Do Nurses Earn Big Money? You Decide.

The members of the public who are convinced that registered nurses earn huge salaries are like shrubs on the outside looking in because they do not know how much sweat and tears we shed for our educations, and they are unaware of the hazards many of us face during the course of a day at work. Nurses General Nursing Article

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  1. Do Nurses Earn Big Money?

    • 4743
      No
    • 553
      Yes
    • 344
      Not sure

5,640 members have participated

"You're rolling in the big bucks!"

Am I the only one who becomes at least mildly irritated whenever a random individual finds out that someone is a nurse and proceeds to say, "You're rolling in the big bucks!"

To keep things honest, I'll recall a few observations about the people who generally do (and don't) broadcast their feelings about nursing pay. In my personal experience, no doctor has ever told me to my face that I'm earning 'big money.' No engineers, attorneys, pharmacists, speech language pathologists, or other highly educated professionals have hooted and hollered about the supposedly 'good money' that nurses make once they discover that I am one. On the other hand, bank tellers, call center workers, clerks, and others who work at entry-level types of jobs have loudly made their feelings known about the incomes that nurses earn.

I was employed at two different fast food chains while in high school, and during my late teens, I worked a string of dead end jobs in the retail sector. From ages 20 to 23, I maintained employment at a paper products plant in high cost-of-living southern California as a factory worker and earned an income of about $40,000 yearly with some overtime. Of course I thought that nurses earned handsome salaries during my years in the entry-level workforce. After all, the average RN income of $70,000 annually far exceeded my yearly pay back in those days. Keep in mind that I paid virtually no taxes as a fast food worker because my income was so low. Also, I paid relatively little in the way of taxes as a retail store clerk.

Awash With Cash

Do nurses earn "big money"?Many of the certified nursing assistants (CNAs) with whom I've worked over the years have fallen into the trap of believing that the nurses are awash with cash. However, the ones that pursue higher education and become nurses themselves eventually come to the realization that the money is not all that it is cracked up to be. For example, Carla* is a single mother to three children under the age of 10 and earns $11 hourly as a CNA at a nursing home. Due to her lower income and family size, she qualifies for Section 8 housing, a monthly food stamp allotment, WIC vouchers, Medicaid, and childcare assistance. Moreover, Carla receives a tax refund of $4,000 every year due to the earned income tax credit (EITC), a federal program that provides lower income workers with added revenue through tax refunds. Much of Carla's CNA income is disposable.

Carla returned to school part-time, earned her RN license, and now earns $25 hourly at a home health company in a Midwestern state with a moderate cost of living. She nets approximately $3,000 per month after taxes and family health insurance are deducted as she no longer qualifies for Medicaid. She pays the full rent of $900 monthly for a small, modest 3-bedroom cottage because she no longer qualifies for Section 8. She pays $500 monthly to feed a family of four because she no longer qualifies for food stamps or WIC vouchers. She spends $175 weekly ($700 monthly) on after school childcare for three school-age children because she no longer qualifies for childcare assistance. Carla's other expenses include $200 monthly to keep the gas tank of her used car full, $300 a month for the electric/natural gas bill, a $50 monthly cell phone bill, and $50 per month for car insurance. Her bills add up to $2,700 per month, which leaves her with a whopping $300 left for savings, recreational pursuits and discretionary purposes. By the way, she did not see the nice tax refund of $4,000 this year since she no longer qualifies for EITC. During Carla's days as a CNA most of her income was disposable, but now that she's an RN she lives a paycheck to paycheck existence. I'm sure she wouldn't be too pleased with some schmuck proclaiming that she's earning 'big money.'

The people who are convinced that nurses earn plenty of money are like shrubs on the outside looking in because they do not know how much sweat and tears we shed for our educations. They remain blissfully unaware of the daily struggles of getting through our workdays. All they see are the dollar signs. I'm here to declare that I worked hard to get to where I am today and I deserve to be paid a decent wage for all of the services that I render. Instead of begrudging us, join us.

Further information to help readers decide...

