Congratulations on deciding to become a respiratory therapist. You will be very happy to learn that you will have a high salary as an respiratory therapist and that job prospects are growing. According to the Bureau of Labor Statistics (as of May 2010), you can expect to make a mean hourly wage of $26.54 which equates to a mean annual wage of $55,200. The middle 50% makes anywhere from $22.19 to $30.54 for a salary of between $46,160 and $63,520. The bottom 10% makes a $19.22 wage with a salary of $39,990 while the top ten percent make $35.29 with a wage of $73410.
Varying Factors in Determining your Salary
There are several different reasons why salaries differ from one person to another. One major reason is the type of degree you got. Since you are able to be a registered respiratory therapist with just an associate degree, those that went to 4-year universities or have a masters are able to commend a higher wage. These people are also more likely to be promoted to managerial positions which are more prestigious and higher paying. So it might be better to get your 4 year degree if you anticipate in the future that you might want to move up. However, if you can’t afford to get a bachelor’s from the get go, you can just get an associate degree first and also work on your bachelor’s at the same time.
It also varies to what location you are going to work at. As of May 2010, the top average paying states are California at $32.68, Nevada at $32.07, New Jersey at $31.77, Maryland at $31.74, and Connecticut at $31.02. More metropolitan areas tend to earn more as well.
It also depends on what sector you are in. If you decide to teach it, you will be earning on average $31.95 with a salary of $66,450, but you will need to have at least a 4 year degree if not a masters. You will also earn more if you were to work for a government hospital which pays $30.26 with a salary of $62,940. Also, just as with anything else, the more experience you have the higher salary you will be paid.
Future Growth
The job opportunities will be good for those that choose to start a career in this field. The employment amount is expected to grow by 20% by 2018, which is significantly faster than most other occupations. This has to do with the fact of the baby boom generation becoming older and the growing amounts of cardiopulmonary disease, thus increasing the demand of these therapists in the future. It is also due to the growing role of respiratory therapist’s in disease prevention and early detection of pulmonary disorders. Most of these jobs are expected to be in hospitals and it will be relatively easy to be hired.
Non Monetary Benefits
There is an also additional benefit of the job that doesn’t have to do with monetary items. You will be working with people that you will be able to help. If you choose to become a respirator therapist, you will not only be earning a decent living but also provide social value to the world.
You can learn more about being an respiratory therapist by click here.