What Is the Annual Salary of a Hematologist?
A hematologist is a medical doctor who has undergone extensive training in the field of hematology. They diagnose, treat and manage the symptoms and complications that occur with blood-related diseases. The majority of hematologists work in a laboratory setting. A hematologist’s salary is affected by their level of experience, specialty and geographic location.
Salary Expectations
- The average yearly income for a board certified hematologist is $257,594. The website salary.com reports that the annual salary spectrum ranges from $171,000 to $407,000.
Work Benefits
- Hematologists are often awarded annual incentive bonuses from the hospitals or medical groups they work for. Bonuses can range from $1,200 to $12,000. Additional compensation is received in the form of 401K contributions from their employer and paid time off. Malpractice liability insurance is a significant expense for any medical doctor. Approximately 42 percent of hematologists report that their employer covers the cost for them.
Experience
- Work experience and certification in sub-specialties has a significant influence on a hematologist’s salary. Hematologists just starting out, with one to two years of experience can expect to make approximately $181,000 per year. The median salary rises to an average of $245,000 annually, after gaining three or more years of experience. Hematologist with exceptional experience, knowledge and skilled training can earn up to $685,000 each year.
Geographic Location
- A hematologist practicing in large urban areas generally earns more than those located in small cities or rural areas. Hematologists can see a salary difference up to $100,000 depending on the region they practice. Hawaii reports the lowest median income of $163,000, while Mississippi and New York average over $200,000 per year. In general, areas in the northeast and the west report the highest annual salaries.