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