Is it worth the money to become an NP? (read this, I promise it's good)

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Good morning! Thank you for reading this post. I have been an ICU nurse for 7 years and love what I do. Three years into my staff nurse position at the ICU, I managed to get a part-time job at a large insurance company doing case management but I continued to work in the ICU as well. I have been working both jobs for the last 4 years while my husband went back to school to get his PharmD. I currently work full-time as a work at home clinical advisor making $69,500 annually for the same insurance company and working prn as an ICU charge nurse 4-5 shifts a month. My husband will get his PharmD in June and has secured a job with Walgreens in which he will be making $119,000 annually. We have talked about me going back to school to become an NP because I need something else and I want to take care of transplant patients. I would like to specialize in Nephrology and take care of kidney transplant patients because my husband got a kidney transplant at the age of 27. I do have a Bachelor in Business prior to getting my BSN and I went into nursing school my husband was diagnosed with end stage renal disease at 21 and I wanted to be a nurse so I can take care of him. So this is where we are at. Ten years and 2 kids later, my husband is doing great with his mom's kidney and we are grateful but we also need to plan for the future. The future is different for our family because we know there is a chance that my husband will need another 1 or 2 kidneys. Therefore, I can never stop working and I need to always be making decent money.

So here is the fork in the road...Should I try to climb the ladder at this insurance company and make more money to secure my family's future or should I go back to school to become an NP. Remember, I work at home as a clinical advisor with absolutely no stress making $69,500 and working the prn gig in the hospital to pay for out of pocket healthcare costs due to my husband's frequent check ups. We have two boys and want to have another child in 2016. We also have about $150,000 in student loans (private business and nursing schools for myself, Master in Teaching and private pharmacy school for husband). We also have a mortgage but those are our only debts. The NP practitioner program that I am looking at is about $30,000. I do have to take two pre-reqs which will be around $3,200 for both. The insurance company that I am working for does have a tuition reimbursement of $5,000 annually. If I go the NP route, I plan to still work full-time for this insurance company as a clinical advisor (no climbing the ladder because that may require me to go back to the office and may have added stress), drop the prn gig at the hospital (because I can't do it all), take care of 2 boys (thank goodness my mom lives with us and provides childcare, housekeeping and cooking services), do well in school (because once I set my mind to something, it has to be successful) and take care of my husband (because I love him).

HELP! I wish I can travel into the future and try both! :) I know it shouldn't be all about the money but I have a spouse who may have some serious health issues in the future. I need to think about how I can get the best medical care my husband and feed my boys.

Stay with insurance company and climb the ladder to make more money, no NP school: Pros (no stress in current role but may have more stress due to more responsibilities that come with the promotion and more pay), Cons (won't be able to take care of transplant patients)

Go to NP school, continue to work current role as a clinical advisor to get tuition reimbursement and contribute to 401K and help husband pay back student loans, No climbing the ladder: Pros (get to learn something new, possibility of making more money, learn more to take care of husband, insurance company that I currently work at may employ more nurse practitioners in the future), Cons (more money for school, husband wants to pay as we go because we can't afford any more student loans; the struggles between MDs and NPs)

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Come on people! Give this dog a bone here. Over 250 views and nobody wants to say anything?

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Specializes in ICU.
Come on people! Give this dog a bone here. Over 250 views and nobody wants to say anything?

Aw! Some of us just don't have any good advice for your tough situation! Though I think that a lot of your decision should be based on what you WANT to do! It may not be practical advice....but do what you think will make you happy/content in the long run! :) Either way- good luck!!

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Pay off some of those school loans before you take out anymore. Your husband and yourself make a decent salary, SAVE SAVE SAVE. Go back to school later.

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Specializes in Nephrology, Cardiology, ER, ICU.

Moved to student NP for more answers

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With that debt I don't think it's worth it personally. Where I live an ICU nurse with that experience and a LITTLE OT hits 100k easy. What's the advantage of being an NP?

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I like all the replies so far. Keep them coming. Yes, if I plan go to NP school, I will use tuition reimbursement through work and then cash flow the whole program. Absolutely no more student loans. Our plan is that we live on my salary and all of my husband's earnings will go to a separate account to use only for paying on student loans. We estimate that we will pay all of the student loans in 2 to 3 years. We both want to contribute 18K each annually toward our 401K. I currently have $50,000 in mine but husband does not have any. We have about $40,000 of equity in our home.

The main reason why I want to go to NP school is to take care of kidney transplant patients. There is a transplant hospital near my house but the management there has a terrible reputation. I would love to work as a bedside nurse on a transplant floor but not at this hospital near my house. My husband was only 21 when he was diagnosed with ESRD so it was extra hard on us because it was just not normal for him to have this terrible disease. When you envision someone with kidney disease, you think of someone in their 60s and 70s, not a 20 year old saint like my husband who is a kind and wonderful human being. My husband has been through hell and back countless times and there is not one single mean or bitter bone in his body. There was not a lot of support for us. We didn't feel like we belong anywhere. I want to be a nurse NP to take care of and hug those young people with ESRD.

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Wow must say this is a touching and inspiring story. I just love love love how you have so much passion for your husband and how you want to integrate that into your practice as a possible future NP!!!! :) :) WOW.

love it.

