PhysEmp Market Intelligence | physemp.com
The Hook
Somewhere in Cooperstown, New York—a village better known for baseball memorabilia than oncology—a Hematology Oncology position is offering up to $850,000 annually.
That is not a typo.
It is the market rate for treating cancer in a town with one stoplight and a Hall of Fame.
The national dataset contains 314 active Hematology Oncology listings across 47 states, with disclosed salaries ranging from $250,000 to $870,000. The market is highly active, exceptionally well compensated, and governed by a geographic pricing model that occasionally borders on the surreal.
The data tells a clear story: demand is strong, compensation is substantial, and scarcity remains one of the most powerful forces in physician recruiting.
The National Snapshot
| Metric | Value |
|---|---|
| Total Listings | 314 |
| Listings With Salary Data | 68 |
| Full Salary Range | $250,000 – $870,000 |
| National Average Range | $487,118 – $574,515 |
| Most Common Compensation Band | $400,000 – $600,000 |
The compensation spread is enormous.
A $620,000 gap separates the lowest disclosed offer from the highest. At that scale, salary becomes less about specialty and more about geography, practice setting, and recruitment difficulty.
While the national average suggests a comfortable floor near half a million dollars, averages tend to flatten outliers—and Hematology Oncology has no shortage of them.
States Represented
New York, California, Missouri, New Jersey, Ohio, Massachusetts, Minnesota, Washington, Nevada, Michigan, Illinois, Colorado, Vermont, Kentucky, Hawaii, Maryland, Indiana, South Carolina, West Virginia, Wisconsin, Georgia, Florida, Arkansas, Oregon, Idaho, Pennsylvania, Wyoming, New Hampshire, Kansas, North Carolina, Tennessee, Connecticut, Maine, Alabama, New Mexico, Virginia, South Dakota, Louisiana, Montana, Iowa, Mississippi, Alaska, Texas, Arizona, North Dakota, Rhode Island, and Nebraska.
State-by-State Analysis
Overperformers
Massachusetts
$450,000–$800,000
The widest disclosed compensation range in the country, reflecting the coexistence of academic medicine, tertiary referral centers, and highly specialized oncology practices.
Illinois
$556,250–$731,250
Strong and consistent compensation that significantly outperforms national averages.
Michigan
$600,000–$650,000
Offers compensation comparable to top coastal markets without the corresponding cost of living.
Missouri
$650,000
A single disclosed listing, but a memorable one.
Maryland
$650,000
Limited sample size, substantial compensation.
Montana
$650,000
A textbook example of scarcity-driven pricing.
Hawaii
$650,000–$700,000
Excellent compensation, accompanied by one of the highest costs of living in the country.
Nevada
$625,000
A quiet outperformer that deserves attention.
California
$517,704–$662,304
One of the few markets successfully combining high listing volume with high compensation.
Minnesota
$587,500–$597,500
A narrow range that sits comfortably above the national average.
Oregon
$575,000–$675,000
Premium compensation from a single disclosed opportunity.
Near the National Average
Ohio
$491,667–$512,500
A useful benchmark market.
Colorado
$491,750–$557,250
Strong middle-of-the-market compensation.
West Virginia
$550,000
Solid and dependable.
Wyoming
$500,000
Predictable compensation aligned with national norms.
North Dakota
$500,000
Similarly consistent—and significantly colder.
Washington
$475,000–$550,000
A surprisingly modest showing for a relatively active market.
Underperformers
New York
$413,182–$515,227
The largest Hematology Oncology job market in the country, yet compensation falls below national averages.
New Jersey
$350,000
Well below expectations for a high-cost region.
Kentucky
$290,000
Significantly below national norms.
Vermont
$250,000–$350,000
The lowest disclosed compensation range in the dataset.
Volume Leaders
| State | Listings |
|---|---|
| New York | 33 |
| North Carolina | 19 |
| Wisconsin | 16 |
| Florida | 14 |
| Michigan | 13 |
| West Virginia | 13 |
| Washington | 12 |
| Oregon | 11 |
| Ohio | 11 |
| Indiana | 10 |
| New Hampshire | 10 |
New York leads the nation in job volume while underperforming on compensation.
Several high-volume states—including Wisconsin, Florida, North Carolina, Indiana, and New Hampshire—disclosed no salary information at all.
