Can nurses live a luxurious life?

johsonmichelle · Apr 15, 2018

Hello,
I live in NY and I plan on being a RN and getting a bachelors degree. The majority of answers I've seen on this topic is "it's not about the money" etc. I would never take a job for the money bc I know I'd end up hating and regretting it. However, is it possible as a nurse to live a luxurious life where you can afford nice things? Thanks in advance for the answers.

It depends on one's personal definition of luxury. There is also other factors to consider like cost of living, debt , if they have kids etc.

KelRN215, BSN, RN · Apr 15, 2018

I don't complain about my salary, but in comparison to all of my friends who have similar education (Bachelors degree), I probably make the least amount of all of them.

I have found the opposite to be true in my 11 year career. My only friend from college who makes more than me is one of my old roommates who works in finance. I make significantly more than my mother, who has a master's degree and 40ish years experience in teaching, and about $20K/year than my best friend who has a PhD and is the team lead of her department at her job. One of my friends who works in high tech made the same as I did the last I knew (~3 years ago) but I have changed jobs and make about $6K/year more now than I did then. And my boyfriend has 2 bachelor's degrees and I out earn him by $40K/year. For a Bachelor's Degree career, I think nurses can do quite well.

Yesterday I was down in an area of my city having dinner where they are building "luxury" apartments. I looked up the cost of these apartments and a studio is $2750/month. I could afford that if I wanted to stretch my income but that's not what I desire to spend my money on. I can own a 3 bedroom house in a more residential part of the city and pay less than $1800/month for mortgage, insurance, taxes and PMI and then have more discretionary income to spend on things like travel.

Horseshoe, BSN, RN · Apr 16, 2018

I have found the opposite to be true in my 11 year career. My only friend from college who makes more than me is one of my old roommates who works in finance. I make significantly more than my mother, who has a master's degree and 40ish years experience in teaching, and about $20K/year than my best friend who has a PhD and is the team lead of her department at her job. One of my friends who works in high tech made the same as I did the last I knew (~3 years ago) but I have changed jobs and make about $6K/year more now than I did then. And my boyfriend has 2 bachelor's degrees and I out earn him by $40K/year. For a Bachelor's Degree career, I think nurses can do quite well.

Well, that's just not my experience. Even my daughter will be making more than I this summer when she does a clerkship for over 3k PER WEEK (she is in law school but hasn't yet graduated).

Again, I'm not complaining about my life. My husband has a really big income, so I'm not suffering in the least. But most of my friends work in the business sector and pull in way more money than I do, and only a few of them have more education. But I knew when I chose nursing that big bucks wasn't in my professional future.

vintagemother, BSN, CNA, LVN, RN · Apr 16, 2018

I wouldn't say I live luxuriously but I am happy and comfortable. I have a good vehicle, a nice home and I am able to give my kids a good life. Happiness is more than money :)

I feel like I live a very blessed life. I can buy healthy food and fun food. I was able to purchase a home as a single parent. I can afford to buy my kid at home the things he needs / wants. I can help out my college aged kids with miscellaneous things. I *know* this is a blesssed life because I know other people struggle just to get by.

I used to be one of those people.

I'm very grateful.

I think that if a person can buy all their needs plus a few wants, we are blessed!

Leader25, ASN, BSN, RN · Apr 16, 2018

. As you climb the ranks and move into more leadership or management positions, your earning potential will increase.

Hmmmmm......

Leader25, ASN, BSN, RN · Apr 16, 2018

As my accountant said,"it is a nice second salary."

nekozuki, LPN · Apr 17, 2018

Income-wise, I'm considered upper middle class for my region, but I also have no student loan debt, no children, and I keep my credit card balance at a few hundred bucks. But I also have to work 60 hours a week, constantly negotiate for higher pay through agencies, and field multiple calls a day. I work per diem in an area with a severe nursing shortage (and a relatively low cost of living), so some of my friends break 100k. But it's hustle, juggling agencies, inconsistent, and sometimes not worth it.

Serhilda, ADN, RN · Apr 17, 2018

It's not ungrateful to expect to be fairly compensated for the amount of work, responsibility, and liability that comes with nursing. "Well, you're not homeless" isn't really good enough imo.
I don't complain about my salary, but in comparison to all of my friends who have similar education (Bachelors degree), I probably make the least amount of all of them.

