General Practitioners

Physicians, as a group, have among the highest annual earnings of all occupations. The average salary for all first-year medical residents was $66,712 in 2024, according to the Association of American Medical Colleges. The median annual income for general practitioners was $224,640 in May 2023, according to the U.S. Department of Labor. The lowest paid 10 percent earned $68,890 or less annually. General practitioners with established patient bases and reputations can earn significantly higher salaries. Salary.com reports that 10 percent of physicians in internal medicine earned $311,387 or more in November 2024.

Those affiliated with a group practice generally make more than those in solo practice, and those who are self-employed may earn considerably more than salaried employees do. A general practitioner's income may be affected by years of experience and tends to peak between the ages of 56 and 65.

Physicians who are self-employed must provide their own insurance coverage. Those who are employed by an HMO, clinic, or other organization may receive a benefits package including insurance and paid time off.