how do i max my income as new grad - page 7
need help from experienced RNs on how i might maximize my salary and earning potential when i graduate as RN in May. Is it negotiable, do you have to take what they offer? What is the highest... Read More
Jan 10, '07I should also mention that the loan pmts were figured with no money down. That was for full finance. In our state they offer "first time home buyer" loans (mobile home ownership doesn't count) which give you better interest rates (by about 2%), lower closing cost's (and can be set up as a second loan) and only require you to put $500-$750 out of pocket (this is usually to pay for the appraisal or something other that is a small amount and is counted as a down).
Figured I might add this information because as a new grad you most likely don't have anything (or not much anyway) saved up. I know I certainly didn't!!!
Jan 10, '07Quote from cyberkatI am just curious but does experience as an LPN make any difference? The starting wage where I live is less than what I already make as an LPN. I have worked as an LPN for 18 yrs and started at only $7.25 an hr to work my way up to $20. I would hate to take a cut in Pay esp after going thru The intense stress I have endured due to school full time and working full time. Not to mention the student loans I will have to pay back.You won't be eligible for OT until after your orientation. Make sure you get a good solid orientation.
PRN and agency jobs tend to go to people with at least a year's experience.
Working all those extra hours sounds good on paper, but it's really tough, especially when you're starting out.
I think the weekend shift-night would probably be the best thing for you. You work 24 hours and get paid for 36, which qualifies you as fulltime. Then you can pick up shifts during the week as you need it.
Jan 10, '07The hospitals in my area add $ to the RN new grad pay for LPN experience. For instance one hospital counts every 2 years of LPN experience as 1 yr RN experience.
So like in your case it would be tne new grad RN base + 9 yrs RN experience = your new grad pay as LPN-RN.
Jan 10, '07Thank You! whew I was getting scared there for a few minutes. The starting pay is around $17 an hour here in OKLA and at that pay I wouldn't be able to afford to work as an RN. Pretty sad to get more education and end up with a $3 cut in pay for the trouble. I guess I will get back to studying and finish this last semester.
Jan 10, '07Work nights and weekends. Take classes that the hospital pays you take. Also, check and see if there is a clinical ladder you can climb; some hospitals pay extra when you belong to committees, do research, do clinical rounds etc. Overtime helps alot, especially if its double time.. Also, ur manager may need help preparing when its JHACHO time; non productive hours add up 2 . (I wish the houses here were in that price range!!)
Jan 10, '07Congrats on making it through nursing school. I agree with the other comments...most salaries will be non-negotiable. I work weekends only, nights and that has upped my shift differential. My hospital also has OT bonus of $7.50/hour. Also, being ACLS certified adds an education differential to my salary. If you are planning on doing 3 twelve hour shifts, you might consider doing agency after you get some experience.
Jan 10, '07Before you jump the gun and start thinking dollars-I suggest you think about yourself! Being too gung-ho to make money puts too much stress on you and can result in a quick burn out. If you focus on your orientation and do well, the hours will come to you as you will be the first one they call to pick up shifts, believe me! After my orientation, I averaged 2 shifts a week overtime because I had the reputation of solid work and never said "no"!
Your excited and ready to graduate, but let the stress come in time-don't rush it! Just my 2-cents.
Jan 10, '07Doesn't matter how much you make, it's the cost of living that will get ya.
On L.I., the hospital my sister in law (RN) works for just renegotiated their contract. Starting salary, fresh out of school/no experience, with night different = $71,000. Even a state/county job which pays less, with at least 1 year experience, is around $58,000. My sister in law floats, she has a 2 yr degree, 10 yrs experience with maternity & works nights, she makes around $45 an hour regular pay (and sometimes get OT - around $67 an hour).
Nice pay, right?
Unfortunately, you'll never find a house for $150,000, maybe a condo or co-op though. Anything semi-decent in houses starts in the mid-200's and you're living in the boonies like me. Figure at least $350+ beyond that. Property taxes are gigantic (I pay $5500, my sister in law pays almost $10,000) Sales tax is 8.25% I think. Apartments in private homes can be had starting around $900/mo, in a complex you'll pay at least $1400 for a 1-bedroom plus utilities. You could find cheaper, but I don't think you wanna live there.
Check out some of the mortgage calculators online to see how much you'll be paying monthly (remember to figure in taxes + insurance).
Jan 11, '07Not sure if this was covered within the many replies to this, but another way to maximize is to choose Per Diem from the start. Although you sacrifice benefits and PTO, the difference can be as high as $7.00/hr. 1 year after graduating, I'm making $45.17/hr including differential as a per diem. California does pay well, but we also cannot buy a home in the area we live for <550K, and we are not living in a "ritzy" area.
Jan 11, '07Quote from traumaRUsI'm an RN, though now a stay-at-home parent while my husband does his grad year; I haven't found that weekend PMs/nights are any harder than week days since my schedule is essentially flexible. Only hard thing is how to keep a 2 year old from waking daddy after a night shift. (We go out a lot - LOL).lol
I agree that the way to max your income is to work weekend nights. Kinda yucky for families though. When I needed more $$$, I worked an extra 2 12 hour shifts. NOt too much fun, but we had bills to pay.
Jan 11, '07Private duty pays mega bucks especially in coastal areas. I live in NY and in the big cities you can make $75/$100 per hour.
Jan 11, '07I live in the Philly Suburbs and work 3 12's 7p-7a. Our new grad rate is 26.00 HR with a 3.50 shift diff. Not too shabby for two years of school.
Last year with reg +OT i brought in 62,000. When you comsider what we sometimes make pre RN< Im not complaining.
But like the previos post mentioned, cost of living factors in to that. You cant rent a decent apartment for <1000. However we were able to buy a house <$150,000 and hold two new car payments as well as have a single wide vacation spot in the mountains of PA. You can have anything you want within your means if you are careful.