Medical Transcription Starting Salary
While the illegibility of doctors' handwriting may be a bit of a joke, working with medical notes and logs is an everyday reality for medical transcriptionists. They have the important responsibility of recording these documents and turning them into permanent files. Before taking a position as a transcriptionist, take a peek at starting salaries.
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Starting Pay
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For medical transcriptionists in their first year of work, hourly wage rates span from $9.62 to $14.45. Taking a look at this data over a full year of work, starting salaries range from $20,105 to $30,828. These ranges come from a PayScale survey of over 700 transcriptionists.
Pay Increases
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If starting salaries aren't lucrative enough, prospective medical transcriptionists should also take a look at how pay increases over time. PayScale shows that after five to nine years of working as a transcriptionist, top average salaries increase by nearly $5,000 per year. Another increase of more than $2,500 occurs for those with 10 to 19 years experience.
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Employer
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Thinking about a position as a medical transcriptionist means not only looking at starting salaries, but also compensation levels from different employer types. PayScale shows that transcriptionists working for traditional hospitals make between $24,703 and $39,641 per year. Average pay is similar for those working for state and local government agencies, whose salary range reaches $40,000. Those working for private companies have average salaries from $18,301 to $34,441.
Pay Trends
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Over a two-year period, Indeed shows that salaries for medical transcriptionists around the country have remained fairly constant. From January 2009 to January 2011, average salaries decreased by only about 1 percent. During this period, salaries reached their peak in Spring 2010, about 5 percent higher than at the beginning of the report.
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References
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