How Much Money Do Podiatrists Make?
According to career information posted on CollegeGrad.com demand for podiatrists is increasing. Doctors of Podiatric Medicine enjoy reasonable working hours, clean and quiet working areas and above average incomes. Higher incomes depend on the location of the practice.
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Location
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The Scholl College of Podiatric Medicine at Finch University reports that podiatrists will find larger numbers of prospective patients in retirement areas because older people tend to have age-related foot problems. With more prospective patients the potential is greater for larger practices and higher incomes.
Starting Out
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It is difficult and expensive to start a new practice following medical training. The Bureau of Labor Statistics states that most graduating DPMs will find more opportunities by beginning practice in a medical group. Salaried podiatrists earn a median income of $94,400 plus benefits according to a survey by Podiatry Management Magazine.
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Private Practice
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Operating a private podiatry practice means running a small business. It requires hiring employees, keeping records of employees and patients, ordering supplies and renting office space. This may be offset by larger income potential and some control of personal time. The same Podiatry Management Magazine survey placed median net incomes for private practitioners at $113,000 in 2004.
Top Earning Podiatrists
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The Salary Wizard at Salary.com estimates the lower 25 percent of DPMs earn a net income of $120,000 and median net incomes of $156,000. The field's top earning DPMs earned net incomes of $200,000 or more.
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References
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