Average General Internal Medicine Physicians Salary in Madison, WI
General Internal Medicine Physicians in Madison, WI, can expect an average annual salary of $226,060. This figure is notably below the national average of $272,010, suggesting that local market dynamics, such as the specific demand and supply within the region, play a significant role in compensation levels.
Executive Summary
- Average Salary: $226,060 per year.
- Growth Trend: Salaries have shifted 4.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $339,090.
- Outlook: With a total local workforce of 240 General Internal Medicine Physicians, Madison, WI, presents a concentrated market. The Location Quotient of 1.37 indicates a higher concentration of these professionals compared to the national average, suggesting a robust presence and potentially stable demand for their specialized skills within the area.
Salary Overview
The average General Internal Medicine Physicians in Madison, WI earns-16.9%below the national average.
$108.7
$4,347
$18,838
General Internal Medicine Physicians Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the field of General Internal Medicine has experienced consistent salary growth over the past four years, driven by an aging population and increasing healthcare needs. This trend likely extends to Madison, WI, where physicians may see incremental increases in their earning potential.
General Internal Medicine Physicians Salary Distribution in Madison, WI
The salary progression for General Internal Medicine Physicians typically scales significantly with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with extensive experience and specialized skills can command salaries in the higher percentiles. The gap between entry-level and senior roles signifies substantial career growth and earning potential within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $67,990 | $32.7 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $169,545 | $81.5 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $229,020 | $110.1 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $282,575 | $135.9 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $339,090 | $163 |
Detailed General Internal Medicine Physicians Market Analysis
Relocation Context
Nominal Salary
$226,060
Gross Pay
Real Wage (Purchasing Power)
$226,060
Adjusted for COL (100)
The average annual salary of $226,060 in Madison, WI, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a physician's salary in Madison is equivalent to the national average, offering a balanced lifestyle without significant financial strain related to living expenses.
Job Market Context
240
Total Jobs
0.592
Per 1K Jobs
1.37
Location Quotient
With a location quotient of 1.37, Madison, WI has a slightly higher-than-average concentration of General Internal Medicine Physicians roles compared to the national norm.
A Location Quotient of 1.37 for General Internal Medicine Physicians in Madison, WI, signifies that this profession is more concentrated in this area than the national average. This suggests a competitive yet potentially abundant job market, where employers may have access to a skilled talent pool, while physicians might find a good number of opportunities.
Nearby Job Markets
Nearby Cities for General Internal Medicine Physicians
| City | Salary | Dist. |
|---|---|---|
| Milwaukee-Waukesha, WI General Internal Medicine Physicians Salary | $373,880↑ 65% | 72 mi |
Comparing salaries near Madison, WI
Hiring General Internal Medicine Physicianss?
Frequently Asked Questions
How much does a General Internal Medicine Physicians make in Madison, WI?
The median annual salary for a General Internal Medicine Physicians in Madison, WI is $226,060. This typically ranges from $67,990 for entry-level positions to $339,090 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Madison, WI is 16.9% lower than the national median of $272,010.
Is Madison, WI a lucrative place for General Internal Medicine Physicianss?
Yes, with caveats.While the average salary of $226,060 is below the national average, the cost of living is also at the national average, making the nominal salary hold its value. The high concentration of physicians (LQ 1.37) indicates a strong local market.
Is Madison, WI a good place to live for General Internal 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 Milwaukee-Waukesha, WI ($373,880) and others.
How does the number of General Internal Medicine Physicians in Madison compare to the national average?
Madison, WI has 0.592 General Internal Medicine Physicians per 1,000 workers, which is higher than the national average, indicating a greater density of these professionals in the local workforce.
What is the significance of a Location Quotient of 1.37?
A Location Quotient of 1.37 means that General Internal Medicine Physicians are 37% more concentrated in Madison, WI, than they are across the United States, highlighting a specialized regional presence.
Does Madison, WI offer a good cost of living for physicians?
Yes, Madison, WI, has a cost of living index of 100, which is exactly the national average. This means that the $226,060 salary offers purchasing power equivalent to the national average.
How does the total workforce size impact the job market for physicians in Madison?
With 240 General Internal Medicine Physicians, the local workforce is substantial enough to indicate a consistent need for these services, though the high concentration might suggest a competitive environment for new entrants.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 240 employees in the Madison, WI area with a job density of 0.592 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 Madison, WI