I ponder about this all the time. If you are a RN now by this point, you know you don't make that much, but still most of us admit that "well, still among our friends, I make decent money." Are we?
I have been a nurse now about year and half, and I really wonder if people at my age group make as much as or more than I do; I live at Dallas, 1yr and half exp making $25/hr + $4 for nights ($29), and $34 for weekend nights. I think it comes to about $3100-3600 a month after taxes , and I don't know about you, but to me, that doesn't feel very much. I have friends who are teachers, architects, interior designers, and etc, and seeing the way they spend, I doubt that I make more than they do. If I even increase the times I eat out by little bit, I can clearly see my budget affected by it, and it seems like everyone and their grandmother eats out everyday and they still have money to buy other stuff.
Or maybe they are broke and living by paycheck to paycheck because they are not saving up any monies? Ah... I really wish I made enough not to really care whether I eat out today or not. And by the way, I am single and childless... well, I forcefully support millions of lazy freeloaders with my sweat-stained money, so I guess I have lots of children. So, what do you think?
So true that outward appearances mean nothing. My dad had a very prestigious and high paying job, but you would think they were peasants looking at their material things and spending habits. Meanwhile, I know another family that made 6 figures but lost their house because they just would not budget. Always had to have the latest gadget or toy and went out for dinner nearly every single night. It's not a question of what's coming in but what's going out. They could have easily kept their lovely house and paid for their kids' education and retired early, but they wanted things and wanted them now. You can outspend any budget.
Personally I'm not a nurse yet and even the lower end wages mentioned here sound dreamy lol. I've always made less than 20k and still managed to live quite well, even taking trips and owning a horse and a used car that isn't a junker.
I think nurses, as far as new grad potential goes, do much better than most fields. It seems the issue is that one hits the ceiling rather quickly and there are all too few raises and incentives to stick with any given employer.
what you say is true. i do see some people first-hand who make poor choices financially, and I wonder did you really need that new stuff (phones, cars, electronics, etc). I just spent aboug $95 on amazon on some stuff, but I had waited about a month for this purchase because I try not to spend too much every paycheck (got paid today).
By the time you're a nurse, all that money will look like peasant wage because all the stress, responsibility, bs to deal with pts, families, admin, and politics will just not convince you that you're being paid for what you do... but that's for another book lol. oh ya, tax SUCKS too. take it from middle class to pump it back to lazy class. murica.
Anyway, to answer the OP's question, yes, in comparison, we make good money on paper. After taxes, insurance premiums, and 403b contributions, bring home pay isn't that great. My bring home is nearly equivalent to when I was making $13/hr less than what I'm making now.
i've also found this to be true. I earn $50/hr working per diem, in a city that has the second-highest cost of living in the US, and the taxes are so high that my actual take-home pay is nowhere near as much.
In contrast, I also teach music lessons, and I also earn an average of $50/hr doing this. The difference is, being self-employed, the tax deductions allow me to keep a lot more of that money in my own pocket.
If you are in it for the money, go find something else to do. Looks like you value (covet) the lifestyle of the teacher, architect, interior designer, etc. Maybe try that?
Compared to many other college grads, I think new nurses make very good money. At my place of employement, new grads are required to work at 100% (40 hours) and usually nights for that first year of nursing. They start of at $24.25/hr base pay. Nights get 15% of base rate, putting their usual shifts at almost $28/hr. Keep in mind that this area is decent cost of living, not Cali or NY. Then there are weekend differentials, and with mandated OT and holiday pay which can easily put a new grad in the high 50s. Not too shabby.
i've also found this to be true. I earn $50/hr working per diem, in a city that has the second-highest cost of living in the US, and the taxes are so high that my actual take-home pay is nowhere near as much.
In contrast, I also teach music lessons, and I also earn an average of $50/hr doing this. The difference is, being self-employed, the tax deductions allow me to keep a lot more of that money in my own pocket.
But as self employed most people have to pay double tax of social security as the employer usually pays half and we pay the other half.
Compared to many other college grads, I think new nurses make very good money. At my place of employement, new grads are required to work at 100% (40 hours) and usually nights for that first year of nursing. They start of at $24.25/hr base pay. Nights get 15% of base rate, putting their usual shifts at almost $28/hr. Keep in mind that this area is decent cost of living, not Cali or NY. Then there are weekend differentials, and with mandated OT and holiday pay which can easily put a new grad in the high 50s. Not too shabby.
But it is all relative.
I read if minimum wage had kept up with inflation it should actually be $21/hr! Makes you realize how stagnant wages have become in America and how underpaid minimum wage workers really are as well as the rest of us! Now health insurance costs thousands out of pocket, pensions are gone and we have to save for our own retirement out of increasingly stagnant wages where raises if any barely keep up with inflation! No wonder so many people feel poor! Also this is part of why so many people and families have credit card debt, because they use the credit card to fill the gap between wages and cost of living. We haven't even mentioned all the people burdened with student loan debt that eats up precious spending money and is also harming the economy as people can't afford to get married, have kids or buy a house or car when they are struggling to pay back thousands in student loans.
If you are in it for the money, go find something else to do. Looks like you value (covet) the lifestyle of the teacher, architect, interior designer, etc. Maybe try that?
A teacher??? Loool I hope you mean professor because teachers have far fewer opportunities and income starting out than a nurse does, and need more education to boot. My husband has a masters, had to move 4 hrs away still competing against 50 others to get his first job and started at 36k. I'm quite familiar with the teacher's coveted lifestyle
When you consider that somebody with an associates degree in nursing (or even a few allied health positions) worth $10-20k is starting off making the same money as a BSN worth $30++k it becomes hard to accept that we've got it good. Then again look at all the under- and unemployed nurses, accountants, lawyers, and various other college educated professionals who are out of work completely, debt-in-hand. Either way it's crappy to acknowledge that you've got a BSN and a year experience and you're still pigeon-holed in your first job because of how absolutely disgustingly saturated the market is.
But as self employed most people have to pay double tax of social security as the employer usually pays half and we pay the other half.
I know. I have been paying taxes on self-employment income for 3 years. :) Even with the increased SS tax burden, the deductions are substantial enough to make it so I keep more of my earnings than I do when working for someone else. And I'm not taking questionable/excessive deductions, because I don't have the ******* patience to deal with an audit.
well I forcefully support millions of lazy freeloaders with my sweat-stained money, so I guess I have lots of children. So, what do you think?[/quote']
wow, way to stereotype! I suppose your ok with people who generalize that nurses are just lazy, in it for the "money", and not smart enough to be doctors?
, and I don't know about you, but to me, that doesn't feel very much. I have friends who are teachers, architects, interior designers, and etc, and seeing the way they spend, I doubt that I make more than they do. If I even increase the times I eat out by little bit, I can clearly see my budget affected by it, and it seems like everyone and their grandmother eats out everyday and they still have money to buy other stuff. 
tarotale
453 Posts
what you say is true. i do see some people first-hand who make poor choices financially, and I wonder did you really need that new stuff (phones, cars, electronics, etc). I just spent aboug $95 on amazon on some stuff, but I had waited about a month for this purchase because I try not to spend too much every paycheck (got paid today).
By the time you're a nurse, all that money will look like peasant wage because all the stress, responsibility, bs to deal with pts, families, admin, and politics will just not convince you that you're being paid for what you do... but that's for another book lol. oh ya, tax SUCKS too. take it from middle class to pump it back to lazy class. murica.