Accelerated BSN or traditional BSN

Zyprexa_Ho · Mar 26, 2016

I don't have any specific advice for your situation, but I want to remind you to factor in the opportunity cost. One option may be more expensive upfront, but if it gets you to work a year earlier, that's a whole extra year's salary you have to figure into the mix. For example, if the ABSN program is $60,000 but the 3 year total wait to work option is only $20,000, it may still make sense to do the ABSN program if you have 1.5 years of extra work experience. Let's say you'll start off making $50k per year.

Option A would be -$60k + +$75k = +$15k + whatever money you make during those three years working before becoming a nurse

Option B would be -$20k = -$20k plus whatever money you make during that time

mishamo · Mar 26, 2016

I was just about to start this calculation. It might end up be equally expansive over the course of time but I surely could start working somewhere at least 1.5 years earlier.

203bravo, MSN, APRN · Mar 26, 2016

I don't have any specific advice for your situation, but I want to remind you to factor in the opportunity cost. One option may be more expensive upfront, but if it gets you to work a year earlier, that's a whole extra year's salary you have to figure into the mix. For example, if the ABSN program is $60,000 but the 3 year total wait to work option is only $20,000, it may still make sense to do the ABSN program if you have 1.5 years of extra work experience. Let's say you'll start off making $50k per year.
Option A would be -$60k + +$75k = +$15k + whatever money you make during those three years working before becoming a nurse
Option B would be -$20k = -$20k plus whatever money you make during that time

+ the cost of moving across the country + the cost of running 2 households + the cost of the strain on the marriage

In the reality of everything 5 semesters is not that long - but I do understand the frustration about thinking about having to wait until you get onto your professional career... but don't only look at the numbers without considering the other "costs" that would be involved.

Best of luck.

mishamo · Mar 28, 2016

Thank you all for your response, I think I need to make some pro/con lists to see what makes sense.

I am an economic orientated person so I hope that will help me to make a decision.

PA_RN87, BSN, MSN, RN, APRN · Mar 28, 2016

I may have missed it, but did you say what state you're currently in? There's an accelerated BSN program in northwestern Pennsylvania that's only 3 semesters.

mishamo · Mar 28, 2016

I am in Minnesota. My desperation level rises so I might have to look for out of state. We have 2 programs here St. Scholastica and Northwestern St. Paul but both start in Fall if I am not mistaken which would be a wee bit late for me since I would have to apply for Fall of next year.

elkpark · Mar 28, 2016

I wouldn't give too much weight these days to "opportunity cost." It's not uncommon these days for new grads to spend a long time, even as much as a year or more, looking for a first job. You can't just assume that you're going to get a job fresh out of school and would therefore make $XXX during the time that you would be in school for the longer program. You might spend most or all of that time job-hunting.

If you're living somewhere with an inexpensive, "very good" BSN program at a local school to which you already have connections, I would be inclined to say that a bird in the hand is worth two in the bush.