for me. Now if we make huge money then i guess its my lukcy day that i liked and chose a profession that is 12th highest paying

 

[JackieTreehorn]

"Despite increasing demand for podiatric care, job openings for podiatrists are expected to be limited because the occupation is small and most podiatrists remain in it until they retire."

 

[Buspar]

"Despite increasing demand for podiatric care, job openings for podiatrists are expected to be limited because the occupation is small and most podiatrists remain in it until they retire."

Yeah, but there is supposed to be a surplus in the baby-boomers that are going to retire.

 

[Northerner]

Oh my my! You shudnt even have said that term "Physician" at all. Now all *****s from all sides of world will come hunting for this thread and start star wars. This is gonna be good weekend show.

I think they have some kind of internet tool or search engine where they enter phrases like " physicians" or "medical school' and click on every single non-MD link picking up fights and arguments. lol! because i dont see any other way as to how non-podiatric people can find these threads in such a big SDN network.

We *****s see everything.

 

[Feli]

We *****s see everything.

Who wants to read StepUp when you can berate pods who call themselves "medical students," right?

 

[cool_vkb]

We *****s see everything.

here we go..... The thread has been attacked. i guess we gonna have a locked thread soon.

 

[Dr_Feelgood]

here we go..... The thread has been attacked. i guess we gonna have a locked thread soon.

Everything in Hollywood has a part two.

 

[jonwill]

"Despite increasing demand for podiatric care, job openings for podiatrists are expected to be limited because the occupation is small and most podiatrists remain in it until they retire."

That is kind of a strange statement for a few reasons:

1) It is a small profession and therefore, graduating classes are relatively small so there doesn't need to be a ton of job openings yearly.

2) All people in any profession "remain in it until they retire". I think I know what you are trying to say but you have to realize that pods coming out today are practicing completely different than many of the old-school pods due to a huge disparity in training. So the fact that they may stay in podiatry until late in life has little to no effect on the new docs coming out.

 

[cool_vkb]

That is kind of a strange statement for a few reasons:

1) It is a small profession and therefore, graduating classes are relatively small so there doesn't need to be a ton of job openings yearly.

2) All people in any profession "remain in it until they retire". I think I know what you are trying to say but you have to realize that pods coming out today are practicing completely different than many of the old-school pods due to a huge disparity in training. So the fact that they may stay in podiatry until late in life has little to no effect on the new docs coming out.

 

[VenusFlyTrap]

"4-year post-graduate program at a college of podiatric medicine; and, in most States, a postdoctoral residency program lasting at least 2 years"

which states?

 

[JEWmongous]

In these days, you have the choice of either a 2 or 3 year podiatric medicine and surgery (PM and S) residency after graduating from podiatry school. The majority of programs offered are 3 year residencies. It does not matter what state you decide to practice in, you must complete at least a 2 year residency.

 

[Dr_Feelgood]

In these days, you have the choice of either a 2 or 3 year podiatric medicine and surgery (PM and S) residency after graduating from podiatry school. The majority of programs offered are 3 year residencies. It does not matter what state you decide to practice in, you must complete at least a 2 year residency.

Most state laws read "you must complete a post-graduate program" it does not specify a length of time. Since only 2 and 3 year programs exist, one must complete at least a 2 year residency. If they change to 3 and 4 year programs, then one must complete a 3 year program to practice podiatric medicine.

 

[busupshot83]

http://www.cejkasearch.com/compensation/amga_midlevel_compensation_survey.htm

 

[whiskers]

It's a middle class profession similar to lawyer, banker, family doctor, engineer and select used car salesmen etc.

The respect you get as a physician really doesn't have much to do with the mediocre income, but rather the hard work, knowledge and compassion that it embodies.

People who want to be rich in cash... and know better... do not pick medicine as a career.

 

[HenryH]

http://www.cejkasearch.com/compensation/amga_midlevel_compensation_survey.htm

Those numbers for surgical podiatrists sound great. But are they really accurate, considering they come from a "third-party" source (other than the AACPM)?

 

[El Sol]

Those numbers for surgical podiatrists sound great. But are they really accurate, considering they come from a "third-party" source (other than the AACPM)?

I would also be interested in knowing if they are accurate.

 

[FutureDocHopefl]

Man, another person that thinks Podiatry is easy and is easy money. I have shadowed some Podiatrists pal, and he earns every dollar of it because it is difficult. If you weren't concerned about money in the first place, then why even ask about it?