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Infographic | Beyond Data

2023 Pay trends in the U.S. Health Care industry

December 2022

Explore what our industry-specific Health Care salary survey data for the United States tells us about 2023.
Compensation Strategy & Design|Health and Benefits
Beyond Data
Infographic of 2023 Pay trends in the U.S. Health Care industry

Employee attraction and retention plague organizations in the United States

Organizations are struggling to fill key roles at every level

Voluntary attrition rate Involuntary attrition rate
19% 7%

2022 saw the highest salary budget increases in nearly 20 years

Given the fundamental role salary plays in an organization’s ability to attract and retain talent, employers plan to carry this adjustment through to 2023 – yet remain cautious about how and when they allocate the overall budget.

2022 Overall Actual Salary Increases (Median) 2023 Overall Forecasted Salary Increases (Median)
4% 4%

Additionally, organizations leveraged bonus payouts in 2022 and, again, are on track to the same in 2023

10%: Average 2022 projected overall variable payout.

Executive 33%
Management and Professional 9%
Support Staff 2%

Organizations have taken or are considering taking the same three actions

Compensation review of specific employee populations 51%
Targeted increases for specific employee populations 45%
One-off cash payments (e.g., retention bonus, lump-sum payment or allowance) 44%

Top 3 highest-paid functions in the industry at Professional Level 3 (P3)

United States
Legal
Patient Care
Pharmacy

Median pay mix for Manager level 3 (M3) in the Data Scientist function

United States
Base (%) 78%
Bonus (%) 10%
LTI (%) 12%

There are a handful of roles that will receive the highest pay premiums

Role Pay premium (Median, in % of base salary)
APAC AI/machine learning frameworks 15%
EMEA AI/machine learning frameworks 20%
LATAM Cryptography, distributed ledger development, smart contract programming 15%
NA Cryptography, distributed ledger development, smart contract programming 15%

The Healthcare Databases in the U.S. include data on over 1.9 million incumbents, including Nursing data on over 600,000 incumbents.

Trends that will drive 2023 rewards decisions

  1. While labor challenges are not expected to dissipate in 2023, health care organizations may be forced to contend with a diminishing financial outlook, thereby pivoting total rewards decisions toward elements that do not negatively impact the cost structure of the organization and with a focus on total rewards optimization.
  2. Economic volatility and uncertainty could lead to lower investment levels and economic growth, which will force organizations to review their workforces and be more cautious about increasing salaries (among many other things).
  3. Organizations will look beyond pay and take a holistic view of total rewards to create employee experiences that attract and retain the talent needed to drive business objectives.
  4. To effectively compete against industry peers, compensation and HR professionals will seek a more sophisticated understanding and application of data in their strategic total rewards practices and policies.

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