Pulmonologist Salary Figures in 2024 [Explained]

Pulmonologists in the US earn an average of $397,000. However, it may take some time before they can actually earn that number, as their journey requires patience and a considerable amount of work and job search.

This guide will explain the pulmonologist’s salary, how it can fluctuate, and how you can increase it.

What Is the Average Pulmonologist’s Salary?

Medscape’s 2024 Physician Compensation Report suggests that Pulmonary Medicine yields its practitioners a good average of $397,000 per year. This average is fairly higher if you compare it to 2023’s average, which was around $378,000.

However, keep in mind that these numbers include all physicians. In reality, PCPs earn around $277,000, and specialists earn $394,000 per year.

Here are the results from other sources across the web:

• Payscale (2024): $252,699 (without bonuses)
• ZipRecruiter (2024): $341,187
• Indeed.com (2024): $287,722
• Salary.com (2024): $304,940

Medscape is currently the most reliable source of physician compensation data, which is why you see fluctuating results in other sources.

However, if we get the mean amongst the four other sources, we get an average of $296,637, which is still close enough.

Salary Gender Pay Gap

There’s no official 2024 data regarding the gender pay gap. However, the 2023 Medscape compensation review found a significant $86,000 difference between payments, with male doctors earning $386,000 per year compared to females earning $300,000.

In other words, despite having no official data for 2025, it’s safe to assume that the pay gap is still there to date.

Factors That Affect a Pulmonologist’s Salary

There are many factors that determine whether a pulmonologist’s salary will land on the higher side or lower side of the salary range. Here are the three most influential factors:

• Years of experience
• Location
• Type of practice

Years of Experience

As pulmonologists gain experience through the years, they can expect to see a rise in salary.

During residency, the average pulmonologist receives $67,400 per year, according to Medscape. Similar to practicing physicians, residents can expect to see a slight increase in income with each year of experience, reaching an average of $74,000 in years 6–8.

According to Payscale, pulmonologists earn the most during their late-career years. They reach their peak income ($375,000 on average) after 20 years of experience.

Location

The state you work in plays a significant factor in how much you’ll make every year. Here are the top 10 states where pulmonologists are paid the most:

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
New York	$378,530	$31,544	$7,279	$181.99
Vermont	$372,015	$31,001	$7,154	$178.85
California	$365,379	$30,448	$7,026	$175.66
Maine	$354,825	$29,568	$6,823	$170.59
Idaho	$351,018	$29,251	$6,750	$168.76
Washington	$348,279	$29,023	$6,697	$167.44
Pennsylvania	$346,677	$28,889	$6,666	$166.67
Massachusetts	$342,438	$28,536	$6,585	$164.63
Alaska	$340,269	$28,355	$6,543	$163.59
New Jersey	$339,010	$28,250	$6,519	$162.99

Notice how big the gap is in the lowest-paying states:

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
Oklahoma	$286,494	$23,874	$5,509	$137.74
Texas	$286,118	$23,843	$5,502	$137.56
Kansas	$284,495	$23,707	$5,471	$136.78
North Carolina	$282,962	$23,580	$5,441	$136.04
Louisiana	$279,733	$23,311	$5,379	$134.49
Kentucky	$271,797	$22,649	$5,226	$130.67
Michigan	$271,691	$22,640	$5,224	$130.62
West Virginia	$267,744	$22,312	$5,148	$128.72
Arkansas	$258,218	$21,518	$4,965	$124.14
Florida	$255,307	$21,275	$4,909	$122.74

Source: ZipRecruiter (2024)

If you’re thinking about moving to a new city or state to practice pulmonology, it is wise to consider the cost of living and the demand for your specialty in the area.

Type of Practice

According to some sources, pulmonologists earn the highest salary if they work in a multispecialty group practice, and those in single-specialty group practices are close behind.

Those who work for healthcare organizations and outpatient clinics make up the median group.

