How Much Does A Nurse Practitioner Make? For American workers seeking a developing field with competitive wages, higher job satisfaction, and promising stability in the years to come, becoming a nurse practitioner can be an auspicious option.
Nurse practitioners (NPs)–advanced practice registered nurses (APRNs) who typically hold graduate degrees–collaborate with doctors and other healthcare providers and might specialize in a kind of care (e.g., neonatal, adult-gerontological, women’s health, psychiatric mental health, midwifery, etc).
Regardless of the subfield, 1 thing is for certain: of all employment sectors, health care is fastest growing and among the highest paying.
By illustration, the Bureau of Labor Statistics (BLS 2015) reports that the five fastest growing businesses in the country are all related to health care much faster than the average growth projected for all occupations during that time period (7 percent).
Additional nurse practitioners make a mean yearly salary of $97,990 (BLS 2014), more than double the average salary for all occupations at $47,230 (BLS 2015). Salaries for these healthcare professionals tend to vary by region, specialty, education, expertise, and demand.
Continue reading to discover how much MPs earn, as well as how NP salaries vary by experience, region, and specialty.
While many sectors of the American economy have reported wage stagnation or declines, nurse practitioners continue to make salary gains, even newcomers to the profession.
In fact, the American Association of Nurse Practitioners (AANP 2015) reports that the total yearly income for fulltime NPs has increased 10 percent since 2011.
It’s not surprising that the AANP’s National Nurse Practitioner Compensation Survey (2015)–a research study of self-reported data from more than 2,200 nurses throughout the nation–found that wages tend to vary by experience. Here are the average base salaries of all reporting NPs recorded by years of experience:
21 or more: $106,669
From the same survey, here is the average total compensation (i.e., base salaries plus bonuses and other extras bestowed by companies) of all surveyed NPs by experience:
The Bureau of Labor Statistics (BLS 2014)–a branch of the US Department of Labor which makes employment and salary figures publicly available–has created a geographical profile for NP wages, levels of employment, and job concentrations across the country.
New York: $104,510
Salaries for NPs not only change by experience and area, but they also vary by specialization. Because of the nature of data collection and surveying, there are a few differences in precise annual average salaries for each subfield, but there are consistencies among the most lucrative reported.
Across the board, mental health nurse practitioners and certified registered nurse anesthetists appear among the best compensated NPs.
The Bureau of Labor Statistics (BLS 2014) reports that nurse practitioners make considerably more than the average annual salary for all occupations, $97,990 and $47,230 respectively. Here are the average salary ranges across 122,050 NPs in the US:
10th percentile: $68,830
50th percentile (median): $95,350
90th percentile: $131,050
Here are the hourly salary ranges for all NPs:
10th percentile: $33.09
50th percentile (median): $45.84
90th percentile: $63.01
So what would be the top-paying industries for NPs? Interestingly, although offices of doctors employ the most NPs in 57,100, they’re not among the top-paying. Here are the most lucrative places of employment for this profession recorded with the mean annual wages:
Personal care services: $118,080
Specialty hospitals (excluding substance abuse): $114,410
Business, professional, labor, political, and similar organizations: $111,400
Employment services: $108,730
Medical and diagnostic laboratories: $106,520
Finally, the AANP’s (2015) National Compensation Survey for Nurse Practitioners goes into additional detail and found that one of more than 2,200 NPs responding, these were the top-paying configurations for NPs (recorded with average base salaries):
Retail Clinic: $109,917
VA Facility: $108,357
Psychiatric/Mental Health Facility: $103,012
Hospital Inpatient Clinic: $102,578
Occupational Health Clinic: $102,234
Emergency Room/Urgent Care: $100,180
A nurse practitioner has a very involved job which needs an in-depth knowledge of medical terminology and processes in addition to the ability to handle patients of all races, classes, and backgrounds. The position of nurse practitioner can vary based on the actual sort of nursing being performed.
This can also contribute to differentials in salary also. If you’re interested in a career in this field, it’s quite important to understand the different types of positions available in addition to the many benefits and differences in salary possible.
Generally speaking, a nurse practitioners perform and practice the duties of a medical nurse. But within this job are a number of different sub-types that permit you to pick a more specified field. A pediatric nurse practitioner mainly deals with the health needs of children.
The patients usually range in age from babies around the teenage years. Children need more particular care, so these nurses must understand the medical needs of children versus adults.
On the opposite end of the spectrum there are mature nurse practitioners, who treat patients from the teenage years up to old age.
Some nurse practitioners also specialize in geriatric care, that’s the maintenance for senior/older adults. This also requires completion of a specialized program designed to deal with elderly and aging patients.
A women’s health professional concentrates on the health related needs of girls. These nurses deal with aspects of women’s health such as female cancer screenings, reproductive issues, and other health issues that directly relate to girls. Another aspect of this profession is midwifery.
A midwife is a nurse who specializes in dealing with pregnant women, and offers health related advice and medical assistance for women that are trying to have a baby or who are now with child.
They often help the OBGYN in assisting the mother get to a complete and healthy pregnancy and follow through with delivery also. T
here are also psychiatric and mental health nurse practitioners, who help the psychologist or psychiatrist in dealing with their patients. Just like all of the other categories for nurse practitioners, this requires an intense knowledge within this particular field.
Since each branch of the medical field differs, and every aspect requires different levels of education and experience, the pay scale for nurse practitioners will be different.
The average salary of a nurse practitioner for those in specialty care is approximately $70-$80,000 annually, and about $50,000 for nursing home caregivers and people working in home health care.
This is the national average, but it can vary from state to state and also vary depending on the sector worked. This job comes with a variety of excellent benefits including paid sick leave, holidays off with pay (in some cases), and of course, higher quality and affordable health care for themselves and family members.
Some employers also provide nurse practitioners a discount on things like medication and other health related services as needed.
The top pay salary of a nurse practitioner could be over $100,000 annually. In most cases this is due to years of experience, receiving a nurse practitioner degree at a highly esteemed and respectable university, or by acquiring a position that permits the nurse practitioner to work together with physicians who are highly specialized.
Overall, the nurse practitioner salary by state still varies, but the cover is fairly high and is comparable to the skills necessary to do the job properly.
For people who truly love their jobs, it is a career path that is fulfilling and satisfying. The salary of a nurse practitioner make is part of the motivation for individuals choosing this endeavor, but it only comprises a small part of the total dedication that most nurse practitioners need to their physicians, their hospital, and above all, their patients.