Among the most lucrative careers in the medical field is biomedical engineering. Biomedical engineers require a bachelor's degree minimum to qualify as professionals. The degree should be from a medical related field such as biochemistry, and biomedicine. Before looking at what affects biomedical engineers do, it is important to define what biomedical engineers do. Biomedical engineers simply provide solutions in the medical industry. They usually do so by inventing processes/procedures that make the work of other medical professionals easier. Example of inventions that biomedical engineers have spearheaded include; development of new and more effective pharmaceutical drugs, invention and manufacture of pharmaceutical organs, invention and manufacture of new instrumentation.
From the definition of what biomedical engineers do, it is obvious that they should be compensated accordingly. According to statistics, biomedical engineer salary is approximately $70,000 yearly. It is however important to note that biomedical engineers can earn much more when some factors are put into consideration. This factors include; education level, specialization, employer, state experience. The average salary of a biomedical engineer with higher education, working for a good employer, specialized in a lucrative area of specialization is bound to earn a higher salary i.e. above $160,000 compared to a graduate fresh from college. Below are the main factors affecting biomedical engineering careers in the medical field.
This is one of the main determinants of Biomedical engineering pay. This is because there are many areas of specialization that a biomedical engineer can choose to qualify from. Also, some of these areas are more lucrative in terms of offering higher pay than others. For example, areas such as research and development offer better wages. A biomedical engineer specialized in research and development commands a salary of $160,000 and above annually. Pharmaceutical is also a lucrative field in biomedical engineering. Specialists in pharmaceuticals command a salary of $95,000 and above annually. It is however important to note that not all fields in biomedical engineering are lucrative. Fields such as education are not as lucrative as research and development or pharmaceutical. A biomedical engineer who has specialized in education earns an average of $69,000 annually.
The level of education is also a crucial determinant of biomedical engineering salary. To earn the highest wages as a biomedical engineer, one must pursue higher education i.e. pursue a masters or doctorate in biomedical engineering. Engineers who advance their education earn approximately $50,000 to $100,000 more than those with basic education.
The number of years of experience also dictates the salary of biomedical engineers. According to labor statistics on biomedical engineering wages, engineers who are more experienced i.e. 10 years and above experience have the capacity to earn $200,000 and above annually. It is important to note that the salary can go higher with higher education levels and a better area of expertise i.e. above 250,000.
Employers also affect the biomedical engineering careers in the medical field. The main reason behind this is because different employers have different wage policies. In summary however, private sector employers pay better than public sector employers. Working for the private sector is therefore better as it can increase your salary by $20,000 to $50,000 or above a year.