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Cath Lab Wage Survey
2015
Presented by:
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
SpringBoard | Introduction 2
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Contents
Introduction ............................................................................................................................................3
Remuneration.........................................................................................................................................4
Certifications...........................................................................................................................................6
Experience, Educational Qualifications and Managerial Roles...............................................................9
Institutional Factors..............................................................................................................................10
Salaried Staff.........................................................................................................................................11
Conclusion.............................................................................................................................................11
SpringBoard | Introduction 3
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Introduction
Since 2011, SpringBoard Inc. has conducted the Cath Lab Wage Survey, an industry wide survey that
aims to gather comprehensive insight into the salaries & wages, responsibilities and backgrounds of
professionals working in the sector. The survey responses for 2015 as in previous years were drawn
from Cardiac Catheterization, Interventional Radiology and Electrophysiology specialists working
within the United States in diverse roles including Directors, Managers, Nurses and Technologists.
The Cath Lab Wage Survey now provides the most accurate picture of how the industry looks on the
ground, from those people working day-to-day in Cardiac Catheterization Laboratories.
This report presents some of the interesting findings that were obtained from the 2015 survey and
also discusses how these findings compare with results obtained from an earlier survey that
Springboard conducted in 2013. SpringBoard wishes to thank all the clinical professionals and
industry associations that have continually supported the survey.
SpringBoard | Remuneration 4
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Remuneration
The remuneration data was divided into two main categories - Travel and non-travelling Staff. As
shown in the chart above, the average wage for travelling workers was significantly higher than that
of non-travelling staff. Factors that affected pay for travelling staff included the location of the
assignment (vacation destinations tend to be more competitive and therefore able to find willing
applicants for less), demand for the position, local cost of living and the type of Cath Lab specialty
being sought.
Wage Comparison of Travel vs Staff by Licensure in the West
Wage Comparison of Travel vs Staff by Licensure in the Northeast
$42.97
$49.50
$42.15
$51.88
$36.53
$37.69
$30.00
$32.50
$35.00
$37.50
$40.00
$42.50
$45.00
$47.50
$50.00
$52.50
$55.00
Staff Travel Staff Travel Staff Travel
RN RT CVT
$36.87
$48.96
$36.81
$68.00
$31.43
$38.00
$20
$25
$30
$35
$40
$45
$50
$55
$60
$65
$70
$75
Staff Travel Staff Travel Staff Travel
RN RT CVT
SpringBoard | Remuneration 5
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Wage Comparison of Travel vs Staff by Licensure in the Midwest
Wage Comparison of Travel vs Staff by Licensure in the South
By looking at the charts above, one can easily observe that the West and the Northeast offer higher
compensation for all Cath Lab workers as compared to the South. This could be attributed to the
difference in cost of living between the two regions as well as a shortage of Cath Lab professionals
thus leading to higher value opportunities. Additionally, the portability of licensures plays a part in
the shortage of Cath lab workers and consequently, the increase in compensation.
The geographic market of the workers carried some weight in determining how much they earn. As
in previous years, the professionals working in a greater metropolitan areas earned the highest
followed by urban workers, suburban workers and finally, rural workers. Again, a mitigating factor in
the difference in wages across geographic markets could be attributable to the lower cost of living in
suburban and rural areas.
$34.29
$47.20
$32.11
$51.17
$29.14
$39.36
$10
$15
$20
$25
$30
$35
$40
$45
$50
$55
$60
Staff Travel Staff Travel Staff Travel
RN RT CVT
$32.67
$43.42
$32.40
$44.00
$28.54
$34.81
$15
$20
$25
$30
$35
$40
$45
$50
$55
Staff Travel Staff Travel Staff Travel
RN RT CVT
SpringBoard | Remuneration 6
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Average Wage per Geographic Market
$32.40
$33.84 $33.84
$34.37
$31.00
$31.50
$32.00
$32.50
$33.00
$33.50
$34.00
$34.50
$35.00
Rural Suburban Urban Greater metropolitan
area
SpringBoard | Certifications 7
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Certifications
The 2015 Cath Lab Wage Survey also sought to investigate if a direct relationship exists between
earnings and credentials. We observed that some credentials were more valuable than others. For
example, the average wage of those RNs with the CCRN credential was $44.99, which is considerably
higher than RNs with other credentials. Additionally, we observed a significant increase in the RCES
credential as Electrophysiology becomes more prominent. One can therefore conclude that
choosing the right credential is critical when pursuing higher value opportunities.
