Newly graduated optometrists embarking on their first year of clinical practice can potentially make a wide starting salary range depending on their practice modality, professional goals, and other factors. Some new grads already have job opportunities waiting for them, while others prefer additional training through residency in a particular discipline(s). In this article, we’ll explore a broad overview for optometrists’ salaries as of 2022 based on practice modality, geography, and clinical experience.
Average optometrist starting salary based on setting
ODs in residency
In 2022, the new grad OD opting to pursue a residency program can expect to earn anywhere between $34,000 and $64,000 depending on their specific program, discipline, and location. The higher-paying programs are typically in more rural settings such as Indian Health Services throughout the southwest. Though this lower starting resident salary can dissuade some ODs, our 2021 Optometrist Report revealed that 96.3% of our respondents who completed a residency felt it was worth it.
Private vs. corporate practice
The majority of new grad ODs who do not pursue residency usually opt for private practice or commercial settings like Pearle Vision, Lenscrafters, Target Optical, and a Walmart Vision Center. Other avenues for employment directly out of school include some OD/MD practices, correctional settings, consulting, or even becoming an expert witness in malpractice cases. In most cases, practicing community health or hospital based-optometry does require optometrists to be residency trained (i.e., pediatrics, low vision, or ocular disease).
According to data gleaned from the 2021 Optometrist Report, there is a noticeable difference between salaries for private practice vs corporate optometrists, with those in a corporate setting earning approximately 11% more. In their first year, ODs starting out at an independently-owned office average $109,000 while their counterparts in a corporate setting earn $120,700. Comparatively, for those who opt to enter a hospital setting, the average starting salary is $116,00. However, those employed by a Veteran's Affairs Medical Center (VAMC) may only garner $70,000.
In most settings, periodic bonuses are also possible based on optical sales or patient volume and can be discussed accordingly. If you are in one of these modalities and you feel you have worked toward a raise, here are some tips on how to ask for that raise as an OD.
New grads must also be cognizant of other expenses pertaining to their career and factor these into their overall compensation package. This includes paid vacation/sick time, health insurance, malpractice insurance, and retirement planning (i.e., 403b, 401k).
“Remember to look at potential job opportunities from all angles, not simply the hourly rate or salary.”
Also, keep in mind that some job opportunities may require an after-hours call schedule or certain quotas for optical sales/patient volume. While this is acceptable and realistic in some settings, it can become stressful and lead to burnout in others.
How does your salary compare? See average salaries by location, practice setting, and experience level with Eyes On Eyecare's optometrist salary calculator.
ODs in Volunteer Optometric Services to Humanity/International® (VOSH)
As a quick side note, another non-traditional career opportunity for new grads is through a 1-2 year commitment with VOSH Corps. This program seeks to develop the optometric profession in other countries, usually requiring new grads to be proficient in a foreign language while teaching in academic and clinical settings. This program typically pays $34k-$43k/year with additional stipends for housing and travel.
Employee versus 1099 Independent Contractor
While some employment opportunities may seem attractive on the surface, especially independent contractor positions, new grads will soon find that after paying for their own malpractice policy, health insurance, and any additional social security/medicare taxes, their $70/hour position really is closer to $60/hour. The White Coat Investor blog recommends that 1099 doctors earn at least 10% higher than they would as a W2 employee, in order to cover the aforementioned expenses.
While 1099 contractors are able to take additional tax deductions such as mileage and/or home office expenses, in the end, these 1099 job opportunities may actually pay less than an employed position. Be sure to compare your prospective employment opportunities appropriately based on how you will be paid, including any benefits and consult a Certified Financial Planner if you need more in-depth assistance and really want to understand the key differences. We spoke to CFP Adam Cmejla and CPA Gary Topple to help us break down what each opportunity means.
Other factors that play into how much an optometrist makes
Optometrists at every stage in their career will find three factors that consistently influence salary:
- Location
- Experience
- Gender
Location, location, location
When negotiating salary as a new grad optometrist, the first step is to understand the market value in your desired region or state. For instance, optometrists reported the annual starting salary in Montana averages at a mere $78,000, while new grad optometrists in the neighboring state of Wyoming are pulling in $105,000 per year on average.
