Average Physicians, All Other Salary in New Mexico
Physicians, All Other in New Mexico are earning an impressive average annual salary of $300,890. This figure significantly surpasses the national average of $256,170, suggesting that the unique demands and potentially specialized healthcare needs within the state contribute to higher compensation for these medical professionals. The economic landscape and specific healthcare market dynamics in New Mexico appear to favor a more robust pay scale for this critical role.
Executive Summary
- Average Salary: $300,890 per year.
- Growth Trend: Salaries have shifted 12.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $451,335.
- Outlook: With a local workforce of 1,640 Physicians, All Other, and a Location Quotient of 0.93, the job market in New Mexico indicates a presence that is nearly on par with the national average in terms of concentration. While not exceeding the national average, this stable workforce size suggests consistent demand and a well-established professional community, pointing towards a steady job market for these specialists.
Salary Overview
The average Physicians, All Other in New Mexico earns+17.5%above the national average.
$144.7
$5,786
$25,074
Physicians, All Other Salary Trends (2020-2024)
While specific historical data for this exact role in New Mexico is not provided, it is reasonable to assume that, mirroring national trends, the demand for physicians has seen steady growth over the past four years. This growth is likely driven by an aging population and increasing healthcare needs, which typically translates into upward pressure on salaries, suggesting a positive trajectory for compensation in this field within the state.
Physicians, All Other Salary Distribution in New Mexico
The salary spectrum for Physicians, All Other in New Mexico likely shows significant variation based on experience. Entry-level practitioners can expect to earn at the lower percentiles, while seasoned professionals with extensive experience and specialized skills will command salaries at the higher end. The gap between the lowest and highest earners represents substantial career progression and the increasing value placed on expertise and years of practice.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $126,200 | $60.7 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $225,668 | $108.5 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $300,893 | $144.7 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $376,113 | $180.8 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $451,335 | $217 |
Detailed Physicians, All Other Market Analysis
Relocation Context
Nominal Salary
$300,890
Gross Pay
Real Wage (Purchasing Power)
$335,815
Adjusted for COL (89.6)
The average annual salary of $300,890 in New Mexico presents a strong financial advantage when considering the local cost of living. With a Cost of Living Index of 89.6, which is below the national average of 100, physicians can expect their substantial earnings to afford them a higher purchasing power and a better quality of life compared to many other regions in the United States.
Job Market Context
1,640
Total Jobs
1.905
Per 1K Jobs
0.93
Location Quotient
New Mexico has 0.93x the national average concentration of Physicians, All Other 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 0.93 for Physicians, All Other in New Mexico indicates that the concentration of these professionals in the state is slightly below the national average. This suggests that while the profession is present and valued, the market is not oversaturated, potentially offering good opportunities for those entering the field or seeking to relocate, without facing extreme competition.
Nearby Job Markets
Nearby Cities for Physicians, All Other
| City | Salary | Dist. |
|---|---|---|
| Albuquerque, NM Physicians, All Other Salary | $304,780↑ 1% | 29 mi |
| Santa Fe, NM Physicians, All Other Salary | $261,930↓ 13% | 59 mi |
Comparing salaries near New Mexico
Hiring Physicians, All Others?
Frequently Asked Questions
How much does a Physicians, All Other make in New Mexico?
The median annual salary for a Physicians, All Other in New Mexico is $300,890. This typically ranges from $126,200 for entry-level positions to $451,335 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Mexico is 17.5% higher than the national median of $256,170.
Is New Mexico a lucrative place for Physicians, All Other?
Yes, New Mexico offers a lucrative environment for Physicians, All Other.The average salary of $300,890 significantly exceeds the national average, and coupled with a cost of living below the national index, it provides excellent earning potential and purchasing power.
Is New Mexico a good place to live for Physicians, All Others?
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 ($304,780) and Santa Fe, NM.
How does the New Mexico salary compare to the national average?
Physicians, All Other in New Mexico earn an average of $300,890 annually, which is notably higher than the national average of $256,170.
What is the concentration of Physicians, All Other in New Mexico?
The Location Quotient for Physicians, All Other in New Mexico is 0.93, indicating a concentration slightly below the national average.
How does the cost of living in New Mexico affect physician salaries?
With a Cost of Living Index of 89.6, New Mexico is more affordable than the national average, meaning the high average salary of $300,890 provides substantial purchasing power.
What does the total workforce size suggest about job availability?
A local workforce of 1,640 suggests a stable and established presence of Physicians, All Other, indicating consistent demand and opportunities 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 1,640 employees in the New Mexico area with a job density of 1.905 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Physicians, All Other Salaries by State
Top Jobs in New Mexico
- All Occupations Salary in New Mexico
- Office and Administrative Support Occupations Salary in New Mexico
- Food Preparation and Serving Related Occupations Salary in New Mexico
- Sales and Related Occupations Salary in New Mexico
- Transportation and Material Moving Occupations Salary in New Mexico
- Construction and Extraction Occupations Salary in New Mexico
- Healthcare Support Occupations Salary in New Mexico
- Educational Instruction and Library Occupations Salary in New Mexico
- Healthcare Practitioners and Technical Occupations Salary in New Mexico
- Business and Financial Operations Occupations Salary in New Mexico
- Browse All Jobs in New Mexico →
Semantic Salary Analysis for Physicians, All Other • Data source: BLS OEWS 2024 •Jobs in New Mexico