What This Means for Physicians
If Your Priority Is Maximum Compensation
The highest disclosed listing in the dataset reaches $870,000 annually.
The market summary also identifies a Cooperstown, New York opportunity offering up to $850,000, placing it among the most lucrative positions in the country.
Massachusetts, Illinois, and California also provide credible paths to compensation exceeding $700,000.
If Your Priority Is Maximum Optionality
The highest-volume markets include:
- New York (33 listings)
- North Carolina (19)
- Wisconsin (16)
However, only New York provides meaningful salary disclosure, and even then compensation trails many smaller markets.
If Your Priority Is Balance
California stands out as one of the few markets offering both:
- Meaningful job volume
- Above-average compensation
Michigan and Ohio also present attractive combinations of opportunity and earnings.
Cost-of-Living Considerations
Compensation should never be evaluated in isolation.
Hawaii’s $650,000–$700,000 range appears exceptionally attractive until housing, transportation, and everyday expenses enter the equation.
The same principle applies to portions of California and Massachusetts, where higher salaries may be partially offset by substantially higher living costs.
What This Means for Recruiters and Healthcare Executives
The Transparency Problem
Only 68 of 314 listings disclosed compensation.
That equates to a salary transparency rate of 21.7%.
In a specialty where disclosed salaries range from $250,000 to $870,000, withholding compensation is not a neutral choice. It becomes a filtering mechanism that may discourage highly qualified candidates before a conversation ever begins.
Pipeline Implications
Several high-volume markets—including Wisconsin, Florida, North Carolina, Indiana, and New Hampshire—posted substantial hiring demand while disclosing no compensation information.
Candidates with multiple opportunities are increasingly likely to prioritize transparent employers.
Volume Does Not Guarantee Recruiting Advantage
New York leads the nation in listing volume.
Yet Michigan, Missouri, Illinois, and California all report substantially stronger compensation profiles.
Recruiters in New York may need to emphasize:
- Institutional reputation
- Clinical infrastructure
- Fellowship opportunities
- Research resources
- Patient complexity and case mix
because compensation alone may not be enough to differentiate opportunities.
Market Forces
Scarcity Is Driving Compensation
Montana, Hawaii, Missouri, and Maryland each reported a single salary-disclosed listing.
Every one of those listings exceeded $650,000.
Rural and geographically isolated markets continue to pay significant premiums to overcome recruitment challenges.
Whether that premium offsets lifestyle considerations is ultimately a personal decision.
Volume Does Not Equal Premium Compensation
New York’s 33 listings and below-average pay challenge the assumption that demand automatically translates into candidate leverage.
Large markets often benefit from deeper applicant pools, which can reduce compensation pressure despite high hiring activity.
The Transparency Gap Is the Story
With only 21.7% of listings disclosing compensation, national averages should be interpreted carefully.
Several high-volume states are effectively absent from the salary conversation altogether.
As a result, the published averages are heavily influenced by the states that choose to disclose compensation rather than the market as a whole.
Academic and Specialized Cancer Centers Expand the Ceiling
Massachusetts’ $450,000–$800,000 range is unlikely to represent a single uniform labor market.
Instead, it likely reflects a mix of:
- Academic oncology positions
- Community practice opportunities
- Subspecialized cancer center roles
- Research-intensive appointments
A similar dynamic likely contributes to compensation variability in Illinois and California.
Candidates evaluating these markets should expect the highest compensation tiers to carry additional expectations related to fellowship training, research activity, leadership responsibilities, or specialized expertise.
The Bottom Line
Hematology Oncology remains one of the most lucrative physician specialties in the market today.
Compensation rewards geographic flexibility, recruitment scarcity, and specialized expertise.
The states with the most opportunities are not necessarily the states with the highest pay. Meanwhile, some of the strongest compensation packages are emerging from smaller markets with limited physician supply and fewer competing employers.
The transparency rate of just 21.7% means much of the market still operates behind closed doors, leaving candidates to negotiate within a system that often reveals its numbers only after the conversation begins.
The highest-paid Hematology Oncologist in America may very well be practicing in a town more famous for baseball than medicine.
That fact alone explains a great deal about how this market prices scarcity.
Salary data based on 68 listings with disclosed compensation. Figures may reflect part-time, academic, leadership, or highly specialized roles. This report is for informational purposes only and should not replace professional judgment, contract review, or financial planning.