Where an optometrist chooses to practice has a significant bearing on the average optometrist salary they can expect; average optometrist salaries vary considerably by state, region, and even city. However, the results may surprise you. States within the same region were at both the top and the bottom of our lists. And, a bigger city doesn’t necessarily mean a bigger salary, as often metropolitan areas are more desired and therefore can afford to offer less. Optometrists practicing in rural areas often find these locales are willing to pay more to ensure their community's eyecare needs are met.
At the same time, it's important to take into consideration elements like cost of living, housing availability, transportation options, and overall convenience of a given location, as this will also impact how your salary translates to your everyday reality.
More experience, more money
When it comes to salary, the amount of time spent in the optometry field plays a significant role. As one would expect, as experience increases, typically, so does the average optometrist salary. For example, in a median market, a new grad will start out at $109,000 while an OD with 4-6 years experience will garner $123,600, and an individual will 10+ years experience will earn $166,800.
Gender also influences optometrist salaries
Though starting salaries specifically were not analyzed, our 2021 Eyes On Eyecare Optometrist Report discovered significant difference between salaries for male and female ODs—even in 2021. Based on salary data for all optometrists polled (including employed optometrists and practice owners), male ODs are taking home about $41,699 more per year than female counterparts when salaries are averaged by gender. The Review of Optometry’s 2021 Income Survey reported similar findings with male optometrists reporting an annual salary of $189,260 compared with $165,447 for female ODs. However, this is actually a step in the right direction; over 2021, the gender gap closed to an all time low of 14%.
Contract considerations and salary negotiation
An impressive salary cannot make up for a mediocre work situation that offers minimal satisfaction. Sometimes new grads can get excited to “see a lot of ocular disease” at a local private, commercial, or OD/MD practice, only to find they’re expected to exclusively refract 20+ patients per day instead. Or they realize their corporate employee expects them to work both Saturdays and Sundays. The most viable way to avoid conflict and disappointment is to discuss all the terms of employment upfront and to get each in writing in the form of a detailed contract.
Regardless of the job opportunity, it is important to put everyone’s expectations in a clear and legally binding document. To learn exactly what should be included and how maximize your benefits, read our article on tips for negotiating a better contract and better starting salary.
Negotiable benefits can include:
- Pay
- Insurance
- Retirement savings plans
- Ownership/stock options
- Schedule
- Vacation time
- Patient-care hours
- Allotment for Continuing Education
Unfortunately, any opportunity where your prospective employer refuses to put things into a written contract is likely not the employment opportunity for you. While there is no right or wrong mode of practice, new grads need to have a solid understanding of the pros and cons of each modality and employment structure from a clinical, business, and income-tax perspective. There is nothing wrong with committing to numerous part-time opportunities to see what works best for your personal and professional goals.
On the subject of student loans
One of the most daunting issues for new grads is student loan debt. After polling 551 employed ODs, we found the average student loan debt to be $96,943.29. More specifically, 2019 grads reported an average $173,000 worth of student loan debt.
In 2020, the government declared a national emergency in response to the Coronavirus pandemic. As a result of COVID, student loan payments were temporarily suspended and interest rates were waived. For eligible loans, the student loan payment pause has been extended by the U.S. Department of Education (ED) through May 1, 2022. This extension includes a 0% interest rate, a suspension of loan payments, and a halt on collections on defaulted loans.
Also, there are upcoming opportunities for student loan forgiveness for people devoted to careers in nonprofit and public organizations through the Public Service Loan Forgiveness (PSLF), a federal student loan forgiveness program. Some optometrists in the community health sector may find themselves eligible.
Also, in addition to negotiating a competitive starting salary, there are steps you can take early in your career to pay off student debt in a timely manner.
Use our Student Loan Calculator to jumpstart your payment plan!
In closing
It is also important to remember that most new grads’ first job opportunity may not be their last. Even though we’ve all had a diverse exposure to various clinical settings as third and fourth year students, the exposure may continue after graduation. It is not uncommon for new grads to periodically change practice modalities or geographical locations prior to finding their dream job and ultimate career path.
