6 Highest Paying Medical Specialties In 2023 And Beyond

Medicine has seen some significant changes in the past few years, including new services and startups in areas such as online consultations and treatments. Although the statistics for the most sought-after medical specialist of course change according to the needs of patients, there are specialist areas that show impressive growth statistics in 2023 and beyond.

According to Forbes, the healthcare sector will add over 2.6 million new job openings, the highest of any business market. It could be partly due to an aging population with an increased demand for specialized healthcare.

Medical personnel wanting to move into a specialization won’t regret it, especially when they choose one of the specialties below that could be some of the highest paying in 2023 and beyond:

Immunology And Allergy Studies

Immunology and allergy studies have entered the spotlight spectacularly over the past few years. Previously, this area of expertise had a backseat compared to other areas of study. The need for more of these services, however, created a drive to further medicine’s understanding and the impact of these diseases on patients.

Although it doesn’t feature on the list of most competitive medical specialties from this medicalaid source, it may become one of the top specialties with the highest salaries in the future. With 13 years of study and practical experience, the path to becoming an immunologist could be long compared to other careers. Still, it does justify a salary from the Center For Disease Control (CDC), for example, of around $131000 annually.

Anesthesiology For Surgery

Anesthesiology is an essential part of surgical procedures and comes with an even greater responsibility. These specialists should know intimately about the human nervous system and the body’s reactions to anesthesia. As these patients can’t speak up when something seems to feel wrong, it’s up to the anesthesiologist to closely monitor them during the procedure.

Unsurprisingly, most of these specialists, around 59% of the residents worldwide, will have a doctorate, according to employment specialists Zippia. Furthermore, this could mean that the institutions using their expert knowledge would have to reward them handsomely in remuneration. Moreover, a salary in excess of $318,950 for working at a specialist hospital or medical center will make their efforts worthwhile.

Oral and Maxillofacial Surgery

A specialty with a unique approach is oral and maxillofacial surgery. As these surgeons need a thorough knowledge of dentistry and general surgery, it isn’t a career choice that many will consider. On the other hand, the residency programs for the surgeries that fall under this category are highly competitive too.

The website of Johns Hopkins Medical School states that they only allow three residents into this specialization per year, which makes it one of the most competitive residencies to apply for in general. Due to the grueling process of becoming an oral and maxillofacial surgeon, the profession is easily among the highest paying in the field.

Obstetrics And Gynecology

Many believe this specialty only involves catching babies and how wrong they are – this field provides more excitement, problem-solving, and critical thinking. At an average salary of $303,900 for gynecologists without a specialty, it’s already evident that adding one could include even more perks.  Dr. Brent Monseur, MD, will agree as he decided to go into the little-known area of aerospace gynecology, as he explained to the American Association of Medical Colleges (AAMC). 

The National Aeronautics and Space Administration (NASA) sending these specialists into space to take care of the female astronauts’ needs, may not be the only direction to go with obstetrics and gynecology, but having that specific knowledge will surely skyrocket the career path onto the list of highest-paying medical specialties. Also part of the more unique specialties, residents will need experience in general medicine focusing on the female reproductive system and surgical training to step into their role fully.

Orthodontist And Prosthodontics

Anyone who has visited a specialist dentist for braces, bridgework, or false teeth will know that these medical professionals have a tough job of getting it just right. The sometimes-lengthy process could be one of the downsides to this profession, but on the other hand, it shows these specialists’ determination and grit.

Prosthodontics is a slightly more complicated process. Patients needing replacements for parts of their face after severe trauma, for example, would have to visit a specialist to help them feel whole again. A salary of $124,000 per year, according to the U.S. Bureau of Labor Statistics, parallels their persistence in helping their patients bear a brighter smile and secures them a spot on the list of highest-paid specialists in leading hospitals’ theatres.

Psychiatry And Mental Health

With people more willing to seek help for their mental health, the number of psychiatrists is rising. Furthermore, their salaries are increasing too. Unfortunately, their annual wages could largely depend on where they practice and whether they are in a private or hospital setting.

Those pursuing a career in this field will be happy to know that the residency is less competitive than other medical specialties. However, should the candidate complete a residency at one of the best residency programs, they could always move to the beautiful shores of Hawaii to set up their practice for the highest-paid annual income in the United States which could average around $114,401, which is already almost 19% higher than other professions in the same area.

More research is done each day which could eventually lead to more specialized treatments for patients. Moreover, the demand for quality medical care is ever-increasing, and this means more specialists to step in and step up. After all, pursuing one of these high-paying specialties at one of the best residency programs would benefit patients and doctors alike.