Search a title or topic

Over 20 million podcasts, powered by 

Player FM logo
Artwork

Content provided by Defocus Media Podcast Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Defocus Media Podcast Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Player FM - Podcast App
Go offline with the Player FM app!

Optometry Salary Breakdown: Regional Pay, Wage Gap & More

24:47
 
Share
 

Manage episode 479598106 series 2574435
Content provided by Defocus Media Podcast Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Defocus Media Podcast Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

The conversation around salary in optometry is more than just a number—it’s a reflection of value, negotiation, and growth within the profession. In this episode of “Lunch Date with Rachel and Kate,” the hosts dive into a data-driven discussion on optometry salaries, highlighting key findings from three major sources: Eyes on Eyecare, Review of Optometry, and ODs on Finance. This article unpacks their discussion, offering eye care professionals a comprehensive view of current salary trends, regional variations, wage gaps, and practical takeaways.

Eye Care

Eyes on Eyecare: A Look at New Grad Starting Salaries

According to Eyes on Eyecare, the average starting salary for 2024 optometry graduates is $97,112. This figure, while informative, includes a broad range of values, potentially skewed by residents earning as low as $30,000. The survey gathered data from 375 optometrists, with respondents ranging from graduates in 1972 through 2023.

"We advise that you don't want to aim for $97,000 when you're negotiating just because Eyes on Eyecare told you to. You want to aim a little higher than that." – Dr. Kate Hamm

The report also noted a current average salary of $151,970 across all respondents. However, the data did not differentiate between practice owners and employed optometrists or account for full-time versus part-time work schedules.

Review of Optometry: What the Data Suggests

Review of Optometry presents a more nuanced picture but also has limitations. With 422 respondents, this report includes both part-time and full-time optometrists. It cites an employed average salary of $156,819, closely aligning with Eyes on Eyecare.

For optometrists in their first 10 years of practice, the reported average is a significantly higher $176,857. The report also highlights an income disparity by gender, though it does not delve into causative factors such as part-time work or career breaks.

"They're presenting the information in like, not the most nuanced way. They're just like, women said this, men said that." – Dr. Rachel Simpson

Satisfaction levels were surprisingly high, with many optometrists expressing contentment with their income despite the wage disparities.

ODs on Finance: Normalized Data and Deeper Insight

With 2,203 respondents, the ODs on Finance survey offers the most comprehensive and methodologically robust data. It normalizes salary based on average workdays (4.22/week), revealing a more realistic average salary of $136,619.

The average for optometrists within their first five years of practice stands at $152,097, aligning with the other studies. ODs on Finance also includes median income ($155,000) and a breakdown of salaries by region and optometry school.

"These are like real numbers... This is probably the most realistic if you go to the Bureau of Labor Statistics." – Dr. Kate Hamm

The Optometry Wage Gap: What’s Behind It?

One of the standout contributions from ODs on Finance is their analysis of the wage gap. They discovered a 13.5% salary difference between male and female optometrists, even after accounting for factors like practice ownership and part-time work.

"This wage gap exists with the initial job offer is what we found. And I would love for ODs on Finance to find out what men and women are being offered." – Dr. Rachel Simpson

Multiple variables affect an optometrist’s salary:

This insight underscores the need for transparency in starting offers and the role of negotiation in closing wage disparities.

Factors That Impact Salary: From Region to Practice Ownership

  • Geography: Salaries vary dramatically by region. For instance, while West Virginia had one of the lowest salaries in ODs on Finance, it appeared in a high-earning region in another dataset.
  • Practice Ownership: Owners tend to earn significantly more. Review of Optometry reported practice owners average $243,000 compared to $156,000 for employed optometrists.
  • Workload: Salaries differ based on days worked, CE benefits, and additional perks like bonuses and flexible schedules.

Actionable Steps for Negotiation and Career Growth

Eye care professionals can use these insights to take control of their earnings:

  • Normalize your own salary data based on your workdays.
  • Leverage multiple sources (ODs on Finance, BLS, Eyes on Eyecare) for regional data.
  • Advocate for yourself during salary negotiations, especially with starting offers.
  • Explore ownership opportunities if long-term income growth is a goal.
"I look at that number... And to me, that's still a gigantic number. That's so much money. You deserve more than that, but it is a ton of money." – Dr. Rachel Simpson

Final Takeaways and Call to Action

The optometry salary landscape is complex but not impenetrable. With the right data, mindset, and strategy, every professional can make informed decisions and advocate for equitable compensation.

