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GUIDESALARY
20192018
2018-2019 Salary Guide 2
ABOUTTHE GUIDE
The Health eCareers 2018 Salary Guide is a comprehensive resource on compensation and employment trends in the healthcare industry. Data for the 2018 Salary Guide is based on survey responses from more than 20,000 healthcare professionals, with 7,753 responders providing salary information. The healthcare occupations of the survey respondents included physicians and surgeons (65 percent), nurse practitioners (21 percent) and physician assistants (14 percent).
The majority of survey respondents currently work full time (84 percent), with another 11 percent working part time. The remaining respondents (4 percent) work irregular hours or shifts or are engaged as residents or fellows. While 29 percent have been with their current employer for 11 or more years, 19 percent have been in their current position for 6 to 10 years and 23 percent began working in their current role 3 to 5 years ago. The remainder of respondents (29 percent) have 2 or fewer years tenure in their current jobs.
Throughout the report, compensation information is shown only where a sample size of at least 60 exists, to ensure statistical significance. Compensation findings were based off of three measures: “annual salary,” “hourly wage” and “clinical productivity.” In some cases, survey respondents reported salary as a combination of base salary and productivity. Compensation outliers were excluded from the data.
2018-2019 Salary Guide 3
HEALTHCARE EMPLOYMENT 2018: THE BIG PICTUREDespite continued attacks on the Affordable Care Act (ACA) in 2018, the nation’s demand for healthcare —and the industry’s need for qualified healthcare workers—has continued to grow. The Bureau of Labor Statistics has noted an acceleration in healthcare hiring overall since early 2017, and the agency’s data shows the addition of 328,000 healthcare jobs over the last 12 months (December 2017 to November 2018)1.
A full 118,000 of those jobs1 were created within hospitals, a trend that’s likely to continue according to the Physicians Foundation 2018 Physician Survey. Of the nearly 9,000 U.S. physicians who responded, 31 percent identified as independent practice owners or partners2. However, among doctors 45 years or younger, only 18 percent were independent practice owners or partners, while 53 percent worked for hospital or hospital-owned medical groups2, indicating a shift away from self-employment.
With sustained growth within hospitals and other healthcare systems and settings, it’s easy to see why the healthcare unemployment rate continues to fall below that of average unemployment across industries (2.3 percent in November compared to the 3.7 percent average across industries)3. Though good news for healthcare jobseekers, the low unemployment rate is less ideal
for employers who are facing greater competition when trying to fill available positions as well as greater pressure to retain current employees.
Most of the healthcare professionals Health eCareers surveyed are happy with their job and not planning to look for work elsewhere in the near future. Additionally, 55 percent of respondents indicated they are very confident that they can find a favorable new position in their field within the next 12 months, while 9 percent said they are unhappy with their job and looking to make a change as soon as possible. When analyzed by specialty, survey data revealed family medicine professionals as the unhappiest with their current job and ophthalmology and otolaryngology professionals as the happiest.
GENERAL JOB SEARCH CONFIDENCE
55%
10%
33%
1%think it’s nearly
impossible to find a new job
are somewhat confident they can find a new position in the next
12 months
are not confident they can find a new position in the next
12 months
are very confident they can find a new position in the next
12 months
2018-2019 Salary Guide 4
THE HAPPIEST SPECIALTIES(Very Happy and Planning to Stay)
THE UNHAPPIEST SPECIALTIES(Unhappy and Looking to Change)
Ophthalmology (51%)
Otolaryngology (51%)
Dermatology (49%)
Rheumatology (45%)
Geriatrics (42%)
Orthopedics (42%)
Family Medicine (13%)
Occupational and Environmental Medicine (12%)
Radiology (12%)
Adult Gerontology (11%)
Gastroenterology (11%)
General Surgery (11%)
35%
VERY HAPPY
HAPPY UNHAPPY
GENERALLY HAPPYand planning to stay but looking
but don’t want to miss an opportunity
and looking to change ASAP
14% from 2017 8% from 2017
3% from 2017 3% from 2017
22%
34%
9%
35% 22%
34% 9%
CURRENT JOB SEARCH SITUATION
2018-2019 Salary Guide 5
22% Work for a different boss
Of course, sometimes physicians, nurse practitioners and physician assistants desire a change in employer regardless of overall happiness in their current role. Among the professionals Health eCareers surveyed, 16 percent anticipate changing employers within the next year, with professionals in several primary care specialties—including urgent care, internal medicine and family medicine—among those most likely to move on.
