Factors That Affect Biomedical Engineering Salaries
Biomedical engineering salaries depend on a variety of factors such as experience, education level and the type of company. Many biomedical engineers who are working industry jobs will likely earn more than those who work in a hospital or laboratory.
Average Pay Scale
In 2010, the median pay for a biomedical engineer was $81,540 per year. This roughly translates to about $39.20 per hour. In 2011, the salary for biomedical engineers rose to $88,360 per year or $42.48 per hour, while the number of jobs increased to 16,590. The lowest pay for an entry-level biomedical engineer is approximately $49,766 annually, but with 2 years of experience, this rises to $51,380. The potential for job growth in the field of biomedical engineering is very high.
For those who have a higher degree, a Masterís or PhD, their salary will be as high as $134,150. Biomedical engineers who work for supplies manufacturing companies or a medical equipment facility will earn a decent salary at around $86,240. It is a good idea to get accredited as a professional biological engineer in order to advance in the field. Biomedical engineers who have at least two to five years of experience will get paid a higher amount than those who are entry-level.
Biomedical engineers with only a Bachelorís degree can expect to earn around $53,470 per year. Engineering graduates are also able to enter the biomedical field, but they will be paid the same as an entry-level employee. Students who hold a Masterís degree will earn $67,360 per year while those who hold a PhD will earn $77,520 per year. Another option for biomedical engineers is to go to medical school to complete their PhD. Both a PhD and a professional certification will raise the salary for a biomedical engineer.
A biomedical engineerís salary will also depend on which company that they work for. Biomedical engineers who work in the scientific research area earn $88,330 per year. Those in a pharmaceutical company can expect to earn around $82,820 per year. The lowest paid biomedical engineers work for general care hospitals and universities where they make around $59,010 and $68,070, respectively. Private industry salaries will vary by company. However, most of these companies are very small and only employ a few people.
The highest paid biomedical engineers work in labs and research facilities and make around $98,080 per year. Alaska is the state that pays biomedical engineers the most at $152,180 per year. California and Minnesota are home to the next highest paid biomedical engineers with salaries of $99,650 and $97,330, respectively. The state with the lowest salary is Indiana at $66,900 per year. Companies on the West coast provide the highest entry-level salaries, while biomedical engineering companies on the East coast provide a better salary for more experienced candidates.
Biomedical engineering salaries are affected by educational level and experience. Location is also another controlling factor in biomedical engineering salaries. Biomedical engineers are in constant demand so their salaries are above the median range.