The history of radiology and medicine has been entwined for well over a century since the use of X-rays and other techniques became sophisticated enough to offer diagnoses to patients. However, today's radiologists and radiology technicians find their specialization in a state of flux, as changes in technology and increased competition in the field result in changes in the professional landscape.
The data contained in this report demonstrates this. In compiling the report, we examined current average salaries, average salaries for advertised positions, and a range of other datasets, and used this examination to derive our conclusions regarding the health of the radiology field as we move into the second quarter of 2019.
In this article, we will summarize this report, helping readers to gain an effective understanding of the data. To read the report in full, click here.
In approaching the report and the preliminary research, we decided to utilize data sources that could cover the main areas of focus effectively, and also in an up to the minute manner. This approach meant seeking data from professional associations regarding current salaries and also examining data sets from recruitment sites regarding the average salaries for currently advertised positions.
This strategy helped us to gain a cross-section of the field as it exists in April 2019, understanding not only the experience of those already operating in the field, but also the prospects of those looking to move into a role in this area of specialization.
As mentioned above, the report focuses on two key areas of data -- existing salary averages, and those which are currently advertised.
In terms of advertised salaries, we discovered that new, entry-level radiologists stand to earn more than three times the national average for a professional salary in the United States, at $255,000.
The comparison with the national average is certainly favorable. However, research relating to current earnings demonstrated that radiologists currently working in entry-level positions are being paid an average of $291,500 per year. Using this metric, we can see that expected salaries are experiencing a short term decrease.
Our research report authors examined this further, by breaking down the data for more detailed analysis, and by bringing together sets of qualitative and quantitative data to properly identify market trends.
Our researchers sought to gain more insight from the data at hand by breaking it down, first into regional classifications. This breakdown yielded important conclusions, demonstrating how the northeastern sector of the United States provided, on average, better salaries than elsewhere in the country. The southeastern United States, by contrast, provided significantly lower expected salary data, with North Carolina and Florida finishing bottom of the table and second bottom, respectively.
Researchers also sought to achieve a more detailed examination by isolating the different components of the radiology field. Our research team was able to gain data on current average salaries across several different disciplines, helping us to reach quantitatively backed conclusions regarding true average, mode, and median salaries across the board.
This data showed us that radiologists in a hospital setting achieve the highest salaries on average, followed by medical group radiologists, and radiologists in individual or private practices. These disciplines yielded average salaries of $475,000, $450,000, and $400,000 per annum, respectively.
Academic -- i.e., non-practicing in a medical setting -- radiologists, achieved significantly less than $400,000 each year on average, while radiology technologists were paid only a fraction of their radiologist counterparts. Data for radiology technologists showed that these professionals received only $51,000 per annum, on average.
This significant disparity between earnings, as well as the lack of a complete data set taken from any single period with regard to earnings within the different disciplines, makes the data difficult to work with. This is an important point and one that is addressed within the full research report, as well as within our conclusions.
Market Trends for Analysis
To conclude our report, we took a look at some of the trends and tendencies currently influencing the field of radiology. These trends include the following;
Year on year pay decreases
Direct quantitative data trends demonstrate decreases in pay, year on year. This is illustrated in the findings listed above, and in the discrepancies between current salaries and advertised payscales, and is back up by other reports in the field.
Indications of longer-term stability
By bringing together qualitative and quantitative data sets, we were able to find indications of longer-term stability in terms of wages, as well as hints of growth. However, these were not as concrete as the short term decrease data conclusions.
Increased numbers of graduating professionals
The field is becoming increasingly competitive across the board. This has multiple ramifications for the profession of radiology.
The changing role of technology
Increasing sophistication in technology is leading to increased demand for radiologists, not the demand decreases that some predicted. It is also shaping the future of the profession as we know it.
With this increased demand comes a need for radiologists to leverage their knowledge to climb up the ranks in their profession. Through showcasing their expertise in articles and blog posts, they can become thought leaders in their field.
To gain the full insight of the report and its conclusions, click here to view the research and all its data in full.
Radiologists and Radiology Technologists Salaries: A Complete Report for 2019. GE Healthcare. 2019. http://landing1.gehealthcare.com/USC-GA-19-05-MCT-CTO-Rad_Salary_Report_LP.html. March 8, 2019.