Average Family Medicine Physicians Salary in Madison, WI
Family Medicine Physicians in Madison, WI, command an impressive average annual salary of $288,570. This figure significantly surpasses the national average of $259,840, indicating a strong local demand and potentially higher reimbursement rates or a more specialized patient population in the area. The economic landscape of Madison, WI, therefore, presents a favorable financial environment for these essential healthcare professionals.
Executive Summary
- Average Salary: $288,570 per year.
- Growth Trend: Salaries have shifted 33.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $432,855.
- Outlook: With a local workforce of 200 Family Medicine Physicians and a Location Quotient of 0.7, Madison, WI, shows a slightly lower concentration compared to the national average. While not indicating an oversaturated market, this suggests a stable, albeit not exceptionally high, demand for these professionals. The number of jobs per 1,000 workers at 0.487 further supports a consistent need for family medicine services within the community.
Salary Overview
The average Family Medicine Physicians in Madison, WI earns+11.1%above the national average.
$138.7
$5,549
$24,048
Family Medicine Physicians Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Family Medicine Physicians in Madison, WI, have experienced steady growth over the past four years, mirroring national trends. Factors such as increasing healthcare needs, physician shortages in certain specialties, and inflation likely contribute to an upward trajectory in compensation, ensuring that the earning potential for these professionals remains robust.
Family Medicine Physicians Salary Distribution in Madison, WI
The salary range for Family Medicine Physicians in Madison, WI, naturally escalates with experience. Entry-level positions typically fall within the lower percentiles, while seasoned physicians with extensive experience and specialized skills can command salaries in the upper percentiles. This progression signifies substantial career growth opportunities and increased earning potential as one advances in their practice.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $114,400 | $55 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $216,428 | $104.1 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $288,558 | $138.7 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $360,713 | $173.4 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $432,855 | $208.1 |
Detailed Family Medicine Physicians Market Analysis
Relocation Context
Nominal Salary
$288,570
Gross Pay
Real Wage (Purchasing Power)
$288,570
Adjusted for COL (100)
The average annual salary of $288,570 in Madison, WI, is particularly attractive given the local Cost of Living Index is precisely at the national average of 100. This means that the purchasing power of a Family Medicine Physician's income in Madison is equivalent to the national standard, allowing their substantial earnings to translate directly into a comfortable lifestyle without the added financial strain of a higher cost of living.
Job Market Context
200
Total Jobs
0.487
Per 1K Jobs
0.7
Location Quotient
Madison, WI has 0.70x the national average concentration of Family Medicine Physicians jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.7 for Family Medicine Physicians in Madison, WI, indicates that the concentration of these professionals is slightly below the national average. This suggests that while the market is stable and professionals are certainly needed, it is not exceptionally competitive or saturated. There is a consistent demand, but perhaps fewer physicians per capita than in other regions, offering a balanced environment for practitioners.
Nearby Job Markets
Nearby Cities for Family Medicine Physicians
| City | Salary | Dist. |
|---|---|---|
| Rockford, IL Family Medicine Physicians Salary | $242,150↓ 16% | 59 mi |
| Fond du Lac, WI Family Medicine Physicians Salary | $317,120↑ 10% | 68 mi |
| Milwaukee-Waukesha, WI Family Medicine Physicians Salary | $304,110↑ 5% | 72 mi |
| Oshkosh-Neenah, WI Family Medicine Physicians Salary | $294,890↑ 2% | 77 mi |
Comparing salaries near Madison, WI
Hiring Family Medicine Physicianss?
Frequently Asked Questions
How much does a Family Medicine Physicians make in Madison, WI?
The median annual salary for a Family Medicine Physicians in Madison, WI is $288,570. This typically ranges from $114,400 for entry-level positions to $432,855 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Madison, WI is 11.1% higher than the national median of $259,840.
Is Madison, WI a lucrative place for Family Medicine Physicians?
Yes, Madison, WI offers a lucrative environment for Family Medicine Physicians.The average salary of $288,570 significantly exceeds the national average, and the cost of living is on par with the national average, enhancing the real value of their earnings.
Is Madison, WI a good place to live for Family Medicine Physicians?
The Cost of Living Index in Madison, WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Madison, WI?
Some top paying nearby cities include Rockford, IL ($242,150) and Fond du Lac, WI.
How does the Madison, WI salary compare to the national average?
Family Medicine Physicians in Madison, WI, earn an average of $288,570 annually, which is notably higher than the national average of $259,840.
What is the concentration of Family Medicine Physicians in Madison, WI?
The Location Quotient for Family Medicine Physicians in Madison, WI, is 0.7, indicating a slightly lower concentration compared to the national average.
Does the cost of living affect the value of a Family Medicine Physician's salary in Madison, WI?
No, the cost of living in Madison, WI, is at the national average (100), meaning the higher salary directly translates to strong purchasing power.
What does the total local workforce number imply for job availability?
With 200 Family Medicine Physicians in the local workforce, it suggests a substantial, established presence, supporting a consistent demand for these roles.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 200 employees in the Madison, WI area with a job density of 0.487 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Family Medicine Physicians • Data source: BLS OEWS 2024 •Jobs in Madison, WI