A question we often get is "how much money do naturopathic doctors make?" It is an important question that should be asked by anyone interested in a new field or going back to school.
According to the AANMC, naturopathic physicians practicing full time in the United States make and average annual salary of about $90,000. As a reference point, the average income for a single person (based on tax filing status) in the United States is about $35,000.
Obviously, the cost of going back to school must be considered, but the significant salary increase from the American average provides a quality return on investment. Like any career, salaries vary widely depending on physical location, amount of experience, specializations and other factors. Many naturopathic doctors earn well into the six-figures.
Many get caught up in looking at the hard numbers when it comes to salary and they fail to acknowledge other important factors such as work life balance and overall happiness. 70% of naturopathic physicians are satisfied or very satisfied with their work life balance. The satisfaction rate is only 41% among other physicians.
Furthermore, this Princeton study shows that money only relates to happiness up to a certain point. The study found that the "happiness income benchmark" in the United States is about $75,000. Once someone earns more than that in annual salary, their day to day happiness does not continue to grow with their income and can even begin to decrease. As salaries get extremely high, work-life balance suffers greatly.
The comfortable salary and high work-life satisfaction rates among naturopathic physicians are great, but the real reason for picking a career is following your calling. You have one life to lead, so spend it doing something you look forward to everyday. If you want to help others and leave the world a better place than you found it, know you can do so while still maintaining a high quality of life outside of work.
We hope this helps, but if you have any further questions please contact our admissions department, we would love to hear from you.