Cardiologists’ salaries depend on a variety of factors, including geographical location, employer type, work setting, area of specialty, and years of work experience.
Cardiology doctors with 1 to 4 years of experience typically earn from $41,459 to $401,335 a year, and those with 5 to 9 years of experience make between $80,537 and $400,797 a year.
Cardiologists with 10 to 19 years of experience are generally paid between $51,064 and $440,421 annually, and professionals with 20 or more years of experience report salaries in the range from $99,554 to $425,743 a year according to Payscale.
Average salary
The average salary for cardiologists employed in the United States is $210,019 a year including bonus earnings according to Payscale’s salary data. The median salary for this occupation varies depending on a wide range of factors, from location and employer type to hospital setting and field of specialization.
The yearly bonuses depend on a wide range of factors, including professional experience. Cardiologists with 1 to 4 years of experience get $6,278 a year on average in bonuses, those with 5 to 9 years of experience report getting around $750 a year, doctors with 10 to 19 years of experience get $20,347 a year on average, and those with 20 or more years of experience under their belt report getting around $10,113 a year in bonuses according to Payscale.
The median salary for cardiologists varies significantly from state to state. For example, cardiology doctors based in Minnestota earn $206,000 a year, those employed in Nevada make around $200,000 a year, and cardiologists working in South Dakota earn $204,000 a year on average. Professionals in New Hampshire make around $201,000 a year, and those based in Indiana are paid around $203,000 annually according to salary information provided by HealthcareSalaries.com.
Salary range
Cardiologists typically earn salaries in the range from $71,216 to $413,626 a year including bonuses according to Payscale. Without bonus earnings, which can amount to up to $50,894 a year, the average salaries for cardiology doctors range from $67,871 to $396,865 a year.
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In terms of employer type, cardiology doctors working at hospitals generally earn from $49,276 to $357,959 a year, those employed by private practices make between $97,871 and $446,982 a year, and professionals working for companies are paid between $78,611 and $178,039 annually. Cardiologists employed by colleges and universities typically have salaries in the range between $98,264 and $264,515 a year according to Payscale’s salary data.
Area of specialty plays a major role in determining a cardiologist’s salary. For example, pediatric cardiologists earn around $241,014 a year, and interventional cardiologists are paid an average salary in the amount of $312,361 annually. Invasive cardiologists earn between $77,566 and $373,127 a year, and non-invasive cardiologists report salaries in the range from $82,550 to $364,966 a year.
The 2013 Cardiologist Compensation Report released by Medscape reveals that only 8% of these professionals make less than $100,000 a year, while 2% earn between $100,000 and $150,000 annually, and 6% earn from $150,000 to $200,000 a year.
10% of cardiology doctors are paid between $200,000 and $250,000 a year, 11% make between $250,000 and $300,000 a year, and 13% report an annual income of $300,000 to $350,000.
9% of the cardiologists included in the salary survey earn between $350,000 and $400,000 a year, a further 9% of them make from $400,000 to $450,000 a year, and 8% earn between $450,000 and $500,000 a year. On the upper end of the scale, 12% of cardiology physicians earn between $500,000 and $600,000 a year, 6% make between $600,000 and $700,000 annually, and 2% earn from $700,000 to $750,000 a year. 3% of the cardiologists surveyed report salaries of $750,000 a year or more.
Starting salary
The starting salaries for cardiologists typically range from $180,000 to $250,000 a year according to HealthcareSalaries.com. With five years of experience, the average salaries increase to between $300,000 and $400,000 a year. The starting salary for this occupation will largely depend on employer type, industry, academic background, and location.
The American Medical Group Association (AMGA) reports that the median starting salary for the profession is around $292,000 a year.
Benefits
Benefits are among the factors that can reflect a cardiologist’s salary. Cardiologists who get malpractice or liability insurance as part of their benefits package typically earn between $100,671 and $434,290 a year, those who get life or disability insurance make between $49,460 and $437,309 a year, and doctors who get 401(k) plans earn from $99,554 to $418,359 a year. Cardiology doctors who have a company pension plan included among their benefits report annual salaries in the range from $125,000 to $300,000. Cardiologists who get paid holidays and vacations typically earn between $48,784 and $437,309 a year, and those who get paid sick leave are paid between $48,380 and $414,257 annually according to Payscale.
The most popular benefits among cardiologists are 401(k) plans, malpractice and liability insurance, paid holidays, life and disability insurance, and paid sick leave.
Salary by state
Cardiologist salaries are different from state to state. For instance, professionals employed in New York report earning between $96,354 and $393,581 a year, those based in California make between $20,608 and $436,311 a year, cardiologists working in Texas are paid between $142,482 and $297,476 a year, and those based in Ohio report salaries in the range from $155,000 to $325,000 a year according to salary statistics provided by Payscale.
Salary by city
Cardiologists’ salaries can vary greatly from city to city, too. For example, cardiology doctors employed in New York typically earn between $50,684 and $399,281 a year, while those based in Los Angeles have salaries in the range from $35,050 to $112,500 a year according to salary information provided by Payscale.
Hourly wage
Cardiologists earn around $105.66 per hour on average according to HealthcareSalaries.com. The top 10 percent are offered an hourly rate of around $200, while the lower 10 percent earn $70 per hour. The average hourly rate for this occupation depends on a number of factors, from professional experience, employment situation, and work setting to employer type and location.
Other income factors
The number of hospital beds is another factor that can affect a cardiologist’s salary. To illustrate, cardiology doctors working in institutions with less than 50 beds generally earn between $98,264 and $242,419 a year, those employed in institutions with 100 to 299 beds typically make between $102,789 and $291,632 a year, and professionals working in institutions with 300 to 499 hospital beds are paid between $155,050 and $434,483 annually according to Payscale’s salary data.