How Much Do Sports Medicine Physicians Make?
It is no secret that becoming a physician requires a long and difficult educational journey that often demands eight years or more of schooling and training. And once you have finally completed your schooling and residency, you still may not be finished, as many physicians continue their education with fellowships and other post-residency programs. So given all of this, how much can you expect to earn as a sports medicine physician?
Factors That Affect Salary
Sports medicine physicians’ salaries depend on a variety of factors, such as years of experience, geographic location, type of employer, and this specialty’s practice setting.
The Bureau of Labor Statistics (BLS) reports that the median annual salary for all physicians and surgeons was $208,000 as of May 2018. The lowest 10 percent earned less than $79,540, while the highest 10 percent earned more than $208,000 per year.
Geographical location plays a big role in how much sports medicine physicians make. In general, physicians in rural areas make less than those in urban areas. This is because there are fewer opportunities for employment and higher competition for jobs in urban areas. Additionally, the cost of living is typically higher in urban areas, which can also impact salaries.
The Bureau of Labor Statistics (BLS) reports that the median salary for all physicians and surgeons was $208,000 as of May 2018. However, earnings can vary significantly by specialty and experience level. For example, pediatricians working in general medical and surgical hospitals earn a median salary of $168,230, while those in outpatient care centers earn $156,490. Orthopedic surgeons working in physicians’ offices earn a median salary of $421,120, while those in hospitals earn $368,640.
How to Negotiate Your Salary
Do Your Research
One of the most important aspects of salary negotiations is doing your research beforehand. You need to know what the median salary is for your position in your region so that you can have a target number in mind. There are a number of ways to research salaries, including:
-Asking friends, family, and colleagues what they earn in similar roles
-Checking online job postings to see what employers are offering
-Searching salary databases like Salary.com or Glassdoor.com
Once you have an idea of what the going rate is, you can start thinking about how to negotiate your salary.
Know Your Worth
In order to negotiate your salary, you need to know your worth. Do your research and find out the average salary for someone with your qualifications in your area. Use online resources, talk to people in your network, and consult with a professional if needed. Once you have a good understanding of what you should be earning, you can begin negotiating for a higher salary.
Keep in mind that employers expect you to negotiate, so don’t be afraid to ask for what you deserve. Be prepared to justify your request with data and examples. If the employer isn’t willing to meet your demands, try negotiating for other benefits such as more vacation days or flexible hours. Sometimes non-monetary concessions can be just as valuable as a higher salary.
Negotiating your salary can be an uncomfortable experience, but it’s important to remember that you are in control of the situation. The employer wants to hire you, which gives you a lot of power. use this power to your advantage by being confident and assertive during negotiations.
Here are a few tips to help you be confident when negotiating your salary:
- Do your research: Know what the average salary is for your position in your area. This will give you a good starting point for negotiations.
- Be prepared to answer tough questions: The employer may ask why you deserve a higher salary than they are offering. Be prepared to answer this question by highlighting your skills and experience.
- Stand up for yourself: Don’t be afraid to assertively state your case for why you deserve a higher salary. The employer will respect your confidence and be more likely to give you the salary you want.
What Else Can You Do to Increase Your Salary?
If you want to make more money, you could always get a higher degree or certification in sports medicine. You could also look into other ways of increasing your salary, such as working more hours or taking on more responsibilities. Let’s take a look at some of the ways you can make more money in sports medicine.
Get Board Certified
There are a number of ways you can increase your salary as a doctor. One way is to get board certified. Board certification demonstrates that you have the knowledge and skills required to provide high-quality patient care. It also shows that you are committed to lifelong learning and keeping up with the latest developments in your field.
Board certification is not required for all doctors, but it may be required for certain types of positions, such as hospital staff positions. In some cases, board certification can also lead to higher salaries and bonuses.
Pursue a Fellowship
Pursuing a fellowship is one of the best ways to increase your salary in the field of sports medicine. Fellowships provide advanced training in a particular area of sports medicine, and can often be completed in one to two years. Fellowships can be very competitive, so it is important to have a strong academic record and letters of recommendation. Once you have completed a fellowship, you will be eligible for higher-paying positions and may even be able to open your own practice.
Join a Professional Organization
Most medical and health professions have organizations that members can join to stay current in their field, learn about new developments, share information and resources, and network with other professionals. Members usually must meet certain educational and experience requirements, and they often must pay annual dues. Some organizations offer discounts on liability insurance, conferences, and other resources.