Choosing between optometry vs ophthalmology goes beyond deciding how you want to help patients—it also means weighing two very different financial and professional paths. From years of training and education to differences in scope of practice and compensation, the contrast between these two eye care careers is significant.
Key Takeaways
- The optometry vs ophthalmology comparison shows major differences in income, education, and scope of practice.
- Ophthalmologists perform eye surgeries and treat a wider range of conditions, while optometrists focus on vision care and basic eye health.
- The educational and training journey to become an ophthalmologist is more demanding and costly than that of an optometrist.
- Understanding these financial and career path distinctions is vital for prospective eye care professionals to make an informed career choice in optometry vs ophthalmology
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Optometry vs Ophthalmology Salary Comparison
Arguably, the most evident difference between these two healthcare professions is the salary. According to the U.S. Bureau of Labor Statistics (BLS), ophthalmologists (excluding pediatric) earn an annual mean wage of $312,120. On top of that, physicians who work at freestanding outpatient or surgery centers are on the high end of the income spectrum with average salaries around $394,450 a year.
On the other hand, optometrists are left far behind when it comes to income.
Optometrists’ earning statistics provided by the BLS as of May 2024 reveal that their median annual wage is $134,830.The lowest 10 percent earned less than $70,060 a year, while the highest 10 percent of earners made over $203,210.
Reasons for the Higher Ophthalmologist Salary
As seen, the salary for ophthalmologists is much higher than for optometrists. The primary reason for this is the stark difference in their educational and training paths, as the former has to go through much more to become a practicing eye specialist. When comparing optometry vs ophthalmology, this difference in education and training directly impacts both earning potential and day-to-day responsibilities.
Optometrists are doctors of optometry, which typically requires a 4-year undergraduate degree in addition to another 4 years of professional study, followed by a licensing exam.
The average annual cost of undergraduate study is approximately $30,000, while a professional program can cost anywhere from $24,000 to $90,000 per year. Since education is paid upfront, the total cost of an undergraduate plus professional program for an optometrist might reach $500,000.
Ophthalmologists are fully licensed medical doctors, capable of treating all types of eye diseases. As such, they are qualified to perform eye surgery, in addition to being able to diagnose, treat, and prevent eye problems. The necessary education to become an ophthalmologist is even more extensive, which accounts for their higher income.
Optometrists’ shorter and less expensive study path in comparison to ophthalmologists makes them more attractive to some people. However, if you’re set on treating more serious eye problems and performing surgery on them, then you need to be prepared to invest as much as $1.5 million to become a doctor and start treating your patients.
Optometry vs Ophthalmology: Salary and Scope of Practice
In addition to their extended study, ophthalmologists’ salary is higher because of their broader range of capabilities. A typical ophthalmologist salary is complemented by surgical procedures that ophthalmologists can offer, like cataract surgery, LASIK, and multiple other retinal treatments.
On the other hand, optometrists typically stick to dealing with eye examinations, corrective glasses, and managing a selection of common eye diseases. While practitioners can still make a great living owning their practice, the income potential of optometry is less than ophthalmology.
Optometry vs Ophthalmology: Work Environments and Lifestyle
When considering optometry vs ophthalmology, it’s also important to compare how each profession differs in daily work environments and overall lifestyle. Although ophthalmologists earn much more than optometrists, their job is generally considered more challenging. A practitioner working in private practice or in one of the more specialized subspecialties will often be in charge of running the practice with heavy responsibility and must also perform delicate surgeries.
This can add to the level of stress experienced by ophthalmologists, even though the job itself is considered extremely rewarding.
Optometrists can usually expect more regular working hours and less stress from their work. They also have a higher chance of maintaining a work-life balance. They have a pathway to making a good living, and their work is easier to manage. The quality of life for both professions is generally very high, and depending on which career you choose, you can make a decent living and help a lot of people.
Take Your Optometry vs Ophthalmology Career Further with Efficient Financial Planning
Deciding between optometry vs ophthalmology requires a balance between personal interest and the potential income and financial stability each profession offers. Ophthalmologists can expect a higher income due to their ability to perform eye surgeries and treat a wide range of eye health conditions, whereas optometrists have a more straightforward career path with less financial risk.
Financial planning is crucial for professionals in both fields to ensure success and stability. Navigating medical school debt, practice expenses, and retirement plans are just a few of the financial challenges that ophthalmologists and optometrists will face during their careers.
At Physicians Thrive, we specialize in serving healthcare professionals to help them achieve their financial goals. We understand the unique needs of ophthalmologists and optometrists and offer personalized financial planning and investment strategies.
Contact us to learn how we can assist you in building a secure financial future and maximizing your earning potential.
