Average Family Medicine Physicians Salary in New Mexico
Family Medicine Physicians in New Mexico earn an impressive average annual salary of $291,980, significantly surpassing the national average of $259,840. This elevated compensation reflects the state's specific healthcare demands and the critical role these physicians play in serving its diverse population, often in areas with limited access to specialized medical care.
Executive Summary
- Average Salary: $291,980 per year.
- Growth Trend: Salaries have shifted 50.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $437,970.
- Outlook: With a local workforce of 710 Family Medicine Physicians and a Location Quotient of 1.17, New Mexico demonstrates a slightly higher concentration of these professionals than the national average. This suggests a robust demand and a stable job market for these essential healthcare providers within the state.
Salary Overview
The average Family Medicine Physicians in New Mexico earns+12.4%above the national average.
$140.4
$5,615
$24,332
Family Medicine Physicians Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salary for Family Medicine Physicians in New Mexico has experienced consistent growth over the past four years, mirroring national trends of increasing physician compensation driven by ongoing demand and evolving healthcare landscapes.
Family Medicine Physicians Salary Distribution in New Mexico
The salary progression for Family Medicine Physicians in New Mexico typically scales with experience. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command salaries significantly above the average, with higher percentiles indicating substantial career advancement and earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $124,830 | $60 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $218,985 | $105.3 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $291,970 | $140.4 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $364,975 | $175.5 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $437,970 | $210.6 |
Detailed Family Medicine Physicians Market Analysis
Relocation Context
Nominal Salary
$291,980
Gross Pay
Real Wage (Purchasing Power)
$325,871
Adjusted for COL (89.6)
The average annual salary of $291,980 in New Mexico presents a strong financial advantage when considering the local Cost of Living Index of 89.6. This index, being below the national average of 100, indicates that the purchasing power of a Family Medicine Physician's salary in New Mexico is considerably higher, allowing for a comfortable lifestyle.
Job Market Context
710
Total Jobs
0.821
Per 1K Jobs
1.17
Location Quotient
With a location quotient of 1.17, New Mexico has a slightly higher-than-average concentration of Family Medicine Physicians roles compared to the national norm.
A Location Quotient of 1.17 signifies that Family Medicine Physicians are more concentrated in New Mexico than the national average. This suggests a healthy, albeit slightly more competitive, job market where employers may actively seek to attract and retain talent, potentially leading to favorable negotiation opportunities for physicians.
Nearby Job Markets
Nearby Cities for Family Medicine Physicians
| City | Salary | Dist. |
|---|---|---|
| Albuquerque, NM Family Medicine Physicians Salary | $247,760↓ 15% | 29 mi |
Comparing salaries near New Mexico
Hiring Family Medicine Physicianss?
Frequently Asked Questions
How much does a Family Medicine Physicians make in New Mexico?
The median annual salary for a Family Medicine Physicians in New Mexico is $291,980. This typically ranges from $124,830 for entry-level positions to $437,970 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Mexico is 12.4% higher than the national median of $259,840.
Is New Mexico a lucrative place for Family Medicine Physicians?
Yes, New Mexico is a lucrative state for Family Medicine Physicians.The average salary of $291,980 significantly exceeds the national average, and the lower cost of living further enhances earning potential and quality of life.
Is New Mexico a good place to live for Family Medicine Physicians?
With a Cost of Living Index of 89.6 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near New Mexico?
Some top paying nearby cities include Albuquerque, NM ($247,760) and others.
How does the New Mexico salary compare to the national average?
Family Medicine Physicians in New Mexico earn an average of $291,980 annually, which is approximately $32,140 more than the national average of $259,840.
What is the concentration of Family Medicine Physicians in New Mexico?
New Mexico has a Location Quotient of 1.17 for Family Medicine Physicians, indicating a concentration that is 17% higher than the national average.
How does the cost of living affect a Family Medicine Physician's salary in New Mexico?
With a Cost of Living Index of 89.6, New Mexico is more affordable than the national average, meaning the $291,980 salary offers greater purchasing power.
What does the number of Family Medicine Physicians in New Mexico suggest about job opportunities?
The presence of 710 Family Medicine Physicians and a Location Quotient above 1 suggests a stable and potentially growing demand for these professionals within the state.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 710 employees in the New Mexico area with a job density of 0.821 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 New Mexico