9 important things we learned from last year’s Practice Manager Salary & Bonus Survey

Join other Practice Manager’s in taking FPM Practice Manager Salary Survey 2015 here 

The Practice Manager Salary & Bonus Survey 2015 is now underway, with hundreds of Practice Managers already taking part in the survey. We learned a lot from the survey last year, so we decided to breakdown the 9 most important lessons we learned from 2014’s survey…

1. Practice Managers still earn a higher than average salary...

As expected, Practice Managers were still shown to be earning, on average, more than the median gross annual earnings for full time employees across the UK. The average UK wage (for those who had been in the same job for 12 months) had increased from 2013 to 2014 by 0.7% to £27,200. Meanwhile, the average Practice Manager’s annual salary came in at £39,225.

2. London didn’t have the highest salary...

The highest recorded average was for Practice Managers in the South with a list size between 25,001 and 30,000. At £66,050, this was almost £11,000 more per year than the second highest average which can be found in practices between 20,001 and 25,000 in the North.

3. ...and the North had the lowest

The lowest average wage in the past has usually come from small practices in Scotland, however the results from last year’s survey show the lowest wage in the North in practices with less than 2,000 patients. 

4. Overall the salary is decreasing

While the average UK salary increases, the Practice Manager’s is decreasing. However, the decrease is very small (1%). In 2013, respondents said they earned £39,486, that’s £261 a year more than in 2014

5. Many respondents were working overtime without extra pay

At least 18.5% of those that took part in the survey last year said that they often worked overtime and did not get paid extra for it. This is not technically against the law (unless average pay for total hours falls below the minimum wage), however too much overtime can be counter-active, lead to burnout and can still fall foul of working time regulations.

6. Bonuses also decreased

In 2014 bonuses were down £66.39 (16%) from 2013. One Practice Manager said they received just a £10 bonus and a whole 75.2% of those surveyed didn’t receive a bonus at all.

7. The highest bonuses were in Northern Ireland

The highest maximum bonus was found in Northern Ireland within practices with a list size of 30,001 and above. At £3,500, the average bonus was £2,000 more than in Practices of a similar list size in England.

8. Remuneration is going down in real terms too...

Many Practice Managers commented that a lack of pay rise and increasing tax and pension contributions meant that their take home pay was decreasing even when their wages weren’t.

9. ...but many Practice Managers still enjoyed their job despite the pressures and decreasing remuneration 

Despite the above, there were also many positive comments to be found from the salary and bonus survey last year. Many commented that they loved their job, could benefit from flexitime, time off in lieu or over 30 days annual leave. 

The Practice Managers Salary & Bonus Survey provides useful information for Practice Managers and Practice Partners, and we are pleased to announce that we will be running the survey again this year from September 2nd to October 28.

Join other Practice Manager’s in taking FPM Practice Manager Salary Survey 2015 here

© First Practice Management, 2015. Unauthorised use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited.

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