Oncologists' wealth, debt in 2021 — 5 report notes

Oncologists in the U.S. earned an average of about $403,000 in 2021, up from $377,000 in 2020, according to Medscape's Oncologist Wealth & Debt Report published Aug. 13. 

The findings are based on a survey completed by 17,903 practicing U.S. physicians across 29 specialites. Responses were collected between Oct. 6, 2020, and Feb. 11, 2021. Oncologists made up 3 percent of respondents. 

Four more report findings: 

1. Fifty-five percent of oncologists had a net worth between $1 million and $5 million in 2021, compared to 42 percent in 2020. 

2. The percentage of oncologists with a net worth under $500,000 fell from 26 percent in 2020 to 16 percent this year. It's the speciality with the lowest percentage of respondents reporting a net worth under a half million dollars. 

3. Seventeen percent of oncologists are still paying off student loans, down from 25 percent who said the same last year. 

4. Fifty-six percent of oncologists said they put the same amount or more into their 401(k) each month over the last year compared to prior years.

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