Are You Underpaid? The 6-Step Salary Check Every PA, NP, and PharmD Needs

📉 You might be underpaid by $10,000—or more.

If you're a PA, NP, or pharmacist and you're relying on vibes and guesswork instead of real data to evaluate your compensation, you could be losing tens of thousands of dollars every year. That’s money that could be funding your investments, knocking out debt, or helping you reach financial independence faster.

So let’s fix that.
Below is the 6-step system to figure out what you should be earning—and what to do if you're falling short.

Step 1: Find the Median Salary for Your Subspecialty

First, you need a benchmark.

It’s shocking how many medical professionals skip this part. Before asking friends or Facebook groups if a salary is “good,” go to actual data sources.

📊 Try:

• MaritHealth’s Salary Explorer (most granular + updated for 2025)
• AAPA Salary Report
• Bureau of Labor Statistics
• Salary.com
• Glassdoor’s Know Your Worth tool
  

For example:

• 🩺 CT Surgery PA Median = $158,000
  
• 👶 Pediatric PA Median = $127,000
  

👉 Write this number down. It’s your starting point.

Step 2: Adjust for Cost of Living

Earning $130K in Columbus, OH ≠ $130K in San Diego, CA.

Use a cost of living (COL) calculator to adjust your base salary to your city’s real purchasing power.

✅ Tools to use:

• NerdWallet’s COL Calculator (for city-to-city comparisons)
• Payscale.com (to see % above/below national average)
  
  

📍 Example:

• $127K in Columbus, OH = $194K equivalent in San Diego, CA
• Why? Housing is 150% more expensive in San Diego.
  
  

👉 Adjust your salary benchmark based on where you live—or where you’re moving.

Step 3: Factor in Years of Experience

More experience = more value = more compensation.

This is especially relevant if you’re seasoned. Use data to check how salary scales with years on the job.

📈 Example from MaritHealth (Orthopedics PA):

• 0–2 years = $127,000
• 10+ years = $165,000
  

That’s a 13% increase above the average.

Note - it’s not an across the board truth that 10 years of experience = 13% more pay. You need to do your own research for your speciality.

📌 Formula:
Take your COL-adjusted salary (Step 2) and apply:

• +13% for 10+ years of experience
• −13% if you're a new grad
  

Step 4: Push to the 75th Percentile (Don’t Settle for Average)

Now that you’ve found the average, it’s time to aim higher.

Most high-performing clinicians should be compensated in the 75th percentile—not just at the median.

🌟 Example:

• Derm PA Median = $156K
• 75th Percentile = $200K
  

Apply the same COL + experience adjustments to the 75th percentile figure to find your true target range.

This is your negotiation goal.
The Step 3 number is your floor. The Step 4 number is your goal (not your ceiling, because someone has to be the 95th percentile!).

Step 5: Include Non-Salary Compensation

Total compensation matters more than just your W2.

Don't forget to factor in:

• CME budget & days
• Licensing + board fees coverage
• HSA or FSA match
• 401(k)/403(b) match
• Paid time off
• Malpractice coverage
• Bonuses or relocation stipends
  

📌 Example:
Two offers at $150K
— One includes 10% retirement match = +$15K in comp
— The other offers only 3% = +$4.5K

That's a $10K difference in total comp.

Step 6: Calculate Your Effective Hourly Rate

Not all $150K jobs are created equal.

🧠 You must evaluate how much you’re being paid per hour worked.

📊 Example:

• Ortho PA working 50 hrs/week = $58/hour
  
• Urgent Care PA working 36 hrs/week = $80/hour
  

Even with the same salary, their lives and workloads look VERY different.

⚖️ Knowing your effective hourly rate helps you:

• Compare job offers apples to apples
  
• Make smarter decisions about burnout, balance, and true compensation
  
  

Final Thoughts: Know Your Worth—Then Ask for It

This 6-step system gives you data-backed clarity on whether you're being paid fairly. If you discover you're underpaid, this is your first fix in the wealth-building journey.

Because saving, investing, and paying off debt?
💡 They all get a lot easier when you're earning what you're truly worth.

🎯 Ready to Negotiate Like a Pro?

📢 Get your Income Upgrade Blueprint here

Get access to:
✅ 4-Hour Masterclass on how to multiply your income
✅ Salary negotiation tools
✅ Side gig strategies
✅ CV/Resume Optimization Checklist

📲 And follow us on Instagram for daily finance tips: @millionairesinmedicine