Physician · Salary Comparison · 2026
Physician Salary: Memphis, TN vs New York, NY
Side-by-side comparison of salary, taxes, cost of living, and take-home pay for Physicians in Memphis, TN and New York, NY, based on BLS OEWS 2026 data.
1Which City Pays More After Tax?
Higher Gross Salary
✓ New York, NY
$195,000 vs $250,000
Better Purchasing Power
✓ Memphis, TN
$234,940 vs $133,690
Best Take-Home (COL-Adj)
✓ Memphis, TN
$217,084 vs $115,068
2
Detailed Comparison
| Metric | Memphis, TN | New York, NY | Diff |
|---|---|---|---|
| Median Annual Salary | $195,000 | $250,000▲ | -$55,000 |
| 25th Percentile | $146,000 | $188,000▲ | -$42,000 |
| 75th Percentile | $256,000 | $328,000▲ | -$72,000 |
| 90th Percentile | $318,000 | $408,000▲ | -$90,000 |
| Cost of Living Index | 83 | 187 | -104 |
| State Income Tax | 0%▲ | 6.85% | -6.85% |
| COL-Adjusted Median | $234,940▲ | $133,690 | +$101,250 |
| Est. Annual Take-Home | $180,180 | $215,177▲ | -$34,997 |
| COL-Adj. Take-Home | $217,084▲ | $115,068 | +$102,016 |
| Total Employment | 5,000 | 22,000 | -17,000 |
▲ = Higher value wins for this metric. Diff = Memphis, TN minus New York, NY.
3Summary Analysis
On paper, New York, NY pays $55,000 more (median: $195,000 vs $250,000). However, after adjusting for cost of living (index 83 vs 187), Memphis, TN provides better purchasing power ($234,940 vs $133,690 equivalent). Memphis, TN has no state income tax, which is a significant advantage.
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Data: U.S. Bureau of Labor Statistics OEWS · 2026 · Cost-of-living indices from composite metro area data. Take-home estimates approximate only — consult a tax professional for accurate figures.