The neonatologist salary in the US is more than $203,000 per year, similar to earnings for this position in Canada where annual salaries average C$284,600 or $211,000 USD and in Australia at AU$262,000 or 195,168 USD. Of the countries reviewed for this guide, neonatologist earnings for those in the UK and New Zealand are on the lower end of the scale at £91,937 ($108,822 USD) and NZ$181,500 ($128,143 USD), respectively. Geographic region, professional experience, and work setting affect salaries worldwide with further details explained in this guide.
How Much Does a Neonatologist Make?
The chart below provides salary and US dollar equivalents for neonatologists in select countries worldwide.
|Neonatologist Salary||US||Canada||UK||Australia||New Zealand|
Neonatologist Salary Determinant Factors
Various professional resources like Payscale.com, Recruit.net, Glassdoor.com, and Careers.govt.nz provide information on incomes and a career in neonatology. The required level of education and specialization necessary for this career places neonatologists among some of the highest wage earners worldwide, but variances in earnings are influenced by geographic region, professional experience, and work setting as described in the following paragraphs.
1. How Much Does a Neonatologist Make by Country?
Neonatologist Salary in the US
In the US, neonatologists starting their career earn more than six figures, increasing to about $192,000 within the first five years of work. Salaries continue to increase steadily over one’s career, peaking at about $293,000 per year for those with 20 years’ or more experience. Nearly $64,000 in additional income can be earned through bonus and profit sharing potential that is offered by some employers.
Neonatologist Salary in Canada
According to the Canadian Medical Association, pediatricians, including neonatologists, earn an average income of C$284,600 per year. Staff neonatologists can expect a starting annual salary of about C$135,000, increasing to about C$281,000 per year, while the most experienced neonatologists serving in a Chief staff position earn between C$512,000 and C$559,000 per year.
Neonatologist Salary in the UK
Many healthcare positions in the UK are funded by the National Health Service, meaning there is little variance in salary from employer to employer, and experience is the primary influencer of earnings. Entry level neonatology positions in the UK pay between just under £39,000 up to more than £72,000 per year. Neonatologists at the consultant level who work under the National Health Service of UK can expect to earn between nearly £77,000 and £105,000 per year.
Neonatologist Salary in Australia
Entry level neonatologists in Australia who are in their first year post-training earn between about AU$88,000 and AU$144,000 annually. With additional experience and promotion to the consultant level, earnings increase dramatically to between AU$342,085 and AU$436,000.
Neonatologist Salary in New Zealand
Physicians, including neonatologists, in New Zealand earn between NZ$70,00 and NZ$175,000 per year while completing training through the District Health Board. Earnings increase post-training to between NZ$151,00 and NZ$212,000 per year. It is possible to earn up to NZ$600,000 annually for senior level positions in the private sector.
2. How Much Does a Neonatologist Make According to Experience?
Experience strongly influences salary ranges for neonatologists worldwide. All countries reviewed in this guide see triple-digit increases in salary between entry level and senior level positions. Australia posts the largest difference with senior level neonatologists earning about 395% more than their entry-level colleagues. In the US, where salaries are among the highest, the experience can boost income by about 187%, and in the UK, where incomes are lower, this difference is about 169%.
3. How Much Does a Neonatologist Make According to Work Environment?
Most neonatologists work in hospitals and clinics while some are employed in private practice. Those who work in the private sector or for-profit hospitals and clinics can expect to receive bonus and profit sharing pay that may not be available in the public sector or in nonprofit organizations. In the UK, where the National Health Service funds many neonatology positions, there is little difference by work setting; however, in the US, neonatologists may receive signing bonuses by some employers.
Most neonatologists work full-time hours that exceed 40 hours per week. Those who work in hospital settings may be subject to schedules that span any day or hour of the week due to the 24-hour care provided in that setting. Evening, weekend, and holiday work may also be required. Neonatologists who work in private practice typically work during normal business hours from Monday through Friday with some on-call hours and occasional evening, weekend, and holiday times necessary. While their work can be demanding and stressful, most neonatologists express a high level of job satisfaction.
Bonuses and Benefits
As is typical for many in the healthcare field, a full benefits package that includes medical, dental, and vision insurance is commonly offered to neonatologists. Paid time off for vacation, sick, and holiday time is also customary. Some employers offer bonus and profit sharing potential, although this is more common in the private sector and in for-profit settings. Other benefits neonatologists may receive include allowances for meals and expenses incurred for continuing medical education.
The US Bureau of Labor Statistics estimates 14% growth in pediatricians, which includes neonatologists, representing a much faster than average growth rate. This growth is due to advancements in medicine and technology. To work as a neonatologist, a medical degree following undergraduate study is required. An additional three to seven years of training, internship and residency are also necessary. Licensure or registration with the appropriate governing body is required.
Neonatologists must complete extensive education and training, but earn strong salaries worldwide and express a high level of job satisfaction. Generous bonus and benefits packages can also be offered. The future job outlook is positive with a faster than average growth rate expected, which should provide demand to support salary levels in the coming years.