Taking all things into consideration, aside from just the hourly rate or salary, will better help you obtain your true dream job and ideal lifestyle.
Looking for opportunities in optometry? Click here to book a time with one of our recruiters to discuss your job search and goals.
FAQs
What's the Average Starting Salary for Optometrists in 2022? ›
Optometrists earn an average yearly salary of $118,800. Wages typically start from $58,280.
How much does an Optometrist earn in the US 2022? ›In 2022, the new grad OD opting to pursue a residency program can expect to earn anywhere between $34,000 and $64,000 depending on their specific program, discipline, and location.
How much does an Optometrist earn in Texas 2022? ›How much does an Optometrist make in Texas? The average Optometrist salary in Texas is $135,038 as of May 01, 2023, but the range typically falls between $119,548 and $149,575.
How much money do eye doctors make in Texas? ›Years of experience | Per year |
---|---|
1 to 2 years | $184,262 |
3 to 5 years | - |
6 to 9 years | - |
More than 10 years | $88,501 |
- Glaucoma Specialist. Salary range: $366,500-$400,000 per year. ...
- Refractive Surgeon. Salary range: $41,500-$350,000 per year. ...
- Pediatric Ophthalmologist. Salary range: $170,000-$325,000 per year. ...
- Ophthalmologist. ...
- Optical Engineer. ...
- Eye Care Professional. ...
- Optometrist. ...
- Electro-Optical Engineer.
Yes, being an optometrist is a good career because it has a good work-life balance, is relatively low-stress, and has higher-than-average salaries. Optometrists usually work a 40-hour week, which allows them to pursue activities outside of their jobs. An optometrist might work a daily 9 a.m. to 5 p.m. schedule.
What is the highest optometrist salary in USA? ›Optometrist Salary. $109,000 is the 25th percentile. Salaries below this are outliers. $143,000 is the 75th percentile.
What is the best Optometrist salary? ›Annual Salary | Monthly Pay | |
---|---|---|
Top Earners | $159,124 | $13,260 |
75th Percentile | $140,029 | $11,669 |
Average | $113,776 | $9,481 |
25th Percentile | $106,735 | $8,894 |
- (1) Be able to explain your rationale for wanting a pay raise. Think about what you bring to the table.
- (2) Demonstrate your added value. Focus the conversation about what you can do for the practice rather than what the practice can do for you.
- (3) Negotiate with tact.
The Bureau of Labor Statistics projects that employment of optometrists will grow 9% from 2020 to 2030. Increasing demand for optometrists is due in part to an aging population that will require more care for age-related vision conditions, such as cataracts and macular degeneration.
Can an Optometrist be a millionaire? ›
You may not make a million dollars a year, but you can easily become a millionaire as an optometrist. It's just going to much much harder as long as you're working for someone else.
What doctor makes the most money in Texas? ›...
The five highest paying jobs in Texas are:
- Cardiologists: $361,990.
- Ophthalmologists (non-pediatric): $337,120.
- Dermatologists: $321,600.
- Orthopedic surgeons, (non-pediatric): $314,970.
- Obstetricians and gynecologists: $292,560.
'A small part of that study looked at optometrists' perception of the profession. 68.8% of respondents thought that the profession was stressful with tension between business imperative and helping patients highlighted as a particular concern.
What is the highest degree for optometrist? ›An optometrist is not a medical doctor. An optometrist receives a doctor of optometry (OD) degree after completing four years of optometry school, preceded by three years or more years of college.
Where is the best place to work as an optometrist? ›- Rio Grande Valley, Texas. ...
- Lexington, Kentucky. ...
- Charleston, South Carolina. ...
- Suburban Tulsa, Oklahoma. ...
- Scottsdale, Arizona. ...
- Northwest Arkansas. ...
- Indianapolis, Indiana. ...
- Annapolis, Maryland.
- Educational requirements. To become an optometrist, earn a bachelor's degree in a relevant field. ...
- Licensing requirements. ...
- Repetitive daily routine. ...
- Individual work. ...
- Limited opportunities for career advancement.
