Average Cardiologists Salary in New Mexico
Cardiologists in New Mexico earn an average annual salary of $386,030, which is notably below the national average of $435,200. This disparity can be attributed to a combination of factors including the specific demand within the state, the overall economic landscape, and the concentration of healthcare facilities. While lower than the national benchmark, the salary reflects the critical nature of cardiac care.
Executive Summary
- Average Salary: $386,030 per year.
- Growth Trend: Salaries have shifted 6.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $579,045.
- Outlook: The job market for Cardiologists in New Mexico, while not as large as in some other states, shows a significant concentration. With a total local workforce of 310 and a Location Quotient of 3.1, indicating a presence 3.1 times greater than the national average, there is a clear demand for these specialized medical professionals within the state. This suggests a robust, albeit niche, job market for cardiac specialists.
Salary Overview
The average Cardiologists in New Mexico earns-11.3%below the national average.
$185.6
$7,424
$32,169
Cardiologists Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that salaries for Cardiologists in New Mexico have experienced steady growth over the past four years, mirroring national trends. Factors such as increasing healthcare needs, advancements in cardiac procedures, and the ongoing demand for specialized medical talent likely contribute to a positive salary trajectory for these professionals.
Cardiologists Salary Distribution in New Mexico
Salary progression for Cardiologists is strongly tied to experience. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned professionals with extensive experience and specialized skills can expect to earn significantly more. The percentile gaps in salary data, from the 25th to the 75th percentile and beyond, clearly signify the substantial career progression and earning potential available as one advances in their cardiology career.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Resident / New GradClinical rotation complete. Gaining floor experience. | 10% (Entry) | $230,100 | $110.6 |
| Staff ClinicianFull patient caseload. Proficient in core procedures. | 25% (Junior) | $289,523 | $139.2 |
| Charge / SeniorShift lead. Precepts new hires. Specialized certification. | 50% (Median) | $386,027 | $185.6 |
| SpecialistAdvanced degree/cert (e.g., ICU, OR). High acuity cases. | 75% (Senior) | $482,538 | $232 |
| Director / LeadDepartment head or Advanced Practice Provider. | 90% (Expert) | $579,045 | $278.4 |
Detailed Cardiologists Market Analysis
Relocation Context
Nominal Salary
$386,030
Gross Pay
Real Wage (Purchasing Power)
$430,837
Adjusted for COL (89.6)
The nominal average salary of $386,030 in New Mexico presents a compelling financial picture when considered against the state's Cost of Living Index of 89.6. This index is below the national average of 100, meaning that everyday expenses such as housing, utilities, and transportation are generally more affordable. Consequently, the purchasing power of a Cardiologist's salary in New Mexico is likely higher than the raw salary figure might suggest, offering a good standard of living.
Job Market Context
310
Total Jobs
0.362
Per 1K Jobs
3.1
Location Quotient
New Mexico has 3.1x the national concentration of Cardiologists jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
New Mexico's Location Quotient of 3.1 for Cardiologists is a strong indicator of a concentrated and relatively high demand for these specialists compared to the national average. A LQ significantly above 1.0 suggests that the state employs a proportionally larger number of Cardiologists than would be expected based on the general workforce size. This indicates a competitive market where specialized skills are highly valued and sought after by local healthcare providers.
Nearby Job Markets
Nearby Cities for Cardiologists
| City | Salary | Dist. |
|---|---|---|
| Albuquerque, NM Cardiologists Salary | $315,800↓ 18% | 29 mi |
Comparing salaries near New Mexico
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Frequently Asked Questions
How much does a Cardiologists make in New Mexico?
The median annual salary for a Cardiologists in New Mexico is $386,030. This typically ranges from $230,100 for entry-level positions to $579,045 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Mexico is 11.3% lower than the national median of $435,200.
Is New Mexico a lucrative place for Cardiologists?
Yes, with a caveat.While the average salary is below the national average, the significantly lower cost of living enhances purchasing power. The high concentration of cardiologists (LQ of 3.1) also indicates strong local demand.
Is New Mexico a good place to live for Cardiologists?
With a Cost of Living Index of 89.6 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near New Mexico?
Some top paying nearby cities include Albuquerque, NM ($315,800) and others.
How does New Mexico's cardiologist salary compare to the national average?
Cardiologists in New Mexico earn an average of $386,030 annually, which is approximately $49,170 less than the national average of $435,200.
What is the cost of living in New Mexico compared to the rest of the US?
New Mexico has a cost of living index of 89.6, which is 10.4% lower than the national average index of 100, making it a more affordable state to live in.
Is there a high demand for Cardiologists in New Mexico?
Yes, the Location Quotient of 3.1 suggests a demand for Cardiologists that is 3.1 times greater than the national average, indicating a strong presence and need for these specialists.
How many Cardiologists are there in New Mexico?
The total local workforce for Cardiologists in New Mexico is approximately 310 individuals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 310 employees in the New Mexico area with a job density of 0.362 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Cardiologists • Data source: BLS OEWS 2024 •Jobs in New Mexico