Aside from the failure in logic that undergirds wagy's theory that rad oncs should be paid 500,000 vs. IM's 180,000 because of a 5 vs. 3 year residency and better applicant stats, there seems to be a willful disregard of the fact that I never exclusively compared IM to rad onc. I also discussed subspecialists in medicine and pediatrics who continue to make substantially lower pay than does rad onc or dematology - for no obvious reason:
Now, let me focus on adult medicine vs. pediatrics subspecialists. In most cases, peds trains for the same number of years or 1+ because their fellowships tend to be a bit longer.
The mean income out of fellowship for a pediatric endocrinology (6 yrs training) is $186,000; that of pediatric hematology/oncology (6 yrs training) is $206,000.
For comparison, for adult endocrinology (5 yrs training) and hematology/oncology (6 yrs), the mean starting pay is $212,000 and $315,000, respectively.
Can you explain to me why the internists who treat cancer and adult endocrine problems make 10s if not 100s of thousands of dollars more than the pediatrician counterparts? Do children who have cancer count less than adults? Is managing type 1 diabetes or GH deficiency or precocious/delayed puberty in a child somehow less important than doing the analogous job in adults?
I think this has illustrated well how we have bizarre discrepancies in very similar fields (i.e. from the perspective of intellectual bent, research potential, yrs training, seriousness of the conditions, etc.) just because the patient populations are different.
So now how can you possibly explain to me why rad onc makes 2-3x what the medical oncologists (adult or pediatric) make? Are you seriously going to explain to me that board scores and AOA means that you are entitled to earn twice as much as the cancer doctor who actually performs the diagnostic workup (with pathology and radiology), interfaces with the other specialists, manages the medications/chemo/BMTs, deals with the complications (infections, renal failure, etc.), and is usually the cancer doctor who spends the most time with and bears the most emotional burden of dying cancer patients?
That's why this whole reimbursement scheme is bunk from beginning to end. I have no problem with a general surgeon making more than an internist. I have a big problem with the orthopedic surgeon making more than the general surgeon, or the rad onc making a ****-ton more than the medical/pediatric oncologists.
I think you are way off in your figures. So derm makes a ton for a number of reasons, which include the fact that they see a ton of patients since some consults take minutes literally, there's not a great number of them so they have increased volume, they have procedures which rake in $$, they do cosmetics which is cold, hard cash (one of the attendings who I did my rotation with would charge 700 bucks for a fraxel for about an hour and people would pay it), and patients are willing to pay out of pocket, both for cosmetic and non cosmetic derm stuff. That's why derm makes $$$$.
Heme/oncs make a ton of cash these days, roughly 15% or so less than rad oncs but not that far off realistically.
The reason why many peds make less $$ than adult counterparts is because many kiddos are on Medicaid which reimburses very poorly, while on the other hand, the payor mix is different for adults. Also, realize that with many specialists, the buck stops with them. So while I respect internists and I think their work is important, realize that they do have a short residency, less liability than other docs, and they are rarely the ones who make the final decision - they can consult everyone about anything and the specialist makes the final decision ultimately, which carries far less liability and responsibility vs. calling the brain bleed at 2 am that the rads person needs to call.
Also realize that many internists make far more than 180's. Your figures are old. People in my intern program were getting offers of 200-250, someone even 300k for 7 on/7off. that's not too bad for working half the year, so let's be realistic. IM is one of the most versatile medical careers there is, and you can find a niche and make decent money.
You really think that people will train for 6 years to make the same? that would be nuts. I think the quotes are 75k per year of training, which is roughly accurate if you think about what specialists vs non specialists make.
Also realize that there are pay differentials in every field. For example, corporate lawyers make far more than say family lawyers, patent lawyers make more than immigration lawyers, etc. General dentists make less than cosmetic dentists or orthodontists. It would make no sense that all specialists and non-specialists made the same would it?
Ultimately as others have pointed out it makes more sense to be united in our efforts than divided. We all know what different specialties pay, so if money is important, it makes sense to go into something that pays more no?