Unsure what the US situation is, but there are a lot of benefits to earning $120k/year in a business/professional corporation vs. a salary.

At least in Canada anyway.

In the US the vast majority of family docs and internists work on salary, so the benefits do not apply.

My understanding is the tax code in Canada is pretty unique when it comes to doctors.

It’s not quite as great as it used to be, but the provinces do have a history of changing corporation laws in their favour.

And often get their liability insurance paid for too.

Yeah, and I’ve heard there is talk about rolling some of that back even further.

What year are your numbers from?Per medscape 2019 study average compensation is 330k. Q1 around $250k iirc.

Granted this is word of mouth from several years ago amongst new grads looking for jobs in NYC and Boston, some in SF, who were looking to stay in academic centers. I would say that's the worst case scenario. (there's a huge line of aspiring NIH PI's who are willing to work for peanuts for UCSF, Mass General, etc. The NIH training grants who are supposed to compensate for "75% time" are $98k/year...so do the math for the full 100%...).

For the Medscape study, I would say it's good to see the numbers are better in the private practice world, nationwide. But - most MD's will be presumably internal medicine and you'd have to look at the breakdown. The low end jobs in primary care, public health, etc start at $200k, and most folks who aren't surgeons or ophalmologists or dermatologists are in the low-mid $200's. That's assuming you graduate from residency in your late 20's or early 30's w/ the $350-500k in debt or whatever it is these days, unless you took the National Health Services or DoD scholarships, whereupon you then owe them 4-8 years of your life...