The healthcare industry has been growing for the last several decades, and it remains one of the top-earning fields with continuous projected growth.
In March of 2020, the entire world watched as the COVID-19 pandemic took hold of the globe, and this only served to increase the demand for healthcare workers amid a spreading global pandemic. And while the world is just now beginning to catch its breath from dealing with COVID-19, the demand for healthcare workers is still on the rise, as are many healthcare salaries.
Entering the medical field requires a significant investment in time spent pursuing education. But the reward for taking a lengthy educational path leads to higher than average salaries across the board.
In this post, we’ll explore the projected salaries of a few top healthcare workforce professions, and their roles going forward into 2022.
General Practitioner
General Practitioners are medical doctors who are often referred to as family doctors, internists, or general health specialists. But what you can earn as a general practitioner is often dictated by a few different factors.
First, as a general practitioner, you have to choose how you’re going to operate as a physician. For example, many general practice doctors are self-employed and operate out of their own clinics. Other general practice doctors work in larger healthcare facilities and clinics, so their salaries are often dictated by the company they work for.
On average, a general practitioner can earn anywhere from $185,000 per year to $240,000 per year. The median base salary is, however, approximately $220,000 per year but this is projected to grow by as much as 10 percent over the next 7 years.
It should also be noted that your geographic location will always influence your salary as a general practitioner. Basically, those operating in larger cities such as New York City or Los Angeles tend to earn much larger annual salaries than general practice doctors in states such as North or South Dakota, and in most southern states.
Physician’s Assistants
Good news for those who wish to avoid a much lengthier education and training period. As a Physician’s Assistant (PA), you’ll have less time in school and still be able to bring home a handsome annual income. Learn how to become a PA by checking the online PA curriculum of My PA Resource.
Medical doctors can spend as long as 15 years in school and training in some cases, whereas a PA can earn their credentials in less than 8 years on average.
Physician’s Assistants can also perform many of the same functions as a medical doctor including diagnosing illnesses along with prescribing medications and treatment regimens. In addition, the current acreage salary for a PA is around $115,000 per year.
And the projected job growth for PAs is much higher than that of general practice doctors, with an expected job growth of over 31 percent between 2020 and 2030.
Registered Nurse
Nurses are the workhorses of the healthcare industry, and they make up over 60 percent of the healthcare workforce. In fact, after the rise of COVID-19, the demand for nurses became even higher than in the entire decade prior to 2020.
A Registered Nurse (RN) requires at least a 2-year degree and the completion of nursing training requirements. However, most healthcare providers prefer that a RN have a Bachelor’s of Science in Nursing. Additionally, having a 4-year degree gives a RN more earning power and prospects within the current job market.
As of 2021, the average annual salary for a RN is around $75,000 per year, with many earning even more due to the high demand for nurses and calculated overtime. In addition, the projected growth over the next year is expected to remain around 9 to 10 percent.
The healthcare industry is always in need of qualified job candidates as this industry is seemingly in perpetual growth. But the educational requirements to make the higher salaries remain a lengthy process, the highest of which take over a decade to complete.