Aging Population Creates Salary Increases in Healthcare Industry

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Despite falling pay increase budgets, salaries are increasing for a number of key healthcare positions.

These predictions were made prior to the economic recession. Salary increases in key positions support this growth, but it remains to be seen if this trend will continue into 2010.

Despite falling pay increase budgets, an aging population continues to create a high demand for healthcare workers in some positions. As a result, pay is increasing for a number of jobs. In particular, salaries are on the rise for nurses, pharmacists, physical therapists, home health aides and occupational therapists.

The 2009 Compensation Data Healthcare results found some healthcare jobs have seen significant increases over the last three years. Occupational and physical therapists have both had increases over 10 percent. Currently, licensed physical therapists make $73,300 a year, a 12.9 percent increase from 2007. Comparatively, occupational therapists have seen their salary increase by 16.9 percent.

Nursing has become one of the most talked about fields in the healthcare industry. Particularly, home health aides and registered nurses are in demand. Home health aides have had a larger salary increase over the last three years. Their salaries have increased by 11.2 percent, but they earn less annually, $24,500. In comparison, salaries for registered nurses have increased by 9.2 percent. Registered nurses’ salaries are $61,300 a year on average. From year to year, increases for nurses have been between $2,000 and $3,000.

Other healthcare positions have seen growth in the last three years. Pay for physicians assistants and pharmacists has grown by 10.6 and 10.5 percent, respectively. Salaries for physicians assistants are $86,400 this year, while pharmacists earn more annually, $108,000.

“Although the U.S. Bureau of Labor Statistics has projected a 21.7 percent increase in total U.S. healthcare employment between 2006 and 2016, it may not come to fruition,” said Amy Kaminski, manager of marketing programs for Compdata Surveys. “These predictions were made prior to the economic recession. Salary increases in key positions support this growth, but it remains to be seen if this trend will continue into 2010.”

About the Survey
Compensation Data Healthcare 2009 contains data on over 200 industry-specific and 200 benchmark job titles ranging from entry-level to top executives. Information was collected from employers across the country. The results provide a comprehensive summary of pay data, benefits information and pay practices with an effective date of January 1, 2009.

Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Data is collected annually from thousands of organizations across the country. Compdata Surveys has been providing accurate and comprehensive data at affordable prices to organizations from coast to coast since 1988. For further information about the compensation and benefits surveys, contact Lane Odle at (800) 300-9570.

For more information, contact:
Lane Odle
Product Marketing Manager
(800) 300-9570

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.

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Lane Odle
Compdata Surveys
800-300-9570
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