The Average Income Of A Cardiologist Will Make You Pause

Cardiology is a highly specialized field within the medical arena. Cardiologists are trained not only in basic patient care, but also to diagnose and treat a huge range of heart problems and conditions. Since cardiology specialists are the last line of defense against all kinds of uniquely specific ailments, these medical professionals are highly specialized providers — and their average salaries come as a direct reflection of their niche specialization.

It should come as no surprise that the typical cardiologist earns enough money to place them firmly in the economic bucket of "upper class" status. But the extent of their earnings may be shocking to those who have never thought about the profession's pay before. The reality is that cardiologists are among some of the highest paid employees across the medical field, and across the U.S. job market more broadly. However, it's worth taking a step back to explore why these medical professionals earn such a ludicrous amount of money, and why they therefore pay a genuinely painful $100,000-plus annual tax bill.

According to Forbes, the average cardiologist's salary in America stands at $490,000, as of September 2024. That's a blistering figure, to be sure, and third only to plastic surgeons and orthopedic specialists in the medical community. However, it's important to note that with a paycheck so gigantic, cardiologists also suffer from an outsized tax burden. Single filers making this much money in 2024 would have paid a federal income tax bill of almost $157,000, while joint filers would see a tax liability of roughly $122,500. To put that into perspective, single filer cardiologists are paying what constitutes an entire "upper class" salary in most states. Even the lower joint filer figure is still almost double the average annual salary for a typical American worker. Suffice it to say, cardiologists will overwhelmingly be looking for ways to reduce their tax burden.

The demanding work of a cardiologist and the extreme level of knowledge and expertise required to perform the role combine to provide these professionals with a dramatic paycheck figure. Cardiologists can also take on what is known as "locum tenens" positions. These are short term contracts at health care facilities around the country. Rather than commuting to the same hospital or office every day, a temporary contract allows a cardiologist to fill in where they're needed most, and get paid even better for their flexibility.

With dollar signs whirling around in your head, it might be tempting to immediately look into the pathway to cardiology as a profession. The job provides crucial support to those dealing with one of the most pervasive issues in the United States (considering that heart disease kills more people in America than anything else). The result is a line of work that's often deeply rewarding, with lifesaving stories to bring home to loved ones on a regular basis.

However, there are numerous hurdles standing between hopeful cardiologists and a career in the field. For one thing, students will need to tailor their undergraduate studies specifically to help them gain entry to medical school, as well as perform well on the MCAT exam. This is a higher education test like the GRE or LSAT (for those looking to continue on into a Master's program or go to law school, respectively). Doing well on the MCAT requires an average study commitment between 200 and 300 hours in the buildup to sitting down for the test. With a great score in tow, you can also expect to enter into another four year degree program with grueling educational demands that rise far above the study commitments of undergraduate life. After all that, you can expect to owe a lot in student debt. According to the Education Data Initiative, the average total medical school cost as of November 2024, was $238,420.

It's also noting that the task of training to become a cardiologist doesn't end once you earn your medical degree and graduate from a postgraduate program. Newly minted doctors must go on to residency programs in order to complete their licensing requirements — a further bout of training that can last as long as seven years. That means that people hoping to become cardiologists, and rake in the big bucks, will spend as many as 15 years training to enter the field. This also means earning a relatively low salary until your mid-30s. This can put many other life plans on hold as the anticipated influx of wealth remains on hold throughout your extended training period.

Doctors who will eventually go on to earn huge paychecks may be hesitant to get married or start a family as they work their way through the ranks of early career progression. Moreover, the time commitment and social and emotional sacrifices that doctoral students and residents have to make to see this transformation through to its end can be significant. Plus, first year residents earn roughly $60,000 to $65,000 per year, which can be difficult to live on in certain states. When combined with enormous student loan debt (with repayment starting years before a doctor receives their fully licensed salary), and the feeling of waiting in a state of limbo to unlock larger earnings, this can feel like yet another major roadblock for would-be cardiologists.