Want more insights like this? Subscribe to the Defocus Media newsletter or explore our full library of podcast episodes. Knowledge is power—use it to grow.

  continue reading

18 episodes

Artwork
iconShare
 
Manage episode 479598106 series 2574435
Content provided by Defocus Media Podcast Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Defocus Media Podcast Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

The conversation around salary in optometry is more than just a number—it’s a reflection of value, negotiation, and growth within the profession. In this episode of “Lunch Date with Rachel and Kate,” the hosts dive into a data-driven discussion on optometry salaries, highlighting key findings from three major sources: Eyes on Eyecare, Review of Optometry, and ODs on Finance. This article unpacks their discussion, offering eye care professionals a comprehensive view of current salary trends, regional variations, wage gaps, and practical takeaways.

Eye Care

Eyes on Eyecare: A Look at New Grad Starting Salaries

According to Eyes on Eyecare, the average starting salary for 2024 optometry graduates is $97,112. This figure, while informative, includes a broad range of values, potentially skewed by residents earning as low as $30,000. The survey gathered data from 375 optometrists, with respondents ranging from graduates in 1972 through 2023.

"We advise that you don't want to aim for $97,000 when you're negotiating just because Eyes on Eyecare told you to. You want to aim a little higher than that." – Dr. Kate Hamm

The report also noted a current average salary of $151,970 across all respondents. However, the data did not differentiate between practice owners and employed optometrists or account for full-time versus part-time work schedules.

Review of Optometry: What the Data Suggests

Review of Optometry presents a more nuanced picture but also has limitations. With 422 respondents, this report includes both part-time and full-time optometrists. It cites an employed average salary of $156,819, closely aligning with Eyes on Eyecare.

For optometrists in their first 10 years of practice, the reported average is a significantly higher $176,857. The report also highlights an income disparity by gender, though it does not delve into causative factors such as part-time work or career breaks.

"They're presenting the information in like, not the most nuanced way. They're just like, women said this, men said that." – Dr. Rachel Simpson

Satisfaction levels were surprisingly high, with many optometrists expressing contentment with their income despite the wage disparities.

ODs on Finance: Normalized Data and Deeper Insight

With 2,203 respondents, the ODs on Finance survey offers the most comprehensive and methodologically robust data. It normalizes salary based on average workdays (4.22/week), revealing a more realistic average salary of $136,619.

The average for optometrists within their first five years of practice stands at $152,097, aligning with the other studies. ODs on Finance also includes median income ($155,000) and a breakdown of salaries by region and optometry school.

"These are like real numbers... This is probably the most realistic if you go to the Bureau of Labor Statistics." – Dr. Kate Hamm

The Optometry Wage Gap: What’s Behind It?

One of the standout contributions from ODs on Finance is their analysis of the wage gap. They discovered a 13.5% salary difference between male and female optometrists, even after accounting for factors like practice ownership and part-time work.

"This wage gap exists with the initial job offer is what we found. And I would love for ODs on Finance to find out what men and women are being offered." – Dr. Rachel Simpson

Multiple variables affect an optometrist’s salary:

This insight underscores the need for transparency in starting offers and the role of negotiation in closing wage disparities.

Factors That Impact Salary: From Region to Practice Ownership

  • Geography: Salaries vary dramatically by region. For instance, while West Virginia had one of the lowest salaries in ODs on Finance, it appeared in a high-earning region in another dataset.
  • Practice Ownership: Owners tend to earn significantly more. Review of Optometry reported practice owners average $243,000 compared to $156,000 for employed optometrists.
  • Workload: Salaries differ based on days worked, CE benefits, and additional perks like bonuses and flexible schedules.

Actionable Steps for Negotiation and Career Growth

Eye care professionals can use these insights to take control of their earnings:

  • Normalize your own salary data based on your workdays.
  • Leverage multiple sources (ODs on Finance, BLS, Eyes on Eyecare) for regional data.
  • Advocate for yourself during salary negotiations, especially with starting offers.
  • Explore ownership opportunities if long-term income growth is a goal.
"I look at that number... And to me, that's still a gigantic number. That's so much money. You deserve more than that, but it is a ton of money." – Dr. Rachel Simpson

Final Takeaways and Call to Action

The optometry salary landscape is complex but not impenetrable. With the right data, mindset, and strategy, every professional can make informed decisions and advocate for equitable compensation.

Want more insights like this? Subscribe to the Defocus Media newsletter or explore our full library of podcast episodes. Knowledge is power—use it to grow.

  continue reading

18 episodes

All episodes

×
 
Loading …

Welcome to Player FM!

Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.

 

Listen to this show while you explore
Play