Is becoming a NP worth it? - page 11

Im very interested in getting an advanced practice degree sometime in my future. Im currently an ADN working on my BSN which will be done next year this time. Im really wondering if NP school is... Read More

  1. by   AlaBro2010
    Quote from AllIcanbe
    Is someone really going to apply for this job? I am sure office of the POTUS doesnt have as many requirements... !!
    I would totally apply for this job and that is because I have worked for FDOH before and the benefits are awesome!

    They pay your malpractice insurance, travel, and training. They allow you to use a state vehicle for training and pay your meals/hotel accommodations for trainings.

    In addition to that, no state income tax! You get pre-tax healthcare and retirement contributions among other things (pension plan). I paid $180 for family health insurance! That is PER month.

    I also know that the work is highly specialized and routine, especially in women's specialty clinics.

    Edited to add: For example, in the state I am in now, working for the state as an NP- benefits more expensive, there's an income tax, and the long term gains like in Florida are not there (less pension plan monthly payout) so an 75,000-80,000 here would be the same in the long term as a 60,000-65,000 salary.
  2. by   Goldenfox
    Malpractice, and travel/education for CEU, pre-tax healthcare and retirement contributions/pension plan in addition to base pay are standard fare when you apply for a job as an NP---unless you're doing contract/locum/1099 work and you negotiate a deal for much higher pay in lieu of benefits. The FDOH family HMO used to be $180, it is now $200---which still seems like a little bit of money, until you consider that its being deducted from a pretax amount of $5000 per month. No state tax in Florida because they pay you with sunshine, but let's look at some conservative numbers...

    @ 5 grand a month, and let's create a decent tax situation---say the NP is married and she has two kids and she's taking 3 allowances. Her FICA would be about $410, SS about $300, and Medicare about $70. Depending on her pre-tax deductions (retirement savings, etc. and including the $200 for the insurance) she'd likely be netting netting somewhere between $3500 $3900 a month.

    Now, she lives in a decent part of Fort Lauderdale and she has a family so she needs at least a modest 2-bedroom apartment. Knock about $1700 a month off the top for that. So now she's got, at best, $2200 left. A moderate amount of groceries for a small family, about $650 a month. She needs a car, let's put the note at about $275, and the insurance at about $100, and weekly expenditure on gas at $25. Now she's down to about $1000. Oh no! the cable bill is $175, and the light bill is $200, she has some credit cards and her minimum payments on all of them comes up to about $300. Student loan payments $200 a month. Cell phone $60. Her kids aren't old enough to be left alone at home by themselves so she needs to hire a sitter to stay with them after school till she get's home---about $10 an hour x 4 hours per day x 5 days. So that's about another $800 a month. At this point, she's broke and in the red by several hundred dollars a month, and there are other incidental expenses that I haven't included. But, the good thing about it is that our hypothetical NP has a spouse who is also working. Hopefully, after we deduct other incidentals from his pay he will not be broke at the end of the month also.

    My point is that south Florida is a much more expensive place to live than many other parts of the country not only because the pay is low but because it is sooo low in comparison to the high cost of everything there. Usually, in areas where pay is lower it is because the cost of living there is also lower. An NP who makes 50k to 60k more in a city like L.A. or NYC can still net more income in those areas than one who is earning $60,000 in south Florida---despite the state taxes. This $60,000 pay is about $25,000 lower than average pay for NPs in that area of Florida and they know it. They are offering that salary because there are NPs who will take it and say that it is a good thing. Sixty thousand a year, anywhere at all, for an NP is not a good thing. In fact, it is a very, very bad thing.
    Last edit by Goldenfox on Feb 2, '16 : Reason: spelling
  3. by   Sully64
    Thats a lot of information!
  4. by   danielle2000
    I think the problem is not being able to make the transition from bedside wage to NP wage!!! As a RN on the floor you know you earn every penny stomping that pavement, only to come home tired and wishing for a better night shift. I have been doing nursing for 16 years and I am done! I started my nursing career late and I have no intentions pounding more pavement in my 60s. As I see it you work smarter not harder. I do not live above my means nor am I strapped down with an over the top mortgage. I always felt living is far superior than existing. I think for some it is worth it. You cannot put a price on a piece of mind!