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Cardiologists are one of the highest-earning physician specialties in the United States. According to a recent report by Doximity, cardiologists are the 7th highest-paid specialty in the United States, with an average annual salary of $544,201.
This figure is also reflected in a Medscape report in 2023, which ranked Cardiology the third highest-paying specialty in the United States, with an average annual salary of $507,000.
When reading these numbers, it’s vital to recognize that cardiologist compensation can vary significantly due to different factors such as specialties, sub-specialties, and geographic location.
For example, invasive cardiologists are the highest-earning sub-specialty for cardiologists, and cardiologists working in outpatient care centers earn the most.
Geographic location also plays a role. For instance, cardiologists in Idaho earned approximately $521,000 annually, while those in Nebraska earned roughly $246,000.
Bonuses also vary between locations and tend to be higher in locations with a higher demand for cardiologists.
In this article, we’ll delve into cardiologist salaries and how they can vary depending on geography, years of experience, and other professional qualifications.
Key Takeaways
- The average salary of cardiologists in the United States is $544,201
- Cardiologist salaries vary widely and are influenced by experience, location, and subspecialty factors.
- The demand for cardiologists remains consistently high, contributing to overall earning potential.
- Understanding average earnings is essential for those entering or considering a career in cardiology.
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Are Cardiologists’ Average Salary Increasing or Decreasing?
Cardiologist salaries are rising faster than many other specialties. In 2022, a Medscape report found that Cardiologist salaries increased by 4%.
In a 2023 report by Medscape, the average cardiologist’s salary was $507,000, a 3.5% increase from the 2022 cardiologist’s average salary of $490,000. In another study, Pediatric cardiologists had the 6th highest increase in annual salary, with a 3.5% increase in 2022.
Do Cardiologists Receive Incentives or Bonuses?
Cardiologists, like many physicians, receive incentives and bonuses. In 2023, the average annual incentive compensation for cardiologists was $88,000. This was the second highest incentive compensation for physician specialties, behind orthopedics.
Do cardiologists take extra work for additional income?
Only 35% of cardiologists take on some level of extra work to earn additional income.
Common types of extra work that cardiologists take on include:
- Other medical-related work
- Medical moonlighting
- Other non-medical related work
- Working additional hours as a primary physician
Do Cardiologists feel fairly compensated?
While cardiologists were one of the highest-paying specialties in the United States, only 55% felt fairly compensated.
This reflects the overall sentiment in the physician community, with only 52% of all physicians feeling fairly compensated.
Cardiologists had the 12th-highest compensation score out of 29 specialties compared to other specialties.
Factors Affecting Cardiologist Salary
Experience Level
As with any position, a cardiologist’s experience influences their salary.
An entry-level cardiologist will earn less than someone with more training, experience, and skills.
There isn’t much data to show how the salary of a cardiologist evolves as they gain more experience. However, if we use payscale as a proxy to determine how a cardiologist’s salary may change with experience, we can come up with the following median annual salary at different levels of experience:
- Entry Level Cardiologist – $250,000
- Early Career Cardiologist – $330,846
- Mid-Career Cardiologist – $405,000
- Experienced Cardiologist – $580,000
- Late Career Cardiologist – $480,000
As an entry-level cardiologist, you are likely earning half or less than half the average national salary as a cardiologist. As a cardiologist makes more experience and goes from entry-level to early-career, they can expect a $100,000 increase in salary or more.
Finally, as cardiologists enter the middle of their careers and gain more experience, they can expect to earn near the average annual salary of a cardiologist and potentially more. Interestingly, late-career cardiologists might expect to experience a lower annual salary than their early years.
Location
Your geographical location where you decide to practice cardiology will influence your salary. This is not a phenomenon unique to cardiologists but all Physicians.
A recent study by Doximity found that the average physician salary in the highest earnings metro area was approximately $431,000, and the lowest metro area was $342,000. This is nearly a $100,000 difference in average salary based on location. The BLS took this analysis further by performing a geographical occupational survey for cardiologists. Below is a table of the breakdown of Cardiologist’s annual average salary and average hourly wages by state.
| State | Hourly Mean Wage | Annual Mean Wage |
|---|---|---|
| Idaho | $250.81 | $521,690 |
| Ohio | $242.26 | $503,900 |
| Indiana | $234.80 | $488,380 |
| Pennsylvania | $229.97 | $478,340 |
| Alabama | $224.05 | $466,030 |
| Maryland | $219.37 | $456,280 |
| Florida | $206.16 | $428,810 |
| Texas | $198.81 | $413,510 |
| North Carolina | $198.30 | $412,460 |
| Michigan | $195.32 | $406,270 |
| Washington | $193.60 | $402,290 |
| New Hampshire | $193.49 | $402,450 |
| Missouri | $178.32 | $370,910 |
| Massachusetts | $174.28 | $362,510 |
| Connecticut | $168.89 | $351,290 |
| New York | $167.72 | $348,860 |
| Montana | $166.69 | $346,720 |
| Mississippi | $160.41 | $333,650 |
| California | $160.06 | $332,920 |
| Nebraska | $119.41 | $248,370 |
There is a large discrepancy between the highest-earning state and the lowest-earning state. The highest-earning state (Idaho) has an annual mean salary of $522,000. In contrast, the lowest-earning state for cardiologists has an annual mean wage of $248,000, which is half of nearly half of the compensation.
