An average salary for a physician with M.D. Ph.D .degrees depends upon several factors such as field of specialization, location, years of work experience, degree qualifications, and job title. Keep reading for more information about MD PhD salary.
Salary information about Medical Doctor (MD) with and without Ph.D. degree in different countries
MD PhD salary in the US and UK
On an average a physician with MD/PhD degrees in the United States earns a yearly salary ranging from between $35,936 to $150,709. An average hourly wage ranges from $32.10 to $55.86 per hour. In addition, an average yearly bonus can range from $497.09 to $3,974. In the United Kingdom, the yearly salary earned by a physician with a MD/PhD degree can vary from £51,965 – £87,115, while the hourly wage can range from between £22.5 to £58.75 per hour, with a yearly bonus ranging from £512 to £2,948.
MD PhD salary in Australia and Canada
In Australia, the annual salary for a MD/PhD doctor can range from between AU$ 60.402 to AU$ 167,256 per year, whereas an hourly wage can range from between AU$ 32.50 to AU$ 50.50. An average yearly bonus ranges from between AU$500 to AU$ 80,000. According to a national survey, receiving a PhD does not yield much higher earnings than those with just a masters’ degree. This is because the total yearly salary for a MD/PhD doctor in Canada is around C$65,000 (US$55,283), while those with a master’s degree earned C$ 60,000 per year.
Requirements to become a Ph.D. Doctor
In the United States, there are many programs offered by the colleges and universities, which usually combine the MD-PhD program. This combination or dual program is also referred to as the Medical Scientist Training Program (MSTP), and it has been developed by the National Institute of General Medical Sciences (NIGMS). In general, a dual MD-PhD program permits to gain experience in both clinical practices and medical research, thus increasing the career opportunities following graduation.
To become a Ph.D doctor, an aspiring candidate should first complete an entry level education in high school degree or GED equivalent. The candidate should then pursue a course in science degree that emphasizes on human sciences, biology, chemistry, physics or life sciences. One should gain research experience during undergraduate level. Research is a major part of MD/PhD degree program and hence research activity is important. The candidate can then enroll in a MD and PhD dual degree to reap the advantages. Pursuing a dual degree saves time and helps to achieve both the degrees. For instance, MD degree takes 5 years, while a PhD degree requires 6 years to complete individually. In contrast, a MD/PhD dual degree can be complete in a total of 6 years, while earning both the degrees simultaneously, though depends upon the college or university.