Higher compensation was the most commonly cited reason for changing employers, though several factors key to organizational culture—from better work environment and more rewarding work to better benefits—were also frequently selected.
56%
28%
16%
52%
29% Better work environment
Pathology (24%) Internal Medicine (20%) General Surgery (18%)
Urgent Care (23%) Critical Care (19%) Occupational and Environmental Medicine (17%)
Hospitalist (23%) Pain Management (20%) Endocrinology (17%)
Adult Gerontology (22%) Family Medicine (19%) Oncology (17%)
Higher compensation
29% Better working hours
27% Relocating
29% More rewarding work
11% Shorten commute
29% Work for different organization
9% More responsibility
28% Better benefits
5% Anticipate losing current position
do not anticipate changing employers in the next 12 months
don’t know if they’ll change employers in the next 12 months
anticipate changing employers in the next 12 months
25% from 2017
14% from 2017
11% from 2017
ANTICIPATE CHANGING EMPLOYERS WITHIN YEAR
SPECIALTIES MOST LIKELY TO CHANGE EMPLOYERS WITHIN YEAR
REASONS FOR CHANGING EMPLOYERS
01 05 09
03 07 11
02 06 10
04 08 12
$
2018-2019 Salary Guide 6
COMPENSATION:BY THE NUMBERS
According to Health eCareers’ 2018 Recruiting Trends Report, 37 percent of healthcare employers said it has taken slightly to substantially more time to hire for available positions in 2018, with the biggest reason (50 percent) being an inability to find qualified professionals4. The employers surveyed also noted critical physician shortages in a number of specialties including family medicine, internal medicine, psychiatry and obstetrics/gynecology4.
Physician assistant specialties facing critical shortages included general PA and psychiatric/mental health PA, while family medicine NP and psychiatric/mental health NP were the greatest shortage areas for nurse practitioners4.
Compensation plays a sizable role in both the recruitment and retention of healthcare professionals—and employers have had to adjust accordingly in the industry’s increasingly competitive environment. The majority (63 percent) of employers responding to Health eCareers’ 2018 Recruiting Trends Report said they were paying existing staff higher salaries than in the previous year4. Sixty-one percent also noted that the salaries they were offering new hires had increased, usually because candidates were asking for more money4.
SALARY SATISFACTION
MEDIAN COMPENSATION BY OCCUPATION
20% Very Satisfied (↑6%) 39% Somewhat satisfied (↑3%) 11% Neither satisfied nor dissatisfied (↓1%) 20% Somewhat dissatisfied (↓3%) 10% Very dissatisfied (↓5%)
$250,000Physician/Surgeon
(was $258,039 prior year)
(was $108,311 prior year)
(was $102,523 prior year)
PhysicianAssistant
NursePractitioner
$110,000 $109,000
Though compensation methods vary among the healthcare professionals responding for Health eCareers’ 2018 Salary Guide (with annual salary most common for physicians and PAs and hourly rate most common for NPs), the majority are somewhat to very satisfied with what they are earning.
2018-2019 Salary Guide 7
Internal Medicine $105,000Neurosurgery $120,000Oncology $110,500Orthopedics $114,000Pain Management $102,000Psychiatric Mental Health $105,000Urgent Care $112,000
Cardiology $110,000Critical Care $128,000Dermatology $107,000Emergency Medicine $117,000Family Medicine $104,500Gastroenterology $100,000General Surgery $109,500Hospitalist $110,000
Ob-Gyn $250,000Occupational & Environmental $205,700Oncology $336,000Ophthalmology $222,000Otolaryngology $320,000Orthopedics $375,000Pain Management $290,000Pathology $250,000Pediatrics $183,500Physical Medicine & Rehab $249,250Psychiatric Mental Health $230,000Pulmonology $285,000Radiology $350,000Rheumatology $200,000Urgent Care $207,000Urology $370,000
MEDIAN TOTAL POSSIBLE BONUS BY OCCUPATION
MEDIAN PHYSICIAN BASE SALARY BY SPECIALTY
MEDIAN PHYSICIAN ASSISTANT BASE SALARY BY SPECIALTY
Anesthesiology $353,250Cardiology $400,000Critical Care $325,000Dermatology $350,000Emergency Medicine $320,000Endocrinology $200,000Family Medicine $200,000Gastroenterology $375,000General Surgery $342,500Geriatrics $200,000Hospitalist $250,000Infectious Disease $214,400Internal Medicine $200,000Nephrology $235,000Neurology $245,000Neurosurgery $520,000
$30,000Physician/Surgeon
PhysicianAssistant
NursePractitioner
$6,400 $5,000
2018-2019 Salary Guide 8
MEDIAN NURSE PRACTITIONER BASE SALARY BY SPECIALTY
MOST IMPORTANT ASPECTS FOR NEW JOB (OTHER THAN COMPENSATION)
Internal Medicine $104,500Nephrology $109,000Neurology $110,000Ob-Gyn $101,000Oncology $112,000Orthopedics $117,000Pain Management $104,500Pediatrics $100,000Psychiatric Mental Health $124,500Urgent Care $115,000
Adult Gerontology $105,000Cardiology $112,000Critical Care $117,500Emergency Medicine $120,000Endocrinology $99,600Family Medicine $104,000Gastroenterology $110,000General Surgery $120,000Geriatrics $112,000Hospitalist $112,500
MORE THAN DOLLARS AND CENTS:ENVIRONMENT AND PERKSHealthcare professionals consider more than just compensation when evaluating their current employers and new opportunities. Among the physicians, PAs and NPs surveyed by Health eCareers for the 2018 Salary Guide, flexible work hours (55 percent), company culture (52 percent) and location (46 percent) were most frequently cited as important aspects in a new job. Flexible location and telecommuting also made the top ten list.