 

Specializes in burn ICU, SICU, ER, Trauma Rapid Response.
Is it just me, or do you see a lot of nurses with loser husbands?

YES! All the time. It has gotten to be quite the cliche. I am alwasy amazed at the storied I hear working night shift about the things nurses put up with from their husbands. My buddy and I often joke about starting a 1-800 number for nurses husbands.

I'm sure you've heard of the phrase: "Nothing's better than a nurse with the purse."

Yes, there are some small-minded men out there who prey on female nurses because they actually think our pockets are overflowing with cash.

That sort of mindset has been going around for years, there was even a book turned into a motion picture based upon said theme; "Not As A Stranger".

Not as a Stranger (1955) - IMDb

1. Not As A Stranger - Robert Mitchum Olivia deHavilland 1955 Drama Romance Full Movie.flv - YouTube

Quite a few pre-med and medical students back in the day latched onto nurses. While a she usually didn't earn much a nurse did have a steady income which had it's own appeal, but for some men with ambitions in the medical field such a marriage brought other benefits as well.

A well respected and experienced nurse usually had some pull in a hospital and or other connection that could benefit her husband. While the usual choice then for a doctor's wife would be a physican's daughter and or a girl who came from money and social connections (all the better to fund a medical school education and help launch a practice), in a pinch a nurse would do just fine.

Of course many of these men turned out to be the skirt chasing physicans we all probably know at least one. Between nurses, secretaries and any other woman laying around spare it was a wonder those doctors got to practice at all. OTHO many of the wives turned a blind eye because they were now "doctor's wives" with all the wealth and status that entailed.

If and when things hit the fan and went to divource court allot depended upon the judge. Some former nurses were well compensated in the division of the marital estate when they could show how their contributions in the early years literally built their husband's practice into what it had become.

TOO bad for us nurses, we study four years in college took the board exam and yet until now a lot of our colleagues still having a hard time to look for their success .. !!! Lord please help us

Specializes in Case mgmt., rehab, (CRRN), LTC & psych.
Is it just me, or do you see a lot of nurses with loser husbands?
Yes, I've observed numerous nurses in the area where I live who have slacker husbands. They're married to men who are unemployed, underemployed, or unmotivated. And yes, I think it has something to do with the 'fix it' syndrome.
To be fair, it's apparent that not everyone knows about the nursing glut. This is evidenced by bright-eyed pre-nursing students across the country who make statements such as "Nurses always have jobs," "Nursing is recession-proof," "There's a shortage of nurses," and "Nursing will always be in demand!"

Yes, but I also think when it has been addressed in the media, people tended to blow it off as nonsense. All they have heard for so long is there is this big nursing shortgage. And while it is true that some places still could do better with staffing of nurses, they aren't going to because of budget constraints and concerns--one of which is concern re: healthcare changes.

Overall people aren't getting that is it a whole different world/reality for nursing. So much is done outside of the hospital or on an outpatient basis, and stays are often so limited, there isn't as much of a need for nurses in-house.

There have been some articles and pieces done on new grad nurses not being as able to procure jobs; but this either isn't getting a lot of play time, or people are just blowing it off.

It's kind of like how people are stuck on the idea that most physicians are rich, and they already make too much money. While in certain instances this may be true, it's not overall. These people have very HUGE $200,000 and + medical school bills, do 3 or > (depending on specialty and need for BC) at a very nominal stipend pay (Thus delaying their income ability for years), and have a ton of other costs above that. Reimbursements are down, and anyone that goes into medicine thinking they will necessarily become a millionaire is dreaming. You can try to tell this to people until the cows come home. All they can think about are the outliers--or those folks that are get in the high roller specialties. The other physicians are often those invested well over their lifetimes. But these folks aren't anything close to hedgefund investors. Daily Finance says that " attorneys, doctors, or dentists, which only account for 2% of the millionaire pool." Surprising Job That Gets Many Americans Into the Millionaire Club - DailyFinance

[h=3]Millionaire Household Occupations[/h][TABLE]

[TR]

[TD=width: 319]Occupation

[/TD]

