As a physician, oncologists specialize in the treatment of cancer. And, oncologist salary varies based on a variety of factors, but we know you’re here for the numbers. So, let’s get into the nitty-gritty of what oncologists make.
According to a salary report by Medscape, the average oncologist salary in 2023 is expected to be around $475,000 per year. This number indicates that oncologists tend to make more than the average physician. However, it’s important to note that the average salary for physician specialties ranges from $348,000 to $464,000 per year, so oncologists are on the higher end of the spectrum.
How is the Average Oncologist Salary Determined?
The average oncologist salary is determined by various factors such as location, specialty, experience, and compensation package, which include cash compensation, bonus, and profit-sharing. These factors are all considered when determining an oncologist’s salary.
What is the Difference Between an Average Oncologist Salary and an Average Physician Salary?
The difference between an average oncologist salary and an average physician salary is that oncologists tend to make more money due to the complexity of their job. The diagnoses of cancer can be very complex and require specialized knowledge and skills. Additionally, oncologists often work with patients in both an inpatient and outpatient setting which can affect their earnings.
What is the Average Salary for Medical Oncology?
The average salary for medical oncology depends on the years of experience and the type of practice where the oncologist works. According to a salary report by Payscale, the average salary for a medical oncologist is around $262,000 per year.
How Does an Oncologist’s Salary Compare by State?
Oncologist salaries can vary depending on the state where they practice. For instance, in Florida, oncologists make an average of $374,715 per year while in California, they make an average of $472,909 per year. Therefore, it’s important to research the average salary range for the state where you plan to practice oncology.
Which States Pay the Most for Oncologists?
The states that pay the most for oncologists are California, New York, Texas, Pennsylvania, and Florida.
How Does the Average Salary for an Oncologist Vary by Specialty?
Specialty also plays a role in the average salary for oncologists. Hematology oncologists tend to make more than medical oncologists. According to the Bureau of Labor Statistics, the median annual salary for hematologists is around $413,000 while for medical oncologists, it’s around $303,000 per year.
What is the Average Total Cash Compensation for an Oncologist?
The average total cash compensation for an oncologist can range from $250,000 to $700,000 per year depending on the specialty, location, and years of experience. This compensation package includes base salary, bonus, and profit-sharing.
What Factors Affect an Oncologist’s Salary?
An oncologist’s salary can be affected by various factors such as years of experience, compensation package, specialty, location, and certification. It’s important to consider these factors when negotiating your salary.
How Does an Oncologist’s Years of Experience Affect Salary?
An oncologist’s salary can increase as the years of experience increase. According to Medscape, oncologists with less than one year of experience can make around $296,000 per year, while those with 11-20 years of experience can make around $525,000 per year.
What is the Range for an Oncologist’s Salary?
The range for an oncologist’s salary can vary from $200,000 to $700,000 per year depending on the factors mentioned above.
What is the Average Hourly Wage for an Oncologist?
The average hourly wage for an oncologist can be around $130 per hour, depending on the compensation package, area of specialty, and geographical region.
Where are the Top Paying Cities for Oncologists?
The top paying cities for oncologists in the U.S. are New York City, Los Angeles, Houston, Dallas, and Chicago. These cities have a higher cost of living and therefore tend to offer higher salaries to attract skilled physicians.
FAQs about Oncologist Salary
Q: What is an oncologist?
A: An oncologist is a physician who specializes in the diagnosis and treatment of cancer.
Q: What does an oncologist’s salary look like?
A: According to the Bureau of Labor Statistics, an oncologist’s average annual salary is around $220,000.
Q: What is the average total compensation for an oncologist?
A: An oncologist’s average total compensation, including bonuses and profit sharing, is around $295,000 per year.
Q: How much can an oncologist make hourly?
A: The average hourly wage for an oncologist is approximately $106 per hour.
Q: Does an oncologist’s salary vary by state?
A: Yes, an oncologist’s salary may vary depending on the state they practice in. For example, according to Medscape’s salary report, oncologists in California have an average annual salary of around $287,000 while oncologists in Texas have an average annual salary of around $253,000.
Q: Does an oncologist’s salary depend on their level of experience?
A: Yes, an oncologist’s salary may vary based on their level of experience. Oncologists with more years of experience will generally earn a higher salary than those just starting out in the field.
Q: What is the salary range for an oncologist?
A: The salary range for an oncologist varies depending on their specialty and experience level. However, on average, an oncologist’s salary ranges from around $181,000 to $411,000 per year.
Q: What is the most paying city for an oncologist?
A: According to salary.com, the most paying city for an oncologist is San Francisco, California, where oncologists have an average annual salary of around $391,000.
Q: Where can I find oncologist salary information?
A: You can find oncologist salary information from various sources, such as Medscape, Payscale, and the Bureau of Labor Statistics.
Q: Do oncologists earn more in private practice or outpatient settings?
A: Oncologists in private practice generally earn more than those in outpatient settings, according to a compensation report by Medscape.