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FNP - How to make enough $$$ to pay the bills?

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by kjinman100 kjinman100 (New) New

kjinman100 has 4 years experience and specializes in Oncology, ICU, Nephrology, Hematology.

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As little as I like to admit it, most days my only motivation for going to work is to support my family. I am a FNPS and will be graduating in a year. I am currently located in Louisville KY, but am willing (and interested) in relocating for my first FNP position.

I am becoming concerned due to the salary data that I am able to gather, as it stands now, if I were to begin working as a new grad at 40 hrs/week in this area, I would take a 30-40% pay cut. (I work 60-70 hours/week now as the sole-income for my family)

I am willing to do pretty much whatever to make this work, I just don't have a great understanding of the opportunities afforded to Practitioners (PRN, Locum...) for supplemental income on top of a 40 hr/week position. Overall my goal (requirement) is to make $6,000 take-home monthly.

Anyone have any success in this environment?

Thanks!

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TheCommuter has 14 years experience as a BSN, RN and specializes in Case mgmt., rehab, (CRRN), LTC & psych.

4 Followers; 226 Articles; 27,607 Posts; 321,210 Profile Views

I was able to take home that amount of money as a floor nurse with just an RN license and ASN degree in Texas. The 'real job' resulted in take-home pay of about $4,500/month and the PRN gig resulted in an extra $2,000/month. I'm not a FNP.

The median pay for FNPs in San Antonio is about $83,000 per year. Pay often exceeds $100,000 yearly in cities such as Houston and Dallas. Therefore, a change in scenery and geographic location might get you what you're seeking.

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248 Posts; 9,680 Profile Views

Texas has 0% state income tax, so it is very possible. If you are a "sole" income provider, "you" come first and should be able to choose where you go. I would relocate to the highest pay area for FNP. Don't forget to consider state tax and cost of living when you relocate!

Edited by harmonizer

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BostonFNP has 9 years experience as a APRN and specializes in Adult Internal Medicine.

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There are a number of factors you will need to consider when you start taking about "take home" instead of salary: state income taxes, health insurance, retirement contributions, dependents, cost of living, etc.

I take home more than $6k month in base salary alone at my 40hr/wk job but also live in a very high cost of living region, health insurance comes out of my wife's check, etc.

All in all most NPs pay the bills with a single job. You can always take supplemental jobs if needed. I have moonlighted as a Hospitalist for some extra money in the past and I have several colleagues that work a shift or two in retail health for an extra 500-1000 bucks a week.

Sent from my iPhone.

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92 Posts; 2,959 Profile Views

There are a number of factors you will need to consider when you start taking about "take home" instead of salary: state income taxes, health insurance, retirement contributions, dependents, cost of living, etc.

I take home more than $6k month in base salary alone at my 40hr/wk job but also live in a very high cost of living region, health insurance comes out of my wife's check, etc.

All in all most NPs pay the bills with a single job. You can always take supplemental jobs if needed. I have moonlighted as a Hospitalist for some extra money in the past and I have several colleagues that work a shift or two in retail health for an extra 500-1000 bucks a week.

Sent from my iPhone.

What is retail health? Just curious.

Thank you

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TheCommuter has 14 years experience as a BSN, RN and specializes in Case mgmt., rehab, (CRRN), LTC & psych.

4 Followers; 226 Articles; 27,607 Posts; 321,210 Profile Views

What is retail health? Just curious.
Although I am not a nurse practitioner, I assume that 'retail health' refers to the minute clinics found in retail drugstores such as Walgreen's and CVS Pharmacy.

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xenogenetic specializes in Psychiatric and Substance Abuse Nursing.

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Per diem (no benefits) rates for NPs in Connecticut range from $60 to $100 per hour. I would imagine many larger cities nationwide would have comparable per diem rates so picking up a per diem job in addition to your full-time job might be the move to make.

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1,115 Posts; 14,191 Profile Views

Let's be clear here, you are not taking a pay cut to become an NP. You are taking a pay cut because you won't be working 70 hrs per week. Compare your 40hrs as an RN vs. 40 hrs as an NP and you will see you make more as an NP.

Anyway, I bring that much money home a month. I work part-time in family practice and then on my off days I work per diem for a company doing in home Medicare Assessments. Heck, I wish I could work more right now because the bonus money is really really good!

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178 Posts; 4,593 Profile Views

Do things other people don't want to do. Our group does medical h and ps on pych patients. 240 bucks per day. Some days I'm there 20 minutes. Others two hours. Averages 150-200 bucks an hour usually

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36 Posts; 2,696 Profile Views

Hi there!

One site I have had good luck on is Indeed. There are lots of positions available in underserved areas that tend to pay more. Often these positions offer tuition reimbursement, sign on bonus, relocation costs, etc.

Good luck!

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kjinman100 has 4 years experience and specializes in Oncology, ICU, Nephrology, Hematology.

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Thanks for the input everyone! It's a terrifying prospect to end up making less as an APRN! I've also begun to look into the extended repayment option for student loans. The new(er) option is called 'pay as you earn' and is capped at 10% of your gross annual adjusted salary (Salary - poverty line {$17,000} - deductibles and dependents = gross adjusted) So if your adjusted income is ~$70,000 then your maximum monthly payment on your student loans is up to $583, no matter how much you pulled out. And (if the program still exists in 10 or 20 years) if you work for non-profit or public sector (which is 80% of healthcare jobs), then you get your loan balance forgiven after 120 consecutive payments (10 years of on time payments). Not too shabby :)

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OBigdog26 has 8 years experience as a MSN, RN, NP.

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Thanks for the input everyone! It's a terrifying prospect to end up making less as an APRN! I've also begun to look into the extended repayment option for student loans. The new(er) option is called 'pay as you earn' and is capped at 10% of your gross annual adjusted salary (Salary - poverty line {$17,000} - deductibles and dependents = gross adjusted) So if your adjusted income is ~$70,000 then your maximum monthly payment on your student loans is up to $583, no matter how much you pulled out. And (if the program still exists in 10 or 20 years) if you work for non-profit or public sector (which is 80% of healthcare jobs), then you get your loan balance forgiven after 120 consecutive payments (10 years of on time payments). Not too shabby :)

Where did you get this info? Reference please

Sent from my iPhone using allnurses. Pardon for any misspelled words, I blame it on auto-correct.

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