CVTs, RNs report higher wages in 2017
A national survey of cardiovascular professionals in Cath, EP and combo labs showed strong wage growth for Cardiovascular Technologists and Registered Nurses from 2015 to 2017.
National average hourly wages reported by CVTs and RNs grew significantly—from $30.81 to $33.16 and from $36.64 to $39.57, respectively—while average wages for Radiologic Technologists regressed from their 2015 highs—from $36.13 to $34.61—according to the 2017 CATH/IR/EP Wage Survey presented by SpringBoard Healthcare.
"While each licensure all had moderate wage growth between 2011 and 2013, in 2015 the trends of the different licensures diverged," reads the SpringBoard report. "RNs and CVTs actually decreased in 2015, while RTs had very strong growth (almost 6%); however, in 2017 that trend reversed as RNs and CVTs had extremely strong growth (almost 10%) while RT compensation decreased."
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Over the period SpringBoard has surveyed wage trends for Cath/IR/EP professionals—2011 to 2017—CVTs have shown the strongest wage growth "by a large margin" compared to RNs and RTs in the West, Northeast and South regions.
Table: Wage Growth Rates by License & Region, 2011-2017
It is important to caution that these are basic averages which do not account for significant variables that might influence wages. In other words, we do not have all the data and analysis which might suggest that higher wages for one license reflect an older demographic with more experience or education.
License, years of experience, geographic factors like region and market type, institution type, and educational attainment are all factors which influence average wages, and they are all important to understand in answering the question of this blog—are you paid enough?
Significant wage growth for RNs in cardiovascular care likely results from a higher percentage of RNs earning Bachelor of Science degrees, for example. 36 percent of respondents reported having earned their BSN in 2017 compared to 28 percent in 2015.
Wages are also affected strongly by simple market forces of supply and demand—if a hospital needs to hire both a CVT and an RT, for example, and there is a much greater supply of qualified CVT candidates than qualified RT candidates, then the RT candidate may end up getting paid more to ensure that the hospital fills the position—this influence would be better reflected in complete demographic state-by-state data.
Not accounting for these variables in snapshot, summary data, we shouldn't read too deeply into these basic averages in the short term or at an individual level.
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To answer the question, "Are you paid enough?" you have to ask—and answer—a more comprehensive question: "Does my current wage reflect what someone with my experience & education should earn in my region, market and institution type?"
And to answer that question—we need more information. ACVP can help.
The Alliance of Cardiovascular Professionals is the most connected network of cardiovascular professionals and can provide detailed non-biased analysis of demographics and wage information in cardiac care. This information can help you, our members and friends.
If you are a cardiovascular professional, please take ACVP's comprehensive demographic and wage survey by June 30, 2017.
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