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Are Doctors in the UK Overpaid?

Becoming a doctor in the UK takes years of education, internships and exams. It is a difficult and important job that few are qualified for. So, why are politicians and even average citizens grumbling about the high salaries of primary care givers in the UK? Are doctors overpaid?

According to a recent report, doctors in the UK are extremely well-paid when compared with their European peers. For example, a doctor in the UK makes more than twice as much as an MD in Spain or Italy and nearly double what a French doctor takes home. In fact, the only European physicians who make anywhere even close to UK doctors are German doctors. And even they earn about twenty thousand pounds less per annum.

Internationally, the only foreign physicians who earn more than doctors in UK are those that reside in the US. Of course, the US does not, at present, have a national healthcare system like the others. So, is it fair that doctors in other Europeans countries are stuck driving second hand used cars to work while physicians in the UK arrive in Bentleys?

One of the most important things to consider when examining any industry or profession is supply and demand. For instance, the reason that doctors in Italy receive far lower salaries than those in the UK (less than half) is that there are actually too many doctors in Italy. And whenever there is an excess of supply, only the top practitioners are going to command higher compensation packages while the rest struggle.

What do we know about doctors in the UK? Well, as you might expect, there aren't enough of them. And as a result they are able to demand much higher salaries than their European peers who are working in more competitive markets.