7 things to know about oncologists' personal finances

Oncologists in the U.S. earn $377,000 on average per year, and a quarter of them are paying off student loans, a Medscape report shows.

Medscape collected information from 17,461 physicians in 30 specialties, including oncologists, for the survey between Oct. 4, 2019 and Feb. 10.

Here are seven notes on the personal finances of oncologists:

1. Twenty-five percent of oncologists are still paying off their student loans.

2. Fifty-nine percent of oncologists are paying off the mortgage on a primary residence, and about 20 percent have mortgages of more than $500,000.

3. About 30 percent of oncologists have three to four credit cards, while 22 percent have more than seven credit cards.

4. Forty-eight percent of oncologists put more than $2,000 into a tax-deferred retirement or college savings account monthly.

5. Forty percent put more than $2,000 into a taxable retirement or college savings account each month.

6. Though 77 percent said they did not experience a financial loss last year, 14 percent said they did face a financial loss due to bad investments in the stock market.

7. Thirty-nine percent of oncologists said they work with a financial planner.


Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars