Do Nurses really make "good money?"

llg, PhD, RN · Mar 15, 2016

There is no 1 right answer to your question. Salary depends on the specific job you take and upon your geographic area. It also depends on the amount of education you have and a lot of other things. Finally, it depends on what you mean by "good money."

If by "good money," you mean the equivalent of physicians, pharmacists, engineers, etc. ... then "No, nurses do not make good money." However, those professions all require graduate degrees. If you compare an entry level nursing job with other jobs that only require an Associate Degree, then yes, nurses make good money.

Many nurses can augment their income by working overtime, off-shifts, holidays, etc. If that is something that is important to you, the opportunity exists in nursing. Not all jobs have those options.

But overall ... nursing is a "middle class" profession. Pay is typically in the "middle-class" range -- and if you consider that doing well, then you will be happy with that. But if you want to be in a higher socio-economic category, you will either have to take advantage of every opportunity to maximize your pay within nursing, or choose a career that pays better. I live in an area of the country with a cost of living index that is approximately average for the USA. I chose to further my education and get a PhD in nursing -- and I make about $95,000 per year. But the average staff nurse at my hospital (with an ADN or BSN) makes about half that.

nortonplusRN · Mar 15, 2016

My first year as an LPN I made 60k. This is with overtime of course and working holidays. I almost made 100k as a new RN. This is with overtime of course.

TheCommuter, BSN, RN · Mar 15, 2016

It is all about perspective. To me, the money in nursing is 'good.' However, my perspective is colored by my upbringing in a financially stressed household where neither parent earned much money and existed from paycheck to paycheck. As a result, utilities were occasionally disconnected, a car was repossessed and the fridge was sometimes empty.

However, nursing incomes might look paltry to someone who grew up in a household headed by a surgeon and a high-powered attorney. That individual's perspective would be colored by exposure to a comfortable lifestyle funded by incomes in the high six figures (if not more).

So is the money good in nursing? Again, it depends on your unique perspective.

Julius Seizure · Mar 15, 2016

Depends on location, too.

And yes, starting salaries are generally considered high relative to starting salaries of jobs with equal levels of education.

However that salary caps out more quickly. For instance you start out making more than a new grad MBA, but ten years down the road, the MBAs salary will probably far surpass yours if you don't go back to school or leave the bedside for management.

Asystole RN · Mar 15, 2016

Right out of school my wife and I each made just over $70k. Today we have a combined base salary just under $200k, no overtime, does not count my stock options, 9% employer contributions to 401k, and 4 weeks of vacation. She works from home for an insurance company and I work in an office.

Cost of living index in our AO is about 1.

We can pay our bills, own a house, eat whatever we want, drive new cars, and go on vacation whenever we want. Granted, it is nothing compared to my aunt who is also a nurse who at the height of her career was bringing in over $500k a year but we are happy and content.

Nursing is very personally rewarding but can also be financially if you look outside the box.

Julius Seizure · Mar 15, 2016

Right out of school my wife and I each made just over $70k. Today we have a combined base salary just under $200k, no overtime, does not count my stock options, 9% employer contributions to 401k, and 4 weeks of vacation. She works from home for an insurance company and I work in an office.
Cost of living index in our AO is about 1.
We can pay our bills, own a house, eat whatever we want, drive new cars, and go on vacation whenever we want. Granted, it is nothing compared to my aunt who is also a nurse who at the height of her career was bringing in over $500k a year but we are happy and content.
Nursing is very personally rewarding but can also be financially if you look outside the box.

Whoa tell me more about this aunt!?

Asystole RN · Mar 15, 2016

Whoa tell me more about this aunt!?

She is a lobbyist specializing in healthcare.

Lobbying can be very rewarding, especially when by your efforts you literally get to shape the future of healthcare.

RachealAnne · Mar 15, 2016

My cousins wife is a new grad (ASN) in the ER and she makes 40+ dollars an hour. She is in Sacramento though, so the living expense is pricey.

Ard123 · Mar 22, 2016

Pay varies by geography. Most of the country pays rns 50,000 - 70,000 a year . Where I live , the competitive pay for staff rns can run anywhere from 120,000 to 180,000, not including overtime (with ot, some nurses have made in excess of 300,000) Cost of living is higher here , but our level of pay still exceeds the income of other rns across the nation when adjusted by the Cost of living index. (I found a COL calculator online , and adjusted my 165k income in my area against Oklahoma city and got a figure of 100k.) this was just an example but it was good to know that my income is roughly equal to earning 100k in a Midwest town, which is definitely not shabby at all. Also, with all the overtime I'm accumulating , I'm looking to push over 200k this year, a perk that comes with having a strong regional union. So what does this all mean? Some places better than others. Nursing is a guaranteed middle class job in most of the country. But like any industry, if you look and work hard enough and position yourself correctly, you can break into the upper middle class, which isn't bad for a traditionally blue collared profession .

ThePrincessBride, MSN, RN, NP · Mar 22, 2016

Well, for the amount of schooling needed to obtain most nursing positions, the money is very good. For the level of responsibility and BS that nurses put up with? No way.

Not including overtime, my night shift or weekend differential or PRN job, I make a hair under 45k pre-tax. The average for new/recent college graduates with a 4-year degree is about 45k-48k/year. So I do feel underpaid when looking at my base pay. However....

Many if not most new grad nurses are on night shift. My night shift adds about 9k more a year on my base salary. So, up to about 54k. Nearly every new grad will be required to work some weekends. My weekend differentials, assuming I don't pick up any extra weekends, adds another 3k on top of my base. So I am right up to 57k. Holiday pay (regardless if I work the holiday or not) gives me another 1.8k conservatively (not including if I actually work it, then I get more).

And minimal shifts at my PRN job with absolutely zero differentials add a minimum of another 15k.

So, all in all, differentials plus minimal PRN work put me well above the average new college grad and even the average household income of about 50k. For a young twenty-something with no major expenses, debt or kids, it is great money. For a single mom with three kids and major expenses? Not so much.

On paper, the money is very good, but unlike some professional workers, if I make a mistake, someone could die. That alone should allow me to command a higher than average salary. A seasoned nurse who is acting as charge, a resource person, running units and precepting nurses? She/he deserves a crapton more as seasoned nurses are golden.

And don't get me started on the BS and crazy amount of workload that nurses are expected to accomplish and the extremely long shifts that many of us work. We truly deserve more than what we get. I don't say this because I am a nurse (though who wouldn't turn down more money?). I say this because it is true.

Luckyyou, BSN, RN · Mar 22, 2016

My base hourly pay works out to a $48k yearly salary. With overtime, shift bonuses, skill-based pay and shift differentials, I made $100k+. Not shabby for the Midwest. I haven't had to worry about money since the first year I was out of college.