[Updated]– They may not be at the level of a Samin Sharma or Jeff Moses, but newly minted cardiologists probably won’t have to worry about the recession, according to a survey of new physician salaries by the Medical Group Management Association.
The median starting salary for invasive cardiologists in 2008 was $350,000, according to the survey. This represented a 1.41% decline from the 2007 salary of $355,000.
Noninvasive cardiologists started at $400,000 in 2008, compared to $350,000 in the prior year. This 14.29% increase put noninvasive cardiologists in the list of top 5 specialties with the biggest increase in salary between 2007 and 2008.
Top starting salary was $605,000 for neurosurgeons, followed by nuclear medicine radiologists, thoracic surgeons, cardiologists, and orthopedic surgeons.
At $132,000, pediatricians were at the bottom of the list. They were followed by FPs, geriatricians, urgent care, IMs, and IDs.
Update: The Wall Street Journal Health Blog just posted an item on bonuses offered to physicians during recruitment. You can download the Merritt Hawkins & Associated 2009 Review of Physician and CRNA Recruiting Incentives here. But here’s the bottom line:
Cardiologists were among the top 5 specialties in growth in number of search assignments from 2007/08 to 2008/09. Here are the top 5 and their growth rate:
- General surgery: 88%
- Pulmonology: 73%
- Cardiology: 49%
- Dermatology: 29%
- Internal Medicine: 25%
And here’s the actual data for cardiologists. The three figures for each year are the low, average, and high figures. Get ready to call your moving company:
Year Low Average High
2008/09 $180,000 $419,000 $880,000
2007/08 $250,000 $392,000 $1,000,000
2006/07 $250,000 $391,000 $500,000
2005/06 $175,000 $342,000 $500,000