Optometrists use math to identify sight lines and vision angles during an eye exam. They must write the percentage of vision loss on a patient's chart to monitor changes or improvements. While examining a patient's eyes, optometrists use vision equipment to diagnose diseases such as glaucoma and cataracts.
Is optometry school easier than med school? ›Yes, optometry school is definitely as hard as med school. That being said, though, med school is more intense owing to the sheer volume of material med students are required to learn.
Is optometry field oversaturated? ›Optometry is not oversaturated
Depending on a variety of factors (eg.
How much does a licensed optician earn in USA? ›
Job Title | Salary |
---|---|
National Vision Licensed Optician salaries - 33 salaries reported | $31/hr |
Sam's Club Licensed Optician salaries - 31 salaries reported | $39/hr |
U.S. Vision Licensed Optician salaries - 21 salaries reported | $30/hr |
Pearle Vision Licensed Optician salaries - 20 salaries reported | $31/hr |
Estimated average pay
The estimated middle value of the base pay for Optometric Assistant at this company in the United States is $16.36 per hour.
The average optometrist salary in the USA is $125,000 per year or $60.10 per hour. Entry level positions start at $100,000 per year while most experienced workers make up to $162,692 per year.
How much debt does the average optometrist have? ›That sounds like a sound financial decision. But between tuition increases each year and the cost of living, the average optometry student debt for many ODs can be $200,000+. That amount of debt shifts them from being able to pay it back in 10 years or less to 20 years or more.
What is the profit margin for optometrist? ›Optometry practices are known to be lucrative businesses, especially if they are able to survive their first year and solidify themselves as an organization. In fact, optometric practices have the potential to earn between 30-40% net profit.
How much more is OK to negotiate salary? ›Consider negotiating lower if 10-20% places you above the average. Is the pay in-line with average pay, but still believe you can negotiate based on your skills? Consider a range between 5-7% above. You don't want to risk your chances with a company that is genuinely interested in your financial well-being.
How old are most optometrists? ›Optometrist Years | Percentages |
---|---|
40+ years | 59% |
30-40 years | 33% |
20-30 years | 7% |
Optometry, on the other hand, is really not going away anywhere anytime in the near future. Certainly, in the future year, optometrists will be in higher demand than it has ever been before. By 2025, our present demographic of 315 million will have swelled to over 350 million.
Is becoming a optometrist hard? ›Optometry school is difficult. Optometry schools have a 74% acceptance rate, and students must pass the Optometry Admissions Test and have a GPA of at least 3.0 to apply for admission. All optometry schools require college-level classes.
What makes a successful optometrist? ›Good optometrists are good listeners and good communicators. We all think we're good at communicating. Time and again it is a failure in communication that results in an unhappy patient, a complaint and, in the worse situation, a General Optical Council (GOC) referral.
Who is the richest optometrist in the UK? ›
Sunday Times Rich List: Specsavers' Dame Mary Perkins becomes first UK woman billionaire boss.
Who are the top 3 paid doctors? ›- Cardiologist. National average salary: ₹3,64,840 per year. ...
- Nephrologist. National average salary: ₹3,79,732 per year. ...
- Orthopaedic surgeon. National average salary: ₹4,78,829 per year. ...
- Urologist. ...
- Neurologist. ...
- Oncologist. ...
- Surgeon. ...
- Pulmonologist.
How Much Do the Highest-Paid Doctors Make? The highest-paid doctors in the US are in surgical specialties such as plastic surgery, orthopedic surgery, or cardiology and report earning over $500,000 per year on average.
What are the 4 highest paying jobs in Texas? ›- Chief executive officer.
- Surgeon.
- Family and general practitioners.
- Psychiatrist.
- Obstetrics and gynecology physician.
- Pilot.
- Dentist.
- Oral surgeon.
State | Employment (1) | Annual mean wage (2) |
---|---|---|
California | 3,130 | $ 217,480 |
Ohio | 1,740 | $ 239,070 |
Tennessee | 1,590 | $ 223,290 |
New Jersey | 1,340 | $ 203,020 |
Best-paid skills and qualifications for Pharmacists
Pharmacists with this skill earn +29.05% more than the average base salary, which is $58.60 per hour.