Value of Credentials on Average Wage
Data from the survey shows that employers value credentials as 63% of the respondents stated that
their employer reimbursed for credentials while 30% said they got a pay increase after getting
credentialed. CCI - (RCIS) was the most popular credential with 65% of the respondents having it.
$31.12$30.62
$32.38
$38.21
$34.63$35.41
$44.99
$36.87
$35.62$36.13
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
$35.00
$40.00
$45.00
$50.00
NoCredential
RCIS
RCES
NoCredential
RCIS
RCES
CCRN
NoCredential
ARRT(R)
RCIS
CVT RN RT(R)
% who got reimbursed % who received a pay rise
NO, 37%
YES,
63%
NO,
70%
YES,
30%
SpringBoard | Certifications 8
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Average Wage EP Vs Cath Vs Combo
It was also observed that RNs working in Combo labs on average earned higher than those working
in EP and Cath Labs while RTs working in Cath labs on average earned higher than those working in
EP and Combo Labs. CVTs working in EP labs on average earned higher than those working in Cath
and Combo Labs. This is a good indicator of skills demand across the different types of labs.
Additionally, this could be an indicator of the different roles RNs and Technologists play in the EP lab
vs. cath lab or interventional radiology.
$35.25
$37.32 $37.06 $37.45 $36.53
$32.37
$29.40
$31.36 $31.39
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
$35.00
$40.00
Cath Combo EP Cath Combo EP Cath Combo EP
RN RT CVT
SpringBoard | Experience, Educational Qualifications and Managerial Roles 9
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Experience, Educational Qualifications and Managerial Roles
A key driver of the Springboard’s Cath Lab survey has been to develop a clear understanding of how
factors like experience, work status and managerial roles impact the wage a Cath Lab employee
receives. As in the previous years, a direct relationship was observed to exist between how much
employees earn and the amount of experience they have. Annual wage increments coupled with
wage increases that come with getting credentialed often result in higher wages for longer serving
employees as shown in the graph below.
Average Wage vs. Years of Experience
Another observation we made from the analysis is that most of the respondents in management
roles were compensated with monthly salaries rather than hourly wages. From the table below, you
will note that 89% of Directors were on a monthly salary compared to just 2.8% of those with staff
roles.
Hourly Salary
Director 10.8% 89.2%
Manager 30.1% 69.9%
Supervisor 88.0% 12.0%
Staff 97.2% 2.8%
Another factor that was considered in the 2015 survey was the level of education. 44.5% of the
respondents had an Associate Degree, 28% had a Baccalaureate Degree in Nursing, 10.3% had a
Certificate, 5.2% had a Master of Science Degree, 2.4% a Doctoral Degree while 9.6% received On-
the-Job Training. Most of those with Master of Science and Doctoral degrees were in senior
management roles and were thus earning monthly salaries.
$25.30
$28.53
$33.32
$36.53
0%
13%
32%
44%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
$35.00
$40.00
Less than 1 year 1-5 years 6-10 years 10+ years
Average Hourly Rate % Increase
SpringBoard | Institutional Factors 10
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Institutional Factors
Our research suggests that Cath Lab workers in Academic/Teaching institutions are likely to earn
much higher than those working for a Private Practice. Hospitals are the largest employers with over
83% of respondents working in Hospitals while respondents working for Vendors/Industry
institutions represent less than 1% of the 2015 survey sample.
Type of Hospital Average Wage Count %
Academic/Teaching (Ex: a university hospital) $34.60 210 12.1%
Government/Military $32.42 41 2.4%
Hospital Based $33.50 1455 83.5%
Private Practice $28.81 22 1.3%
Vendor/Industry $33.40 14 0.8%
Grand Total 1742 100%
It was observed from the 2015 survey that institutions with higher bed capacity were generally able
to pay higher wages on average as compared to those with lower bed capacity as illustrated in the
graph below.
