A majority of oncologists (85 percent) have a net worth of less than $5 million, a new 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.
Eight things to know about oncologists' net worth:
1. Forty-three percent of oncologists have a net worth of less than $1 million.
2. Forty-two percent have a net worth of $1 million to $5 million.
3. Fifteen percent have a net worth above $5 million.
4. Twenty-six percent of oncologists have a net worth of less than $500,000.
5. In total, 41 percent percent of male oncologists have a net worth of less than $1 million, versus 47 percent of female oncologists.
6. Sixteen percent of male oncologists have a net worth of more than $5 million, compared to 14 percent of female oncologists.
7. Five percent of oncologists younger than 45 years have a net worth of more than $5 million, versus 23 percent of oncologists older than 64 years.
8. Most oncologists between the ages of 45 and 54 years (48 percent) and between 55 and 64 years (56 percent) have a net worth between $1 million and $5 million.
Two things to know about oncologist debt:
1. Mortgage payments are a big expense for oncologists. Overall, 59 percent of oncologists are still paying off the mortgage on their primary residence.
2. Twenty-five percent of oncologists are still paying off their school loans.