I really think your student loans are too high..I must say your husband makes a HEFTY salary upon which you can easily pay it off in 2-3 years ALTHOUGH, since his health is not optimal, you can't count on his salary with 100% confidence, you HAVE to be very frugal and think of your children's financial future. ( I am not saying this in a derogatory way….;) )

THEREFORE if your heart truly does want to go for an NP I Would do it BUT do so AFTER you have paid down your loans…….maybe in 2-3 years? OR if you want to take the financial risk as I am going to call it, do it but do a part time or slower track…..so you don't have to pay as much at one time and you can still focus on your family 100%.

I do have to say I am jealous of your salary!!! 69,500 working from home no stress? wow….I made 40,000 in a hospital always stressed to the point my body started showing deterioration (not literal but I'm young but my job was draining me….) so I would NOT take your decision lightly………….some NP's make about 75-80 K , they're not all making 6 figures…so I suggest you doing some research here as far as the FINANCIAL aspect of a nurse practitioner…is it worth 15-20 grand tops for lots of stress when your husband is making over 6 figures…..?

Some people obviously lie and say they're making a ton but if your'e seeing 35 patients a day working 5 12 hr shifts….of course you may actually be banking….but that would be for a single person…not someone with a family and kids !!!!!

Ok so im' done with the long rant here lol I do wish you luck and admire this post :) It actually made my day..

God bless you and your family

I hope this post has helped even a tiny bit

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I think you've gotten some good advice here. Pay off as much of your debt as possible in the next couple of years. Maybe pick up a few extra shifts in the ICU if you can. Then you will be in a much more comfortable position to return to school.

If you have your heart set on only being a transplant NP, then I would strongly suggest doing some networking with area hospitals and providers to see exactly what the job market will be. The ideal situation would be to get a job offer in writing before you return to school. The last thing you would want is to spend all that time and effort working toward a future career that may not have any available jobs in your area.

I would also suggest that both you and your husband take out life insurance policies (if he can get one with his health conditions) that would be large enough for you to pay off your debts and help with living expenses from the loss of income. I know that may sound morbid, but tomorrow isn't promised to anyone. You don't earn enough money alone to pay all the bills and his health may prevent him from keeping a full time job. The last thing either of you would want for the other would be to leave your spouse in a financial situation where they may not be able to provide for your children.

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Specializes in ICU.

Well, I think you need to realistically assess the job market for NPs in your area, and ask yourself what your chances are of realistically being able to land a position that allows you to work with transplant patients in your area. You need to ask yourself if you would be content working as a NP in an area other than transplants (just in case). It is possible that you could jump through all of the hoops just to end up only being able to find work in a different specialty. If you can get tuition reimbursement and don't mind putting the work in, then by all means..pursue NP. Just realize that its very possible that you may not end up working with transplant patients.

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More replies YAY!!! Thank you for your guidance. This is helping me! I love reading your perspectives. The good, the bad and the ugly! I want it all!

@nyc2011 Yes, the full-time job that I have right now is AWESOME. The salary, the work from home, no talking on the phone, no stress whatsoever and the hours (I get to make my own hours, I usually work from 6am to 2:30pm) are all strong points. You are correct that I cannot count on my husband's salary with 100% confidence. We are reminded of his kidney transplant at least 2 times a day when he takes his medicines. We are always preparing for the worst but hope for the best. My husband plans to take on a part-time or prn job in addition to working full-time at Walgreens to pay down the debts. We know a waitress who is on dialysis and my husband tells me all the time that if she can carry all that food and be on her feet 8-9 hours a day then he can still work if he needs to be on dialysis. I told him I would rather sell my blood and eat dirt before I would let him work while on dialysis. Thank you for reminding me about life insurance. My husband does have a policy that he parents bough for him before he got sick. I don't have one but I will talk to my husband about it.

Your post helps a lot! It makes me so happy that my post made your day. Your reply brought a smile to my face. Are you still in NYC? My insurance company is growing in your part of the US. I want to go to NYC or Hawaii for our 10th anniversary this year but with two kids and a mountain of debts, I know my chances are close to 0 so I have been living vicariously through the youtube personalities by watching their vlogs of NYC/Hawaii.

My husband asked me if I regret meeting him and I always tell him no. I would rather spend 1 day with him than to be with someone else for a whole lifetime. I was watching Dr Phil while breastfeeding my son yesterday and he had a guest who is 71 years old, she was married twice but has never been in love. I am so fortunate that I am in love and have someone who is also in love with me. Thank you again for your time.

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@sadiemae1123 Thank you for your time. You are correct that I can pick up more shifts in the ICU. My mom lives with us and helps out tremendously! It is going to take a lot of sacrificing to be debt free. I will accompany my husband to the next appointment with new transplant doctor (his transplant hospital just opened a satellite clinic in our city so we don't have to drive 2 hours anymore). We are hoping that I can shadow either that transplant MD or one of the NPs. Yes, husband has life insurance and I will definitely do my research to get my own policy.

The insurance company that I am working for just acquired a company that employs almost 150 NPs. I am hoping to work part-time for this insurance company once I become an NP and then work full-time as a transplant NP at a clinic. This insurance company has a great 401K matching program! I would hate to leave that and 5 years of seniority and networking.

By the way, My husband and I love the name Sadie. My husband was an elementary school teacher and one of his best students was a bright girl name Sadie. We have not seen our Sadie in 4 years but we talk about her often. Thank you again for your guidance!

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