Cardiologists were the third highest paid physician specialists in 2010, according to a survey of more than 15,000 physicians conducted by Medscape, including a detailed report on the approximately 475 cardiologists in the survey. The cardiologists reported a median compensation of $325,000. Only orthopedic surgeons and radiologists, at $350,000, topped the cardiologists. One-fifth of cardiologists said they made more than $500,000.
Almost half of cardiologists reported making as much money in 2010 as in 2009, but about a third said that their income declined rather than increased in 2010. More interventional cardiologists than preventive cardiologists reported a decline in earnings. The report attributed this difference to cuts in Medicare reimbursement for cardiology procedures and tests and increases for patient visits.
Male cardiologists earned significantly more than female cardiologists ($340,000 vs $249,000). The report provides many additional details about variation in compensation according to geographical location and practice setting.
46% of cardiologists surveyed said they were fairly compensated, 66% said they would choose medicine again as a career, and 75% said they would choose the same specialty.
A prior survey from the Medical Group Management Association reported very high starting salaries and recruiting bonuses for new cardiologists, while a study in Health Affairs found an overwhelming lifetime advantage in wealth accumulation for cardiologists and other highly paid specialists over other physicians.
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