This source claims that pulmonologists working in a hospital setting are the lowest-earning group, making less salary than those who work in academic environments.

Additional Ways to Increase Your Salary as a Pulmonologist

Want to earn the highest salary possible? Here are some things you can do:

Take Advantage of Pulmonologist Salary Bonuses

According to Statista, across all specialties, the median physician signing bonus in 2023–2024 was $31,473.

As a pulmonologist, you can expect to be offered a sign-on bonus along the lines of the median, if not higher, which will increase your salary. If you are not offered one during employment negotiations, ask for it.

Many hospitals make incentives and bonuses a central part of their compensation structure. The amount of a pulmonologist’s pay that is purely based on incentives varies depending on the specific payment model.

To ensure that you get your proper portion of bonuses, make sure you understand your employer’s payment model and follow the best procedures to increase your earned incentives.

Invest in Real Estate

Thinking about opening your own private practice? To do that, you need your own office space.

Instead of renting a space from someone else, it makes financial sense to purchase a profitable office building. Look for a building that has the perfect space for you and some additional space to rent to other pulmonary physicians or those with related job titles.

This way, you’ll turn what would be a monthly bill into passive monthly income.

Hire Assistants

Many pulmonologists and others practicing critical care medicine hire physician assistants and nurse practitioners to care for the less intense cases.

This allows the physicians to take on more patients and make money from each visit without having to work so many hours.

Offer Niche Services

It could be beneficial to develop a niche or sub-specialize to gain a more targeted patient pool.

For instance, interventional pulmonologists conduct specialized tests and procedures that are not as invasive but still bring in a pretty penny.

Advances in pulmonary medicine are happening at a frequent pace. Adapting to these changes and learning new skills can make you a very sought-after physician.

Building a Retirement From Your Annual Salary

Pulmonologists should also have a retirement plan in place. The earlier that a physician begins to make plans for this eventuality, the better.

The varying avenues that physicians can use to build their retirement fund can be complex and overwhelming to some. But, an experienced financial advisor can help you make the best choices for retirement planning.

Types of Retirement Savings Accounts

Here are some of the retirement planning options you may have available to you:

401(k)

A 401(k) plan is the most prevalent retirement plan for Americans. Most employers will offer a traditional 401(k) plan, which will allow you to make deposits into your account to save for retirement.

If you withdraw from this account early, you will be fined a penalty fee.

403(b)

This is similar to the 401(k) plan but is specific to non-profit or military employment.

457(b)

457(b) accounts are similar to 403(b) accounts, but there are no early withdrawal fees.

401(a)

This is another non-profit employment retirement option. This one will include contributions from your employer.

Profit-Sharing Plans

This plan is for employees of for-profit organizations and includes contributions from your employer. The company will take a percentage of its annual profit and add it to your retirement fund.

Cash Balance Plans

This type of retirement account is similar to a 401(k). However, you have a fixed payout, so you will not risk losing any of your investment due to poor stock market performance.

Traditional IRA

IRAs are additional savings outlets that you can use to save for retirement. Traditional IRAs allow you to make a specific amount of tax-deductible contributions to put away for retirement.

Roth IRA

A Roth IRA is similar to a traditional IRA. You cannot deduct your contributions from your taxes, but you don’t pay taxes on the amount you withdraw at retirement.

SEP-IRA

This is a simplified employee pension IRA. These accounts are like traditional IRAs for self-employed people.

SIMPLE IRA

This is a non-selective, employer-created IRA plan. If your employer offers this to you, you must participate, and they are required to make contributions for you to match.

Investments

You can invest in stocks, bonds, mutual funds, and real estate that will hopefully grow in value by the time you are ready for retirement.

If you’re looking for the best option to help you save for retirement, contact our retirement planning team — we may be able to help.

We Can Help You Secure Your Financial Future

Of course, you don’t have to figure out how to do this alone. Let us help you navigate every step to financial freedom so that you don’t just survive; you thrive. Contact Physicians Thrive today.

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