You are compensated fairly, that's the point. It's one thing to state nurses in your hospital deserve a pay increase, unions, etc, but when nurses look at the average $70k salary for RNs and find a bone to pick here, they need a reality check. Yes, nursing is hard, but so are hundreds of other professions that pay even less with fewer benefits. The average American earns about $27k while the average person with a bachelor's degree earns around $50k. As I said, we're doing fine, especially when compared to the average person...

Horseshoe, BSN, RN · Apr 17, 2018

You are compensated fairly, that's the point. It's one thing to state nurses in your hospital deserve a pay increase, unions, etc, but when nurses look at the average $70k salary for RNs and find a bone to pick here, they need a reality check. Yes, nursing is hard, but so are hundreds of other professions that pay even less with fewer benefits. The average American earns about $27k while the average person with a bachelor's degree earns around $50k. As I said, we're doing fine, especially when compared to the average person...

Depending on the region, I completely disagree with the above...respectfully.

ThePrincessBride, MSN, RN, NP · Apr 17, 2018

You are compensated fairly, that's the point. It's one thing to state nurses in your hospital deserve a pay increase, unions, etc, but when nurses look at the average $70k salary for RNs and find a bone to pick here, they need a reality check. Yes, nursing is hard, but so are hundreds of other professions that pay even less with fewer benefits. The average American earns about $27k while the average person with a bachelor's degree earns around $50k. As I said, we're doing fine, especially when compared to the average person...

The average isn't making anywhere NEAR 70k unless they have years of experience, work overtime or live in a high cost of living. Most new grads in my area aren't making 50k WITH a BSN unless they work nights and pick up OT.

The average American also isn't responsible for LIVES and most people with a BA or BS don't have the level of responsibility that a nurse has. So, quit comparing LPNs and RNs to other professions...it is comparing apples to oranges.

ThePrincessBride, MSN, RN, NP · Apr 17, 2018

I have found the opposite to be true in my 11 year career. My only friend from college who makes more than me is one of my old roommates who works in finance. I make significantly more than my mother, who has a master's degree and 40ish years experience in teaching, and about $20K/year than my best friend who has a PhD and is the team lead of her department at her job. One of my friends who works in high tech made the same as I did the last I knew (~3 years ago) but I have changed jobs and make about $6K/year more now than I did then. And my boyfriend has 2 bachelor's degrees and I out earn him by $40K/year. For a Bachelor's Degree career, I think nurses can do quite well.
Yesterday I was down in an area of my city having dinner where they are building "luxury" apartments. I looked up the cost of these apartments and a studio is $2750/month. I could afford that if I wanted to stretch my income but that's not what I desire to spend my money on. I can own a 3 bedroom house in a more residential part of the city and pay less than $1800/month for mortgage, insurance, taxes and PMI and then have more discretionary income to spend on things like travel.

I think it depends on which profession you are comparing yourself to. Of course, you are going to out-earn most teachers...as we have seen in the news, many teachers haven't gotten raises in over five years.

My brother is a fresh, new grad with an Engineering degree from a VERY prestigious university. Before even graduating, he was offered a job (from his internship) making 77k per year with a 10k sign-on bonus with 4 weeks PTO and 6% 1:1 401k match. My boyfriend is a CPA in his 11th year and makes over six figures...a bedside RN with similar amt of experience in my area isn't making over six figures unless they are working crazy amt of overtime.

I am almost in my third year of nursing and, while working two jobs, only made 69k last year. That is WITH holiday, evening and weekend work. However, compared to other majors in their third year, I make much more.

The problem with nursing is wage compression. Sure, we make decent money starting out, but then we top out with a much lower ceiling than quite a few other professions.

ThePrincessBride, MSN, RN, NP · Apr 17, 2018

We fly in Europe (and everywhere else) two or three times a year for a few days. Is it counted?

I'd say so.

I don't have my own place and, up until my car was totaled, I was driving a car with nearly 150k miles on in. Plus, I was carrying a Samsung 3 for FIVE years until it literally couldn't keep up with today's apps and technology and would barely function. Instead of getting a 1000 dollar IPHONE, I got a very basic smart phone, and I replaced my car with a gently used (yet certified) Civic.

I think I live pretty luxuriously in comparison to most of the world. I get to go the movies as much as I want (for less than 10 bucks a month thanks to moviepass), I take two international trips a year to pretty awesome places (South America, Asia, Europe and Africa), I wear decent clothes (nothing fancy, Old Navy and Torrid) and I can eat out without worrying about my CC bill (and rarely is it a a sit-down restaurant.)

Compare to many people in the universe who are living in poverty or paycheck-to-paycheck, THAT is the definition on luxury. And it can be had on a nurse's salary.

It is all about perspective.