Salary of a Radiation Oncologist

Radiation oncologists enjoy substantial earnings.

Radiation oncologists are physicians specializing in the treatment of cancer using radiation therapy. Specifically they use x-rays, gamma rays and electrons to destroy cancer cells. Radiation therapy is used widely on many cancers including prostate cancer, lung cancer, breast cancer and brain tumors. Primary factors affecting the earnings potential of radiation oncologists are experience, employer type, location, and industry.

Salary

According to Salary.com data from November 2010, the base salary of an oncologist ranges from $172,398 to $430,043 per year, with the majority earning between $217,015 and $351,876. Bonuses, commission and profit sharing can account for up to $90,000, according to PayScale data from the same period.

Experience

Experience can affect a radiation oncologist’s earnings. PayScale November 2010 data indicates that earnings for oncologists max out at around $243,000 yearly for those with less than 10 years’ experience. Maximum earnings can jump 10 percent to $267,000 with 10 to 19 years’ experience. Oncologists with 20 or more years’ experience can see their maximum earnings jump yet another 10 percent to almost $300,000 per year.

Employer Type

The type of employer for which a radiation oncologist works can have a significant impact on earnings potential. PayScale November 2010 data reveals that non-profit organizations have the greatest potential income, though the range of $146,000 to $303,804 is wide. The largest range can be seen in state and local governments, from $60,000 to $260,000 per year. Oncologists in private practice stand to earn 20 to 70 percent more than their hospital counterparts. Radiation oncologist earnings in private practice range from $172,255 to $255,470, versus a range of $101,299 to $214,183 in hospitals.

Location

Location has a certain amount of influence on oncologists' pay, particularly those on the lower end of the pay scale. PayScale November 2010 data shows that among the highest paying states, New York, California, Pennsylvania and Michigan have roughly the same range of $100,000 to $250,000 per year. Earnings in New Jersey are more favorable, with a range starting at a low of $152,605 to a maximum of $254,341.

Industry

Analysis of PayScale November 2010 data reveals that most industries employing radiation oncologists have a top end range of $250,000 per year. Health care services offer oncologists the greatest potential with a range of $150,000 to $289,686. The top end of that range is the highest among all industries. However, oncologists working in a physician’s office are more likely to earn better income than their health care services counter-part. The range for a physician’s office is $198,639 to $255,643 per year. The difference between the high and low end is the smallest of all industries. The low end of this industry is significantly higher than the low end of all other industries employing oncologists.

References

• Schools in the USA.com; Radiation Oncologist