Since I have been traveling the last year or so, I have been in a few different places around the country and have started to see a trend in new grad salaries…They suck.
As I mentioned, I started out of school making $71,000 and this felt like I wasn’t getting compensated nearly enough for my level of education or my contribution to the company. Any healthcare provider knows how much money they are making the clinic for every service they provide. They also know how much they are receiving in return for their skill to provide said service. The difference between those numbers gives me chills.
Anyways, $71,000 is on the higher end of new grad starting salaries but what I found as I begun traveling was just how high end this number ended up being. I was actually shocked at what some of my colleagues were making who had the same degree as me, the same level of experience and the same passion for what they did.
How low are we talking??
I’m talking mid to high $50,000’s in Boston… Now look up the cost of living and the price of PT school in Boston and tell me how someone with $250,000 (if not more) in debt is going to afford to live and work on $57,000. I’m not saying you can’t do it, I’m just congratulating you in advance on your 50 years of service plaque that you’ll proudly get to hang on your wall some day.
Many of these hospitals and companies will hide behind their continuing education as a way to justify their low wages. We will pay for $2,000 per year in any con ed as long as it’s something that benefits this clinic and you make sure to then teach our other therapists everything you learn.
No thanks…how about you just pay me an average PT salary. I’ll spend $2,000 on con ed myself and still have an extra 10K per year to pay off my debt.
Setting a Low Bar
Some of this is on healthcare providers too, when we accept these rates, it further justifies it to these large companies that it’s okay to low ball us. By accepting those positions, it’s actually hurting your fellow colleagues.
I get supply and demand as well. Yes, the East coast is pumping out more health care professionals than back home in Minnesota. I also get that the East coast tends to be a more desirable place to live and work (these people clearly haven’t been to MN). So this does create more competition which in turn lowers income.
But it shouldn’t be lowering it to that extent. And as healthcare providers, we shouldn’t let it. We need to value ourselves more than this.
“That’s just a starting rate, it will get better”
Will it though?? Let’s say you were in Boston like my coworkers and settled on your $57,000 salary. You now set the bar for yourself. You will get your 1-2% raise every year like everyone else, but what does that actually equate to. Well let’s find out.
Let’s assume a 2% raise every year for good performance (the exact same raise you’ll get for busting your ass all year long and your colleague Steve will get who just skates by).
With these numbers, it would take you over 11 years just to make $71,000. The same amount as what my starting salary was in MN. 11 YEARS…Let that sink in. You aren’t even keeping up with inflation at this point…
“I’ll just renegotiate my salary in a few years”
One of my colleagues I had while I was traveling was becoming a fellow. They were making $58,000 per year…as a future fellow… They would have the highest education level in physical therapy and were making $58,000. During the time I was there, this person got to the point where they had to threaten to leave before they would renegotiate their salary.
They finally agreed after this threat to walk. They settled on $70,000…
We are shooting ourselves in the foot by accepting these low wages out of school. This starting salary now becomes your negotiating piece from now until when you retire.
This is why so many new physical therapists show no loyalty to their employers any more, because changing jobs is the only way to increase ones wages past the sad 1-2%. But damn Millenials! Right?
Solution
Why not start your career with traveling healthcare? You now get to start your career making the most you will probably ever make as a healthcare provider. And in the process, you get to gain experience, improve your skills and resume.
So now, when you eventually go and get a full time job. You’ll be negotiating for a much higher starting salary due to your experience without having to go through the low ball wage years that all of your classmates did. You’ll probably negotiate a salary higher than what any of them are making at that point anyways.
And the bonus is that you have that much more debt paid off or more money saved up due to the increased wages of traveling healthcare.
Conclusion
Always know your worth, regardless of whether you decide to travel or not. Show your employer the value you bring to the clinic and don’t settle on a number that devalues the work that you have put in. As soon as you allow yourself to be devalued, it justifies this practice to the employer and the thought starts to creep into your own head that this is all you are worth.
We went to school long enough, and we deserve to be compensated for it. Traveling healthcare just helps us to even the playing field.
What do you think? Do you feel like you are getting paid for your worth?
As always, comment below with any questions or if you have any specific questions or want to get in touch with my recruiter, feel free to comment here.
