This site will answer your questions about the duration and salaries: http://www.ama-assn.org/ama/pub/category/2997.html

I’d double check the validity of the statement that you won’t have to take the MCAT. The MCAT is a requirement established by the accrediting authority of all med schools and I’ve never heard of any exception to this…unless you plan on attending an offshore medical school.

It all depends on what you want to do in Oncology. My brother is a Pediatric surgeon and he had 9 years of residency compared to the normal 7 years for General surgery. But he’s still a surgeon. So, it really depends on how specialized you want to get. They do pay you for residency, but it’s not much. Enough to live on but not to have a lot of luxuries. But, when you are a resident you can pick up shifts at the emergency room, it’s called moonlighting, and they pay you really well. Especially if you agree to work the overnight shifts because they are so short staffed. And they pay you overtime for anything over 8 hours. You could potentially make a couple extra thousand dollars a month. Good luck with all your future endeavors.