Flexible work hours
More vacation/ paid time off
Company culture
More time with patients
Location Sign-on or retention bonus
More interesting
assignments
Flexible location/ telecommuting
Training and certification
courses
High-level recognition
Promotion/new title
Stock options/equity
55% 52%
16%17%
46%
14%
41%
14%
34%
12%
19%
8%
2018-2019 Salary Guide 9
Of course, offering flexible work hours and telecommuting opportunities are a challenge for healthcare employers when most patient care still takes place in a face-to-face setting. Though a Society for Human Resource Management benefits survey found that 70 percent of employers across industries offer some type of telecommuting arrangement to their employees5, a Physicians Foundation survey found that only about 18 percent of physicians currently practice some form of telemedicine6.
The same Physicians Foundation survey found that 80 percent of physicians are at full capacity or are overextended6 and 45 percent of the healthcare professionals surveyed by Health eCareers report feeling burned out. These professionals also ranked burnout (50 percent) and work-life balance (46 percent) among the worst aspects of being in healthcare.
BEST ASPECTS OFBEING IN HEALTHCARE
Caring for people
80%
48%
34%
27%
26%
25%
Colleagues/collaboration
The science/interesting problems
Ability to work anywhere
Income/lifestyle
Respect/standing in community
WORST ASPECTS OFBEING IN HEALTHCARE
Recordkeeping
53%
50%
46%
46%
38%
33%
6%
Work-life balance
Burnout
Defensive medicine
Government interventions/regulations
Difficult patients
Personal safety
SPECIALTIES WITH MORE THAN 50%OF RESPONDENTS REPORTING BURNOUT
66% Hospitalist63% Pathology62% Nephrology61% Radiology
60% Infectious Disease 57% Dermatology56% Emergency Medicine 55% General Surgery55% Urology53% Critical Care 53% Neurology52% Urgent Care 51% Endocrinology51% Internal Medicine 51% Pediatrics
2018-2019 Salary Guide 10
Fortunately, patient interest in and acceptance of telehealth services is increasing. A 2017 survey by The Advisory Board Company found that 77 percent of patients would be interested in seeing their healthcare provider virtually7. And a retrospective chart review study conducted at the Medical University of South Carolina found that more than 90 percent of patients reported a positive experience when replacing an in-person visit with an e-visit8.
Investment in telemedicine, which can subsequently lead to greater telecommuting options and schedule flexibility within traditional healthcare settings, may be one of the best ways healthcare employers can improve employee experience and gain an edge in the industry’s increasingly competitive hiring environment.
1. https://www.bls.gov/web/empsit/ceshighlights.pdf
2. https://physiciansfoundation.org/research-insights/the-physicians-foundation-2018-
physician-survey/
3. https://www.bls.gov/iag/tgs/iag62.htm
4. https://resources.healthecareers.com/healthcare-reports/2018-annual-recruiting-jobs-
report
5. https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/
Documents/2018%20Employee%20Benefits%20Report.pdf
6. https://physiciansfoundation.org/research-insights/the-physicians-foundation-2018-
physician-survey/
7. https://www.prnewswire.com/news-releases/virtual-visits-with-medical-specialists-draw-
strong-consumer-demand-survey-shows-300475757.html
8. https://www.healthaffairs.org/doi/abs/10.1377/hlthaff.2018.05122
RESOURCES
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