How Much Do Neurologists Make? Salary Trends & Financial Planning for Physicians

The demand for neurologists is growing, and salaries are rising alongside it. As the population ages and neurological conditions become more common, specialists in this field are seeing strong compensation and career opportunities. However, earnings can vary significantly based on location, experience, and subspecialization—all key factors that shape financial success.

For physicians in this field, a high salary comes with additional financial considerations. Medical school debt, investment strategies, and tax planning all play a role in long-term financial stability. Understanding salary trends and making strategic financial decisions can help neurologists maximize their earnings and build lasting wealth.

How Much Do Neurologists Make? A Look at Salary Trends

Neurologists earn competitive salaries, though actual earnings depend on several factors, including geographic location and employment type. According to the Barton Associates Neurologist Salary Guide, the average annual salary for neurologists is $280,000, with locum tenens neurologists earning an average of $193 per hour.

Certain states offer substantially higher salaries due to a shortage of specialists and a growing demand for neurological care. Barton Associates highlights Montana, North Dakota, and Alaska as some of the highest-paying states. Meanwhile, more competitive markets often see lower average salaries due to an increased supply of neurologists.

Factors That Influence Neurologist Salaries

• Experience Level – Earnings tend to increase significantly after a decade or more in the field.
• Locum Tenens vs. Full-Time Positions – Locum tenens neurologists often command higher hourly wages (an average of $193/hour) but may not receive the same benefits as salaried employees.
• Geographic Location – Due to increased demand, states like Montana, North Dakota, and Alaska offer some of the highest salaries.
• Subspecialization – Neurologists in fields such as vascular neurology and neurophysiology typically earn more than general neurologists.

Top-Paying States and Cities for Neurologists

A neurologist’s location plays a major role in determining earning potential. Some states and cities offer significantly higher salaries due to specialist shortages, patient demand, and cost-of-living adjustments.

Highest-Paying States for Neurologists

Industry data points to several states where neurologists consistently earn above-average salaries:

• Montana – Fewer neurologists in the state drive up demand and compensation.
• North Dakota – Lucrative for those open to practicing in rural or underserved areas.
• Alaska – Higher pay reflects the need for specialized care in remote locations.
• Wyoming – Strong compensation due to the limited number of specialists.
• South Dakota – Competitive salaries driven by a growing need for neurology specialists.

While salaries in these states are attractive, factors such as the cost of living, work-life balance, and long-term career growth should also be considered when evaluating opportunities.

Where to Find the Best Jobs for Neurologists

For neurologists looking for top-paying positions, certain cities stand out due to strong demand and competitive salaries. Many healthcare systems are actively hiring, making it an excellent time to explore career opportunities. Those seeking jobs for neurologists will find some of the best-paying roles in the following cities:

• San Francisco, CA – This city is home to major medical institutions that offer high salaries, though the cost of living is high.
• New York, NY – As a leading healthcare hub, New York has a high volume of neurology cases and strong earning potential.
• Boston, MA – Known for its medical research and academic neurology programs, Boston provides excellent career prospects.
• Houston, TX – With a large, well-funded healthcare system, Houston offers competitive salaries and job stability.
• Seattle, WA – This rapidly growing medical sector presents strong career prospects for neurologists.

While these cities offer high salaries, the cost of living and lifestyle should also be considered when evaluating opportunities.

Financial Planning Tips for High-Earning Physicians

A high salary provides financial security, but wealth accumulation requires careful planning. Neurologists face unique financial considerations, from managing student loan debt to optimizing investments and tax strategies.

Managing Medical School Debt

The average medical school graduate carries $200,000 to $250,000 in student loan debt, making a repayment strategy essential. Common approaches include:

• Refinancing loans to lower interest rates and reduce monthly payments.
• Income-driven repayment plans for those in academic or nonprofit roles.
• Public Service Loan Forgiveness (PSLF) for neurologists working in qualifying hospitals or clinics.

Paying off high-interest debt as soon as possible frees up more income for savings and investments.

Investment Strategies for Physicians

A diversified investment strategy is key to protecting and growing wealth. Neurologists should consider:

• Maxing out retirement accounts like 401(k)s, 403(b)s, or IRAs.
• Investing in index funds and ETFs for long-term, low-maintenance portfolio growth.
• Exploring real estate investments as a secondary income source.

A balanced approach to investing minimizes risk and ensures financial stability.

Tax Planning for High-Income Earners

Physicians often fall into the highest tax brackets, making tax planning essential. Working with a financial advisor can help neurologists take advantage of several tax-saving strategies, including:

• Claiming deductions for medical expenses, continuing education, and practice-related costs.
• Using tax-advantaged investment options to reduce taxable income.
• Incorporating charitable giving strategies that provide tax benefits while supporting meaningful causes.

Building Long-Term Financial Security

A high salary is just the foundation—developing smart financial habits is what leads to long-term wealth. Physicians who take a strategic approach to saving, investing, and spending can build financial independence over time. For more insights, check out smart money habits for building wealth and learn how to make the most of a high-income career.

Conclusion

Neurology offers strong earning potential, job security, and long-term career growth. Salaries vary based on location, experience, and subspecialization, with top-paying positions often found in states where demand for specialists is high. Physicians aiming to maximize financial success should explore high-paying locations or career advancements.

However, earning a high salary is just the first step—strategic financial planning is what leads to true wealth. By managing debt wisely, investing for the future, and optimizing tax strategies, neurologists can achieve long-term stability and financial independence.