Average Salary

• In 2002 the Association of Healthcare Documentation Integrity -- the standard bearer for the industry -- reported that the average annual salary for medical transcriptionists was $31,400. By 2009 the Bureau of Labor Statistics reported that the average wage for the occupation was $33,350, while in 2011 two wage comparison websites reported higher figures -- PayScale.com put the average pay at $24,414 to $35,827 and MySalary.com listed it at $38,477.
  
  

Salary by Industry

• The BLS reported that the three sectors of the healthcare industry that employ the largest numbers of medical transcriptionists are general medical and surgical hospitals, the offices of physicians, and business support services. It listed the average annual salaries for these sectors as $34,480, $32,410 and $31,040, respectively. Medical and diagnostic laboratories paid slightly more -- $38,680 -- as did the offices of dentists -- $36,170. Outpatient care centers were listed at $32,870.
  
  

Salary by Geography

• A second factor influencing the salaries of medical transcriptionists is the physical location in which they are employed. The Bureau of Labor Statistics' 2009 survey listed Massachusetts and Alaska as the states in which, across all industry sectors, a transcriptionist was likely to receive the best compensation rates -- $42,880 and $42,640, respectively. North Dakota was listed at just $27,700. At the level of metropolitan districts, the BLS listed the Brockton, Bridgewater, Easton area of Massachusetts as the most lucrative, paying an average of $67,360, with Rapid City, South Dakota, listed at just $29,540.
  
  

Prospects

• The Bureau of Labor Statistics expects to see employment opportunities for medical transcriptionists increase by approximately 11 percent between 2008 and 2018, roughly in line with national projections across all occupations -- between 7 and 13 percent over the same time. The healthcare industry as a whole will expand to meet the demands of an increasing, aging population, with the effect of creating demand for transcriptionists to administer its documentation. As such, salaries for the profession should remain very competitive; those certified by the Association for Healthcare Documentation Integrity are likely to secure the best pay rates.