Average Physicians, All Other Salary in Richmond, VA
Physicians, All Other in Richmond, VA, command an impressive average annual salary of $259,650, slightly surpassing the national average of $256,170. This elevated compensation is often influenced by the specific healthcare needs and the concentration of specialized medical services within the Richmond metropolitan area, contributing to a higher demand for experienced medical professionals.
Executive Summary
- Average Salary: $259,650 per year.
- Growth Trend: Salaries have shifted 35.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $389,475.
- Outlook: The local workforce for Physicians, All Other in Richmond, VA, comprises 1,530 individuals, indicating a substantial presence. The location quotient of 1.15 suggests that this profession is more concentrated in Richmond than the national average, pointing towards a robust and potentially growing demand for these specialized roles within the region's healthcare sector.
Salary Overview
The average Physicians, All Other in Richmond, VA earns+1.4%above the national average.
$124.8
$4,993
$21,638
Physicians, All Other Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salaries for Physicians, All Other in Richmond, VA, have experienced consistent growth over the past four years, mirroring national trends in the healthcare industry. Factors such as increasing healthcare demands, advancements in medical technology, and inflation likely contribute to a steady upward trajectory in compensation.
Physicians, All Other Salary Distribution in Richmond, VA
Salary progression for Physicians, All Other in Richmond, VA, typically scales significantly with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with extensive expertise and specialized skills can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies clear career advancement opportunities and increased earning potential throughout a physician's career.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $91,160 | $43.8 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $194,738 | $93.6 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $259,646 | $124.8 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $324,563 | $156 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $389,475 | $187.2 |
Detailed Physicians, All Other Market Analysis
Relocation Context
Nominal Salary
$259,650
Gross Pay
Real Wage (Purchasing Power)
$259,650
Adjusted for COL (100)
The average annual salary of $259,650 in Richmond, VA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a physician's salary in Richmond is equivalent to the national standard, allowing for a comparable lifestyle without significant financial adjustments due to living expenses.
Job Market Context
1,530
Total Jobs
2.347
Per 1K Jobs
1.15
Location Quotient
With a location quotient of 1.15, Richmond, VA has a slightly higher-than-average concentration of Physicians, All Other roles compared to the national norm.
With a location quotient of 1.15, Richmond, VA, demonstrates a higher concentration of Physicians, All Other compared to the national average. This suggests a competitive yet potentially abundant job market, where demand may slightly outpace the national average, offering good opportunities for qualified professionals seeking employment in the area.
Nearby Job Markets
Nearby Cities for Physicians, All Other
| City | Salary | Dist. |
|---|---|---|
| Southside Virginia nonmetropolitan area Physicians, All Other Salary | $206,030↓ 21% | 41 mi |
| Northern West Virginia nonmetropolitan area Physicians, All Other Salary | $254,160↓ 2% | 41 mi |
| Southwest Virginia nonmetropolitan area Physicians, All Other Salary | $199,390↓ 23% | 41 mi |
| Southern West Virginia nonmetropolitan area Physicians, All Other Salary | $200,800↓ 23% | 41 mi |
Comparing salaries near Richmond, VA
Hiring Physicians, All Others?
Frequently Asked Questions
How much does a Physicians, All Other make in Richmond, VA?
The median annual salary for a Physicians, All Other in Richmond, VA is $259,650. This typically ranges from $91,160 for entry-level positions to $389,475 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Richmond, VA is 1.4% higher than the national median of $256,170.
Is Richmond, VA a lucrative place for Physicians, All Others?
Yes, Richmond, VA offers a lucrative environment for Physicians, All Other.The average salary of $259,650 is above the national average, and with a cost of living at the national average, physicians can expect strong purchasing power for their earnings.
Is Richmond, VA a good place to live for Physicians, All Others?
The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Richmond, VA?
Some top paying nearby cities include Southside Virginia nonmetropolitan area ($206,030) and Northern West Virginia nonmetropolitan area.
How does the number of jobs per 1,000 workers compare nationally?
Richmond, VA has 2.347 jobs per 1,000 workers for Physicians, All Other, indicating a slightly higher density of these roles compared to the national average.
What is the total number of Physicians, All Other in Richmond, VA?
There are approximately 1,530 Physicians, All Other employed within the Richmond, VA area.
Does the cost of living affect the value of a physician's salary in Richmond?
No, the cost of living in Richmond is exactly at the national average (100), meaning the $259,650 salary has the same purchasing power as it would nationally.
Is the job market for Physicians, All Other saturated in Richmond, VA?
The location quotient of 1.15 suggests a slightly higher concentration than the national average, indicating a healthy demand rather than saturation.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,530 employees in the Richmond, VA area with a job density of 2.347 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Physicians, All Other • Data source: BLS OEWS 2024 •Jobs in Richmond, VA