In this article, we will look at the 5 highest paying countries for doctors. We have also discussed the global healthcare market and key players in another article. If you are interested in reading about that along with a more extensive list, head straight to the 20 Highest Paying Countries for Doctors.
5. Iceland
Average Salary: $195,559
To practice as a doctor in Iceland, this is the right time to consider applying as there is a healthcare shortage in the country. The standard procedures for obtaining work visas for individuals from non-EU/EEA countries must be followed. The most important step of the process is the recognition of their degree and professional qualifications. General practitioners should possess an MD or equivalent degree, while specialists should initiate their job search well in advance. It’s advisable to contact the clinic or hospital where they intend to work to get their qualifications acknowledged in Iceland. Admission to medical school in Iceland mandates a Bachelor’s degree, a residency program and clinical examinations.
4. Australia
Average Salary: $198,338
One of the biggest reasons to consider Australia for practicing as a doctor is that there’s a high demand for doctors in areas outside major cities, and Rural Workforce Agencies can assist in finding suitable positions. Moreover, international medical graduates working in priority areas, often in regional, rural, or remote locations, benefit from skill recognition, lower living costs, welcoming communities, and more job opportunities. Financial incentives are available for those in remote regions through the General Practice Rural Incentives Program.
3. Luxembourg
Average Salary: $250,697
Luxembourg’s healthcare sector faces a looming crisis as many doctors, including specialists in different medical fields, are set to retire in the next 11 years, with up to 90% of neurologists needing replacements. A 2019 study cited by the Health Minister predicts that at least two-thirds of doctors across 18 specialties will retire by 2034. The country had only three physicians per 1,000 residents in 2021.
2. United States
Average Salary: $266,558
America is facing a growing shortage of geriatricians, doctors who specialize in caring for elderly patients. The demand for geriatric medicine is rising as the proportion of elderly people in the population increases, with around 25% predicted to be over 65 in North America and Europe by 2050. However, the supply of geriatricians in the US is failing to meet this demand. It is also one of the countries that produce the best doctors. Cardiothoracic Surgery and Radiation Oncology are two of the highest-paid medical specialties in the US with average salaries of $512,200 and $446,250, respectively.
1. Switzerland
Average Salary: $268,935
Like many other countries, Switzerland is facing a severe shortage of doctors, with Swiss medical authorities warning of impending healthcare crises due to insufficient doctor training. The president of the Swiss Medical Association, Yvonne Gilli, has consistently emphasized the need for increased medical school placements and improved working conditions to attract and retain young doctors. She also suggests extending the working lives of experienced doctors to mitigate the shortage. Switzerland is the highest-paying country for doctors.
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