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Healthcare Administration Salary Trends

Healthcare administration is a growing career field with a variety of jobs options for graduates. Many people that are entering the field want to understand what the salary trends currently are and where they are headed in the future. The good news for graduates is that many jobs in this field are seeing salaries increase at a faster rate than the average. However, it is important to be able to interpret the data in a way that future planning can be based off of it. Here are several facts about healthcare administration salary trends and what they mean for future graduates.

Average Salaries

One of the biggest reasons that many people get a degree in the healthcare administration field is the salary potential. A graduate can expect to earn around $50,000 per year with a job in this field. However, there is a wide range of salaries depending on the specific job that is landed within the field. One of the great things about this degree is the fact that a wide variety of jobs are available to choose from. However, this also means that salaries for graduates are going to vary greatly across different industries. Anyone that is wanting to earn more money than the average should look into which industries within the field pay the most.

Salary Trends

Many people know that healthcare administration is a growing field due to the changing demographics in the United States. As more people get older, the need for healthcare services is only going to increase. Salaries in this field are currently increasing faster than the average. This means that the demand for healthcare workers is increasing faster than the current supply of graduates. Until more people graduate with a degree in this field, the salaries are going to continue to trend higher. Graduates can have even higher salary potential by getting certified in different areas within this field. Anyone that is wanting to advance quickly within their company should look into continuing education options.

Future Job Growth

There are many experts in the industry that expect the future job growth to be strong for people with degrees in this field. As the population continues to age, many people think that demand will only continue to increase at a faster rate. It is important for colleges to prepare students to hit the ground running upon graduation. Anyone that is thinking about going in to this career field should be prepared for the challenges and opportunities that are available. The good news is that many people expect future job growth to continue to increase faster than the average for the other industries. Getting special certifications or other continuing education options is a great way to increase the chances of landing a great job in this field. With all of the changes that are occurring in the field of healthcare administration, this is an exciting time for graduates to be a part of this industry.

Phlebotomist Salary, Income and Hourly Pay

Of all the medical professionals, phlebotomists may have the most obscure name. For those of us not so familiar with our greek roots, a phlebotomist is one who draws blood and marks samples for transporting. They can also handle other medical samples such as urine. Their salary is comparable to those of other medical technicians, and close to the national average, It varies moderately with the experience of the professional, their chosen location, and the facility in which they work. On the whole, according to payscale.com, annual salaries range from approximately $21,000 to $38,000.

Phlebotomist Salary by Experience

The pay for a phlebotomist is roughly constant over the course of their career. Although it increases by 12% for those in their late career, the mid career salary increase is only 5%. The most experienced phlebotomists enjoy a salary 22% greater than that of their average peers. Entry level workers, on the other hand, earn on average 9% less than the nationwide standard. This is due to the fact that most phlebotomists have less than 20 years experience, and as such the gap between the highest and lowest earners is comparatively small.

phlebotomy training image1Phlebotomist Salary by Location

At $18.16 per hour, California pays its phlebotomists better than nearly anywhere else in the country, according to the Bureau of Labor Statistics, and has the highest level of employment, with .76 in this occupation per 1000 jobs. Other states with high wages are Alaska, Washington, DC, and New York, all with an average wage of over $18 per hour. Although California does have a high cost of living, the high pay is not limited to the urban centers: the highest paying city in the country is Redding, with a mean hourly wage of $22.36. Indeed, of the top ten paying cities across the country, nine are in California, with the addition of the Bethesda, MD area suburbs of Washington, DC. Other areas in the top five are, in descending order, metropolitan Oakland, Vallejo-Fairfield, Santa Barbara, and San Jose. Another larger reason with salaries higher than the national average is Southwestern Washington State, with a mean hourly wage of $17.79.

Phlebotomist Salary by Employer

A strong plurality of phlebotomists are employed by hospitals and medical laboratories, together accounting for nearly 50% of all phlebotomists across the country. In medical and diagnostic laboratories, this accounts for over 12% of the total employment. In hospitals, however, this is a much smaller piece of the pie, less than 1%, paling in comparison to all the other hospital employees. Nevertheless, with about 41,000 workers across the country, hospitals actually employ about 10,000 more total workers than laboratories. The salaries do not vary greatly between these locations. However, on average, phlebotomists in medical and diagnostic laboratories can expect to earn $15.70 per hour, compared to $14.99 in hospitals. Another noteworthy employer of phlebotomists are physician offices, accounting for another 10,000 members of the profession nationwide. These workers earn slightly more than those in hospitals, at an average of $15.13 per hour. Ambulatory services account for another 20,000, with similar wages. Regardless, for the vast majority of workers, the effect of industry pales in comparison to the effects of geography and experience level.

A phlebotomist in America can expect to earn a steady income of about $30,000 annually. With 20 years of experience and a job in a medical laboratory in a high paying geographic region such as northern California, they can expect to see this number increase by about $10,000 per year.