Nurses Helping Nurses
allnurses Network: Central | Jobs | Books | Newsletter
allnurses: A Nursing Community for Nurses
Home General News Blogs Articles Students Region Specialty Degrees F.A.Q.
Nurse Practitioners (NP) /

FNP or MBA?



Did You Know?
allnurses is the largest community for nurses on the web. We now have over 388,297 members! Join today to network with other nurses, laugh, share, and much more.

Oct 26, 2009 10:52 PM

FNP or MBA?


I am a Rn nurse with 15yrs. experience and make pretty good money (42.84/hr). I am interested in going back to school and if I go to the university that I work for, the tuition will be paid for. I can't decide whether to go back and get a MBA or become a FNP. I would go part-time and finish in 4-5 yrs. instead of 2 yrs.
Here is the thing. What kind of job would I be able to get with an MBA. I have been an Rn for 15yrs. with virtually no business experience. Plus it seems like everyone has an MBA now, a dime a dozen. However, can I make MORE money with an MBA vs. a FNP??
By the time that I finish with a FNP program, my base pay as a RN will be around 95-98K WITH good benefits. Plus, if I stay 15 more yrs, I can retire with a pension immediately and I will only be 54yrs. old. I need to stay at my current Rn job at least 20yrs to get a pension (albeit much less) and won't be able to collect it until I am 54.
It seems as though FNP's only make around 100K, so I am thinking why should I go back to school just to make what I am already making?? Honestly, I think all NP's should be making a minimum of 125K/yr. Anything less is cutting yourself short. I do feel that getting a FNP will allow me to move to different parts of the country and make good money (esp since I want to move from Chicago to Phoenix in the future).
I just don't know which route to take? Any advice?

James


Share

Search Tags
None
Top

 
Advertisement
Sponsored Links
 
Reply
4 Comments
No. 1
from traumaRUs
Old Oct 27, 2009, 06:28 AM

Default Re: FNP or MBA?
Hi James and welcome. I live in central IL and in my area the dual MSN/MBA degree is the way to go if you want to open all possible doors.

As to the salary, well you have to realize that much depends on the cost of living. In my little area, $100k goes pretty far. However, I know in Chicago, my little house (appraised at $223 south of Peoria) would go for well over $500k because I have an acre of land too.

Are you looking to go to school in Chicago?
Top
 
No. 2
from zenman
Old Oct 27, 2009, 08:16 PM

Default Re: FNP or MBA?
Probably depends on what you want to do. I don't want to do bedside nursing anymore so getting the NP is my goal whether I make more or not (but I will).

I have both an MSN and an MBA but do not want to do management anymore either. You can make more with an MBA...if you can find work...or create it.
Top

1 Reader Gave Kudos
 
No. 3
from Smitty08
Old Oct 28, 2009, 02:24 PM

Default Re: FNP or MBA?
Hi James!
Also think about what culture you want to be working in. I am an FNP/PMHNP who also has an MBA - it was a degree that I thought was right for me at the time (I was younger and didn't know myself that well!) I ultimately realized I didn't want to be working in that culture. I always liked the people I had worked with in nursing (well, for the most part...) Went back and finished my MSN. I'm very glad I did. I think I would have been unhappy in the corporate culture.
Good luck!
Top
 
No. 4
from BmoreCRNP
Old Oct 29, 2009, 07:57 PM

Default Re: FNP or MBA?
RE the salary thing. It really depends on what state/metro area you live in, and what specialty. I've heard that the Psych NPs make the most. The earning potential of NPs in certain specialties can also be high (i.e. those who do procedures and charge fee for service). In my metro area the average new grad NP salaries seem to be 75k-80k. I know a few RNs who decided against going back simply because they would take a significant pay cut. It wasn't a pay cut for me personally. I am actually making about 20k more than I was as an RN. So what does all my babbling really mean? It just depends.
Top
 
Reply




Thread Tools


Who's Online
371 members
4,137 guests
4,508

0

Interesting article on ThedaCare's Collaborative Care Model

2

Possible breakthrough regarding MS

44

16th Philly area hospital to stop delivering babies: Mercy...

7

Really interesting article on Indian open hearts

4

High-Tech Pump Does What Her Heart Can't

2

Air Force RN Force RN Found Not Guilty

15

Hospital Falters as Refuge for Illegal Immigrants

6

California Imposes Stricter Rules Regarding Drug Abuse In...

40

Are older nurses being forced out of the profession?

3

An outlook in California?



1

Society Needs Care Too

12

Why am I doing this, anyway?

2

Nurse Heal Thyself

9

My Papa, why I am the nurse I am today.

17

I made it through

11

An angel's gaze

15

A Sister Never Forgets

16

Ruby's Marbles

37

What Do Operating Room Nurses Do?

14

My Little Old Jedi

20

I love this job......

23

"I hear voices"

19

Preventing FRUTI (Foley Related Urinary Tract Infection) in...

24

Error and Attitude

10

It's Just a Shower





Currently Reading This Page: 1 (0 members & 1 guests)

Interested in the hottest topics of the week? Subscribe to the Nurse-zine Newsletter.
Enter email address: