28% of U.S. Cardiologists Boast a Net Worth of More Than $5 Million – Disparity Between Men and Women Cardiologists

A recent survey conducted by Medscape reveals that around 28% of U.S. cardiologists boast a net worth exceeding $5 million, placing them fourth among medical specialties. Only radiologists, gastroenterologists, and urologists report higher percentages in this wealth bracket, with 31%, 31%, and 33%, respectively.

The insights are drawn from Medscape’s 2024 Cardiology Wealth & Debt Report, which compiled responses from over 7,000 physicians between October 2023 and January 2024. Cardiology was just one of the many specialties analyzed in the survey.

A notable finding of the report highlights the disparity in net worth between male and female cardiologists. Specifically, 16% of male cardiologists possess a net worth exceeding $5 million, in stark contrast to only 6% of their female counterparts. Additionally, 25% of male cardiologists have a net worth ranging from $2 million to $5 million, compared to 10% of female cardiologists.

Conversely, 27% of female cardiologists report a net worth under $500,000, whereas this is true for only 18% of male cardiologists. Similarly, 27% of female cardiologists have a net worth between $500,000 and $999,999, compared to 12% of males.

However, the report shows almost no difference in the percentages of male and female cardiologists with a net worth between $1 million and $1.999 million, at 28% and 29%, respectively.

Ben Utley, a service team leader with Physician Family Financial Advisors in Beaverton, Oregon, provided commentary on the findings, predicting that significant changes in the wealth gap between male and female cardiologists will likely take decades.

Additionally, 60% of cardiologists reported living within their means, while 7% acknowledged living above their means, while 33% said they live below their means. Although most cardiologists did not report severe financial losses over the past year, 22% admitted to poor investment decisions. Only 29% of cardiologists anticipate growth in their investment portfolios over the next year.

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