Pharmacist Salary By State FAQs
The highest-paid state for pharmacists is California with an average salary of $161,597 per year. What city pays pharmacists the most? Sacramento, CA pays pharmacists the most with an average salary of $169,716 per year.
Optometrists tend to be predominantly investigative individuals, which means that they are quite inquisitive and curious people that often like to spend time alone with their thoughts. They also tend to be social, meaning that they thrive in situations where they can interact with, persuade, or help people.
What is the daily life of an optometrist? ›Optometrists spend an average of 37 hours per week in the office. The majority age group (24%) of patients seen by optometrists is 35 to 54 years. On average, optometrists treat 60 patients per week. The average for owner optometrists is 57, including seven walk-ins/emergencies and 16 new patients.
What is the personality of an optometrist? ›excellent communication skills. an interest in health and a desire to improve people's quality of life. to be able to work with precision. an ability to put nervous patients at ease.
Does an optometrist holds a MD degree? ›
Optometrists are not medical doctors. Instead, they have a doctor of optometry (OD) degree after finishing three or more years of college and four years of optometry school.
What is the best major for ophthalmologist? ›Aspiring ophthalmologists must earn a bachelor's degree as it is required in order to attend medical school. Typical majors for students aspiring to attend medical school include biology, pre-med, health sciences, biochemistry, nursing, and even public health.
Which company pays optometrists the most? ›Mayo Clinic has the highest average salary for optometrists.
Where do optometrist make the most money? ›- Wilmington, North Carolina. $198,370.
- Hartford, Connecticut. $172,190.
- Norwich, Connecticut. $169,140.
- Dothan, Alabama. $166,950.
- Bridgeport, Connecticut. $163,590.
The largest employers of optometrists in the U.S. are optometrists' offices (almost 60%), physicians' offices (17%), and health and personal care stores (11%). Most optometrists are employed full time, although some also work weekends. In this role, you'll spend most of your time working in exam rooms.
How much does Optometrist earn in us? ›How Much Do Optometrist Jobs Pay per Year? $109,000 is the 25th percentile. Salaries below this are outliers. $143,000 is the 75th percentile.
How much does a US Optometrist earn? ›Years of experience | Per year |
---|---|
1 to 2 years | $435,501 |
3 to 5 years | - |
6 to 9 years | - |
More than 10 years | $209,170 |
The average optometrist salary in the USA is $125,000 per year or $60.10 per hour. Entry level positions start at $100,000 per year while most experienced workers make up to $162,692 per year.
Is optometry a good career in us? ›High projections for job growth
Optometrists can expect high projections for job growth in their field. The U.S. Bureau of Labor Statistics predicts the employment of optometrists to grow 9% through 2030, a rate that's about as fast as the average for all occupations.
Annual Salary | Monthly Pay | |
---|---|---|
Top Earners | $159,124 | $13,260 |
75th Percentile | $140,029 | $11,669 |
Average | $113,776 | $9,481 |
25th Percentile | $106,735 | $8,894 |
How to negotiate salary as an optometrist? ›
- (1) Be able to explain your rationale for wanting a pay raise. Think about what you bring to the table.
- (2) Demonstrate your added value. Focus the conversation about what you can do for the practice rather than what the practice can do for you.
- (3) Negotiate with tact.
Average Americas Best Contacts and Eyeglasses hourly pay ranges from approximately $10.00 per hour for Ophthalmic Technician to $17.89 per hour for General Manager.
Can a optometrist become a millionaire? ›The key is to get involved as the owner of or a partner in a large, multi doctor practice. You may not make a million dollars a year, but you can easily become a millionaire as an optometrist. It's just going to much much harder as long as you're working for someone else.
Do optometrists get DR title in USA? ›Many confuse the responsibilities of an optometrist vs ophthalmologist. Optometrists are not medical doctors. Instead, they have a doctor of optometry (OD) degree after finishing three or more years of college and four years of optometry school.
How long is optometry school in USA? ›The Doctor of Optometry (O.D.) is a professional degree which requires four years of professional study. During the first year of optometry school, students concentrate on the basic biological sciences including; anatomy and physiology, microbiology, and neuroanatomy.