The healthcare industry is expected to add approximately five million jobs by 2022, according to the Health eCareers Salary Guide: 2015 Edition.
Here are eight things to know about healthcare job market and employee pay.
1. The healthcare industry is currently a job seeker's market. The majority of job seekers, 86 percent, are confident they will be able to find a favorable position within the next year.
2. Physicians and surgeons earn an average salary of $249,353. Other top earners include:
• Executives: $154,573
• Physician assistant: $101, 528
• Nurse practitioner: $95,531
• Health IT professional: $89,247
3. Nearly half of the survey's respondents reported their income remained roughly the same as last year, while 38 percent of respondents said their compensation is higher than a year ago. Just 14 percent of respondents reported having lower compensation than a year ago.
4. The top reasons for receiving an increase in compensation included:
• Change in employer: 26 percent
• A merit raise: 25 percent
• Mandated company-wide pay increase: 17 percent
• Performance bonus: 7 percent
• Internal promotion: 7 percent
• Change in positions with the same employer: 4 percent
• Worked more overtime: 3 percent
• Sign-on bonus: 1 percent
• Other: 11 percent
5. In a job seekers' market, employers need to consider what attracts and retains employees. The survey's respondents reported their top motivators and incentives as:
• Flexible work hours: 24 percent
• Increased compensation: 17 percent
• Vacation or paid time off: 15 percent
• Training or certification courses: 15 percent
• More interesting or challenging duties: 9 percent
• Flexible work location or telecommuting options: 7 percent
• High-level recognition: 6 percent
• Stock options or equity: 5 percent
• Promotion or new title: 4 percent
6. A third of healthcare workers, 33 percent, are somewhat satisfied with their salaries, while just 12 percent are very satisfied. On the other hand, 18 percent of workers are very dissatisfied with their compensation, while 23 percent are somewhat dissatisfied.
7. The top cause for salary dissatisfaction was due to compensation being below average for similar jobs in the region. Other top reasons for dissatisfaction include:
• Salary does not reflect years of experience: 25 percent
• Position requires extra hours that are not compensated: 11 percent
• Infrequent or minimal raises: 11 percent
• Paid less than co-workers: 9 percent
• Position is too physically demanding: 5 percent
• Lack of recognition: 5 percent
• Other: 6 percent
8. Salary issues top the list of employee concerns for 2015, but it is just one of several top-of-mind issues. The top 13 concerns for 2015 include:
• Low or no raises: 42 percent
• Increased workload or patient volume: 33 percent
• Staff morale: 22 percent
• Finding a new position commensurate with skill set: 21 percent
• Keeping skills and certifications up-to-date: 15 percent
• Company stability or performance: 13 percent
• Position being eliminated: 12 percent
• Age discrimination: 9 percent
• Less work available: 6 percent
• New influx of workers competing for the same positions: 6 percent
• Additional educational requirements to maintain job: 6 percent
• Introduction of new healthcare technologies: 4 percent
• Position relocation: 3 percent