Dr Phil’s enormous salary per episode will definitely leave other TV hosts dreaming of such success
Several talk shows and game shows have achieved an iconic status in American television history and a lot of credit for it goes to the faces and voices that remain synonymous with them. Dr. Phil McGraw served as one of America's favorite hosts for 21 years on his daytime talk show, "Dr. Phil," on CBS. He was also known as Oprah Winfrey's favorite psychologist during the program's successful final run. Throughout his career, McGraw earned an impressive salary that helped him amass a $460 million fortune. The host who has also expanded his entertainment empire with different ventures over the years, reportedly earned a salary of $80 million as per Celebrity Net worth.
Dr. Phil was entitled to 50% of the ad revenue, which means that if he made $50 million from advertisements in a year, it could be broken down to more than $308,000 per episode. According to Celebrity Net Worth, McGraw has a staggering net worth of $460 million as of 2024. The former psychologist, TV personality, and business mogul earns about $60 to $90 million from his various endeavors.
As of 2019, he bagged a whopping $95 million in annual salary, making him the highest-paid TV host, according to Forbes. In 2020, the publication estimated his yearly earnings to be $65.5 million.
From Psychologist to Familiar Face on TV
With a Ph.D. in clinical psychology, the Oklahoma native started his career working as a psychologist in private practice with his father in Wichita Falls, Texas. He later co-founded Pathways self-help seminars with local businesswomen in 1985 and sold the company for $325,000, about six years later, according to Parade.
In 1990, McGraw co-founded Courtroom Sciences Inc. (CSI), a trial consulting firm, alongside attorney Gary Dobbs. The venture also turned out to be massively successful with clients including major airlines and Fortune 500 companies. Through his work at CSI, McGraw met Oprah Winfrey who hired the firm in 1995 to help her prepare for the Amarillo Texas beef trial.
First Break on TV
Winfrey loved McGraw's work so much that she invited him to be on "The Oprah Winfrey Show" after the case was wrapped up in 1998. McGraw first appeared as a weekly guest giving relationship and life advice to audience members.
Those early appearances gained national recognition and fame for McGraw and he eventually went on to host his own, "Dr. Phil Show" in 2002, under the banner of Winfrey's Harpo productions.
McGraw chose to renew his license to practice, as he became a TV celebrity. After a glorious run on CBS, the 2022-2023 season of the talk show was revealed to be the last season. "I have been blessed with over 25 wonderful years in daytime television," McGraw said in a statement to People in January 2023. "This has been an incredible chapter of my life and career, but while I'm moving on from daytime, there is so much more I wish to do," he added.
McGraw owns 100% of the contents of his show and as per Forbes, he pays CBS to distribute the show in exchange for a cut of the advertising revenue and product placement. Apart from his talk show, McGraw also raked in cash as a podcaster, author, and TV producer of several other shows, including "The Bull", "Daily Mail TV", and "The Doctors." He also featured in cameos in films, including Scary Movie 4.
McGraw is also a private pilot, the founder of the Dr. Phil Foundation which has a mission to fight childhood obesity, and the co-founder of the telemedicine platform, Doctors On Demand.
