how do i max my income as new grad

Nurses General Nursing

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need help from experienced RNs on how i might maximize my salary and earning potential when i graduate as RN in May.

Is it negotiable, do you have to take what they offer?

What is the highest youve heard someone start out at?

I need to make as much money as possible as my wife is a stay at home mom so we will be living off my salary only.

Will i be able to afford a decent house?

Any other RNs just started out and live off one income? I would love to her from you. Can you afford a house in the $150,000 to 175,000 range?

thanks,

matt

If anyone has been successful at negotiating a higher pay rate starting out....please let me know...thanks

Hmmm. As a new grad with no nursing experience you probably won't be making 'top' bucks anywhere. New grads in certain areas (i.e. the San Francisco Bay Area) make a lot more than even experienced RNs who work in other parts of the country, but I've done the Bay Area and I know from personal experience that you end up spending a lot of that high salary on the outrageous cost of living there so it kinda sorta evens out with lower salaries and lower COL elsewhere (for the most part, anyway).

Some hospitals pay extra for ICU/Critical Care, others don't. But the ones that do don't pay more than a buck or so extra an hour. I'm sure there are exceptions, but I don't know that too many such opportunities are available to new grads. You also have to be wary of hospitals that offer huge sign-on bonuses. Many times its because the place is so bad that they have a hard time retaining staff. And they usually attach strict conditions to these bonuses (i.e. you have to stay there for X number of years, and if you leave before you have to pay it back) and you are going to get the money in pieces over an extended time, not up front or all at once.

Another thing you have to be careful of is working too much OT, especially if you don't have dependent kids or own a house. If OT and/or per diem side gigs push you into a different tax bracket make sure that the appropriate amount of taxes are being deducted, otherwise you may find a nasty surprise in your mailbox at the end of the tax year (courtesy of the IRS). I learned this one the hard way when I was a new grad.

Tweety gave excellent advice about not getting into debt. Although by the time most young people graduate from college its already too late because they are already deep in the red with student loans and credit cards. My advice is to live inexpensively and save as much as you can during your first year as an RN. Money is important, but gaining experience is more important. Even a little experience can make a significant difference when you are negotiating salary for another position later on.

im actually from san francisco and your absolutely right.

but i did read that you can start out at about 60k in san francisco. in san jose you can make up to 70k starting out. but good luck finding an apartment under 1000$ a month. thats just basic rent.

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I am in Il. and the hospitals out here have empty shifts posted for people to pick from any area to avoid bringing in agency, some of those shifts pay up to $12 differential in my part of the world. Also, home visits through an agency, I am an LPN and making more doing home visits than some RN's in a hospital with all the differentials. The agency I work for pays per visit and the visit takes 30 to 60 minutes depending on how you use your time. The RN's in the agency make $20 per hr more than the LPN's. I am doing it for extra money while keeping my regular LPN pos.

To answer your question about buying a house, whatever your annual salary is times 3 is usually what you can get approved for for a home loan, that is a rough estimate( not taking into account credit score, credit debt, down payment etc.)...but getting approved for that much and being able to afford that much are two different things. Hopefully cost of living and wages are kind of in sync in your area. If you try lendingtree or someplace like that you can get pre-approval and see what you have to work with. Good luck!

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I am having a time finding a job....I have resumes out..about 12 of them......psych hospitals have called me......one in particular offered me $13.00 per hour as a "grad nurse/mental health specialist"..and my pay would be $20.00 an hour after getting my RN licensure......I then thought about it & decided I am not taking it after interviewing about 3 weeks ago. It just didn't feel right to me so I went with my gut instinct.........Most new grads I hear in my area are starting at $22.80 an hour with the differentials added onto that for different shifts, weekends etc........so I opted not to accept that job after all......I just sent a letter to them to let them know because I was supposed to start in Feb.

