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Finding Cardiology Jobs - Careers In Cardiology: Psst, Want A Job?
Demand for cardiologists is strong and likely to remain so, no matter where you are in your career.
It's a good time to be a cardiologist. Demand hasn't let up even as the number of fellows coming out of training programs has tailed off in recent years. Unless you have your sights set on one of the more desirable and highly competitive locations - Boston, New York City, San Francisco - you can expect groups to be vying rather strenuously for your services. In a community of 100,000 that has, say, three cardiology groups, all are likely to be looking earnestly for new faces.
Significantly, the attractive candidate does not have to be a freshly minted cardiologist; it could be someone in the middle or later stages of a career. "It really doesn't matter what age you are," says Michael Penrose, a senior consultant with Cejka Search, a nationally recognized healthcare executive and physician recruitment firm based in St. Louis. "If you're in a position where you want to make a change, you can find a practice willing to hire you."
"That's true even if you plan to retire in the next five years," Penrose adds. "Most groups are ready and willing to hire the older physician." At Cejka Search, in fact, 53 percent of the candidates placed in the past year were not cardiologists just coming out of training programs but physicians already established in practice.
Faced with a buyer's market, cardiology groups have become more flexible in a number of ways. Those that might have limited themselves to a few top candidates are broadening their vision and taking a look at the larger pool of talent.
One reason for the surge in demand for cardiologists: As more hospitals initiate and then expand open-heart surgery programs, they're working hard to build their own cardiology referral networks to feed into the center. Such programs are no longer the exclusive province of urban teaching hospitals: open heart has moved into the community hospital as well. Also much in demand: Cardiologists who have done a year of training in pediatric cardiology and can ease smoothly into a hospital position.
Another unmistakable trend is a stepped-up search for female cardiologists. "More and more practices want to hire women, especially those who have taken some training in women's health and can help set up a women's heart health program," says Laura Hays, Cejka Search's vice president for client development. How much are the jobs paying? According to Cejka Search., the average salary for a cardiologist just out of training may range from $110,000 in San Francisco and New York to $225,000 in the Midwest, with productivity bonuses dangling as much as another $25,000.
The average first-year pay is rising to about $175,000. For those in established practice, the Medical Economics Continuing Survey reports that median net incomes were $274,170 (1999) for noninvasive cardiologists. Some practices are willing to pay a premium to get a female cardiologist on board. In one community, a hospital offered $200,000 to a young male cardiologist but lured a female cardiologist who had similar training with an offer of $220,000 plus $25,000 to set up and run a women's heart health program.
Overall, cardiology incomes have risen about 10 to 15 percent over the past five years, at a time when incomes of family physicians, internists, and OB/GYNs have actually taken a plunge. Beyond starting salary, incentives might include an offer to speed up the partnership track. Location is also important: Judging from the ads seeking cardiologists, practices are selling the "quality of life" in the community and region as much as the particulars of the job itself. Location is important to job seekers as well, especially those who are looking to carve out leisure time to enjoy the surroundings, be it the Colorado Rockies or Far Rockaway, New York. Invariably, the experts say, the biggest influence on location is the physician's spouse.
It's important to find the best fit, personally and professionally. Be aware of the trade-offs; working in a larger city can have much to offer but may also mean having to cover a number of hospitals. In other areas, practices may be looking for cardiologists to staff satellite offices in suburban or rural areas. Whether that's an attractive option for you depends on whether you function best on your own or in a collaborative group setting (for sources of guidance, see the box below). One of the most attractive settings for cardiologists is a strong single-specialty group. "These groups tend to be aggressive in business matters," says Michael Penrose, "and often hire a highly paid executive director to expand the services and develop the market area." Many of the groups are involved in research or other academic pursuits.