Average Dentist Salary: How Much Do Dentists Make?
The average dentist salary is $164,010, but specialists and dentists who own practices earn much more.
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The average dentist salary is $164,010, according to the most recent data from the Bureau of Labor Statistics.
But that may not represent how much dentists make. For example, the American Dental Association looks at a dentist's net income, which accounts for a practice's expenses as well. The ADA's most recent data lists the average net income among general dentists at $170,164.
No matter how you measure it, dentistry is one of the highest-paying professions. But it comes at a cost: The average dental school debt among class of 2020 dental school graduates with debt was $304,824.
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How much do dentists make?
The average net income for all dentists in 2020 was $170,164, according to the ADA. That number was higher among dental specialists ($323,776).
Average dentist salary by state
The location of your dental practice can greatly impact your potential earnings. For example, the average salary of a general dentist in Rhode Island as of May 2020 was more than $125,000 greater than a general dentist in Wyoming, per the Bureau of Labor Statistics.
You can view average dentist salary data for all states on the BLS website.
Paying off student debt on a dentist’s salary
Even if you're earning a six-figure dentist salary, student debt can be a drag on your finances. While lenders may have mortgages and small business loans that look past a dentist's debt-to-income ratio, for example, your monthly student loan bills could still hurt your cash flaw.
Plus, dental school loans could cost you tens of thousands of dollars in interest. An average debt balance of $292,169 with a 7% interest rate would accrue around $115,000 in interest over 10 years.
You could potentially free up additional cash, become debt-free faster and save on interest in the long run by refinancing to a lower interest rate. If you refinanced to a 5% rate from a 7% rate, you’d save more than $35,000 over 10 years.
But refinancing dental school loans isn’t right for everyone. You give up government loan benefits like income-driven repayment when you refinance federal student loans. Evaluate all your dental school loan repayment options to find the right solution for you.