EMS is several years into a retention and recruitment crisis that pre-dates the COVID-19 pandemic. Several factors have contributed to the crisis, such as inadequate reimbursement, low community support and poor leadership. One of the rallying cries to move our industry forward has been that paramedics need to be paid a living wage.
A living wage, according to the MIT Living Wage Calculator, is the “local wage rate that allows residents to meet minimum standards of living.” The calculator adjusts for regional cost of living differences and can be searched by state and county. The living wage in my Wisconsin county for a single adult with no children is $14.19/hour. To meet the minimum standards of living in my rural location, two adults (one of whom is working) with two children would need to make $30.44/hour.
This Fast Company article, “6 ways to better compete for talent in 2022,” introduced me to the thriving wage.
The article explores priorities for companies seeking to retain and hire personnel during the great resignation. The article explores the importance of streamlining the hiring process, showcasing diversity, equity and inclusion successes, and building a healthy work culture.
Recent paramedic job listings range from $15 to $40 per hour. But, depending on location, is that pay just enough to live? Or is it enough pay to thrive?
What is a thriving wage?
A thriving wage is the combination of compensation and benefits that increases retention and reduces the risk of top performers chasing signing bonuses and higher hourly pay, in and out of EMS. A thriving wage in EMS is the minimum annual salary that allows a paramedic to:
- Pay for daily expenses of shelter, food, utilities, transportation and child care
- Build up an emergency fund of at least $1,000 for unexpected financial emergencies
- Contribute enough to a retirement account or pension fund to at least get the full employer match
- Save for a big purchase, such as a house
- Have enough left over to have some fun on their time off
As compensation is more than take home pay, a true thriving wage for paramedics should also include these benefits:
- Health insurance with affordable premiums and deductibles
- Paid time for in-station or online training, as well as in-person attendance at professional development events
- Tuition reimbursement towards higher education
- Paid time off and sick leave
- Maternal and paternal time off for the birth or adoption of a child
- Financial planning and career coaching
A thriving wage is one that is attainable and earnable through a single job’s regular work hours. It is nearly impossible to thrive by working excessive amounts of overtime or multiple jobs.
Greg, are you really this out of touch?
Many of you might think these criteria for a thriving wage are pie in the sky wishful thinking and won’t come true any sooner than unicorns skipping across rainbows. Your critique is fair, but I don’t want you to settle for a living wage, the minimum pay needed to survive. Instead, have an audacious goal that you and all paramedics are paid a thriving wage. You’ll never get where you are going until you decide where you want to go. Be audacious and thrive.
Read more:
- Unhappy or unsatisfied with current job; use these tips for a successful EMS job search
- 5 ways to enhance your EMS career prospects
This article, originally published in January 2022, has been updated.
