In this post, I will break down a GP's salary so you fully understand how it works. This is for anyone deciding to go into GP training or finishing training and still unsure of what the salary may look like.
As a GP, you can work as a salaried GP, a locum, or a partner. You can also be a portfolio GP, doing various things, or be a GP with a special interest in a different specialty.
For the purpose of this blog post, I will focus on salaried doctors, locum GPs, and a little bit about partners. Other roles earn differently based on what they do.
Salaried GPs
As a salaried GP, you are essentially employed by the practice, you work as an employee, and are entitled to all the employee benefits. The current GP salary varies from £10,000-£13,000 per session, depending on the city and your duties.
Factors influencing a GP's salary include:
- Duty sessions (overseeing the practice)
- Holding a patient list (having patients registered under you as their named GP)
- Performing home visits, etc.
Let's break it down:
A whole day between 8 AM and 6 PM is considered as two sessions. For some, it could be 8:30 AM to 6:30 PM. If you earn £10,000 per session, you would earn £20,000 per day per annum. Salaried GPs work an average of 6-8 sessions, which equals 3-4 days per week, and would be paid between £60,000-£80,000 per annum before tax. Again, that is part-time. Currently, £10,000 per session is considered low for the current economic crisis. Salaried GPs are now requesting between £12,000-£13,000 per session.
There are some added benefits as a salaried doctor:
- Your indemnity is paid for
- You get sick pay and annual leave
- In some cases, if the practice runs into profit, they could share the profit amongst employees
- Some salaried GPs get sponsored to upskill; this solely depends on the practice and your negotiations.
Locum GPs
Locum GPs earn between £700-£800 per day before tax. Many people prefer to work as locum GPs, but remember you lose all employee benefits like sick pay, maternity pay, or annual leave.
This can be very profitable if you can put in the hours. Even if you do the bare minimum, you typically earn more than a salaried doctor. A locum doctor working 3-4 days a week will earn between £4,200-£5,000 a month before tax.
However, don’t get too carried away with figures. Here are some of the monthly payouts that eat into your earnings:
- Indemnity
- Professional fees including GMC, RCGP, BMA
- Paying an accountant, etc.
- Pension
- Running a limited company
Partners
Partners own the business and control their pay. Their salaries vary; sometimes they run at a loss, and sometimes there is a lot of profit to be made. Some partners earn between £13,000-£15,000 per session. They do more and have additional roles, so there is a lot more to earn here and there.
Losses could come from several things like building or mortgage costs, employee payouts, etc. Profits come from meeting targets, vaccines, health checks, etc.
Finally
Before you decide on what you want to do, have a discussion with people, weigh the pros and cons of each role, and most importantly, do what works for you. Feel free to explore. The beauty of being a GP is the flexibility it gives you to try various things, and you can change when you want to.
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The Best wishes,
Dr. Mute