If you’re asking “how much do nurse practitioners make?”, then you’re likely considering the occupation as a career. This article takes an in-depth look at job growth and salaries of nurses over the next decade.
Nurse practitioners play a critical role in the healthcare field by filling the gap between support staff, like registered nurses and physician assistants, and medical doctors. NPs must complete further education than any other type of nurse, and are capable of performing many of the same duties as a physician. With the expansion of healthcare coverage and an aging population, more nurse practitioners are sought after today than ever before.
If you’re considering a career in healthcare, now is a great time to consider becoming a nurse practitioner. As new patients gain coverage and flood hospitals, the demand for NPs will continue to rise over the next decade to fill the gaps in care left by the current physician shortage.
How much a nurse practitioner is paid can vary dramatically depending on several factors, including location, age, experience, education, skill-level, type of position and several others.
As represented in the graph below, nurse practitioners without any further specialization can expect to earn a median hourly wage of $47.40, or $98,600 per year.
However, you can directly influence your income directly by specializing in a particular area, doing consulting work, or working as a contract or self-employed NP.
In order to become a nurse practitione, students must pursue bachelor of science degree in nursing (BSN) which will generally take 2-4 years of your time and follow its completion with a Doctor of Nursing Practice degree, or D.N.P. The return on investment for NPs will ultimately vary based on the individual, their circumstances, and whether they intend to complete a specialized degree program.
A major factor in determining what your salary may look like is the location in which you plan to work. However, this principle applies to nearly all occupations largely due to the varying cost-of-living rates across the country.
Employers must pay workers residing in states like Alaska more than those in Mississippi as are willing to pursue a career which requires years of education only to make a lackluster wage for their area.
The Bureau of Labor Statistics collects salary and employment data for nearly all positions, nationwide. The following table ranks all 50 states from the highest to lowest paying for nurse practitioners:
*Location quotients serve as a statistical representation of the concentration of a resource, like jobs, with a broader base area.