Entry-Level Medical Billing and Coding Specialist Salary in Faribault, MN: $12,110 (2026)
Quick Answer:New medical billing and coding specialists entering the Faribault, MN job market in 2026 can expect a starting salary around $12,110 (BLS 10th-percentile benchmark for SOC 29-2072, projected from 2025 OEWS data). Stripping out Faribault's local price level (BEA RPP 98.5 — 1% below national), a first-year paycheck buys what $12,294 would in average-cost America. Most reach the city median ($16,378) within a few years of clinical practice.
Based on BLS state-level estimates · View source
For new graduates entering the field of medical billing and coding in Faribault, Minnesota, the anticipated starting medical billing and coding specialist salary in 2026 is $12,110. This figure is significantly lower than the city's median annual salary of $16,378, reflecting the competitive nature of this entry-level position. However, early-career professionals can expect a gradual increase in pay, with the potential to climb to $13,879 at the 25th percentile and up to the median within their first three to five years. Given the 2.32% annual growth rate, the Faribault market offers a modest opportunity for new entrants, especially as they acquire experience and skills in coding systems underpinning this industry.
About the Faribault Market
Salary estimated from Minnesota average ($54,000) adjusted for local cost of living.
Career Earnings Timeline in Faribault
New Graduate
Early Career
Mid Career
Experienced
Salary progression estimated from BLS percentile data. Actual progression varies by employer, certifications, and specialization.
2026 Salary Percentile Distribution in Faribault
Entry-level medical billing and coding specialists in Faribault, MN typically start between $12,110 and $13,879 per year (2026 est.). The full salary range spans $12,844 from the 10th to 90th percentile, with the local median at $16,378 — 46.03% below the national median.
Return on Investment
The average medical billing and coding program cost in Minnesota of $4,200 represents just 34.68% of the starting medical billing and coding specialist pay ($12,110/year) in Faribault. Most graduates begin earning back their investment from day one, though actual ROI varies based on living expenses, loan interest, and the 2-year opportunity cost of schooling.
Program cost estimates based on AHIMA/CAHIIM-accredited coding and health information certificate programs plus AAPC-approved training courses. Certificates at community colleges and online training programs are the most affordable; associate degree programs cost more but broaden career options. Exam fees (CCA, CCS, CPC) are typically $299-$499 and are separate from tuition.
MBS Salary Negotiation Tips for New Graduates in Faribault
- 1Research the Faribault market: entry-level medical billing and coding specialist pay ranges from $12,110 to $13,879, so aim for at least the 25th percentile if you have strong credentials.
- 2Highlight any additional certifications or specialty training within the medical billing and coding field — employers in MN often pay a premium for expanded scope of work.
- 3Evaluate the full compensation package — in Faribault, benefits like health insurance, continuing-education allowances, and schedule flexibility can add 20-30% to your effective compensation.
- 4Consider starting with a larger hospital system or multi-site employer in Faribault for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Faribault's moderate cost of living means your starting salary goes further here compared to many larger metro areas.
Medical Billing and Coding Specialist Compensation Range
The medical billing and coding specialist wage spread in Faribault is $12,844 ( 106.06%) between entry-level and top earners. Starting at $12,110, experienced hygienists can earn up to $24,954.
Represents the current salary spread across experience levels, not projected career growth rate.
2021 BLS Actual
$9,414
2025 BLS Actual
$11,835
2026 Current Est.
$12,110
2021–2027 Growth
+31.6%
Salary Trajectory for Medical Billing and Coding Specialists in Faribault (2021–2027)
2021–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 2.32% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2021 | $9,414 | Actual |
| 2022 | $10,143 | Actual |
| 2023 | $11,221 | Actual |
| 2024 | $36,538 | Actual |
| 2025 | $11,835 | Actual |
| 2026(current) | $12,110 | Estimated |
| 2027 | $12,391 | Projected |
Entry-level medical billing and coding specialist compensation (10th percentile) in Faribault, MN grew 25.7% over 5 years based on actual BLS metropolitan area surveys, rising from $9,414 in 2021 to $11,835 in 2025. By 2027, starting salaries are projected to reach $12,391. New graduates entering the Faribault job market can expect continued year-over-year gains.
Note: Historical values (2021–2025) are actual BLS OEWS figures for the Faribault metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 2.32% CAGR derived from 5-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Starting Your medical billing and coding Career in Faribault
A variety of employers in Faribault actively hire recent graduates for entry-level roles in medical billing and coding. Third-party coding companies and payer coding audit teams are known for recruiting CPC-A (apprentice) coders, providing structured mentorship to help new professionals grow. Physician group practices and outpatient ambulatory surgical centers commonly offer entry-level CPC roles, while those aspiring to work in hospital inpatient coding will need a CCS credential. Obtaining certifications from AAPC or AHIMA, such as the AAPC CPC or CCS-P, can significantly impact starting pay in Minnesota. It's also beneficial for new coders to focus on areas of growth, like risk adjustment coding, which has gained prevalence since the shift toward remote work. With the evolving landscape necessitating proficiency in ICD-10-CM and CPT updates, first-year salaries can realistically range from the lower tier toward the median as coders build their credentials and expertise.
More salary data for Faribault, MN:
Frequently Asked Questions
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Written by Amina Patel, CPC
Career Analyst
Amina has 10 years of experience in medical billing. She specializes in outpatient coding for multi-specialty practices.
Methodology & Data Source
Entry-level salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The 10th percentile (entry-level) is used as the starting salary benchmark for new medical billing and coding graduates. A 2.32% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to project current 2026 entry-level compensation in Faribault. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Faribault is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 2.32%, derived from historical BLS wage trends for medical billing and coding specialists (SOC 29-2072).
Compiled and verified by Amina Patel, CPC, a licensed medical billing and coding specialist with 10+ years of clinical experience. · View source data at BLS.gov