Anesthesiologist Salary Guide 2026: Private Group, Academic & Pain Management

Anesthesiology consistently ranks among the three to five highest-compensated physician specialties in the United States. In 2026, demand for anesthesiologists has intensified as elective surgical volume has recovered post-pandemic, ambulatory surgery centers have expanded significantly, and the push to perform more joint replacements and bariatric procedures in outpatient settings has strained anesthesia coverage at both hospitals and ASCs. Meanwhile, the subspecialty of interventional pain management has carved out its own high-compensation track with a different clinical lifestyle than traditional intraoperative anesthesia.

Anesthesiologist salary overview (2026)

Practice setting / subspecialty	Typical total compensation
Private anesthesia group (associate)	$420,000–$520,000
Private anesthesia group (partner)	$520,000–$700,000+
Hospital-employed anesthesiologist	$390,000–$520,000
Academic medical center	$320,000–$430,000
Cardiac / cardiothoracic anesthesia	$520,000–$750,000
Pediatric anesthesia	$450,000–$650,000
Regional anesthesia / ERAS specialist	$420,000–$560,000
Interventional pain management (outpatient)	$480,000–$750,000
Chronic pain (academic / employed)	$350,000–$500,000
Locum tenens anesthesia	$220–$280/hr ($380,000–$550,000 annualized)
VA / federal system	$290,000–$410,000 (PSLF + EDRP eligible)

National median: approximately $460,000–$480,000 total compensation (2026) across all anesthesiologists, per MGMA and AMGA survey data. Subspecialists in cardiac anesthesia and interventional pain consistently rank in the top 10th percentile of all physician compensation nationwide.

Private group vs. hospital-employed: the key trade-offs

The central compensation and lifestyle question for most anesthesiologists is whether to join a private anesthesia group or accept a hospital-employed position. Key differences:

Factor	Private group	Hospital-employed
Total comp ceiling	$550,000–$700,000+ (partner)	$390,000–$520,000
Partnership buy-in	$100,000–$400,000 (typical)	None
Business risk	Shared; contract loss affects income	Lower; hospital absorbs
Schedule control	Variable; depends on group culture	Defined work hours common
Benefits	Must purchase individually (expensive)	Employer-provided
CRNA supervision ratio	Negotiated per case	System policy determines

Cardiac anesthesia: the premium subspecialty

Cardiac and cardiothoracic anesthesia is the highest-compensated anesthesiology subspecialty. Cardiac anesthesiologists manage anesthesia for open-heart surgery, TAVR/TAVI, LVAD placement, heart transplant, and thoracic procedures — cases that are longer, higher-acuity, and generate more wRVUs per case than standard surgical anesthesia. Key facts:

• A single open-heart bypass case (CABG) generates 22–30+ wRVUs in base anesthesia units (at 15 minutes per unit, a 6-hour bypass procedure generates approximately 24 base units + time units). At $65–$80/wRVU equivalent, a single day of cardiac cases can generate $3,000–$5,000+ in professional fees.
• Cardiac programs at tertiary care centers run consistent volume, and the fellowship-trained cardiac anesthesiologist shortage is acute — starting compensation for board-certified cardiac anesthesiologists at high-volume programs ranges $550,000–$750,000.

Interventional pain management: the lifestyle-optimized high earner

Interventional pain management — typically practiced by anesthesiologists, physiatrists, or neurologists who complete pain fellowship training — involves procedures like epidural steroid injections, spinal cord stimulator implantation, facet joint injections, and radiofrequency ablation, performed in outpatient or ASC settings without intraoperative anesthesia. Key advantages over traditional anesthesia practice:

• No call: Most pain management practices are outpatient with standard business hours. No overnight emergency coverage, no 24/7 on-call obligation. This is a major quality-of-life advantage over intraoperative anesthesia.
• High procedure volume: A busy interventional pain practice can perform 20–35 procedures per day at a combination of office and ASC settings, generating 15,000–25,000 wRVUs annually at $70–$85/wRVU conversion rates — total: $1,000,000–$2,000,000+ in professional fee collections before overhead.
• ASC ownership opportunity: As with orthopedics, pain management physicians frequently co-own ASCs where they perform their procedures. The facility fee on spinal cord stimulator implantation and other pain procedures at physician-owned ASCs represents substantial additional income beyond professional fees.
• Compensation range: Employed or single-specialty pain management: $480,000–$600,000. Private group partner with ASC ownership: $700,000–$1,200,000+.

CRNA supervision and the anesthesia care team model

The structure of CRNA supervision significantly affects anesthesiologist compensation and workload. Two models:

• Medical direction (1:4 maximum): The anesthesiologist medically directs up to 4 CRNAs simultaneously. Each case bills at the physician direction rate (which is lower than solo billing, but the physician is running 4 ORs). At high-volume centers, medical direction can generate very high total revenue relative to physician time invested.
• Solo / CRNA supervision (1:1 or 1:2): The anesthesiologist supervises fewer CRNAs but with more direct oversight per case. Common at academic centers or smaller facilities. Lower per-physician revenue but more direct patient contact.
• CRNA-only models: Some facilities operate with CRNAs providing all anesthesia care independently (permitted in opt-out states). In these settings, anesthesiologist demand may be lower — relevant for physicians evaluating practice markets.

What we see at Ava Health

Anesthesiology is one of our most active physician sourcing specialties. The combination of high compensation ceiling, an acute fellowship-trained shortage, and growing surgical volume across Florida and the Gulf South makes anesthesiology placements a priority for our team. Cardiac anesthesia and interventional pain management are our hardest-to-fill subspecialties — pipeline is thin and candidates are typically fielding multiple offers simultaneously. For systems needing locum anesthesia coverage, we maintain a network of locum-eligible anesthesiologists who can deploy on short notice to cover OR shutdowns or transitions between permanent hires.

Related: CRNA Salary Guide, General Surgeon Salary Guide, Radiologist Salary Guide, Locum Tenens Physician Salary Guide.