This study shows a location’s impact on a cardiologist’s salary.
Some factors that influence the salary differences between states are the supply of cardiologists, the demand for cardiologists, the cost of living, and the number of opportunities available.
That said, it’s essential to recognize that these states also vary in cost of living. The cost of living dramatically varies across the country, with metropolitan areas generally being more expensive. This means that while some states offer higher compensation for cardiologists, the buying power of that salary may be severely diminished by higher basic living expenses.
Specialization
As with most physicians, your specialization within your specialty can significantly impact your salary.
Some of the most common cardiology specialties include:
- Interventional Cardiology
- Invasive cardiology
- Non-Invasive Cardiology
- General Cardiology
- Pediatric Cardiology
Below, we can see the differences in annual salary for different cardiology specialties.
| Specialty | Median Annual Salary | Source |
|---|---|---|
| Non-Invasive Cardiologist | $470,900 | https://www.salary.com/research/salary/alternate/cardiologist-non-invasive-salary/ca |
| Invasive Cardiologist | $522,331 | https://www.salary.com/research/salary/benchmark/cardiologist-salary/los-angeles-ca |
| Interventional Cardiologist | $432,532 | https://www.salary.com/research/salary/hiring/interventional-cardiologist-salary |
| Pediatric Cardiologist | $333,561 | https://www.salary.com/tools/salary-calculator/physician-pediatric-cardiology/ca |
There is quite a large difference between the highest-paid specialty and the lowest-paid specialty. Invasive cardiologists are the highest earners, with a median annual salary of $522,331. On the other hand, pediatric cardiologist is the lowest earning specialty with a median yearly salary of $333,561. This is nearly a $200,000 difference in median annual salary depending on the specialty of a cardiologist.
As expected, the top 90% of earners vary drastically depending on the specialty. Invasive cardiologists, the top 10% of earners, have an annual salary of approximately $768,000, while the top 10% of non-invasive cardiologists can earn roughly $660,000.
Type of Workplace
The type of hospital or medical facility where you work can also affect your salary as a cardiologist. Working at a large, well-known healthcare institution or private hospital often comes with a higher wage than smaller hospitals or clinics.
The BLS did an in-depth study looking at the difference in salaries at 23 different working locations for cardiologists, but we will focus on the top 14.
| Location Typ | Hourly Mean Wage | Annual Mean Wage |
|---|---|---|
| Outpatient Care Centers | $212.70 | $442,410 |
| Sector 62 – Health Care and Social Assistance | $206.96 | $430,470 |
| Cross-industry, Private Ownership Only | $204.41 | $425,180 |
| Cross-industry, Private, Federal, State, and Local Government | $202.56 | $421,330 |
| General Medical and Surgical Hospitals – Privately Owned | $182.36 | $379,300 |
| Hospitals – Privately Owned | $181.87 | $378,290 |
| General Medical and Surgical Hospitals | $180.91 | $376,280 |
| Hospitals | $180.36 | $375,160 |
| General Medical and Surgical Hospitals – State government owned | $172.38 | $358,540 |
| Hospitals – State government owned | $172.38 | $358,540 |
| Hospitals – Local government owned | $165.89 | $345,050 |
| General Medical and Surgical Hospitals – Local government owned | $165.89 | $345,050 |
| Local Government, including schools and hospitals | $164.89 | $342,960 |
| Specialty | $158.02 | $328,690 |
The study found that cardiologists earn the most in outpatient care centers, with an average annual salary of $442,410. But, in locations such as local government-owned hospitals, cardiologists earn an average annual salary of $345,050.
There is nearly a $100,000 difference in annual salary depending on where you are working. For example, one might assume that all cardiologists earn the same amount if they are working in a hospital. This is not the case; cardiologists in privately owned hospitals earn $378,000, those in surgical hospitals earn $379,000, and those in state government-owned hospitals earn only $352,000.
Frequently Asked Questions
How does a non-invasive cardiologist’s salary compare to an invasive cardiologist?
On average, it seems that invasive cardiologists earn more than their non-invasive cardiologist counterparts. The median annual salary for an invasive cardiologist was $522,331, while a non-invasive cardiologist has a median annual salary of $470,900.
This could be due to the complexity and risk of the procedures they must perform on patients. In contrast, non-invasive cardiologists focus on diagnostic techniques to detect and treat heart disease.
How do pediatric cardiologist salaries compare to adult cardiologists?
Pediatric cardiologists specialize in treating heart-related conditions in children, while adult cardiologists treat adults. While both fields require extensive training and expertise, pediatric cardiologists may earn slightly less than adult cardiologists depending on the region and service demand.
Pediatric cardiologists earn an average salary of $333,561 per year, while adult cardiologists earn about $360,843 annually.
How does a cardiologist’s salary vary in New York and California?
The average annual salary for Cardiologist in California and New York are very similar with the average annual salary for cardiologists in California being $513,166 and the average annual salary for those in New York being $546,664
