How employer belt tightening is affecting young physicians

Young physicians not receiving an annual raise was the most reported example of employers making financial cuts, according to Medscape‘s “2023 Young Physician Compensation Report.”

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The report, which surveyed 10,011 participants across more than 29 specialties between October 2022 and January 2023, defined “young physicians” as those 40 and younger.

In this report, 72 percent said they had not experienced any of the potential cutbacks asked about in the survey.

Here is how employer belt tightening is affecting young physicians:

Potential cutback

Percentage

Not given annual raise

13 percent

Hours reduced

5 percent

Staff hours reduced

1 percent

Personally work part time rather than full time

1 percent

Raises delayed or not given

1 percent

Some staff work part time rather than full time

1 percent

Staff laid off

1 percent

Personally laid off

1 percent

Personally furloughed

Less than 1 percent

Staff furloughed

Less than 1 percent

Other

6 percent

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