Starting Salaries and Demand for Physicians and APPs Rise in 2024

September 23, 2024 | Medical Economics

The 31st annual Review of Physician and Advanced Practitioner Recruiting Incentives reports that average starting salaries for physicians in all specialties and advanced practice providers (NPs, PAs, CRNAs) are up yearly. The upward trend in compensation shows just how competitive recruitment has become, particularly for these high-demand roles.

Physicians are seeing an average signing bonus of approximately $31,500, while NPs and PAs are offered bonuses averaging $11,700. Additionally, relocation packages and continuing education allowances remain standard for new hires in order to make the job offer more attractive.

While family physicians account for the largest volume of searches, demand for both family and primary care physicians has decreased compared to the previous year. This shift reflects a broader trend for AMN Healthcare, which now conducts more searches for APPs than for primary care doctors, indicating that patients are migrating away from the traditional hospital setting. Almost 23% of AMN’s search engagements were for APPs, up from 19% the previous year, highlighting how much their role in patient care has grown.

Furthermore, nearly two-thirds (63%) of all searches were for specialist physicians, including OB/GYNs, gastroenterologists, radiologists, and cardiologists. This demand has been driven by an aging population with increasing healthcare needs, particularly for chronic conditions that require specialized expertise. This growing emphasis on specialty care is reshaping the physician recruiting landscape as facilities work to meet the complex demands of their patient populations.