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Hopefully you have read
page 1 and page 2 so you know where we are coming from.
Statistics on chiropractor salaries
I have done some of my own
research on the internet to gather more information regarding Chiropractor
Salaries. I came up with a lot of different numbers, none of which offer any
specifics on topics I hope to address. No one is going to have exact data but we
can at least get a range from the info that is available. For example, according
to salary.com, the median expected salary for a typical chiropractor in the
United States is $78,994.
According to data on collegegrad.com, median annual earnings of salaried
chiropractors were $65,330 in 2002 with the middle 50 percent earning between
$44,140 and $102,400 a year.
One website I visited stated that the U.S. Bureau of Labor Statistics estimates
chiropractors earned an average salary of $84,020 in 2004. However, when I
visited the U.S. Department of Labor Bureau of Labor Statistics I found this
information... Median annual earnings of salaried chiropractors were $69,910 in
May 2004. The middle 50 percent earned between $46,710 and $118,280 a year. The
Labor Bureau mentions a chiropractic economics survey from 2005 with a mean
salary for chiropractors at $104,363. If we go back to 2000, the American
Chiropractic Association (ACA) found average income for chiropractors at about
$81,500.
I like the idea of averages, It is a great way to measure anything that is going
on in your practice/life. I have to give credit to Dr. Fred Schofield for really
pushing me to develop the skills to measure averages, in multiple categories, on
a daily basis. Let's average out some numbers from above so we can get a figure
to work with.
78,994 + 65,330 + 84,020 + 69,910 + 104,363 + 81,500 = 484,117
484,117 divided by 6 gives us an average of $80,686.00
We are looking at data over a five year period since we have ACA info from 2000
up to most current data from 2005. I believe the 2005 data is actually reported
incomes from 2004. In a way, having info across a five year span helps us since
we are really interested in averages and don't want to focus on just one year. I
am working to keep this article refreshed with the most accurate data so watch
for updates.
Remember the
three to four different groups I mentioned when we started this
article? Everyone's going to have different thoughts and
opinions. I know there are chiropractors reading this thinking
to themselves wow, I earn two to three times the national
average, I'm a rock star! Others, are wondering why their
earnings are coming in under these estimated averages. To those
of you that are completely new to the idea of being a
chiropractor, understand that these are averages based on past
performances, they don't represent future earning potentials.
As an aside, I
hang out with a lot of successful chiropractors, many of whom
practice on the West Coast, but there's a number scattered
throughout the globe. I cannot think of one that's had take-home
earnings under six figures since they've established their
businesses. Almost all are self-employed and own their
chiropractic business.
Some things we are going to
discuss... (none of these topics are complete)
Chiropractors in solo practice (self-employed chiropractors or those in an
independent practice)
Chiropractors in a group practice
Chiropractors working for others (salaried chiropractors)
Chiropractors located in small communities vs. big cities or metropolitan areas
Chiropractors that do vacation or locum coverage
Geographic imbalances in the distribution of chiropractors - mainly because many
tend to establish practices close to chiropractic schools and colleges
Earnings in the beginning of practice (first five years) vs. increased earnings
as the practice grows
Chiropractors focusing on particular practice models...
Personal Injury Clinics
Workers Compensation Clinics
Cash Only Offices
Insurance dependant Clinics
Straight Chiropractic Offices
DRX9000 or Vax-D Offices
Multi Disciplinary offices (massage, acupuncture, yoga, nutrition, physical
therapy, medical care)
Questions visitors are asking me...
What are the doctors in my area doing?
Is that a doctor working in someone else's office?
Are they in their own office?
Which is better?
Should I associate?
Should I go out on my own?
Should I rent?
Advantages of working for someone...
Learning the ropes
Not paying salaries
Paying less on insurance
Paying less on rent
many others...
Disadvantages...
Paying a percentage on patients
miss out on the benefit of being out on your own
many others...
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