Radiologist have jumped up a spot in earnings among the top 10 specialists in the U.S., according to Medscape's 2023 Radiologist Compensation Report.
The average income for radiologists was $483,000, a 10% increase over last year's average of $437,000, according to the report. This places radiology up one spot to seventh on the list of the top 10 earning specialties, with plastic surgeons holding the top spot with an average income of $619,000.
Medscape analyzed responses from more than 10,000 physicians in 29 specialties who participated in a 10-minute online survey between October 7, 2022, and January 17, 2023. For employed physicians, compensation included salary, bonus, and profit-sharing contributions, according to the report.
There has been some improvement in the pay gap between men and women, with the results indicating the lowest gap in five years, the report suggested. Nonetheless, among doctors overall, men are earning 19% more than women, with an even wider gap of 27% among specialists, the report noted.
Many radiologists said they are now working harder and longer in order to earn incentive bonuses, the report states. Those average incentive bonuses also increased, however, calculated at $80,000 in the current survey, up from $66,000 last year.
The survey also asked radiologists how they feel about their compensation. In this regard, radiologists were in the top third, with 58% of respondents indicating they felt fairly paid for their talents and time, according to the report. Psychiatrists ranked highest here, with 68% reporting they feel fairly paid.
Finally, while 92% of radiologists said last year that they would choose the profession again if given the chance, that percentage dipped slightly to 90% in the current survey.
Since 2015, when Medscape issued its first report, the average compensation reported by radiologists has increased by about 38%, the report concluded.