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According to the 2023 Medscape Compensation report, which reported neurologists with an average salary of $313,000 per year.
This number is also supported by the U.S Bureau of Labor Statistics 2022 wages report, which reports Neurologists with an average salary of $255,510.
The BLS also provides some additional salary stratification based on the type of industry a neurologist is working in.
For example, according to BLS, neurologists working in outpatient care centers had an average annual salary of approximately $406,000. In contrast, those working in Physician offices earned approximately $258,000, and neurologists working in general medical and surgical hospitals earned approximately $251,000.
Are Neurologists Average Salary Increasing or Decreasing?
Neurologist salaries are increasing from the previous years, but the rate at which they are increasing hasn’t been catching up to inflation.
Most professions want their salary to increase at a larger rate than inflation. In 2022, the US economy experienced a 4.7% inflation rate, but according to a 2023 Medscape report, neurologist salaries only increased by 4%.
Specifically, neurologists reported earning an average salary of $301,000; in 2023, that number increased to $312,000 annually. This is an increase of 3.65% increase from 2022.
There are only a handful of other specialties that are increasing at a lower rate than neurologists, according to the report: oncology, gastroenterology, anesthesiology, radiology, urology, plastic surgery, and pulmonary medicine.
In contrast, specialties such as otolaryngology, gastroenterology, and dermatology all had salary increases greater than 10%.
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Do Neurologists Receive Incentives or Bonuses?
Yes, neurologists, like many physicians, receive incentives and bonuses.
In 2022, the average annual incentive compensation for neurologists was $29,000. This was the second-lowest incentive compensation of any specialty reported.
Some top-earning specialties, such as orthopedics, earned an average incentive salary of $126,000.
As a percentage of salary, neurologists received incentive compensation that was approximately 10% of their annual salary. In comparison, physicians in orthopedics earned an incentive compensation of 23% of their total salary.
Do Neurologists take extra work for additional income?
Yes, the latest compensation report of 2023 shows that 43% of neurologists take some extra work to supplement their income. This can include other medical work, non-medical work, additional hours at their primary job, or medical moonlighting.
Do Neurologists feel fairly compensated?
Only 51% of neurologists feel fairly compensated in 2023. To put this into perspective, only 52% of physicians feel fairly compensated regardless of specialty. However, there were some specialties that had a much larger percentage of physicians who felt fairly compensated, such as dermatologists at 65% or urologists at 58%.
Out of the 29 specialties, neurologists ranked as the 13th highest when it came to feeling fairly compensated, falling in line with the average physician.
Factors Affecting Neurologist’s Salary
Experience Level
As with any position, a neurologist’s experience influences their salary.
An entry-level neurologist will earn less than someone with more training, experience, and skills.
There isn’t much data to show how the salary of a cardiologist evolves as they gain more experience. However, if we use Salary Experts database report, we can come up with the following median annual salary at different levels of experience:
Entry Level – $215,000
Mid-Career – $323,000
Experienced – $424,000
As an entry-level neurologist, you are likely earning half or less than half the average national salary. But, as neurologists gain more experience, they can expect a $100,000 increase in salary or more.
Finally, neurologists can expect to earn near the average annual salary and potentially more as they enter the middle of their careers.
A late-career neurologist can expect to earn an additional $100K in salary due to their experience and seniority.
Location
Where you decide to practice radiology will influence your salary. This is not a phenomenon unique to radiologists but to all physicians.
A recent study by Doximity found that the average physician salary in the highest earnings metro area was approximately $431,000, and the lowest metro area was $342,000. This is nearly a $100,000 difference in average salary based solely on location. To analyze pay differences by location, we are going to use ZipRecruiter salary reporting. While ZipRecruiter’s numbers are slightly different than those of Doximity and Medscape numbers, we can use ZipRecruiter as a proxy to show which states pay higher salaries than others.
| State | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
|---|---|---|---|---|
| New York | $413,043 | $34,420 | $7,943 | $198.58 |
| Pennsylvania | $378,217 | $31,518 | $7,273 | $181.84 |
| New Hampshire | $369,842 | $30,820 | $7112 | $177.81 |
| New Jersey | $364,235 | $30,352 | $7,004 | $175.11 |
| Wyoming | $360,302 | $30,025 | $6,928 | $173.22 |
| Washington | $359,812 | $29,984 | $6,919 | $172.99 |
| Wisconsin | $357,234 | $29,768 | $6,869 | $171.75 |
| Massachusetts | $357,224 | $29,768 | $6,869 | $171.74 |
| Alaska | $356,287 | $29,690 | $6,851 | $171.29 |
| Oregon | $353,401 | $29,450 | $6,796 | $169.90 |
| Indiana | $352,839 | $29,403 | $6,785 | $169.63 |
| North Dakota | $352,754 | $29,396 | $6,783 | $169.59 |
| Hawaii | $345,903 | $28,825 | $6,651 | $166.30 |
| Arizona | $345,544 | $28,795 | $6,645 | $166.13 |
| New Mexico | $343,395 | $28,616 | $6,603 | $165.09 |
| Colorado | $341,124 | $28,427 | $6,560 | $164.00 |
| Minnesota | $341,038 | $28,419 | $6,558 | $163.96 |
| Montana | $340,336 | $28,361 | $6,544 | $163.62 |
| Nevada | $336,880 | $28,073 | $6,478 | $161.96 |
| Albama | $336,086 | $28,007 | $6,463 | $161.58 |
