Radiologists are Earning More in 2019

16 September 2019 - Collaborative Imaging
If you’re in radiology or are considering it as a career, we’ve got some exciting news. Radiologists now earn a national annual average of $419,500. That’s a 4% increase from 2018. This year’s average wage increase for radiologists moves the profession up from the number 6th spot on the list of highest paying vocations to the number five spot next to other top paying careers like dentistry and dermatology.
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If you’re in radiology or are considering it as a career, we’ve got some exciting news. Radiologists are earning more in 2019. A national annual average of $419,500. That’s a 4% increase from 2018. This year’s average wage increase for radiologists moves the profession up.  It’s now the number five spot next to other top paying careers like dentistry and dermatology.

This result, according to the 2019 Medscape’s Physician Compensation Report, was derived from a study including responses from over 19,000 physician respondents in over 30 medical specialties. Of those, 4% came from the radiology field. The data was collected over a period of time spanning late 2018 to February of 2019.

The average salary for a physician in 2019 is estimated at $314,000 annually. Primary care providers earn $238,000 a year. And specialists make a whopping $345.000 a year. That leaves radiologists well within the top highest paid professions along with plastic surgeons, cardiologists, and otolaryngologists.

The year’s Medscape’s Physician Compensation Report notes, “Survey respondents were asked to report their compensation for patient care. For employed physicians, that includes salary, bonuses, and profit-sharing contributions. For partners, it includes earnings after taxes and deductible business expenses before income taxes. Only full-time salaries are included in our results.”

A Continuing Trend of Rising Pay for Radiology Professionals

According to Chron.com, entry-level radiologists earned an average of $206,900 a year in 2016. They cite the U.S. Bureau of Labor Statistics, indicating that a radiologist could have more than doubled her or his salary in just three years- moving up from an entry-level position to become an established radiologist.

The 2016 U.S. Bureau of Labor Statistics also said that a top-earning radiologist could earn as much as $470,000 per year. This indicates that the upper echelon of radiology earners might even exceed $500,000 in some parts of the country. Although, the research on that has not yet been finalized.

Radiology Job Growth Projected to Continue Through 2016

Looking at the profession in recent years, and existing projections as far forward as 2026, the demand for radiology professionals is expected to increase by 2,000 to 2,500 by 2021. According to The Journal of the American College of Radiology, in 2016, new radiology job opportunities more than doubled the number of new radiology graduates.

Considering the aging American population, the anticipated demand for radiology professionals is far outpacing the supply. That means the market is wide open for today’s beginner radiologist.

 

Sources:

https://www.radiologybusiness.com/topics/healthcare-economics/radiologists-radiology-average-salary-2019

https://work.chron.com/much-radiologists-make-year-entry-level-21976.html