What is the average annual salary for a cardiologist?
The average annual salary for a cardiologist in the United States is around $500,000, making it one of the highest-paid medical specialties.
According to Medscape's 2024 Physician Compensation Report, the average annual income for cardiologists was $525,000, ranking the specialty as the third highest-paid behind orthopedics and plastic surgery.
Cardiologist salaries can vary significantly by geographic location.
For example, cardiologists in Oregon earn on average 55% more than the national average.
Experience level is a major factor, with early-career cardiologists earning around $357,000 on average compared to over $500,000 for those with 11-20 years of experience.
Cardiologists who subspecialize, such as in interventional cardiology or electrophysiology, tend to earn higher salaries than general cardiologists.
Gender pay gap persists in cardiology, with male cardiologists earning on average 20% more than their female counterparts.
The average cardiologist salary has increased by about 3% annually over the past few years, outpacing inflation and the raises seen in many other medical specialties.
In addition to their base salary, many cardiologists also earn substantial bonuses and incentive pay, which can make up over 40% of their total compensation.
Cardiologist salaries are significantly higher in urban areas compared to rural regions, with those practicing in major metropolitan markets earning up to 30% more.
Cardiology residency programs are highly competitive, with only about 1 in 4 applicants matching into a cardiology fellowship each year.
The cost of medical education, with average medical school debt around $200,000, is a major factor driving high salaries for cardiologists to help recoup those expenses.
Cardiologists often work long hours, with many reporting 60-80 hour work weeks, contributing to their high earning potential.
Cardiology is one of the most in-demand medical specialties, with a predicted shortage of over 8,000 cardiologists in the U.S.
by 2025 driving up compensation.
Cardiologists treating patients with complex, high-acuity conditions can earn significantly more than those focused on general preventive cardiology.
The top-earning cardiologists may make over $800,000 annually, with those in private practice or owning their own clinics earning the highest salaries.
Geographical differences in the cost of living are reflected in cardiologist salaries, with those in high-cost areas like the Northeast and West Coast earning more.
Cardiology is one of the few medical specialties where income is not capped by Medicare/Medicaid reimbursement rates, allowing for higher earning potential.
Cardiologists who take on administrative or leadership roles within their healthcare organizations can earn significant additional compensation.
Factors like malpractice insurance costs, productivity targets, and revenue generation ability also impact a cardiologist's total earnings.
The salary disparity between cardiologists and primary care physicians has grown over the past decade, with cardiologists now earning nearly double the average PCP income.