Cardiologist Salary: Overview of Earnings in 2024

Cardiologists continue to rank among the highest-earning medical professionals in the United States. Their crucial role in managing heart health and cardiovascular diseases makes cardiology both a rewarding and financially secure career. In this article, we’ll delve into the latest data on cardiologist salary trends, drawing from various sources like Medscape, Doximity, MedAxiom, and more to provide a detailed understanding of compensation in this specialty.

Overview of Cardiologist Salary in 2024
Cardiologist Salary Trends by Source
Factors Influencing Cardiologist Salaries
Cardiologist Salary by Region
The Gender Pay Gap in Cardiology
Cardiologist Career Satisfaction and Compensation
Future Outlook for Cardiologist Salaries
Conclusion
Sources
FAQs About Cardiologist Salaries

1. Overview of Cardiologist Salary in 2024

In 2024, the average cardiologist salary is $525,000 per year, according to the Medscape 2024 Physician Compensation Report. Cardiologists rank third among all medical specialties in terms of compensation, trailing only orthopedic surgeons ($558,000) and plastic surgeons ($536,000). This high earning potential reflects the specialized skills and growing demand for cardiologists as the U.S. population ages and cardiovascular diseases become more prevalent. Doximity’s 2024 Physician Compensation Report also highlights similar findings, reporting an average annual salary of $520,000 for cardiologists, which aligns with Medscape’s data.

2. Cardiologist Salary Trends by Source

Cardiologist salaries vary slightly depending on the data source, largely due to differences in survey populations and methodologies. Here’s a breakdown of how general cardiologist compensation compares across major reports:

Medscape (2024): Reports an annual average of $525,000, positioning cardiology as the third-highest paying specialty.
Doximity (2024): Lists an average salary of $520,000, showing steady growth in cardiologist compensation over recent years.
MedAxiom: Reports cardiologists earning up to $552,000 on average in certain settings, particularly in large hospital networks or specialty practices.
Cardiovascular Business (2024): Confirms an average compensation of $525,000, with incentive bonuses adding an additional $75,000 annually for many cardiologists.
The White Coat Investor (2023): Provides a detailed look at non-invasive cardiologist salaries from various sources:
- Medscape: $490,000
- Doximity: $518,750
- MGMA: $518,750
- AAMC (academic): $444,000
- Merritt Hawkins: $446,000
- AMGA: $518,750

This comparison highlights that non-invasive cardiologists generally earn between $490,000 and $518,750, with academic positions typically offering lower salaries compared to private practice or hospital-based settings.

3. Factors Influencing Cardiologist Salaries

Several factors influence a cardiologist’s earning potential note these figures are likely base pay and not total compensation:

Experience and Specialization: Cardiologists with more years in practice or those specializing in areas such as interventional cardiology or electrophysiology typically earn more.
Practice Setting: Cardiologists who are self-employed tend to earn more than those employed by hospitals or healthcare systems. According to Medscape, self-employed cardiologists earn around $477,000, while employed cardiologists make $450,000 annually. MedAxiom also confirms that cardiologists in single-specialty groups or private practices tend to have higher incomes.
Location: Compensation varies by region. For example, cardiologists in San Jose, CA earn the highest, with an average salary of $474,977, according to Doximity. Other high-paying cities include Los Angeles ($448,121) and St. Louis, MO ($442,576). In contrast, cities like San Antonio, TX, and Denver, CO report lower salaries, averaging around $371,000.

4. Cardiologist Salary by Region

Geographical location plays a significant role in cardiologist salaries due to cost-of-living differences and market demand. However, cost of living adjustments change the picture. While San Francisco, CA ranks high in nominal salaries, the adjusted compensation due to cost of living drops its rank significantly. On the other hand, cities like St. Louis, MO, and Charlotte, NC, emerge as better options for those looking at real income.

5. The Gender Pay Gap in Cardiology

The gender pay gap remains a persistent issue in cardiology. In 2024, Doximity reports that women cardiologists earn 23% less than their male counterparts. The average salary for male cardiologists is approximately $435,000, while women earn about $333,000.

This wage gap has narrowed slightly over recent years. For instance, the pay disparity was 26% in 2022, but the gap is still substantial, according to both Medscape and Doximity. Efforts to close this gap continue, but more work is needed to achieve gender parity in the field.

6. Cardiologist Career Satisfaction and Compensation

Despite high salaries, not all cardiologists are satisfied with their compensation. In Medscape’s 2024 survey, only 48% of cardiologists felt fairly compensated, compared to 61% of all physicians who believe they are underpaid.

Interestingly, 88% of cardiologists said they would choose this specialty again if given the choice, reflecting a strong sense of purpose and job satisfaction. Additionally, patient relationships and the ability to save lives are often cited as the most rewarding aspects of the profession, making cardiology one of the more fulfilling medical fields.

7. Future Outlook for Cardiologist Salaries

The outlook for cardiologist salaries remains positive. With the aging population and the increasing prevalence of heart disease, demand for cardiologists is expected to remain high. MedAxiom highlights that the growing need for cardiovascular specialists will likely lead to further salary increases, particularly for those in subspecialties like interventional cardiology.

However, potential challenges include healthcare policy changes, increasing administrative burdens, and physician burnout, which could impact overall job satisfaction and compensation growth. Despite these challenges, the cardiology field is expected to remain one of the most lucrative medical specialties in the coming years.

8. Conclusion

Cardiologists continue to rank among the highest-paid professionals in the medical field, with an average salary of $525,000 in 2024. Factors such as experience, specialization, and geographic location significantly influence these earnings. Although the gender pay gap remains a challenge, overall career satisfaction is high, and the future outlook for compensation growth is promising.

For aspiring cardiologists or those in the early stages of their careers, understanding the factors that influence salaries can help them make informed decisions about their career paths and potential earnings.

9. Sources

Medscape 2024 Physician Compensation Report
Doximity 2024 Physician Compensation Report
Cardiovascular Business (April 2024)
MedAxiom Cardiologist Compensation Data 2023
Medscape Cardiologist Salary Trends 2022
The White Coat Investor 2023

10. FAQs About Cardiologist Salaries

Q1: What is the average salary for a cardiologist in 2024?
In 2024, the average cardiologist salary is $525,000 per year, according to Medscape.

Q2: What factors influence a cardiologist’s salary?
Key factors include years of experience, location, practice setting, and specialization. Self-employed cardiologists and those in high-demand subspecialties typically earn more.

Q3: Which regions offer the highest cardiologist salaries?
Cities like San Jose, CA ($474,977), Los Angeles, CA ($448,121), and St. Louis, MO ($442,576) rank among the top-paying locations for cardiologists.

Q4: Is there a gender pay gap in cardiology?
Yes, in 2024, women cardiologists earn 23% less than their male counterparts, with men earning $435,000 on average compared to women’s $333,000.

Q5: What is the future outlook for cardiologist salaries?
The demand for cardiologists is expected to remain high, leading to continued salary growth, especially for those in specialized fields like interventional cardiology.