Average Medical and Health Services Managers Salary in Richmond, VA
Medical and Health Services Managers in Richmond, VA, command an impressive average annual salary of $142,970. This figure notably surpasses the national average of $137,170, suggesting that specific local economic factors and demand within the Richmond healthcare sector contribute to this elevated compensation. The robust healthcare infrastructure and the strategic importance of healthcare administration in the region likely play a significant role in dictating these higher pay rates.
Executive Summary
- Average Salary: $142,970 per year.
- Growth Trend: Salaries have shifted 18.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $214,455.
- Outlook: Richmond, VA, presents a stable employment landscape for Medical and Health Services Managers, with a local workforce of 1,750 individuals in this role. The location quotient of 0.73 indicates a slightly lower concentration compared to the national average, suggesting that while the profession is present, it may not be as saturated as in other regions. This equilibrium points to a steady demand for skilled professionals to manage and optimize healthcare operations within the area.
Salary Overview
The average Medical and Health Services Managers in Richmond, VA earns+4.2%above the national average.
$68.7
$2,749
$11,914
Medical and Health Services Managers Salary Trends (2020-2024)
While specific historical data for Richmond is not provided, it is reasonable to assume that salaries for Medical and Health Services Managers in the area have experienced consistent growth over the past four years, mirroring national trends. Factors such as increasing healthcare complexity, an aging population, and advancements in medical technology typically drive up the demand for experienced management professionals, leading to upward pressure on compensation.
Medical and Health Services Managers Salary Distribution in Richmond, VA
The earning potential for Medical and Health Services Managers in Richmond, VA, escalates significantly with experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with extensive leadership experience and specialized skills can command salaries well above the average. The percentile gaps in salary distribution clearly signify a strong career progression path, rewarding accumulated expertise and demonstrated success in healthcare administration.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $77,390 | $37.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $107,228 | $51.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $125,780 | $60.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $178,713 | $85.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $214,455 | $103.1 |
Detailed Medical and Health Services Managers Market Analysis
Relocation Context
Nominal Salary
$142,970
Gross Pay
Real Wage (Purchasing Power)
$142,970
Adjusted for COL (100)
The average annual salary of $142,970 for Medical and Health Services Managers in Richmond, VA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of this salary is equivalent to the national average, allowing professionals to maintain a comparable standard of living without financial strain due to higher local expenses.
Job Market Context
1,750
Total Jobs
2.686
Per 1K Jobs
0.73
Location Quotient
Richmond, VA has 0.73x the national average concentration of Medical and Health Services Managers jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
With a location quotient of 0.73, Richmond, VA, indicates a job market for Medical and Health Services Managers that is slightly less concentrated than the national average. This suggests that while the profession is well-established, there may be fewer candidates per available position compared to more saturated markets, potentially offering a competitive edge for qualified individuals seeking employment or career advancement.
Nearby Job Markets
Nearby Cities for Medical and Health Services Managers
Comparing salaries near Richmond, VA
Hiring Medical and Health Services Managerss?
Frequently Asked Questions
How much does a Medical and Health Services Managers make in Richmond, VA?
The median annual salary for a Medical and Health Services Managers in Richmond, VA is $142,970. This typically ranges from $77,390 for entry-level positions to $214,455 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Richmond, VA is 4.2% higher than the national median of $137,170.
Is Richmond, VA a lucrative place for Medical and Health Services Managers?
Yes, Richmond, VA offers a lucrative environment for Medical and Health Services Managers.The average salary of $142,970 significantly exceeds the national average, and with a cost of living at the national average, professionals can expect strong purchasing power.
Is Richmond, VA a good place to live for Medical and Health Services Managers?
The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Richmond, VA?
Some top paying nearby cities include Southside Virginia nonmetropolitan area ($139,550) and Northern West Virginia nonmetropolitan area.
How does Richmond's salary compare to the national average for this role?
Medical and Health Services Managers in Richmond earn an average of $142,970 annually, which is higher than the national average of $137,170.
What is the cost of living in Richmond, VA for this profession?
Richmond, VA, has a Cost of Living Index of 100, which is exactly the national average, making the local salary highly competitive in terms of purchasing power.
How many Medical and Health Services Managers work in Richmond, VA?
There are approximately 1,750 Medical and Health Services Managers employed in the Richmond, VA area.
Is the job market for Medical and Health Services Managers in Richmond competitive?
The location quotient of 0.73 suggests a slightly less concentrated market compared to the national average, indicating a potentially favorable environment for job seekers.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,750 employees in the Richmond, VA area with a job density of 2.686 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Medical and Health Services Managers • Data source: BLS OEWS 2024 •Jobs in Richmond, VA