The average TOTAL compensation reported for employed OPTOMETRISTS was $103,924, according to the 2011 ECP Compensation Study conducted by Local Eye Site in conjunction with Jobson Optical Research. The average total compensation of optometrists who are owner/partners for 2010 was reported as $146,631.
The average salary for all optometrists who reported receiving a salary was highest in the Northeast region at $116,828 and lowest in the West at $98,024. The South came in at $113,514 and the Midwest at $105,228.
The significant point here is that the total compensation package for owner/partner optometrists is 41 percent higher than employee optometrists. Add on top of this the fact that the American tax system favors the owner over the employee and the financial value of being an owner becomes clear. So where are you with respect to these numbers? If you are an employee doctor who has been thinking about becoming an owner/partner, then make this the year you take action to make that happen.
The drill-down on these numbers by region helps show important differences. Note that the regional numbers are average salary versus total compensation. So where are you with respect to these numbers? The question for you to answer is: “How can I make myself more valuable to the practice so that I can share in the increase to the practice?” Make this the year you take action to make that happen.
