Nurse practitioners are one of the fastest growing segments in the nursing profession. With an aging population and a shortage of physicians, NPs are playing an increasingly vital role in the healthcare system. What is a nurse practitioner’s salary? Find out!
So what is a nurse practitioner? What do they do? And how much do they make? In this article, we will answer all those questions and more. We will discuss the job description of a nurse practitioner, compare RN and NP salaries, look at which states pay nurses the most, and explore the various specializations available to NPs. So read on to learn everything you need to know about nurse practitioner salaries!
What Is a Nurse Practitioner?
A nurse practitioner is a registered nurse who has obtained additional education and training in order to provide direct patient care. NPs are licensed to diagnose and treat illnesses, prescribe medications, and order diagnostic tests. They work in a variety of settings, including hospitals, clinics, schools, and private practices.
Nurse Practitioner Salary, U.S.A.
According to the Bureau of Labor Statistics (BLS), the average annual salary for nurse practitioners was $107,460 in 2018. Now it oscillates around $114,000. The highest-paid NPs worked in management positions at pharmaceutical companies and make an average of $65 hourly. Meanwhile, the lowest-paid NPs working in doctor’s offices earn an average of $90,000 per year. A family nurse practitioner will earn around $59 per hour.
Salary Range for RNs and NPs
In general, nurse practitioners make more money than registered nurses. The median salary for RNs is ca. $75,000, while the median nurse practitioner salary is $114,000. However, it is important to note that there is a great deal of variation in both RN and NP salaries. For example, some RNs working in management positions at pharmaceutical companies make more than the average NP. Meanwhile, some NPs working in doctor’s offices make less than the average RN.
Comparing Male & Female Salaries for Nurses
Research shows that there is no significant difference between male and female nurse practitioner salaries in various care centers. According to the BLS, male NPs make slightly less than female caretakers.
Which Nurse Practitioners Are in Demand? BLS Data
There is a great deal of demand for nurse practitioners across the United States. In fact, the BLS projects that employment for nurse practitioners is growing by 35% from 2016 to 2026, which is much faster than the average for all occupations. The most in-demand NPs are those who specialize in primary care. According to the American Association of Nurse Practitioners, there were more than 222,000 primary care NPs working in the United States in 2017. With more and more outpatients, not to mention Covid patients, the world undoubtedly needs health assistants with advanced practice.
Becoming a Nurse Practitioner
It typically takes six to seven years to become a nurse practitioner. This includes four years of undergraduate study, two years of graduate study, and one year of postgraduate clinical training. However, it is possible to complete the NP program in as little as five years if you have a bachelor’s degree in nursing.
There are many reasons to become a nurse practitioner. NPs enjoy a great deal of autonomy and can provide direct patient care without the supervision of a physician. They also make good money, with the average nurse practitioner salary exceeding $100,000 per year. Finally, nurse practitioners play an important role in the healthcare system and are in high demand due to the aging population and primary care physician shortage.
Nurse Practitioner Salary by State
The highest-paid nurse practitioners work in management positions at pharmaceutical companies in California ($145,970), Texas ($116,700), Oregon ($118,600), New Jersey ($130,890), and New York ($126,000). Meanwhile, the lowest-paid nurse practitioners worked in 2021 in doctor’s offices in Tennessee and Alabama ($99,790), Mississippi ($109,550), and West Virginia ($105,220).
The BLS does not report nurse practitioner salaries by specialization. However, the American Association of Nurse Practitioners and other sources publish a yearly salary survey that includes this information. According to their salary survey, the highest-paid nurse practitioners specialize in adult gerontology primary care. These NPs earn an average of $127,780 per year (2022). The lowest-paid nurse practitioners specialize in pediatric primary care. These NPs earn an average of $91,000 per year (2022).
Nurse Practitioner Salaries Compared. Time to Wrap It up
So what do nurse practitioners make? Nurse practitioner salaries vary by state, specialty and other factors. However, RNs and NPs have a higher earning potential than many other professions. With the growing demand for nurse practitioners, now is a great time to become one! We hope this article has helped you better understand the NP salary landscape and armed you with some good information to consider if nursing is right for you. Are you ready to take your career to the next level? If so, we encourage you to explore our website for other job information in the healthcare sector. Thank you for reading!