The median annual salary for an SLP is $80,480, which is higher than the $77,844 median for all employees with master's degrees. Since a master's degree can be costly in terms of time and money, it's helpful to understand how a career as an SLP may pay off during the first few years after graduation. As of 2019, ASHA reports that median wages for entry-level SLPs were $66,000 in inpatient and outpatient healthcare settings, specifically. Inpatient pathologists, especially those in private residential or nursing care settings, tend to earn the most. Meanwhile, in 2020, school SLPs at the entry-level tend to earn the lowest wages at $56,000. The BLS also reports that the top five locations with the highest annual mean salary range — $84,510 to $101,920 — are the District of Columbia, Connecticut, New Jersey, New York, and California. Meanwhile, the five lowest-paying regions are Puerto Rico, South Dakota, Alabama, Mississippi, and Maine, which have an annual mean salary between $51,430 and $69,250. Importantly, a major reason for these salary differences is the cost of living in each region — SLPs tend to earn higher wages in more expensive regions.