Average Wage vs. Number of Beds
$27.67
$31.18
$32.83
$33.28
$34.07
$33.66
$25.00
$26.00
$27.00
$28.00
$29.00
$30.00
$31.00
$32.00
$33.00
$34.00
$35.00
0-20 20-50 50-100 100-200 200-300 300+
SpringBoard | Salaried Staff 11
Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved.
PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS.
Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your
organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your
organization’s responsibility to maintain and protect the confidentiality of this report.
6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
Salaried Staff
For salaried workers, the median salary fell within a range of $96-100k which is higher than the 2013
median of $91-95k with about 42.7% of respondents earning more. An average salary for the group
could not be computed because the respondents did not provide their actual salaries but only
selected a salary range.
Further analysis shows that salaried workers have continued to receive salary increases with only a
few indicating they had not received an increase since the date of hire. 65.6% of the salaried
professionals reported annual salary increases of over $5,000 and most of these workers were in
managerial roles. The table below shows the percentage of respondents who had received a salary
increase since the date of hire and the total increase they have received to date.
Percentage of respondents who have received salary increases since date of hire
2013 2015
Total Salary Increase Count % Count %
No Increase 29 11.1 32 16.7
$1.00 - $2,000 26 9.9 16 8.3
$2,001-$5,000 30 11.5 18 9.4
$5,001 or > 177 67.6 126 65.6
All 262 100 192 100
Conclusion
Several factors were identified from the 2015 survey to be key contributors to higher wages among
Cath Lab professionals namely; Geographic location, work experience, educational qualifications,
management roles, type of certification, type of Institution and size of Institution. We believe that
the findings from this survey will provide a useful benchmark for guiding Cath Lab professionals as
they make crucial career decisions and in their quest for upward mobility within their profession.

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Cath-Lab-Wage-Survey-2015-final

  • 1. Cath Lab Wage Survey 2015 Presented by: 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054
  • 2. SpringBoard | Introduction 2 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Contents Introduction ............................................................................................................................................3 Remuneration.........................................................................................................................................4 Certifications...........................................................................................................................................6 Experience, Educational Qualifications and Managerial Roles...............................................................9 Institutional Factors..............................................................................................................................10 Salaried Staff.........................................................................................................................................11 Conclusion.............................................................................................................................................11
  • 3. SpringBoard | Introduction 3 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Introduction Since 2011, SpringBoard Inc. has conducted the Cath Lab Wage Survey, an industry wide survey that aims to gather comprehensive insight into the salaries & wages, responsibilities and backgrounds of professionals working in the sector. The survey responses for 2015 as in previous years were drawn from Cardiac Catheterization, Interventional Radiology and Electrophysiology specialists working within the United States in diverse roles including Directors, Managers, Nurses and Technologists. The Cath Lab Wage Survey now provides the most accurate picture of how the industry looks on the ground, from those people working day-to-day in Cardiac Catheterization Laboratories. This report presents some of the interesting findings that were obtained from the 2015 survey and also discusses how these findings compare with results obtained from an earlier survey that Springboard conducted in 2013. SpringBoard wishes to thank all the clinical professionals and industry associations that have continually supported the survey.
