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How Much Money Do Registered Nurses Make – How much does s earn? According to the Bureau of Labor Statistics, the average median wage for s is $77,600 per year or $37.31 per hour. But that’s just an average across s with different types of degrees, experience, specialties, locations, and oh, so many more factors.
To shed some light on this, we asked the community to weigh in. 3,000 Americans answered our salary survey, sharing where they are in their nursing careers, how much they earn, and a number of factors that contribute to what they earn.
How Much Money Do Registered Nurses Make
An important factor when talking about nursing income is to consider the state and city where you work. Some cities and states pay significantly less than others, and this is often determined by the cost of living in that particular area as well.
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At a high level, the biggest factor affecting your salary will probably be the type of nursing career you have. For example, a more entry-level role like a CNA will earn much less than an advanced practice registered as a practitioner or a CRNA.
If you’re starting out in nursing or looking to advance your career, you’re probably curious to know which types of jobs make the most money. Not all nursing careers are paid equally! Below are the top 5 highest paying nursing careers, but you can check out the full list of the highest paying nursing jobs.
Another big factor in how much you earn as one is what degree or certification you have.
Although the BLS does not distinguish between people who have earned an Associate’s Degree in Nursing (ADN) and those who have earned a Bachelor of Science in Nursing (BSN), the degree you have does affect how much you can earn!
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Among the ADN and BSN prepared s we surveyed, we found that BSNs earned an average of $3.89 more per hour than ADNs!³
S with a master’s degree have an opportunity to earn significantly more money in their careers. At the MSNs we surveyed, the average hourly salary was $52.61 and the average annual salary was $131,309.
According to the US Bureau of Labor Statistics, the median salary for a master’s degree is $123,780 per year or $59.51 per hour.
DNPs and Doctors of Nursing are the highest level of nursing education. According to Payscale, people with a Doctor of Nursing Practice (DNP) earned an average base salary of $107,000 as of June 3, 2022.
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S across the board start their career at a lower paid salary than a more experienced RN. Among the s we surveyed, the average hourly wage for new s was $29.04.
As a newbie gains experience on the job, they will also move up in salary accordingly. Hourly wages increased with years of experience for all of those we spoke with, with the average wage for someone with 20+ years on the job coming in at $41.14 — $12.10 more per hour than someone early in their career!
While specialty, degree, where you work and a number of other factors certainly play a role in how much you earn, experience will always be a factor.
The US Bureau of Labor Statistics states that 13.3% of those registered are men, a significant increase from 2.7% in the 1970s.
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Interestingly, although nursing is still a mostly female-dominated profession, there is evidence that men earn more than women for the same work – even when controlling for differences in career trajectory and on-the-job experience.
A study from the University of California San Francisco found that men earned about $5,000 more per year than their female counterparts in the same job.
Our own study confirmed this finding, with male respondents to our survey reporting that they earned an average of $2.73 more per hour than their female counterparts.
As a , your hours aren’t always cut and dry. In addition to full-time versus part-time, s can also work per diem or on contract.
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Per Diem Nursing: Per diem literally means “for the day,” which makes sense since these are people who work on call. They get to choose their schedule and don’t have to meet minimum shift requirements.
Contract Nursing: Contract nursing is similar to day care, except you will work a set number of hours throughout your contract with a hospital or facility. This will guarantee you the stability of full-time hours and benefits, but you may have to work weekends or holidays and you have less flexibility than a per diem.
Among our respondents, contract nursing was as popular as per diem nursing, with 4% stating they worked as a contract.
RN salaries also vary depending on your specialty. According to the s we surveyed, the highest paying specialty was OR, where s earned an average of $51.47 per hour. The next two highest paid were endoscopy at $43.68 per hour and ICU at $43.15 per hour.
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S are paid either an hourly rate or an annual salary. Our survey found that most are paid by the hour.¹
In general, patients who work in direct patient care areas are paid an hourly wage. This includes ADN, BSN, MSN, NP, and DNP.
For example, if a patient care RN earns an hourly wage of $50 an hour, and they work 12-hour shifts, they will earn $50 x 12 = $600 per shift.
However, those moving into administrative roles are usually paid. This means that they are paid a predetermined, fixed amount of money by the institution where they are employed.
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For example, if an RN earns a salary of $80,000 per year to work as a unit manager for an intensive care unit, they can divide their total annual salary by 12 months to figure out how much money they can expect to receive each month (which comes out to $6,666 per month).
In these circumstances, the total number of hours worked is not the most important factor. However, the expectation is still that they spend full time in the workplace.
In addition to a salary, some RN hospital administrators are often also incentivized with year-end bonuses in addition to their salaries.
For s, the basic salary is just the beginning. 96% of staff responded that they received some form of additional compensation.² This can be achieved in a number of ways, including overtime, shift differentials, stipends for associated nursing costs or bonuses.
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The most common form of additional compensation is overtime, with 34% of respondents reporting receiving it.
Overtime pay refers to hours worked by someone in excess of their normal weekly working hours. Full time for s is usually 36-40 hours per week. Anything over that is “overtime”.
Most institutions will offer time and a half or double pay for overtime or holiday hours. So making $50 would make $75 or $100 an hour for each overtime hour worked.
It is also one of the reasons why some people want to work on holidays like Christmas or Thanksgiving. They have an opportunity to increase their paychecks by working the same number of hours they usually do.
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Getting paid more for shift differences is also common. 24% of those we spoke to said they received extra money for this.
A shift differential is additional hourly pay for those who work shifts that are considered less desirable to work, such as intermediate shifts, graveyard shifts, or weekend shifts.
A shift difference can also help encourage them to work those shifts and ensure adequate staffing. In many cases, s will work a certain number of weekend or night shifts anyway. Still, the shift difference helps them feel more appreciated for working hours they wouldn’t have chosen to work themselves. It can also help with retention in some cases.
A shift differential can be anywhere from $2 to $8 per hour, which can add up to a significant pay increase at the end of a shift.
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Some who have worked night shifts for many years are hesitant to switch to day shifts because they don’t want the pay cut they would take by switching to non-differential day shift times.
Bonuses can be earned at the end of the year, or for other reasons such as accreditation, retention, picked shifts, specialties, performance and even COVID-19.
In some cases, administrative RNs are incentivized through year-end bonuses to find ways to save hospitals money by switching to lower-cost products, lowering hospital infection rates, increasing patient satisfaction scores, or improving patient outcomes in some way.
Each institution sets their bonuses differently depending on what financial and patient care goals they are striving to achieve.
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Many people wonder if they should negotiate their salary or not and it is especially difficult for newbies to know how to navigate this. That’s why we asked our community to weigh in. Here’s what you had to say:
2. Recruiters will always tell you that they follow a grid or pay scale and that they cannot negotiate (lies – everything is negotiable). If you can present value that you bring to the table that benefits them ESPECIALLY
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