WalletHub: New Jersey is 2024’s 3rd worst state for doctors

NEW JERSEY – New Jersey is 2024’s 3rd worst state for doctors, according to a study done by WalletHub.

With National Doctors’ Day coming up on March 30 and a family physician’s salary ranging from around $130,000 to $310,000, depending on the state, the personal-finance website WalletHub Monday released its report on 2024’s Best & Worst States for Doctors to help pinpoint where doctors can find the most financial success and the best quality employment.

To identify the best states for doctors (and for patients who want the best care), WalletHub compared the 50 states and the District of Columbia across 19 key metrics.

The data set ranges from the average annual wage of physicians to the number of hospitals per capita to the quality of the public hospital system.

Practicing in New Jersey (1=Best, 25=Avg.):

• Overall Rank: 49^th
• 47^th – Avg. Annual Wage of Physicians (Adjusted for Cost of Living)
• 36^th – Avg. Monthly Starting Salary of Physicians (Adjusted for Cost of Living)
• 51^st – Hospitals per Capita
• 26^th – Insured Population Rate
• 29^th – Projected % of Population Aged 65 & Older by 2030
• 40^th – Projected Physicians per Capita by 2030
• 45^th – Malpractice Award Payout Amount per Capita
• 39^th – Annual Malpractice Liability Insurance Rate