There is absolutely no requirement for nurses to be BSN by magnet except nurse managers, and the chief nursing officer must have masters. It is simply something hospitals says because job market is bad right now.
Don't worry about my username, it's old, before I start ripping some things, I'll soon be a BSN and already hold a BS, so I'm not turning this into ADN vs BSN thing. At the end of the day, get the BSN, but:
Roughly 60% of new nurses are ADN so ADN isn't going anywhere soon. If ADN programs shut down, there would be a massive nursing shortage crisis. (According to NCSBN, in 2012, there were 150,266 US educated that passed the NCLEX. 62,535 were BSN and 84,517 were ADN. The rest were Diploma program or something else)
I went ADN and ADN-BSN route because I will be far less in debt than if I went to some of these 4 year schools. The ADN program I went to is also arguably the best nursing school in the state too. Better than most of the 4 year institutions in IL.
And I am employed by a hospital, not a nursing home, but I was a PCT in fairness.
If you're young and 1st time to college and you have the means to do it, go 4 year route, fine. There is nothing wrong going ADN route though, but in this tougher economy hospitals can pick BSN's if they want. They don't have to pay them a dime more. The magnet thing is total bull. The real truth has more to do with not having to pay for completion.