Retirement Intentions Of Female Versus Male Physicians

Abstract

Since the percentage of active female physicians in the United States is increasing rapidly, their retirement behavior will represent an important organizational and policy consideration in years to come. The present study, is the first to explore possible differences in retirement intentions among female versus male physicians. Findings are based on data obtained from a random national survey of nearly four thousand physicians regarding factors potentially relevant to their retirement. Our empirical analysis identifies several factors that are correlated with male and female physicians retirement intentions. Significant factors affecting male physicians retirement decisions include: expected social security income, pension income, the availability of early retirement incentives, decreasing annual income, current age, the existence of dependents in the family, years of service as a physician, the health status of ones spouse, stress/burnout, personal interests, the availability of part-time jobs, and general working conditions. In the case of female physicians significant variables are: other expected income, perceived adequacy of retirement income, current age, years of service, work stress/burnout, the availability of part-time jobs, and the employment setting. An understanding of these factors is potentially important for healthcare administrators in dealing with the retention and retirement issues of the female and male physicians and may lead to more effective institutional decision making in this regard.