Physician: Job Market

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What Is the Job Market Outlook for a Physician? Automated

Note: Career details on this page describe Physical Medicine and Rehabilitation Physicians. Pay and job figures come from a wider government occupation group.

👥 People Employed 342,720 BLS OEWS wage-and-salary employment
📈 10-Year Growth 2.5% As fast as average
💼 Openings/Year 9,600 Replacement + growth
📈 Net Job Change +8,600 Over projection period
💵 Median Wage (EP) $239,200 BLS Employment Projections

BLS 10-Year Projection: 2024-2034

Typical entry: Doctoral or professional degree, Internship/residency.

Of the 96,000 projected openings, approximately +8,600 are from job growth and 87,400 from replacement needs (retirements, career changes).

Employment is projected to move from 2024 (340,700 jobs) to 2034 (349,300 jobs), a net change of 8,600 jobs.

Total projected openings over the projection period: 96,000. This includes growth and replacement needs.

Physician Employment Direction Over the Next Decade

Physician employment is projected to increase over the next decade, with growth on pace with the national average. For someone weighing this career, that points to an expanding occupation whose projected growth follows the broader labor-market pace. The projection describes gradual growth in the size of the profession across the forecast period.

This projection offers a longer-term view of the field: physician employment is expected to be higher at the end of the forecast period than at its start. That increase may matter when considering how the profession is changing over time, alongside the training and work involved in becoming a physician. The projected pace gives context for career planning without promising a particular job outcome.

What Annual Openings Mean for Physicians

The annual openings estimate gives physicians a sense of how many positions may become available across the occupation over a year. It describes the volume of openings across the profession over a year. For an individual weighing this career, the figure offers broad market context.

Physician preparation typically includes a doctoral or professional degree followed by internship or residency training. That commitment gives the annual openings estimate a practical frame: it can help you consider the scale of recurring opportunities alongside the time needed to qualify. The estimate describes openings across the physician profession, while your own search will depend on the positions you pursue.

Where Physicians Work in Insurance

Insurance carriers and related activities employ a small number of physicians. This places insurance among the settings where physician work occurs, while the industry accounts for a small part of physician employment. For someone considering the career, it represents a distinct employment setting within a profession whose work is spread across other sectors as well.

The median pay reported for physicians in insurance carriers and related activities is below the overall physician median. That comparison offers context for weighing this industry as a work setting, though it does not describe every physician’s pay. The industry’s employment and pay figures can help distinguish insurance-based work from other physician settings without implying what duties a particular job involves.

Employment Trend

Physician employment is projected to increase from 340,700 in 2024 to 349,300 in 2034, a net gain of 8,600 jobs over the projection period and projected growth of 2.5%. The occupation is projected to have 9,600 job openings per year.
Year Total jobs, incl. self-employed
2024 340,700
2034 349,300

Projection based on BLS Employment Projections (base year vs. projected year).

What This Means

Physician employment is projected to expand at a pace aligned with the national average, pointing to continued but typical growth across the decade. Annual openings mean positions are expected to become available each year, giving prospective physicians a reason to consider the outlook alongside the substantial preparation required for the career. That preparation typically includes a doctoral or professional degree followed by internship or residency.

Industries with Detailed Wage Data

The industries shown below account for 550 of 342,720 jobs in this occupation (0.2%). The remaining jobs are not broken down in this table.

Industry Share of Jobs in This Occupation Employment
Insurance carriers and related activities 0.2% 550

Source: U.S. Bureau of Labor Statistics (Employment Projections & OEWS) | Data year: 2025 | Last updated: July 6, 2026

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