Interesting Facts About This Profession: Chiropractors

According to the Bureau of Labor Statistics, Chiropractors held 45,200 jobs in the United States in 2014. In May 2016, the median annual wage for chiropractors was $67,520, with the lowest 10 percent earning less than $32,800 and the top 10 percent earning greater than $141,030. Though most worked full time, approximately 1 in 4 worked part-time. Most chiropractors worked in a solo or group practice, but approximately one-third were self-employed while a smaller minority worked in hospitals or a physician office. DCs earn the highest average salary working in physician offices ($119,769) and hospitals ($110,228), while earning slightly under $80,000 working in a specialized chiropractic office. The most popular states to practice were California, Texas and Florida, each which had greater than 2,000 chiropractors in each state. Annual mean wages were highest in Rhode Island ($134,700), followed by New Jersey, Delaware, Alaska and Tennessee. The metropolitan areas with the highest areas of employment were located in New York City/Jersey City, Chicago and Los Angeles. The top paying metropolitan area was Colorado Springs ($171,570), followed by Miami ($168,280). Almost 90% of all chiropractors identified as White, while the next most common identified as Asian (5.6%). The mean age of male chiropractors is 44.8 while females are, on average, slightly younger at 40.6 years of age. A 2014 study suggested that 88% of new chiropractic graduates had between $100,000 to $175,000 worth of student debt, while another survey showed that 54% of graduates owe over $150,000 in chiropractic student loans. Despite these numbers, the future of the field appears bright as there is projected to be a 17% increase in employment from 2014 to 2024, while all occupations are only estimated to grow 7% during the same time. A significant number of chiropractors (baby boomers) are expected to retire and sell their chiropractic practice within the next 15-20 years. Chiropractic practices for sale in New York and California cost, on average, 27% higher than those chiropractic practices sold in other areas of the US. Most chiropractic practices sold were bought by other solo practitioners and large groups as opposed to recent graduates.


Citations:

  • 1. Bureau of Labor Statistics. Chiropractors
  • 2. Student Loan Planner. Chiropractor Student Loans are Back Breakingly High
  • 3. Data USA: Chiropractors

Chiropractic Practices for Sale and Office Space For Rent 

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