  • 4. SpringBoard | Remuneration 4 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Remuneration The remuneration data was divided into two main categories - Travel and non-travelling Staff. As shown in the chart above, the average wage for travelling workers was significantly higher than that of non-travelling staff. Factors that affected pay for travelling staff included the location of the assignment (vacation destinations tend to be more competitive and therefore able to find willing applicants for less), demand for the position, local cost of living and the type of Cath Lab specialty being sought. Wage Comparison of Travel vs Staff by Licensure in the West Wage Comparison of Travel vs Staff by Licensure in the Northeast $42.97 $49.50 $42.15 $51.88 $36.53 $37.69 $30.00 $32.50 $35.00 $37.50 $40.00 $42.50 $45.00 $47.50 $50.00 $52.50 $55.00 Staff Travel Staff Travel Staff Travel RN RT CVT $36.87 $48.96 $36.81 $68.00 $31.43 $38.00 $20 $25 $30 $35 $40 $45 $50 $55 $60 $65 $70 $75 Staff Travel Staff Travel Staff Travel RN RT CVT
  • 5. SpringBoard | Remuneration 5 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Wage Comparison of Travel vs Staff by Licensure in the Midwest Wage Comparison of Travel vs Staff by Licensure in the South By looking at the charts above, one can easily observe that the West and the Northeast offer higher compensation for all Cath Lab workers as compared to the South. This could be attributed to the difference in cost of living between the two regions as well as a shortage of Cath Lab professionals thus leading to higher value opportunities. Additionally, the portability of licensures plays a part in the shortage of Cath lab workers and consequently, the increase in compensation. The geographic market of the workers carried some weight in determining how much they earn. As in previous years, the professionals working in a greater metropolitan areas earned the highest followed by urban workers, suburban workers and finally, rural workers. Again, a mitigating factor in the difference in wages across geographic markets could be attributable to the lower cost of living in suburban and rural areas. $34.29 $47.20 $32.11 $51.17 $29.14 $39.36 $10 $15 $20 $25 $30 $35 $40 $45 $50 $55 $60 Staff Travel Staff Travel Staff Travel RN RT CVT $32.67 $43.42 $32.40 $44.00 $28.54 $34.81 $15 $20 $25 $30 $35 $40 $45 $50 $55 Staff Travel Staff Travel Staff Travel RN RT CVT
  • 6. SpringBoard | Remuneration 6 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Average Wage per Geographic Market $32.40 $33.84 $33.84 $34.37 $31.00 $31.50 $32.00 $32.50 $33.00 $33.50 $34.00 $34.50 $35.00 Rural Suburban Urban Greater metropolitan area
  • 7. SpringBoard | Certifications 7 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Certifications The 2015 Cath Lab Wage Survey also sought to investigate if a direct relationship exists between earnings and credentials. We observed that some credentials were more valuable than others. For example, the average wage of those RNs with the CCRN credential was $44.99, which is considerably higher than RNs with other credentials. Additionally, we observed a significant increase in the RCES credential as Electrophysiology becomes more prominent. One can therefore conclude that choosing the right credential is critical when pursuing higher value opportunities. Value of Credentials on Average Wage Data from the survey shows that employers value credentials as 63% of the respondents stated that their employer reimbursed for credentials while 30% said they got a pay increase after getting credentialed. CCI - (RCIS) was the most popular credential with 65% of the respondents having it. $31.12$30.62 $32.38 $38.21 $34.63$35.41 $44.99 $36.87 $35.62$36.13 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 $45.00 $50.00 NoCredential RCIS RCES NoCredential RCIS RCES CCRN NoCredential ARRT(R) RCIS CVT RN RT(R) % who got reimbursed % who received a pay rise NO, 37% YES, 63% NO, 70% YES, 30%
  • 8. SpringBoard | Certifications 8 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Average Wage EP Vs Cath Vs Combo It was also observed that RNs working in Combo labs on average earned higher than those working in EP and Cath Labs while RTs working in Cath labs on average earned higher than those working in EP and Combo Labs. CVTs working in EP labs on average earned higher than those working in Cath and Combo Labs. This is a good indicator of skills demand across the different types of labs. Additionally, this could be an indicator of the different roles RNs and Technologists play in the EP lab vs. cath lab or interventional radiology. $35.25 $37.32 $37.06 $37.45 $36.53 $32.37 $29.40 $31.36 $31.39 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 Cath Combo EP Cath Combo EP Cath Combo EP RN RT CVT