[TD=width: 319]Percent of Millionaires

[/TD]

[/TR]

[TR]

[TD=width: 319]Manager

[/TD]

[TD=width: 319]17%

[/TD]

[/TR]

[TR]

[TD=width: 319]Educator

[/TD]

[TD=width: 319]12%

[/TD]

[/TR]

[TR]

[TD=width: 319]Sr. Corporate Executive

[/TD]

[TD=width: 319]7%

[/TD]

[/TR]

[TR]

[TD=width: 319]Business Owner

[/TD]

[TD=width: 319]6%

[/TD]

[/TR]

[TR]

[TD=width: 319]Accountant

[/TD]

[TD=width: 319]4%

[/TD]

[/TR]

[TR]

[TD=width: 319]Sales Person

[/TD]

[TD=width: 319]4%

[/TD]

[/TR]

[TR]

[TD=width: 319]Attorney

[/TD]

[TD=width: 319]2%

[/TD]

[/TR]

[TR]

[TD=width: 319]Doctor/Dentist

[/TD]

[TD=width: 319]2%

[/TD]

[/TR]

[/TABLE]

Source: Spectrem Group Millionaire Corner

Yes, I was surprised by Educator too. They get an edge b/c of dual incomes. Getting to high income in higher education takes a lot. PhD, biding your time and playing the game, being well-published, etc.

Yes, but I also think when it has been addressed in the media, people tended to blow it off as nonsense. All they have heard for so long is there is this big nursing shortgage. And while it is true that some places still could do better with staffing of nurses, they aren't going to because of budget constraints and concerns--one of which is concern re: healthcare changes.

Overall people aren't getting that is it a whole different world/reality for nursing. So much is done outside of the hospital or on an outpatient basis, and stays are often so limited, there isn't as much of a need for nurses in-house.

There have been some articles and pieces done on new grad nurses not being as able to procure jobs; but this either isn't getting a lot of play time, or people are just blowing it off.

It's kind of like how people are stuck on the idea that most physicians are rich, and they already make too much money. While in certain instances this may be true, it's not overall. These people have very HUGE $200,000 and + medical school bills, do 3 or > (depending on specialty and need for BC) at a very nominal stipend pay (Thus delaying their income ability for years), and have a ton of other costs above that. Reimbursements are down, and anyone that goes into medicine thinking they will necessarily become a millionaire is dreaming. You can try to tell this to people until the cows come home. All they can think about are the outliers--or those folks that are get in the high roller specialties. The other physicians are often those invested well over their lifetimes. But these folks aren't anything close to hedgefund investors. Daily Finance says that " attorneys, doctors, or dentists, which only account for 2% of the millionaire pool." Surprising Job That Gets Many Americans Into the Millionaire Club - DailyFinance

[h=3]Millionaire Household Occupations[/h][TABLE]

[TR]

[TD]Occupation

[/TD]

[TD=width: 319]Percent of Millionaires

[/TD]

[/TR]

[TR]

[TD=width: 319]Manager

[/TD]

[TD=width: 319]17%

[/TD]

[/TR]

[TR]

[TD=width: 319]Educator

[/TD]

[TD=width: 319]12%

[/TD]

[/TR]

[TR]

[TD=width: 319]Sr. Corporate Executive

[/TD]

[TD=width: 319]7%

[/TD]

[/TR]

[TR]

[TD=width: 319]Business Owner

[/TD]

[TD=width: 319]6%

[/TD]

[/TR]

[TR]

[TD=width: 319]Accountant

[/TD]

[TD=width: 319]4%

[/TD]

[/TR]

[TR]

[TD=width: 319]Sales Person

[/TD]

[TD=width: 319]4%

[/TD]

[/TR]

[TR]

[TD=width: 319]Attorney

[/TD]

[TD=width: 319]2%

[/TD]

[/TR]

[TR]

[TD=width: 319]Doctor/Dentist

[/TD]

[TD=width: 319]2%

[/TD]

[/TR]

[/TABLE]

Source: Spectrem Group Millionaire Corner

Yes, I was surprised by Educator too. They get an edge b/c of dual incomes. Getting to high income in higher education takes a lot. PhD, biding your time and playing the game, being well-published, etc.

