A person who wants to work as a biomedical scientist in a biomedical research facility may wonder, “Can I make good money as a biomedical laboratory scientist?” The answer to this is complex, because working independently as a biomedical scientist often requires years of working as an assistant or technician under another scientist at a lower pay grade. Knowing the answer to this question could help a person plan their career path, their bachelor’s degree major, their doctoral or post-doctoral studies, or their industry of employment as a biomedical scientist. Biomedical science is a challenging career, requiring time and money to get education, so knowing salary information and whether the average biomedical scientist is paid fairly prior to pursuing that education is important.
What Is an Average Biomedical Scientist Salary?
The Bureau of Labor Statistics (BLS) reports the median annual wage for medical scientists was $95,310 in May 2021. The median wage is the pay at which half the workers in an occupation earned more and half earned less than that amount. The lowest 10 percent earned less than $50,100, and the highest 10 percent earned more than $166,980 annually. Those with more years of work experience tend to earn more money per year. A biomedical scientist may be salaried, working at least 40 hours per week. During critical experiments or other times of urgency, they may put in long hours, including evenings, weekends and holidays with or without overtime pay. Some factors may include earning bonuses based on performance, and these are not included in the average salary numbers.
Pay Based on the Industry of Employment
It is also important to consider the average biomedical scientist salary by the industry in which they are employed. There are many pay factors, and the highest-paying industry of employment as of May 2021 was research and development in physical, engineering and life sciences with a median annual salary of $102,210. Next is pharmaceutical and medicine manufacturing, with a median annual wage of $99,830. Hospitals provide a median salary of $79,800, physician offices come in at $79,760, and colleges, universities and professional schools at $62,560.
Annual Earnings Based on City, Territory or State of Employment
Degree candidates or those who are seeking employment as biomedical scientists may also consider the annual earnings based upon the city, territory or state of employment. According to the BLS, the cities with the highest annual average salary for biomedical laboratory scientists included New Haven, Oklahoma City, Bridgeport, Vallejo, Little Rock, Pine Bluff, Salinas, Philadelphia, Stockton and the Washington, D.C. metropolitan area. The states with the highest average salary for a biomedical scientist in May 2018 were New Jersey, Connecticut, New Hampshire, Rhode Island and Delaware. Of course, salary estimates vary by experience level, so base salary for an entry-level biomedical scientist is lower than the average annual earnings.
How a Biomedical Scientist Could Boost Their Earnings
There are a few ways that a biomedical scientist can increase earnings with additional pay. In the public sector, such as a university, securing federal funding for research may boost their chances at a permanent or tenure position. Teaching may also add to their salary. In the private sector, stock dividends, patents, or bonuses may add to an individual’s earnings. Working one’s way into a management position and leading other scientists’ research and development efforts could also yield a higher amount of pay per year since some positions may have a higher base salary. Similar job titles in different industries may yield higher pay.
What does a Biomedical Scientist Do?
These scientists conduct research with the goal of improving and protecting human health. They may be involved in clinical trials or other investigative methods to make new discoveries. These medical scientists work at designing and conducting studies to investigate, prevent, and treat human diseases. Medical scientists often specialize in a research area within the broad subject area.
What Is the Job Outlook for a Biomedical Scientist?
The employment outlook for medical scientists is projected to grow 17 percent from 2021 to 2031, which is much faster than the average for all occupations. A projected 10,000 openings for medical scientists is projected each year over the next decade. Many openings are expected to be the result of the need to replace workers transferring to other occupations or leaving the labor force due to retirement or other reasons.
What are some professional organizations for a Biomedical Scientist
Professional organizations work to promote their profession, provide networking opportunities, continuing education and more. Check out these professional organizations for the biomedical science industry.
The International Association of Biomedical Sciences (IABS) is a professional organization of biomedical scientists and clinicians working to promote intellectual exchange worldwide. This organization works to develop industry education and advocates for biomedical ethics, among other things.
The Institute of Biomedical Science (IBMS) is the Professional Body for biomedical scientists and support staff, working to advance knowledge and setting standards in biomedical science. IBMS members enjoy a range of benefits to develop scientists’ knowledge and careers, with professional support and recognition.
A career in biomedical science and research could be personally, professionally and financially rewarding. It is also important to keep in mind that those candidates with the highest education level with both a medical and doctoral degree will have the highest earning potential, as will those who have more years of experience in the field. Knowing the answer to, “Can I make good money as a biomedical laboratory scientist?” could facilitate a person’s financial, personal and professional plans, and pave the way for a meaningful career path.
MPH Staff, Updated September 2022
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