How to Develop an Accurate Phlebotomist Salary Projection

The phlebotomy profession is an excellent entry-level healthcare career that is expected to grow rapidly over the next several years due to an aging Baby Boomer generation, the growing population, and the recent expansion of medical coverage to millions of uninsured Americans. For those who are unfamiliar with the role of the phlebotomist, they are the providers that collect blood samples for medical analysis. Those employed in this profession can be found working in just about every type of healthcare facility including hospitals, urgent care centers, physician offices, long-term care organizations, and much more. Individuals who plan to pursue this career path can develop an accurate salary projection by accounting for a few different factors that have a dramatic impact on earning potential in most industries.

One of the most important considerations for assessing earning potential is geographic location. Federal employment statistics have shown that states characterized by heavy population densities tend to pay employees more in order to attract qualified applicants and to ameliorate some of the financial burdens associated with a higher cost of living. In general, a phlebotomist can expect to receive a better salary in Coastal states and within metropolitan areas. Individuals who live in Midwestern states or in rural areas may have fewer employment options to choose from and may be forced to accept a position that pays less than they would hope. Those who want to maximize their earning power are encouraged to take some time to consider relocating to a region where their services are in greater demand.

Aside from geographic location, an individual who wishes to maximize their salary as a phlebotomy technician is well-advised to consider the affect that formal education, training, and certification can have on one’s earning potential. While most states in the US have no official governmental regulations that require a phlebotomist to become licensed or certified, several employers offer a higher compensation package to applicants who have demonstrated competence through the acquisition of credentials. They do this because individuals who have been trained and certified are less likely to consume as many resources during the orientation process and are less prone to making errors. Applicants who have several years of experience may be able to use their past employment as a substitute for formal credentials, but those who are new to the profession should anticipate a lower salary starting out.

According to the Bureau of Labor Statistics, the average phlebotomist in the US earns around $30,000 per year. The lowest 10% of earners took home less than $22,000 per year while the top 10% of earners received over $42,000 per year. Although the level of compensation is heavily dependent on the factors outlined above, there are several other elements that can come into play. For example, some people choose to seek part-time employment rather than full-time employment in order to devote time to other aspects of their lives. Naturally, someone who works fewer hours per week can expect to be paid less than someone who works forty or more hours each week. In addition, smaller organizations may not have the financial resources to compensate individuals as well as larger organizations. Those who are unable to secure employment in a large facility may have to settle for a lower phlebotomist salary.

The phlebotomy profession is a very rewarding employment opportunity for those who want to provide patient care without having to commit several years to college education, specialized training, and rigorous licensing exams. Before seeking employment, one should take some time to learn about how the phlebotomy procedure is performed. A detailed understanding of the process will help readers decide if this is the appropriate career path for them. It will also help reaffirm their commitment to the profession and will demonstrate to employers that an individual is passionate about providing care to others.