I want to know where is this big nursing shortage??????? Geez!!!!! I am having a heck of a time finding a job...and I want one yesterday for pete's sake!!!! I have fantastic letters of recommendation from 3 instructors too.......I don't get it....Anyone else have a similar problem after graduating???????:uhoh21:

depends on what area you live in, some places are in dire need of nurses, some arent.

it also depends on your amount of experience. sounds like you have job offers but not enough experience, and you might be expecting too much based off of little to no experience.

your not gonna become a millionaire overnight.

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Specializes in none.

thx damarystx and youngEd.

So as a new grad RN in Birmingham I am looking at about 45 to 50k a year that would be a 150,000 home right? That is doable in Alabama

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Specializes in med surg, ob, ER, pedi home health,.

It never hurts to try and negotiate. When I was a new grad, I went to the different hospitals and checked around. I got the hospital I wanted to work at to pay me $2.00 more an hour by negotiating. You also may want to check into diabetic homehealth for a side job. Most places (at least around here) pay by the visit and it adds up quickly.) Best of luck!

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thx damarystx and youngEd.

So as a new grad RN in Birmingham I am looking at about 45 to 50k a year that would be a 150,000 home right? That is doable in Alabama

my advice would be to move out of alabama simply because its alabama :lol

seriously though, get situated in your career before you start making plans to buy something big like a house.

some people work for years to get up to 45/50k. but by that time they have saved and bumped up thier credit.

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Specializes in none.
It never hurts to try and negotiate. When I was a new grad, I went to the different hospitals and checked around. I got the hospital I wanted to work at to pay me $2.00 more an hour by negotiating. You also may want to check into diabetic homehealth for a side job. Most places (at least around here) pay by the visit and it adds up quickly.) Best of luck!

Wow thanks. I knew somone out there has pulled it off.

thanks for the advice.

matt

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Specializes in none.
my advice would be to move out of alabama simply because its alabama :lol

seriously though, get situated in your career before you start making plans to buy something big like a house.

some people work for years to get up to 45/50k. but by that time they have saved and bumped up thier credit.

I would consider moving but we have a great network of friends and family and I cant leave that. Besides Birmingham has many hospitals to choose from and the quality of living isn't bad in the burbs.

thx again

matt

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I would consider moving but we have a great network of friends and family and I cant leave that. Besides Birmingham has many hospitals to choose from and the quality of living isn't bad in the burbs.

thx again

matt

im in tucson, arizona.

im done with the prereqs as of this summer. everywhere has a waiting list 2 years long, so im graduating community college with an associates in liberal arts. im gonna pay about 10-15k to go to nursing school in phoenix (apollo college), complete 3 semesters there and graduate with my AS in nursing and get my RN.

then im gonna move back to california, work with my associates up to a bachelors.

hopefully by then i can apply to medical school after i have the pre-med courses done. if not ima get my NP.

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Specializes in none.

Sounds great. WOW! waiting list is 2 years long? I go to a Comm College here and got in 1st try, guess alabama aint that bad after all....lol.

I graduate in may and then I wil begin the 1 year step program for my bachelors which is completly online and NO CLINICALS!!!!!!!!!!! I then plan to go to be a CRNA like everyone else in nursing. Bet I won't get in 1st try in that program. lol

Good luck to ya

matt

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Specializes in Cardiac.

In Tucson, the waiting list is at least 2 years long, but the last time I spoke with one of the nursing directors I heard it was longer.

seriously though, get situated in your career before you start making plans to buy something big like a house.

some people work for years to get up to 45/50k. but by that time they have saved and bumped up thier credit.

I purchased my home (being built now) after I graduated but before I started working.

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Sounds great. WOW! waiting list is 2 years long? I go to a Comm College here and got in 1st try, guess alabama aint that bad after all....lol.

I graduate in may and then I wil begin the 1 year step program for my bachelors which is completly online and NO CLINICALS!!!!!!!!!!! I then plan to go to be a CRNA like everyone else in nursing. Bet I won't get in 1st try in that program. lol

Good luck to ya

matt

I also live in Alabama...can you give me more details on the one year-online bachelors program you are speaking of?? Thanks in advance

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