The average median hematologist salary in the United States is about $266,000 per year or about $128 per hour. The top 10th percentile of hematologists earn a salary of $412,000 or more per year which is about $198 or more per hour. The lowest 10th percentile in this profession earns wages of about $165,000 or less per year which is about $79 or less per hour. The middle 50% of hematologists earn between $212,000 and $343,000 per year or between $102 and $165 per hour.
Like other physicians, hematologists are also entitled to many benefits from their employers. Some of the benefits they receive in addition to their base salary are social security, pension benefits, paid time off, healthcare benefits, bonuses and 401K. When these benefits are added to their basic salary, the median compensation package for a hematologist will be about $360,000 per year.
As with many jobs, the salary of a hematologist is very dependent on many factors. You will earn more as you progress in this profession. Those with several years of experience often find themselves at the higher end of the pay scale while those just entering the profession earns less. Also those employed in urban areas with high population often earn higher salaries than those employed in rural and suburban areas with lower populations. Some of the highest earning hematologists are those who are owners of their own private practices or partners in a private practice. Although they earn more by owning their own private practice, they will also be responsible for paying wages of their staff.
Job description of a hematologist
What do they do? A hematologist is a specialized doctor. They specialize in the prevention, diagnosis and treatment of diseases and disorders of the blood, vascular, immune system and bone marrow. They examine blood and bone marrow slides and analyze hematology test results. They treat and manage patients with blood and bone marrow disorders such as blood cancers and leukemia.
Hematologists treat other blood disorders such as anemia, blood clots, hemophilia, lymphoma, myeloma and bleeding disorders. They are physicians that are experts in the diseases of the blood. They often consult with the patient, examining their medical history and taking blood samples for testing. The hematologist examines blood samples under a microscope.
Hematologists carry out preventive screening where they screen patients for blood and bone marrow disorders and offer treatment before they lead to serious problems. Such measures could lead to the prevention of heart attacks or strokes in the future. They often have regular consultations with their patients to make sure treatments are working as expected and no new blood related disorders occur.
Hematologists can prescribe medication, blood transfusions and bone marrow transfusions as part of their treatments. Patients that see hematologists are often referred by primary care physicians for the diagnosis and treatment of more complex disorders that may be related to the blood.
To learn more about what a hematologist does, visit www.hematology.org.
How to become a hematologist
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Hematologists are physicians and as such must obtain a medical degree. Hematologists need four years of undergraduate studies, four years of medical school, one year internship, three years residency training in internal medicine and oncology and a further two to four years fellowship training in hematology/oncology. Wow that is a lot of years of studying and learning to become a hematologist. It is a very difficult field to get into and requires a special kind of person who is patient, very driven and have the will to learn for a long time. Although the road to getting there is hard, expensive and very long, the rewards and joys of the profession will be worth it.
A potential hematologists starts off by going to college after high school. If you plan on becoming a physician, it is best to study courses in college that are science related. Subjects and majors in chemistry, biology, anatomy, physiology, psychology, physics, biochemistry and microbiology are very popular. Although entrance into medical school does not require a specific undergraduate major, pre-med and science related majors might just give you a little bit of an edge in what is a very competitive admission process.
Whiles in college, you should sit and pass the Medical College Admission Test (MCAT) in your junior year. After graduating college, you will have to go to medical school. To get into medical school, you need excellent grades from your bachelor’s degree program, excellent scores on the MCAT, letters of recommendation, and some extracurricular activities from college and attend one or more admission interviews. Medical school will last for four years.
After medical school, you will generally do a one-year internship followed by 3 years of residency training. The most common residency programs for potential hematologists is residency training in internal medicine and pediatrics. Each program may have its own unique structure but it generally includes elements of patient care in a clinical environment.
After the residency program, students go into a three-year fellowship program in hematology related fields such as; adult hematology, hematology/oncology, coagulation and pediatric hematology/oncology. Patient care aspects of both the fellowship and residency programs are always supervised by a qualified physician who has already finished their fellowship in a related subspecialty.
Those wanting to go into private practice may have to do an additional 1 – 2 years of fellowship. Hematologists often find themselves working in academic and research capacities, private practices, specialty clinics, corporations or with government agencies.
Verdict about hematologist salary
A hematologist salary is a very attractive one and one of the highest in the healthcare industry. It is very common for those with several years of experience to be earning a salary in excess of $650,000 per year. It is also common to see entry level salaries of about $200,000. Because it requires a lot of hard work and huge expenses to get into this profession, I can say the huge wages are just reward.