  • 9. SpringBoard | Experience, Educational Qualifications and Managerial Roles 9 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Experience, Educational Qualifications and Managerial Roles A key driver of the Springboard’s Cath Lab survey has been to develop a clear understanding of how factors like experience, work status and managerial roles impact the wage a Cath Lab employee receives. As in the previous years, a direct relationship was observed to exist between how much employees earn and the amount of experience they have. Annual wage increments coupled with wage increases that come with getting credentialed often result in higher wages for longer serving employees as shown in the graph below. Average Wage vs. Years of Experience Another observation we made from the analysis is that most of the respondents in management roles were compensated with monthly salaries rather than hourly wages. From the table below, you will note that 89% of Directors were on a monthly salary compared to just 2.8% of those with staff roles. Hourly Salary Director 10.8% 89.2% Manager 30.1% 69.9% Supervisor 88.0% 12.0% Staff 97.2% 2.8% Another factor that was considered in the 2015 survey was the level of education. 44.5% of the respondents had an Associate Degree, 28% had a Baccalaureate Degree in Nursing, 10.3% had a Certificate, 5.2% had a Master of Science Degree, 2.4% a Doctoral Degree while 9.6% received On- the-Job Training. Most of those with Master of Science and Doctoral degrees were in senior management roles and were thus earning monthly salaries. $25.30 $28.53 $33.32 $36.53 0% 13% 32% 44% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 Less than 1 year 1-5 years 6-10 years 10+ years Average Hourly Rate % Increase
  • 10. SpringBoard | Institutional Factors 10 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Institutional Factors Our research suggests that Cath Lab workers in Academic/Teaching institutions are likely to earn much higher than those working for a Private Practice. Hospitals are the largest employers with over 83% of respondents working in Hospitals while respondents working for Vendors/Industry institutions represent less than 1% of the 2015 survey sample. Type of Hospital Average Wage Count % Academic/Teaching (Ex: a university hospital) $34.60 210 12.1% Government/Military $32.42 41 2.4% Hospital Based $33.50 1455 83.5% Private Practice $28.81 22 1.3% Vendor/Industry $33.40 14 0.8% Grand Total 1742 100% It was observed from the 2015 survey that institutions with higher bed capacity were generally able to pay higher wages on average as compared to those with lower bed capacity as illustrated in the graph below. Average Wage vs. Number of Beds $27.67 $31.18 $32.83 $33.28 $34.07 $33.66 $25.00 $26.00 $27.00 $28.00 $29.00 $30.00 $31.00 $32.00 $33.00 $34.00 $35.00 0-20 20-50 50-100 100-200 200-300 300+
  • 11. SpringBoard | Salaried Staff 11 Confidential Report - NOT for Distribution © 2015 by SpringBoard, Inc. All rights reserved. PROPRIETARY DATA, DO NOT DISTRIBUTE OUTSIDE YOUR ORGANIZATION. RESULTS EXCLUSIVELY AVAILABLE FOR PARTICIPANTS. Your company’s use of this report precludes distribution of its contents, in whole or in part, to other companies or individuals outside your organization in any form – electronic, written or verbal – without the express written permission of SpringBoard, Inc. It is your organization’s responsibility to maintain and protect the confidentiality of this report. 6970 E. Chauncey Lane, #110, Phoenix, AZ 85054 Salaried Staff For salaried workers, the median salary fell within a range of $96-100k which is higher than the 2013 median of $91-95k with about 42.7% of respondents earning more. An average salary for the group could not be computed because the respondents did not provide their actual salaries but only selected a salary range. Further analysis shows that salaried workers have continued to receive salary increases with only a few indicating they had not received an increase since the date of hire. 65.6% of the salaried professionals reported annual salary increases of over $5,000 and most of these workers were in managerial roles. The table below shows the percentage of respondents who had received a salary increase since the date of hire and the total increase they have received to date. Percentage of respondents who have received salary increases since date of hire 2013 2015 Total Salary Increase Count % Count % No Increase 29 11.1 32 16.7 $1.00 - $2,000 26 9.9 16 8.3 $2,001-$5,000 30 11.5 18 9.4 $5,001 or > 177 67.6 126 65.6 All 262 100 192 100 Conclusion Several factors were identified from the 2015 survey to be key contributors to higher wages among Cath Lab professionals namely; Geographic location, work experience, educational qualifications, management roles, type of certification, type of Institution and size of Institution. We believe that the findings from this survey will provide a useful benchmark for guiding Cath Lab professionals as they make crucial career decisions and in their quest for upward mobility within their profession.