Health IT pros: Think your salary should be higher?
Experience, age, job type, gender and many other factors decide how much workers are paid in the healthcare information technology sector, according to new research.
The results of HealthITJobs.com’s third annual report, in fact, show that while the average salary is more than $93,000, many health IT workers are expecting bigger pay. And women continue to earn less than men.
The 2016 Health IT Salary Report pegs the average health IT salary at $93,469 and the average bonus earned is $7,603.
“As the healthcare industry and technology continue to evolve, health IT professionals will be in higher demand,” HealthITJobs.com vice president Tim Cannon said in a statement. “Because these professionals bring such value to organizations, employers are willing to provide desirable compensation packages to attract and keep the best talent in the field.”
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The survey analyzed data collected from 802 professionals currently or recently working in health IT. It breaks down salary by job function, experience, company type, and other factors.
Six key findings from the survey:
1. Salaries in health IT are high — but professionals want more. Although 51 percent of respondents said they are satisfied or very satisfied with their salary, the average gap between what they are making and what they feel they should be making is $15,553.
2. Executives earn the most. Executives reported the highest average health IT salaries at $171,341 plus an average bonus of $27,500. Executives accounted for just 2.5 percent of all respondents.
3. Consulting companies pay the highest rates. Consulting companies employ 30 percent of respondents and pay nearly 14 percent more than the second highest paying employer: software companies. The most common type of employer, reported by 51 percent of respondents, was hospital and healthcare organizations. On average, professionals who work in these organizations earn $86,321 a year.
4. Niche experience pays off. Professionals who have worked exclusively in health IT typically earn more than those who have also worked in other industries. Regardless of the type of experience, salaries go up each year.
5. There’s still a gender gap. Although last year’s report found that women and men earned similar salaries, the data from this year found that men earn 14 percent more than women in health IT. Moreover, men are three times more likely to hold executive job titles and are more likely to hold higher paying jobs than women.
6. Most professionals are satisfied with their job. Among respondents, 79 percent are very satisfied or satisfied with their current job. Yet, 40 percent said they will likely change jobs in the next year.
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