Salary
Average Salary: $79,840
Expected Lifetime Earnings: $3,333,160
While there aren't specific numbers for cancer biologists, the $80,000 or so a year that medical scientists make give you a good idea of the baseline (source). Anything related to medicine comes with a decent paycheck, and your field is right at the center of a great deal of medically-necessary cash infusions.
While you may have taken on some serious debt during your eight to twelve years of higher education, this salary will get you out of that hole a lot quicker than those friends of yours with degrees in less-certain fields like philosophy or music theory. Some jobs advertise a starting salary of upwards of $150,000.
None of this should come as a shock, as cancer research is up there with cat videos and ice cream in terms of popularity. Billions of dollars go towards cancer research every year. Some organizations collect money specifically for cancer research, while others fight a variety of diseases.
The federal government pays a pretty penny, as do philanthropic groups. And that doesn't include the money spent by the private companies that also have a stake in the Race for the Cure (they like the money, too).
We put a premium on this line of work, and that premium might include a summer home and a trip to some exotic country every once in a while.
Eventually, you may want to shift your focus from researching cancer biology to teaching it. After all, if your talents include enlightening young minds, why shouldn't you use them to help create and assist the technicians, biochemists, and radiation therapists of the future?
There are teaching positions available at numerous colleges and universities, and at an average of $75,000 a year (and likely more for your specialty), becoming a teacher doesn't mean your wallet will take a hit―just some of your sanity (source).