With growing opportunities in the health IT job market, contract negotiations are going to be critical for recruiting and retaining new talent.
Here are six statistics on salary and compensation in health IT, according to the latest study from staffing agency Greythorn.
1. The survey collected responses from 430 IT professionals across the country. Of those in full-time positions, there were credentialed trainers (4 percent), project managers (6 percent), director or above (11 percent), managers and supervisors (14 percent) and builders and analysts (45 percent).
2. When asked about current basic salary, 21 percent said it was between $100,000 and $119,999. Twenty percent said their basic salary was between $50,000 and $69,999. The majority of salaries fell between these two ranges. Just 6 percent of respondents said their salaries exceeded $160,000.
3. The majority of respondents said they expect a salary increase within the next year in their current role, with 44 percent saying they expect at least a 3 percent increase. Thirty-eight percent expect an increase between 3 percent and 10 percent. Four percent expect an increase more than 20 percent. Twelve percent said they do not expect a salary increase.
4. A salary gap between men and women persists. While the median salary range for both male and female respondents is between $80,000 and $89,999, 4.6 percent of women said they make less than $50,000 per year, while just 1.6 percent of men said the same. And, 8.2 percent of men said they receive an income higher than $160,000, while just 1.5 percent of women said the same.
5. The majority of respondents (60 percent) said they did not receive a bonus of any kind in 2015. Thirty percent said they received a performance-based bonus, 5 percent received a sign-on bonus and 4 percent received a retention bonus.
6. The majority of bonuses (52 percent) were no more than 5 percent of respondents' base salary, while 18 percent of respondents reported a bonus that was between 6 and 10 percent of their base salary.
More articles on health IT:
IBM to acquire Truven Health Analytics for $2.6B
What hospitals can learn from Hollywood Presbyterian's ransomware run-in
20 hospitals, health systems seeking Cerner, MEDITECH, Epic talent