5 Ways Respiratory Therapists Can Increase Their Income
When working as a respiratory therapist, you could feel like your earnings are restricted to a specific range. However, there are numerous opportunities to earn some extra money. It is essential to be comprehensive while also being innovative.
How Much Do Respiratory Therapists Make?
According to data from the United States Bureau of Labor Statistics, the average compensation for a respiratory therapist in the United States is $62,810 per year. The vast majority of them earn between $54,000 and $75,000 each year, on average.
When it comes to variances in base pay, there are a few elements that influence how much someone earns. One of these factors is location. For example, RTs working in Texas, California, and Florida earn significantly more money than their counterparts in other parts of the country. States such as West Virginia, Alabama, Kentucky, Iowa, and Mississippi have salaries that are lower than the national average.
Another element to consider is your own personal experience. The average salary of an RT increases after five years in the field, according to industry statistics. An further hiccup occurs around the 10-year point. Predictably, those who are new out of school and have no prior RT experience typically begin their careers with a starting pay that is below average.
Practical Ways to Increase Your RT Income
While there are definite limitations to a full-time RT pay, there are always ways to increase your earnings potential. Here are a few concepts that may be of assistance:
1. Become the Best RT You Can Be
This may seem like the sort of over-simplistic advice that you’d hear from a commencement speaker at a graduation, but it’s true: work hard to become the best potential RT you can be, and you’ll be rewarded for your efforts in the process.
Achieving the highest level of performance does not necessarily imply superior intelligence. It entails being on time, doing what you say you’re going to do, treating patients with dignity, and demonstrating respect for your superiors and coworkers. It also entails making an investment in yourself by enrolling in online respiratory therapy continuing education credits (CEUs) and personal development courses.
2. Ask for a Raise
Isn’t it time you asked for more money? For those of you who have been with the same employer for several years and have performed admirably, now is an excellent moment to request a raise. Each and every dollar counts, even if it’s only an extra $200 or $300 per month. (And you’d be shocked at how eager most employers are right now to retain their current personnel. )
3. Look Around for Higher-Paying Jobs
If your company refuses to grant you a raise, you may want to explore exploring for higher-paying employment opportunities. If you can locate one, that’s fantastic! You have two options: either accept the position and leave your current workplace (which may re-energize you), or accept the job and bring it to your current employer in order to use it as leverage to obtain a promotion.
4. Pick Up Extra Shifts
Is there any availability for more shifts? You can gradually improve your income by adding a few extra hours to your schedule each month. In addition, if you’re prepared to work on weekends and holidays, you could earn even more money. Although this is not always the best method, it is certainly one option.
5. Add a Side Hustle
As a respiratory therapist, you are not likely to make $150,000 or $200,000 per year. That’s just the way things are in this situation. Although nothing prevents you from going out and starting a side venture to supplement your income, there is nothing stopping you from doing so. As a matter of fact, if you find the proper side hustle, your combined profits might easily exceed $150,000 or even $200,000. It all comes down to finding the proper fit.
It all depends on your skillset, hobbies, and available time, but here are some suggestions for side hustles to get you started:
I work as a freelance health writer. Do you have a natural talent for writing? Websites, blogs, and other publishing companies are constantly on the lookout for skilled writers with a history in the healthcare field. Your blog posts could be worth upwards of $100 each post once you’ve gained some skill. Write multiple pieces per week, and your revenue will soar to new heights.
Driving for the company Uber. Even while it seems simple – and there is only so much money you can make — driving for Uber when you are not on the clock can provide a tiny boost to your income. However, there are some limitations. It’s the most convenient because you can establish your own hours and determine when you’ve had enough.
Create an Etsy or eBay store. Try setting up an Etsy or eBay store and selling products there if you want to let your entrepreneurial spirit shine brightly.
These are only a few simple illustrations. There are virtually endless possibilities. And if you find the proper one, you could end up earning thousands of dollars more every month in the long run.
Give Your Income a Boost
Increase your earning potential.
There are numerous methods to increase your earnings as a respiratory therapist, whether it’s through a pay raise or by generating additional income through a side hustle to supplement your primary income. Inspire yourself by reading this post, and don’t be scared to experiment with your ideas.