| South Dakota | $333,390 | $27,782 | $6,411 | $160.28 |
| Vermont | $332,854 | $27,737 | $6,401 | $160.03 |
| Rhode Island | $327,336 | $27,278 | $6,294 | $157.37 |
| Iowa | $323,409 | $26,950 | $6,219 | $155.49 |
| Delaware | $322,975 | $26,914 | $6,211 | $155.28 |
| Connecticut | $322,377 | $26,864 | $6,199 | $154.99 |
| Viriginia | $319,240 | $26,603 | $6,139 | $153.48 |
| Mississippi | $317,930 | $26,494 | $6,114 | $152.85 |
| Tennessee | $317,618 | $26,468 | $6,108 | $152.70 |
| Utah | $315,985 | $26,332 | $6,076 | $151.92 |
| Illinois | $315,033 | $26,252 | $6,058 | $151.46 |
| Georgia | $313,085 | $26,090 | $6,020 | $150.52 |
| Maryland | $313,021 | $26,085 | $6,019 | $150.49 |
| California | $312,076 | $26,006 | $6,001 | $150.04 |
| Nebraska | $307,014 | $25,584 | $5,904 | $147.60 |
| Maine | $305,597 | $25,466 | $5,876 | $146.92 |
| Missouri | $303,338 | $25,278 | $5,833 | $145.84 |
| South Carolina | $300,357 | $25,029 | $5,776 | $144.40 |
| Kansas | $299,264 | $24,938 | $5,755 | $143.88 |
| Idaho | $297,943 | $24,828 | $5,729 | $143.24 |
| Louisiana | $297,752 | $24,812 | $5,726 | $143.15 |
| Oklahoma | $297,319 | $24,776 | $5,717 | $142.94 |
| Texas | $295,397 | $24,616 | $5,680 | $142.02 |
| North Carolina | $294,158 | $24,513 | $5,656 | $141.42 |
| West Viriginia | $292,103 | $24,341 | $5,617 | $140.43 |
| Kentucky | $283,260 | $23,605 | $5,447 | $136.18 |
| Michigan | $282,603 | $23,550 | $5,434 | $135.87 |
| Florida | $277,076 | $23,089 | $5,328 | $133.21 |
| Arkansas | $266,826 | $22,402 | $5,169 | $129.24 |
The table above shows that New York has the highest annual salary compared to Arkansas, which has the lowest average salary for a neurologist. The salary for a neurologist in New York was 54% higher or $144,000 more than that of a neurologist in Florida.
Some factors that influence the salary differences between states are the supply of neurologists, the demand for neurologists, the cost of living, and the number of opportunities available.
That said, it’s essential to recognize that these states also vary in cost of living. The cost of living dramatically varies across the country, with metropolitan areas generally being more expensive. This means that while some states offer higher compensation, the buying power of that salary may be severely diminished by higher basic living expenses.
Specialization
As with most physicians, your specialization within your specialty can significantly impact your salary.
Some specialties in neurology include:
- Child Neurology/Pediatric Neurology
- Epileptic Neurology
- Neuro-Oncology
- Endovascular & Interventional Neurology
- Behavioral Neurology
There are many other sub-specialties that you can choose within neurology that can have an impact on your salary. Tracking the difference in pay is difficult and not easy to document for neurologists, but in 2021, the American Academy of Neurology published an extensive compensation report. Although this report is several years old, we can use it as a proxy to determine the pay differences between specialties.
Below are some of the key differences in median salary earnings between common specialties:
- Child Neurology/Pediatric Neurology – $220,000
- Epileptic Neurology – $232,861
- Neuro-Oncology – $230,000
- Endovascular & Interventional Neurology – $540,000
- Behavioral Neurology – $215,749
Type of Workplace
The type of hospital or medical facility where you work can also affect your salary as a radiologist. Working at a large, well-known healthcare institution or private hospital often comes with a higher wage than smaller hospitals or clinics.
The Bureau of Labor Statistics performs a great analysis that demonstrates the difference in wages depending on the workplace or industry you are working in.
The most common workplaces for radiologists include:
- Offices of Physicians
- General Medical and Surgical Hospitals
- Outpatient Care Centers
- Offices of Other Health Practitioners
Outpatient care centers are the highest-paying workplace for neurologists, with an average annual salary of approximately $406,000. The second highest-paying workplace was physician offices, with an average annual salary of approximately $258,000.
Unfortunately, the report did not disclose the average salary for general medical and surgical hospitals. However, they did disclose that specialty offices earn an average annual salary of approximately $252,000. The lowest-earning neurologists worked in colleges, universities, and professional schools with an average annual salary of $198,000.
This report shows a large salary difference depending on the industry and workplace. By working at an outpatient care center, you can earn more than double the annual salary of a neurologist at a college or university.
It is important to consider the different working conditions associated with each type of workplace. Physicians working in academia generally have a better work-life balance and are likely to work fewer hours than those working in hospitals. Likewise, neurologists working in the general practitioner’s office might work five days a week. In contrast, a neurologist might work 12-hour shifts for seven days in a hospital with seven days off afterward.
FAQ
How much do neurologists make per hour?
Neurologists earn approximately $313,000 per year, and the standard number of working hours in one single year for a full-time employee is 2,080 hours per year. Based on these numbers, oncologists earn, on average, $150 per hour.
But like many physicians, neurologists are often asked to work more than 40 hours per week. If an oncologist were to work approximately 60 hours per week, they would work, on average, 3120 hours in a year. This means that oncologists earn approximately $100 per hour on average.
How much do neurologists make per month?
Neurologists earn approximately $313,000 per year, which would result in earning approximately $37,000 per month. Likewise, at $26,000 per month, it would be approximately $6,500 weekly or $13,000 bi-weekly.
