Compensation

Where compensation numbers actually come from.

"Physicians in this specialty earn $X" can mean four different things depending on the source. Knowing which one you're looking at changes how much weight to give it.

Survey data

Organizations like MGMA, AMGA, and specialty societies survey member practices and publish percentile breakdowns (25th, median, 75th, 90th) by specialty and often by region. This is the most methodologically transparent source, but it usually reflects established physicians at group practices that participate in the survey — not necessarily first-year attendings, solo practice, or employers outside that sampling pool.

Recruiter and staffing-firm estimates

Figures quoted by a recruiter or locum agency reflect what that firm has seen move in its own placements, which can run ahead of or behind survey medians depending on the firm's client base and specialty focus. Useful as a real-world data point, but it's one firm's slice of the market, not a comprehensive figure.

Job-board averages

Averages built from posted listings reflect what employers advertised, not necessarily what was negotiated or accepted. Posted ranges also tend to skew toward what recruiters believe will attract applicants, which can run higher than what typically gets offered.

Self-reported numbers

Anecdotes from residency forums or social media are useful for texture — contract structures, red flags, regional patterns — but a handful of self-reported numbers isn't a market rate, and self-selection tends to skew toward people motivated to post, in either direction.