1) Please keep in mind I'm not a pathologist, but from what I hear unfortunately it sounds like it's pretty tough for pathologists. Just check out the path forum for example. They would be a much better resource than me.
2) However here's what I am aware of, but again take my thoughts or opinions with a grain of salt:
-Path is a 4 year residency, but doing a fellowship is all but required now since almost everyone is doing it, which effectively turns path into a 5 year residency. Some pathologists are even doing 2 fellowships so 6 years total, but I'm not sure how common doing the 2nd fellowship is.
-Path has one of the lowest or actually maybe the lowest percentage of US MDs matching into their residencies (data is available via
the NRMP, see data for the 2017 Main Match). If I remember path residencies are filled with around 35% US MDs and the rest are non-US MDs and mostly IMGs. Other competitive specialties like dermatology will have over 90% US MDs matching into their residencies. The number of US MDs matching into a specialty is a rough but helpful indicator of how competitive a specialty is.
-My understanding though is that if you're a US MD, you should be able to get into a solid and even a top tier path residency. My understanding is most US MDs do find a path job eventually. I think the non-US MDs and IMGs face more difficulty finding a job for various reasons which I won't get into here.
-But starting salaries for path jobs are low. I believe around $200k/year after 5-6 years of residency. That might seem high as a pre-med, but it's among the lowest of all physicians. I think most PCPs (primary care physicians) like pediatricians and family physicians can make $200k or depending on where you live even more than that. About $250k seems average for PCPs. And PCPs are doing a 3 year residency, not 5+ years. And these salaries are low compared to other specialties, especially surgical specialties and subspecialties, and some IM subspecialties (e.g., GI, cards, pulm/critical care and heme/onc especially), as well as anesthesia and radiology, all of which will average over $350k (some well over $400k) and are more or less around the same length in training (give or take a year) as pathologists have to train for.
-In order to get a path job, even as a US MD, you will likely have to "sell" or "market" yourself a bit more. For most other specialties, especially PCP jobs, you will have people coming to you and offering you tons of options for jobs. But in path, you are more likely to be the one going out and trying to get a job. Nothing wrong with that, because that's what people in most jobs have to do, send in their CV/resume, apply to jobs, interview for jobs, etc. So in path you'll be trying to get other pathologists in your dept or university to know who you are, publish research, attend conferences and try to meet pathologists who can hire you, and so on. Just something to consider.
-Also, as a pathologist, you will most likely not have as much geographic flexibility in your job search as most other specialties would. That is, you won't be able to live wherever you want to live in the US. You have to go to where the jobs are. Jobs in popular areas where many people want to live (e.g., California, Northeast) are going to be few and far between. So you most likely won't end up there. Or if you do, you may be working for less than the average compensation or working more hours for the same compensation.
-After you get a job, if you work hard, you can eventually go from $200k to over $300k, from what I understand. But that may take a more years than in other specialties. For example, partnerships in many or maybe most other specialties tend to be around 2 years. So you will have a starting compensation, then usually a much higher compensation once you become partner. But in pathology, this is likely longer than 2 years. (However private practices are disappearing across many other specialties, but that's a separate issue).
-However if you are fine with all this, and like path, then pathology is a good choice. You do generally have a good lifestyle as an attending. Much better than a lot of other specialties.