Average General Internal Medicine Physicians Salary in Lexington-Fayette, KY
General Internal Medicine Physicians in Lexington-Fayette, KY, command an impressive average annual salary of $274,820, slightly surpassing the national average of $272,010. This favorable compensation reflects the specialized demand and the unique healthcare needs within the region, contributing to a robust earning potential for these vital medical professionals.
Executive Summary
- Average Salary: $274,820 per year.
- Growth Trend: Salaries have shifted 7.9% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $412,230.
- Outlook: With a local workforce of 300 General Internal Medicine Physicians, Lexington-Fayette, KY, demonstrates a significant concentration of talent, as indicated by a Location Quotient of 2.48. This suggests a robust demand for these specialists, making the job market appear healthy and offering promising opportunities for both current and prospective physicians in the area.
Salary Overview
The average General Internal Medicine Physicians in Lexington-Fayette, KY earns+1.0%above the national average.
$132.1
$5,285
$22,902
General Internal Medicine Physicians Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for General Internal Medicine Physicians in Lexington-Fayette, KY, have experienced steady growth over the past four years, mirroring national trends. Economic factors and increasing healthcare demands typically drive upward salary adjustments, ensuring that compensation remains competitive and attractive.
General Internal Medicine Physicians Salary Distribution in Lexington-Fayette, KY
Salary progression for General Internal Medicine Physicians in Lexington-Fayette, KY, typically scales significantly with experience. Entry-level positions will naturally command lower salaries, while seasoned professionals with extensive experience and specialized skills can expect to earn considerably more, often reaching into the higher percentiles of the salary range. These percentile gaps clearly signify the career advancement and increased earning potential available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $82,810 | $39.8 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $206,115 | $99.1 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $231,240 | $111.2 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $343,525 | $165.2 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $412,230 | $198.2 |
Detailed General Internal Medicine Physicians Market Analysis
Relocation Context
Nominal Salary
$274,820
Gross Pay
Real Wage (Purchasing Power)
$274,820
Adjusted for COL (100)
The average annual salary of $274,820 in Lexington-Fayette, KY, aligns perfectly with the national average cost of living, indicated by an index of 100. This means that the purchasing power of a physician's salary in Lexington is equivalent to the national average, offering a stable financial environment without the added pressure of a higher cost of living.
Job Market Context
300
Total Jobs
1.072
Per 1K Jobs
2.48
Location Quotient
Lexington-Fayette, KY has 2.5x the national concentration of General Internal Medicine Physicians jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
A Location Quotient of 2.48 for General Internal Medicine Physicians in Lexington-Fayette, KY, signifies a market that is more than twice as concentrated as the national average. This indicates a strong local demand and a potentially competitive environment, suggesting that employers may actively seek to attract and retain these skilled professionals.
Nearby Job Markets
Nearby Cities for General Internal Medicine Physicians
| City | Salary | Dist. |
|---|---|---|
| South Central Kentucky nonmetropolitan area General Internal Medicine Physicians Salary | $317,510↑ 16% | 28 mi |
| East Kentucky nonmetropolitan area General Internal Medicine Physicians Salary | $396,170↑ 44% | 28 mi |
Comparing salaries near Lexington-Fayette, KY
Hiring General Internal Medicine Physicianss?
Frequently Asked Questions
How much does a General Internal Medicine Physicians make in Lexington-Fayette, KY?
The median annual salary for a General Internal Medicine Physicians in Lexington-Fayette, KY is $274,820. This typically ranges from $82,810 for entry-level positions to $412,230 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 1.0% higher than the national median of $272,010.
Is Lexington-Fayette, KY a lucrative place for General Internal Medicine Physicians?
Yes, Lexington-Fayette, KY offers a lucrative environment for General Internal Medicine Physicians.Physicians in this area earn slightly above the national average salary, and the cost of living is on par with the national average, indicating strong purchasing power.
Is Lexington-Fayette, KY a good place to live for General Internal Medicine Physicians?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include South Central Kentucky nonmetropolitan area ($317,510) and East Kentucky nonmetropolitan area.
How does the number of General Internal Medicine Physicians in Lexington-Fayette compare to the national average?
Lexington-Fayette has 1.072 General Internal Medicine Physicians per 1,000 workers, which is significantly higher than the national average, indicating a strong local presence of this profession.
What is the significance of the Location Quotient for General Internal Medicine Physicians in Lexington-Fayette?
A Location Quotient of 2.48 means that General Internal Medicine Physicians are more than twice as concentrated in Lexington-Fayette compared to the national average, suggesting high demand and a specialized job market.
Does the cost of living in Lexington-Fayette impact the value of a physician's salary?
No, the cost of living in Lexington-Fayette is exactly at the national average (index of 100), meaning the average salary of $274,820 provides purchasing power equivalent to the national average.
How competitive is the job market for General Internal Medicine Physicians in Lexington-Fayette?
With a high Location Quotient, the job market is quite competitive, indicating that employers are actively seeking these specialists and that there is a substantial concentration of these roles within the local workforce.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 300 employees in the Lexington-Fayette, KY area with a job density of 1.072 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for General Internal Medicine Physicians • Data source: BLS OEWS 2024 •Jobs in Lexington-Fayette, KY