Introduction
An ophthalmologist is a medical doctor who specializes in the diagnosis and treatment of eye diseases and disorders. Ophthalmologists complete four years of medical school, one year of internship, and three years of residency. They must be licensed to practice in the United States. Ophthalmologists use a variety of diagnostic tests, such as visual acuity tests, to detect eye problems and can prescribe medications, glasses, and contact lenses to treat vision-related conditions.
Ophthalmologists are highly skilled professionals and can earn a high salary. But how much does an ophthalmologist make? This article will explore the factors that affect an ophthalmologist’s salary, the average earnings of an ophthalmologist, and how to maximize your earning potential.
Factors That Affect an Ophthalmologist’s Income
There are several factors that affect an ophthalmologist’s income. The geographic location, years of experience, and specialization all play a role in determining an ophthalmologist’s salary.
Geographic Location
One of the most significant factors affecting an ophthalmologist’s salary is geographic location. According to a 2019 survey by the American Academy of Ophthalmology (AAO), ophthalmologists in certain parts of the United States tend to earn more than those in other regions. For example, ophthalmologists in the Northeast earn an average of $385,000 per year, while those in the Midwest earn an average of $334,000 per year. The highest salaries were reported in the South ($387,000) and the West ($386,000).
Years of Experience
Another important factor affecting an ophthalmologist’s salary is years of experience. Generally, the more experience an ophthalmologist has, the higher their salary. According to the AAO survey, ophthalmologists with fewer than five years of experience earned an average of $263,000 per year, while those with 10 or more years of experience earned an average of $370,000 per year.
Specialization
The type of ophthalmology specialization an ophthalmologist chooses can also have a significant impact on their salary. Ophthalmologists who specialize in areas such as pediatric ophthalmology, cornea and refractive surgery, retina surgery, glaucoma, and ocular oncology tend to earn higher salaries than general ophthalmologists. According to the AAO survey, ophthalmologists who specialize in cornea and refractive surgery earned an average of $506,000 per year, while those who specialize in retina surgery earned an average of $459,000 per year.
The Average Ophthalmologist’s Annual Earnings
So, what is the average ophthalmologist’s annual earnings? According to the AAO survey, the national average salary for ophthalmologists in 2019 was $360,000 per year. This figure includes both salaried and self-employed ophthalmologists.
Regional Variations
As mentioned earlier, there are regional variations in the average salary of an ophthalmologist. According to the AAO survey, the highest salaries were reported in the South ($387,000) and the West ($386,000). The lowest salaries were reported in the Midwest ($334,000) and the Northeast ($385,000).
What Does a Typical Ophthalmologist Make?
The average salary of an ophthalmologist depends on many factors, including geographic location, years of experience, and specialization. However, there are some general figures we can look at to get a better idea of what a typical ophthalmologist makes.
Average Hourly Wage
According to the Bureau of Labor Statistics (BLS), the median hourly wage for ophthalmologists in 2019 was $72.20. This figure includes both salaried and self-employed ophthalmologists.
Average Salaried Position
The BLS also reports that the median salary for salaried ophthalmologists in 2019 was $351,000. This figure includes only ophthalmologists who work in a traditional employment setting.
A Comparison of Salaries Between Different Types of Ophthalmologists
The type of ophthalmology specialization an ophthalmologist chooses can have a significant impact on their salary. Here is a comparison of the average salaries of different types of ophthalmologists:
Pediatric Ophthalmologists
Pediatric ophthalmologists specialize in treating eye problems in children. According to the AAO survey, these specialists earned an average of $406,000 per year in 2019.
Cornea and Refractive Ophthalmologists
Cornea and refractive ophthalmologists specialize in diagnosing and treating corneal and refractive disorders. According to the AAO survey, these specialists earned an average of $506,000 per year in 2019.
Retina Ophthalmologists
Retina ophthalmologists specialize in diagnosing and treating retinal diseases. According to the AAO survey, these specialists earned an average of $459,000 per year in 2019.
Glaucoma Ophthalmologists
Glaucoma ophthalmologists specialize in diagnosing and treating glaucoma. According to the AAO survey, these specialists earned an average of $436,000 per year in 2019.
Ocular Oncology Ophthalmologists
Ocular oncology ophthalmologists specialize in diagnosing and treating eye cancers. According to the AAO survey, these specialists earned an average of $382,000 per year in 2019.
How to Maximize Your Earning Potential as an Ophthalmologist
In addition to choosing the right specialty, there are a few other ways ophthalmologists can maximize their earning potential. These include additional education, subspecialty certification, private practice, and teaching.
Additional Education
Ophthalmologists can further their education by completing a fellowship program in a specialized area of ophthalmology. This additional training can help them stand out from other ophthalmologists and may lead to higher salaries.
Subspecialty Certification
Ophthalmologists can also become certified in a subspecialty of ophthalmology. This certification indicates that a doctor has achieved a higher level of expertise in a particular area of ophthalmology and may lead to higher salaries.
Private Practice
Ophthalmologists who own their own practice can potentially earn higher salaries than those who work in a traditional employment setting. Owning a practice gives an ophthalmologist more control over their income and can lead to higher profits.
Teaching
Ophthalmologists can also increase their earning potential by teaching. Teaching at a medical school or university can be a great way to supplement an ophthalmologist’s income and gain valuable experience.
Conclusion
Ophthalmologists are highly trained medical professionals who can earn a high salary. The average salary for ophthalmologists in 2019 was $360,000 per year, but this figure can vary greatly depending on geographic location, years of experience, and specialization. Specialists such as pediatric ophthalmologists, cornea and refractive surgeons, retina surgeons, glaucoma specialists, and ocular oncology specialists typically earn higher salaries than general ophthalmologists. To maximize their earning potential, ophthalmologists should consider additional education, subspecialty certification, private practice, and teaching.
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