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As always, I also want to point out the awful wage stagnation in RadOnc. I have it buried in my bookmarks folder and need to dig it back out, but there was the data published in 2020 or so showing we were dead last (#17 of 17).
I remember 10 or so years ago the starting salary for an East Coast academic position was $260k.
Today, I personally know multiple people who had starting salaries in East Coast academic spots for $280k-$290k...or less.
I think the ARRO survey is spot on with "average starting salary". Most of the hospital employed positions seem to be offering $500-600k. Most academic positions seem to be offering $250-$290k. The average salary reported this year was approximately $360k.
I looked back at the old ARRO salary data over the years and there hasn't been a lot of movement. As I recall (haven't looked in awhile), it was around $300k for quite some time, then it's been at this $350k-ish mark for a few years now. Yadda yadda inflation.
This Reddit post about $514k and how they "can't believe it" perfectly captures the average attitude. In one sense, it's "a lot" of money compared to the American average, the negative salary of medical school, the $50-60k in residency, and the salary increase happens almost overnight. I get it.
In another sense, it's an abysmal salary compared to just 20-30 years ago, not just when you adjust for inflation and spending power but also in absolute terms. When you consider your upfront investment of time/money/effort (med school debt + training time debt) and the revenue you generate not only through your own practice but through your total activities within a hospital (labs, imaging, referrals, etc) it's an INSANELY low percentage.
The RadOnc pitch on Shark Tank:
"I will pay you a $500k salary. The investment I'm looking for is 13 years of post-high school training, $300k in debt, limited geographic mobility, total assumption of liability, generating $3-$5 million dollars per year in collections (not charges) for the hospital with a total ROI for labs/imaging etc generating another $1-2 million per year."
"Where do I sign?"
I remember 10 or so years ago the starting salary for an East Coast academic position was $260k.
Today, I personally know multiple people who had starting salaries in East Coast academic spots for $280k-$290k...or less.
I think the ARRO survey is spot on with "average starting salary". Most of the hospital employed positions seem to be offering $500-600k. Most academic positions seem to be offering $250-$290k. The average salary reported this year was approximately $360k.
I looked back at the old ARRO salary data over the years and there hasn't been a lot of movement. As I recall (haven't looked in awhile), it was around $300k for quite some time, then it's been at this $350k-ish mark for a few years now. Yadda yadda inflation.
This Reddit post about $514k and how they "can't believe it" perfectly captures the average attitude. In one sense, it's "a lot" of money compared to the American average, the negative salary of medical school, the $50-60k in residency, and the salary increase happens almost overnight. I get it.
In another sense, it's an abysmal salary compared to just 20-30 years ago, not just when you adjust for inflation and spending power but also in absolute terms. When you consider your upfront investment of time/money/effort (med school debt + training time debt) and the revenue you generate not only through your own practice but through your total activities within a hospital (labs, imaging, referrals, etc) it's an INSANELY low percentage.
The RadOnc pitch on Shark Tank:
"I will pay you a $500k salary. The investment I'm looking for is 13 years of post-high school training, $300k in debt, limited geographic mobility, total assumption of liability, generating $3-$5 million dollars per year in collections (not charges) for the hospital with a total ROI for labs/imaging etc generating another $1-2 million per year."
"Where do I sign?"