Registered nurses play a vital role in the healthcare of our society and due to their importance to the educational requirements which are necessary to become a registered nurse, the growing demand for experienced nurses as well as our personal health.
How much a registered nurse makes can vary from one state to the individual and next incomes can vary based on experience, education and numerous other factors.
This informative article will explore in depth they earn what they do and how much nurses make, the factors that go in their incomes.
Salary and hourly wages
The hourly wage for RN’s can range anywhere from$30 – $45 or more per hour of work.
Hourly wages are usually driven by various aspects of their career like their education level and nursing position, work experience, state of operation (i.e. average New York salary vs. average Wyoming salary), accumulated overtime, special bonuses and incentives, and many other factors.
In the U.S. RN’s can expect an average salary of around $66,500.
RN’s living in states which are rated in the lower 10% of income earners make closer to $54,500 annually, while RN’s living in states which are rated in the upper 10% make closer to $80,000 annually.
While while rural areas pay less, higher density populations like New York City and Las Angeles seem to bring in higher wages and salaries for registered nurses need for nurses within their area and do to a lower demand.
Wages for part-time nurses work than they do for full-time employees, in fact full-time hours and wages are determined by the employers.
What goes into a nurse’s salary?
One common question asked by many individuals who are unfamiliar with the work that’s involved in the area of nursing is, why do registered nurses make so much money?
This type of work requires years of expertise and training that has to be acquired through years of schooling and real world experience.
RN’s also provide patients with education and emotional support as a way to help them make better decisions and improve their lives.
They provide feedback on their recovery process, educate patients about their condition and answer any questions the patient may have regarding their condition.
Here are a number of the most come income factors that could affect an individual nurse’s salary:
- Experience Nurses which have acquired years of valuable experience are likely to get hired faster and make more money than inexperienced nurses.
2. Location The state/town a nurse operates in can have a big impact on their bottom line. Nurses which work in dense metropolitan areas for example may make more than nurses working in rural settings.
- Work hours simply put the more hours a nurse works the more money they generally take home. This could vary from one hospital or health care facility to the next depending on contractual agreements.
- Contractual agreements when a nurse is hired for a position he or she may negotiate their salary, benefits and healthcare coverage terms with their employer. Depending on the agreements which were made a nurses salary may be impacted from these contractual agreements.
While most people understand a number of the common factors which could add to the pay nurses receive (including experience and location) there are many other factors that are less understood?
To help bring some clarity to discuss several of the reasons why registered nurses make the things that they make.
Registered nurses earn incomes that are good
Let’s look in the factors that affects a registered nurses salary.
1) Supply and Demand
For starters the field of nursing that is registered is in high demand.
To be able to keep up with all the positions which are becoming available as our economy continues to grow and existing nurses retire it’s estimated that as many as 800,000 nursing jobs will need to be filled by the year 2020.
Simply put the demand for nurses is higher in relation to the supply of nurses which are available.
If there were a surplus of qualified registered nurses then the wages they earn would stabilize or even decline.
2) Competition to attract the best registered nurses
Some health care tend to offer the best salaries and benefits while this might not be the case for increased pay.
In some instances health care facilities may increase their wages so that they’ll hire the best professionals in the nursing field to compete with one another.
3) The demands of being a registered nurse
Not everybody is interested in dealing with all the responsibilities and becoming a registered nurse.
4) Overtime and bonus pay
Those who’ve worked as registered nurses know that overtime can be a common theme for a lot of health care facilities.
Staffing employees calling out, shortages, and unexpected increases in the number of patients being administered to a hospital as well as a number of other unpredictable factors can contribute to nurses working.
When you combine the number of hours registered nurses work with bonus and overtime pay they may make more money than other professions, it can become apparent.
5) The high cost of living
While some states may appear to offer their nurses salaries that are higher than others in lots of cases they have a higher cost of living.
In states where nurses appear to make $ 20 than other nurses the increased cost of living may nullify any financial gains that nurse would make from the increased pay.
6) Specialized fields, competition and increased responsibility
Nurse who work in specialized fields are known to make more money than general nurses.
These fields often require nurses to have advanced education and lots of work experience as a result of increased responsibilities associated with their field of practice.
While it might not be the case for each nurse individuals who work in fields where they have more responsibilities when it comes to patient care are compensated the best.
In other words the more medical and education expertise they’re able to provide their patients with the higher their wages will be.
Is a good deal really made by registered nurses?
While it may be enticing for some individuals to look in the salaries some registered nurses make and receive a fast judgment about it, it becomes more understandable once they know all the factors.
Nurses are paid well (or unwell depending in your perspective) because of all the work they put in their profession.
They’ve to maintain a persona that is positive no matter how bad things get and be able to work with other health care professionals to make sure each patient receives proper patient care.
Organizational skills, record keeping and continuing education courses are common responsibilities registered nurses must perform on a daily basis.