By Phil West, WCI Contributor

While a great number of jobs in the medical field require at least some level of college, the growing medical assistant field is one where people can enter straight out of high school—or even with a GED. Requirements vary by state, but for those looking to enter a medical career, being a medical assistant can be a stepping stone to something bigger, and it allows one to play a vital role in patient care while earning a decent salary that's been steadily increasing.

The US Department of Labor’s O*NET system defines a medical assistant as a person hired to “perform administrative and certain clinical duties under the direction of a physician. Administrative duties may include scheduling appointments, maintaining medical records, billing, and coding information for insurance purposes. Clinical duties may include taking and recording vital signs and medical histories, preparing patients for examination, drawing blood, and administering medications as directed by [a] physician.”

More than 760,000 people in the United States are employed as medical assistants in a wide range of healthcare settings. Here are some statistics detailing what medical assistants are currently paid on average.

 

How Much Do Medical Assistants Make? 

According to the Bureau of Labor Statistics (BLS) data from May 2023, the mean hourly wage for a medical assistant is just over $20 an hour—$20.84, to be exact. That puts the mean annual wage at $43,350. While the median is at $42,000, the BLS lists a range from $33,500 at the 10th percentile of the bell curve to $56,480 at the 90th percentile.

What medical assistants make depends on what kind of facility they’re working in and what kind of role they’re playing. More than half of the medical assistants in the US are employed by physicians’ offices, averaging $42,000. Salaries are a few thousand dollars higher on average ($45,760) at hospitals. The average is even higher, at $50,250 a year, at outpatient care centers. Those three areas together employ more than 80% of the medical assistants nationwide.

One field, scientific research and development services, brings $55,130 a year on average, though those positions are rare with only 650 registered by the BLS in its 2023 data.

As you might expect, wages also vary based on state. In California and New York, two of the five states with the highest employment level of medical assistants, mean wages in those higher cost-of-living states are $50,900 and $47,350, respectively. California is, per mean wages, the third highest-paying state, with only Washington (which requires licenses for all medical assistants) and Alaska higher, at $53,780 and $52,530, respectively. The other three of the five states pay considerably lower mean wages, with Texas at $38,870, Michigan at $39,840, and Florida at $40,530.

More information here:

How Much Money Do Doctors Make a Year? Salaries Rise (Slightly) But Not Enough to Satisfy Them

How Much Do Nurses Make?

 

What Is the Job Outlook for Medical Assistants? 

The job outlook for medical assistants is quite strong. According to the Bureau of Labor Statistics, the projection between 2023 and 2032 is for the field to grow by 14%, which the BLS terms a “much higher than average” level of growth.

It notes, “About 114,600 openings for medical assistants are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.”

According to the Medical Group Management Association (MGMA), the field has already experienced significant salary growth in the past decade, increasing nearly 42% between 2014-2023, with a nearly 21% percent increase coming between 2019-2023. That report called medical assistants “one of the most highly in-demand roles in recent years.”

More information here:

How PAs and NPs Can Make Doctor Money

Life and Financial Lessons from a ‘Bad Ass’ Nurse

 

How Much Education Does It Take to Become a Medical Assistant? 

Some medical assistants start straight out of high school, getting on-the-job training, but others opt for certificate programs or associate degrees.

Certificate programs, according to Stepful, can run from about $2,000-$5,000, and they are typically offered by technical colleges and even online programs. People going through those programs prepare for one of several different certification tests, and at the end of the process, they get one of several different certifications.

Typically, Certified Medical Assistants (CMAs) will make about 10% more than medical assistants who aren’t certified. That, though, depends on a number of factors. And while you can't take the exam unless you’ve completed an accredited program, three certifications are available even for those who haven’t gone to school. In those cases, full-time years of service substitute as follows:

  • Certified Clinical Medical Assistant (CCMA): One year of full-time employment as a medical assistant.
  • Registered Medical Assistant (RMA): Three years of medical assistant work experience out of the past seven years, working as a medical assistant instructor for five years, or one year as a medical assistant instructor plus three years working in healthcare.
  • National Certified Medical Assistant (NCMA): Two years of full-time employment as a medical assistant over the past five years

Stepful offers a four-month program costing as little as $1,800, geared toward the CCMA exam.

For those who want to become a medical assistant on the way to becoming a nurse or a physician’s assistant, getting an associate’s degree might be the route to go, though Stepful puts that price tag at around $10,000 and two years to complete.

Depending on the physician, a medical assistant who has their sights set on being a nurse might be a better choice, especially if that physician anticipates needing nurses on staff down the line. But save for slight variations in some states on injections, a medical assistant can effectively fill a number of roles in many different healthcare settings, and they can be a valuable part of a healthcare team.

The White Coat Investor is filled with posts like this, whether it’s increasing your financial literacy, showing you the best strategies on your path to financial success, or discussing the topic of mental wellness. To discover just how much The White Coat Investor can help you in your financial journey, start here to read some of our most popular posts and to see everything else WCI has to offer. And make sure to sign up for our newsletters to keep up with our newest content.