There is a nursing shortage in the United States and, according to the U.S. Bureau of Labor Statistics, the growth of this profession is anywhere from 16%-31% faster than most careers. The demand for MSN prepared nurses ranks at a high 31% and colleges and universities are increasingly focusing on nursing programs to help meet this demand. Many of the Advanced Practice Nursing programs are available online in order to allow nurses to continue to work and obtain a MSN degree. Best Medical Degrees has ranked 30 Most Affordable Online MSN Degrees, which lists programs by tuition cost, accreditation status, length of program and national rankings by U.S. News and World Report.
Using information provided by the U.S. Bureau of Labor Statistics (BLS) and PayScale, the salary expectations for MSN graduates are suggested below based on the student's concentration. The BLS categorizes salaries in broad categories and PayScale maintains a database of over 54 million salary profiles and compares data with both private and public data sources. Both sources are used here to provide you with general salary information.
What Is The Median Salary For A Registered Nurse?
It may depend on where you live. Bachelor's prepared nurses (BSN) average $68,450 per year, depending on where you live. Nurses in California, for example, may average $101,750 a year, while nurses in Mississippi may expect a salary around $52,380. Several factors enter into salary considerations such as rural vs. metropolitan areas, cost of living and the healthcare facility in which nurses are employed.
What Is The Average Salary For A MSN Prepared Nurse?
A lot of what you can earn as a MSN depends, in part, on your particular interests. Nurse Practitioners and Nurse Anesthetists may earn more than a Nurse Educator or Nurse Administrator; but, a MSN degree will typically increase your salary above a BSN or Associates nursing degree. MSN students are able to select from several concentrations in online MSN programs. These specialties include, but are not limited to, Nurse Anesthetists, Nurse Midwives, Family Nurse Practitioners, Nursing Informatics, Nursing Administration, Clinical Nurse Specialists or Nurse Educator.
MSN Nurse Anesthetists, Nurse Midwives, and Nurse Practitioners
The Bureau of Labor Statistics (BLS) estimates the earning potential for a MSN Nurse Anesthetists, Nurse Midwives, and Nurse Practitioners to average $107,460 per year in 2016. The BLS provides the breakdown by these specialties to be: Nurse anesthetists $160,270, Nurse practitioners $100,910 and Nurse Midwives $99,770.
MSN Nursing Informatics
Those specializing in Nursing Informatics may see salaries ranging from $66,812-$107,082 according to PayScale with the median salary being $$82,846.
MSN Nurse Educator
MSN Nurse Educators may earn up to $52,108-$96,801 with the average salary being around $72,290 annually, according to PayScale.
Clinical Nurse Leader
PayScale ranks the salary for Clinical Nurse Leaders to vary between $51,419-$100,987, dependent on location and experience.
MSN Nurse Administrator
Falling under the Bureau of Labor Statistics healthcare administrator category, nurse administrators may earn between $56,970-$172,240.
Salary is only one consideration when determining how much you may earn as a MSN. Its' not unheard of for hospitals, health systems, out patient clinics or private practices to offer bonuses to employees who advance their education. Other factors to consider are health insurance plans, paid leave or performance raises.