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Does annual pay increase over the years? How do i start?

I am a student trying pursue a career in the medical field #medical #nursing #doctor #medicine


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Misty’s Answer

Hi Dante.

Great question and future planning.

Normally and depending on the field, there is usually always what is called a "cost of living raise". Each year, there are raises to things such as taxes and expenses so most places take this into consideration when doing their fiscal paperwork in order to be able to provide staff with this cost of living raise. In most places, this is either preset by the company or determined by hire date as a yearly raise date. There are other places that have incentives throughout the year that make them able to provide pay raises for employees throughout the year. The best advice here would be to check with the place you are looking to seek employment from and find out how they do their benefits package and what type of raise is included in that.

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Rachel’s Answer

As a physician, annual increase in salary can be highly variable. It depends on whether you work in private practice or in academia. It also depends on your patient population. If you are in private practice and get paid by how many patients you see, then years of experience and developing a reputation in the community will allow for a pay increase. In academia, payment may be based on years working for the institution, research, etc.

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Misty’s Answer

Hi Dante.

Great question and future planning.

Normally and depending on the field, there is usually always what is called a "cost of living raise". Each year, there are raises to things such as taxes and expenses so most places take this into consideration when doing their fiscal paperwork in order to be able to provide staff with this cost of living raise. In most places, this is either preset by the company or determined by hire date as a yearly raise date. There are other places that have incentives throughout the year that make them able to provide pay raises for employees throughout the year. The best advice here would be to check with the place you are looking to seek employment from and find out how they do their benefits package and what type of raise is included in that.

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Amber’s Answer

Hi Dante,

There is potential for an annual raise depending on the organization you work with and cost of living changes. Some hospitals may experience financial difficulties and place pay increases on hold, it just depends, Furthering education can also help increase pay.

I see you are from the El Paso area, and if you are interested in nursing I recommend checking out EPCC or UTEP. Both have great nursing programs, and Las Cruces also NMSU.

Good luck,
Amber

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Richard’s Answer

You'll be paying to go to medical school.However, after medical school, there is three to six years of residency training during which you will be paid about $50,000 to $60,000 per year. After Medical School, Physicians often join a group. They work as employees for a set number of years then buy into the practice and become a Partners. There is a increase in salary that occurs between being an associate and becoming a partner. After that, there is no increase in salary. Wages for physicians are set by Medicare and insurance companies.

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Lisa’s Answer

Yes. Especially is a union hospital. You get an annual experience bonus plus the annual union raise. Usually between 3 and 4,000. Then there is the certification pay, degree pay, differential for evening or night shift and charge pay. It adds up. In NY my hospital starts with a base pay with no experience $85,000

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