Do Athletes Get Paid More Than Doctors?

Globally, and particularly in the United States, doctors are one of the highest paid individuals. With salaries oftentimes rivaling CEO’s and business owners, doctors are well-paid for their services and their knowledge.

But if there is one profession that consistently ranks as the highest paid, it is athletes. So, do athletes get paid more than doctors? And, if they do, why exactly do athletes make more than doctors?

How Much do Doctors Get Paid?

Doctors, as with nearly all other professions, have a range of salaries. And while doctors, on average, are paid well, they can potentially earn more by specializing in more high-demand specialties or opting to work in more in-demand regions.

However, on average, doctors earn an annual income between $150,000 and $312,000. Again, these figures can vary widely depending on a doctors specialty and the location where they choose to work.

In digging deeper, some studies have shown that, on average, doctors earn a median salary of $223,000 annually with medical specialists earning an average of $329,000.

Why Are Doctors Paid so Well?

While doctors are, on average, paid extremely well, many people wonder just why exactly doctors are paid so much. Below, we are going to look at just why doctors are paid so well and if they are deserving of the top-level salaries they so often garner.

• Cost of Education – while doctors are some of the highest paid earners in the world, they must also complete extensive educational requirements in order to qualify for the role. This educational requirement comes at a significant cost. For most doctors, student loans are the only option they have to complete their education. And with medical schools costing between $140,000 to $225,000, these doctors have hefty student loans which will need to be paid back.

• Doctors Have Essential Jobs – in addition to the high cost of college, doctors are one of the only professions which are absolutely crucial and essential to society. Doctors, above nearly all other professions, provide much needed services and often must make life-or-death decisions. This essential job function helps doctors garner a higher salary.

• Insurance Costs – lastly, and perhaps a topic less spoken on, are the steep costs of insurance which doctors must pay to cover them from medical malpractice suits. With doctors indicating that as much as a third of their annual salary goes to medical malpractice insurance, their take home pay can be quite deceiving.

How Much do Athletes Get Paid?

As with doctors, athletes pay can range depending on specific sport played, gender, and professional level. However, when comparing doctors pay to an athletes one, we’re going to focus on the four major men’s leagues in the United States, which are the NBA, the NFL, the NHL, and the MLB.

From these four major professional leagues, players earn, on average, $3.865 million per year.

However, that figure is slightly skewed towards the NBA and the MLB, both leagues which pay much higher than other professional sports leagues.

With NBA players earning $7.5 million annually, the overall athlete salary figures rise significantly with their addition.

However, that is not to say that other professional athletes are underpaid.

Average pay in the MLB stands at $4.41 million, with the NHL average salary standing at $2.69 million and the NFL at a respectable $860,000.

Why do Athletes Get Paid so Much?

The topic of whether or not professional athletes are overpaid is one that has been discussed for decades, with individuals on both sides making, and providing, significant viewpoints from both sides.

However, here are a few reasons why we believe athletes get paid so much.

• Few Can Compare to an Athlete – when it comes to salary determinations, a simple supply-and-demand graph can be utilized to determine a proper salary determination. And understanding that professional athletes are some of the absolute best athletes in their given sport in the world, they are able to warrant and command a higher salary for their services.

• Fans Want to See Certain Players – in addition, for certain, superstar players, fans will flock to the stadiums to see these player play live. With those fans in attendance, team owners are better able to earn additional revenue throughout the season and are more willing to pay the salary requirements of certain players.

• Winning Begets Winnings – and lastly, and perhaps the most important reason, is that winning begets additional winnings. That is, a team assembled of high-profile and superstar athletes who can win games and championships, can help their team to earn additional revenue.

So, Do Athletes Make More Than Doctors?

While professional athletes in the men’s leagues, notably the NBA, the NFL, the MLB, and the NHL, earn significantly more than doctors, not all athletes earn more than them.

Reaching the NBA, NFL, MLB, or NHL is immensely difficult and those athletes can garner those high salaries.

However, for many other non-professional or amateur athletes, commanding high 7-figure salaries is simply unreasonable. And while many of those non-professional or amateur athletes can garner a healthy salary, it is oftentimes less than what a doctor who specializes in a high-demand specialty in a large metro region can garner for their skills.