Pediatricians may work for hospitals, health clinics, or government agencies. Many are self-employed, opening their own private practice offices or becoming partners with other physicians in clinics. Some also work in universities as professors.
Earnings for pediatricians vary depending on their location, experience, and whether or not they practice a subspecialty. For example, pediatric residents make much less than fully-qualified pediatricians, often earning between $35,000 and $60,000 a year. Also, those who have training in a subspecialty, such as pediatric cardiology, usually earn more than those whose training is in general pediatrics.
The average annual income for specialist physicians, a group which includes pediatricians, is somewhere between $140,000 and $180,000 a year. Newly certified pediatricians who find full-time employment may earn around $100,000 until they gain more experience. However, those who have large, successful practices and many years of experience, or who work their way into senior positions in large hospitals, can make well over $250,000 a year.
Salaried physicians who work for hospitals and other medical organizations receive benefits in addition to their salaries. Benefits may include health and life insurance, pension plans, and paid vacation and sick days. Doctors who work for themselves must supply their own benefits.