Actually in many areas of the USA nurses are out earning physicans, especially GPs.

Many doctors especially those just starting out are being hurt financially by cuts to Medicare/Medicaid and insurance rates. Again this varies by practice but GPs, Peds, OB/GYN seem to be feeling the pinch hardest. OTHO some specalities do very well: The Best- And Worst-Paying Jobs For Doctors - Forbes

Actually in many areas of the USA nurses are out earning physicans, especially GPs.

Many doctors especially those just starting out are being hurt financially by cuts to Medicare/Medicaid and insurance rates. Again this varies by practice but GPs, Peds, OB/GYN seem to be feeling the pinch hardest. OTHO some specalities do very well: The Best- And Worst-Paying Jobs For Doctors - Forbes

Overall, however, I wouldn't say that was true--with the exception of some CRNAs topping some primaries. But even primary care can still make money--it just means seeing a lot more patients and putting in a lot more hours. Rural care FP in certain areas is paying pretty well too; b/c they have to function like the only game in town, and they just can't get people to go into some of these areas--not physicians OR NPs. I mean Alaska. . .a nice place to visit, but most don't want to live there.

My point is, after the HUGE investment of time and energy and money (application process is not cheap either), and then upon entrance to med grad education, and then residency and fellowship, people in medicine aren't getting rich. But like nursing, you shouldn't go into for that.

The lifestyle specialties are hard to match into, like opthamology, orthopedic surgery, dermatology, radiology. Those are the areas that have potential for high income. And I wouldn't necessarily say that Orthopedic surgery is the lifestyle kind of medicine in the same sense as the others--only that top players in that area can make a million per year. I mean those docs invest a lot of time well past post-grad and as attendings.

Overall, the number of people in the US that are becoming millionaires has dropped since 2008. And many of those who were millionaires (earned) are no longer so.

It's a whole new reality we are all going to have to accept.

I make a decent wage. I wont say im raking it in but I do earn enough to support myself and my family without federal aid and that should count for something. I work 3 days a week. Im home for my kids more often and dont have to worry about my funding being cut like I did when I was on welfare. Before prices started to rise I would say I was making good money. Now with gas and food prices increasing I find it more breaking even but thats more than a lot of my friends!

I make a decent wage. I wont say im raking it in but I do earn enough to support myself and my family without federal aid and that should count for something. I work 3 days a week. Im home for my kids more often and dont have to worry about my funding being cut like I did when I was on welfare. Before prices started to rise I would say I was making good money. Now with gas and food prices increasing I find it more breaking even but thats more than a lot of my friends!

Are you a two income household?

Yes, I'm fearing inflation is going to hit all of us hard. Maybe not right away, but in the next several years. Everyone's taxes pretty much will have to go up. There aren't enough huge earners to make up the difference of what we need. Couple this with hyperinflation, and the stagnicity of salaries, well, it will not be what we had been used to.

Are you a two income household?

Yes, I'm fearing inflation is going to hit all of us hard. Maybe not right away, but in the next several years. Everyone's taxes pretty much will have to go up. There aren't enough huge earners to make up the difference of what we need. Couple this with hyperinflation, and the stagnicity of salaries, well, it will not be what we had been used to.

I make over double what my husband does. So I pay the bills and he covers our "fun." We have a 4yr old and one due any day now.

I make over double what my husband does. So I pay the bills and he covers our "fun." We have a 4yr old and one due any day now.

OH, wow! Congratulations! A Christman/Hanukkah Baby! Hope you are feeling well. One of my sons' birthday is two days before Christmas.

:)

Specializes in Critical Care, ED, Cath lab, CTPAC,Trauma.
OH, wow! Congratulations! A Christman/Hanukkah Baby! Hope you are feeling well. One of my sons' birthday is two days before Christmas.

:)

and I was born on Christmas....! Happy Birthday to us all!!!!! Best wishes to the Momma to be!!!!