With the inflation rate at the highest it's been in 40 years, and forecasts that interest rates might reach 2% in the coming year, the cost of living crisis is hitting the UK hard.
In the dentistry industry, inflation is significantly higher, at an excess of 11%. Lab costs are rising by 15%, and approximately 20% of dentists are experiencing utility price increases in excess of 50%.
“NHS profits are still lower than they were more than a decade ago in 2010“
The average salary in the field ranged from £25,000 to £49,999. However, just under 90% of dental nurses made less than this amount, calling into question the gender pay gap in the industry with almost 100% of nurses being female. Furthermore, full-time male employees are earning over £5,000 a year more than women in the same roles, a difference of over 18%.
According to the Dentistry Census, dentists’ general salaries ranged from £50,000 to £74,000 per year. In the next two years, almost three-quarters of dentists expect to practise less as part of NHS dentistry, while almost 85% expect to practise more as part of private dentistry.
Nick Ledingham, of Morris and Co, commented: “Whilst it may appear to be a big jump in profits of NHS practices, it is worth noting that NHS profits are still lower than they were more than a decade ago in 2010.”
Mohsan Ahmad, chair of Greater Manchester Local Dental Network, explained that “whether a private practice or NHS practice, efficiencies need to be made. As the landscape changes, dental practice owners need to look at economic efficiencies to ensure we are able to ride the wave of these challenges.”See all the latest jobs in Dental