The average yearly salary for medical billing specialists was $31,602 as of 2015, according to PayScale. Salary largely depends on location and experience, and the pay can range from $28,000 to above $41,000 a year.
The median hourly wage in 2012 for those working in jobs classified under Medical Records and Health Information Technicians was $16.42, according to the Bureau of Labor Statistics. For those working in the Billing and Posting Clerks category, the hourly wage was $17.10. Densely populated cities tended to have pay higher salaries, with New York City, Seattle and Dallas paying higher than the national average. Medical billing specialists do not normally get large bonuses, but may have profit sharing opportunities available.