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Radiology Job Market - Survey of Radiology Fellows and Residents on the Hunt
(NEW YORK) -- Times are changing in healthcare. Once upon a time, a severe shortage in radiology resulted in highly lucrative starting salaries and numerous job offers per resident. Residents and fellows finishing their radiology training had no problem finding the 'ideal' academic, hybrid, or private practice job with short partnership tracks, significant vacation time, and a favorable call schedule.
With the impending uncertainty related to upcoming healthcare reform in imaging reimbursements and fallout from the DRA (Deficit Reduction Act), many radiology practices are clamping down on their hiring. This leaves us all wondering - with all this anxiety and rumors of how bad the job market are, what is the true state of affairs in the radiologist hiring? We partnered with a recruiting firm to anonymously survey 345 residents who are currently in their final year of training (residency or fellowship) and are looking for jobs.
Here is what we found in the currently radiology hiring, salary, and job market trends among our sample survey takers:
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Total survey population: 309 fellows, 41 residents (n = 345)
Average # of positions applied for: 9.3
Number of interview offers: 7.1
Number of actual job offers: 1.9
Salary range offered: $225,000 - $390,000 (year 1)
Number of radiology residents/fellows applying for academic positions only: 25 (7.2%)
Number of radiology residents/fellows applying for private practice positions only: 50 (14.4%)
Number of radiology residents/fellows applying for both: 270 (78.2%)
How many trainees felt that it has been VERY difficult to find a job opening: 320 (92.7%)
How many trainees felt that it has been MODERATELY difficult to find a job opening: 24 (7.0%)
How many trainees felt that it has been NOT difficult to find a job opening: 1 (0.3%)
Where did residents/fellows initially hear of positions / openings?
Society Websites (ACR, RSNA, etc): 300 (86.9%)
Physician/Radiologist Recruiter: 150 (43.4%)
Networking (word of mouth, faculty, friends, family): 330 (95.6%)
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In summary, the data supports that on average, residents/fellows have applied to on average over 9 job openings in order to obtain approximately 7 interviews. On average, each applicant received approximately two job offers.
What about radiologist starting salary this year? It seems that if a radiology resident or fellow is able to find a job, the radiology salary bracket is still very competitive for radiologists. Radiologist salary range is still excellent for medical subspecialties with a low at $225,000 and a high at $390,000.
In terms of types of practices, many residents are now looking at BOTH academic and private practice settings. As expected based on prior trends, more residents and fellows are looking at private practice only versus academic positions only in a 2 to 1 ratio.
What about the morale of trainees in radiology? It doesn't look good at all. An overwhelming number of job hunters... nearly 92.7% felt it was VERY difficult to find a job! Only one respondee in the survey stated it was not difficult to find a job.
Where are current trainees looking for job positions? Nearly all cited networking as a critical strategy for finding job openings - 95.6% of trainees stated that networking is really the ultimate way of finding jobs. A close second to networking are society websites such as those organized by ACR and RSNA. About 43% used recruiters which is on the rise when compared to previous survey performed by a third party (28% cited in that survey).
We wish all trainees the best in their job searches this year as we are entering rough waters in diagnostic imaging. As practices face uncertainty, the job market too will be in uncertain times. Hiring in all industries has been cyclical and we too hope this is a short-term trend with a rebound coming for the radiology job market in the future. radRounds will keep tabs on the pulse of the job market and bring the latest trend data.
by Jennifer Larson
Staff Writer and Community Manager
radRounds Radiology Network
With the impending uncertainty related to upcoming healthcare reform in imaging reimbursements and fallout from the DRA (Deficit Reduction Act), many radiology practices are clamping down on their hiring. This leaves us all wondering - with all this anxiety and rumors of how bad the job market are, what is the true state of affairs in the radiologist hiring? We partnered with a recruiting firm to anonymously survey 345 residents who are currently in their final year of training (residency or fellowship) and are looking for jobs.
Here is what we found in the currently radiology hiring, salary, and job market trends among our sample survey takers:
----------------------------------------------------------------------------------------------------
Total survey population: 309 fellows, 41 residents (n = 345)
Average # of positions applied for: 9.3
Number of interview offers: 7.1
Number of actual job offers: 1.9
Salary range offered: $225,000 - $390,000 (year 1)
Number of radiology residents/fellows applying for academic positions only: 25 (7.2%)
Number of radiology residents/fellows applying for private practice positions only: 50 (14.4%)
Number of radiology residents/fellows applying for both: 270 (78.2%)
How many trainees felt that it has been VERY difficult to find a job opening: 320 (92.7%)
How many trainees felt that it has been MODERATELY difficult to find a job opening: 24 (7.0%)
How many trainees felt that it has been NOT difficult to find a job opening: 1 (0.3%)
Where did residents/fellows initially hear of positions / openings?
Society Websites (ACR, RSNA, etc): 300 (86.9%)
Physician/Radiologist Recruiter: 150 (43.4%)
Networking (word of mouth, faculty, friends, family): 330 (95.6%)
----------------------------------------------------------------------------------------------------
In summary, the data supports that on average, residents/fellows have applied to on average over 9 job openings in order to obtain approximately 7 interviews. On average, each applicant received approximately two job offers.
What about radiologist starting salary this year? It seems that if a radiology resident or fellow is able to find a job, the radiology salary bracket is still very competitive for radiologists. Radiologist salary range is still excellent for medical subspecialties with a low at $225,000 and a high at $390,000.
In terms of types of practices, many residents are now looking at BOTH academic and private practice settings. As expected based on prior trends, more residents and fellows are looking at private practice only versus academic positions only in a 2 to 1 ratio.
What about the morale of trainees in radiology? It doesn't look good at all. An overwhelming number of job hunters... nearly 92.7% felt it was VERY difficult to find a job! Only one respondee in the survey stated it was not difficult to find a job.
Where are current trainees looking for job positions? Nearly all cited networking as a critical strategy for finding job openings - 95.6% of trainees stated that networking is really the ultimate way of finding jobs. A close second to networking are society websites such as those organized by ACR and RSNA. About 43% used recruiters which is on the rise when compared to previous survey performed by a third party (28% cited in that survey).
We wish all trainees the best in their job searches this year as we are entering rough waters in diagnostic imaging. As practices face uncertainty, the job market too will be in uncertain times. Hiring in all industries has been cyclical and we too hope this is a short-term trend with a rebound coming for the radiology job market in the future. radRounds will keep tabs on the pulse of the job market and bring the latest trend data.
by Jennifer Larson
Staff Writer and Community Manager
radRounds Radiology Network
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