Master of Nursing and Salary

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I am currently completing my master of nursing (generalist) for right now. I am debating specializing in nurse research...but I am curious to hear of anyone's experience in this area. Of course if I am spending a good chunk of money to go back to school, I would like the degree to be worth it financially. Thanks for any input!

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Specializes in OR, Nursing Professional Development.

It’s really going to depend on what your specialization is. Mine was education. Moving into an educator role moved me up one pay grade, but ended up being a pay cut because I no longer get OT pay. 

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Thank you @Rose_Queen for the information!

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Specializes in school nurse.
On 2/17/2021 at 12:25 PM, Rose_Queen said:

It’s really going to depend on what your specialization is. Mine was education. Moving into an educator role moved me up one pay grade, but ended up being a pay cut because I no longer get OT pay. 

Do you often have to do OT in that role?

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Specializes in New Critical care NP, Critical care, Med-surg, LTC.

My experience lead me to a MSN that is worth literally nothing. I completed the MSN in management and executive leadership thinking that's where I would most likely end up. And then I realized that I HATED management and anything to do with it. Now it's just extra letters on my name tag. It was, however, free, so I guess it wasn't a total waste to figure what I DON'T want to do. 

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Specializes in OR, Nursing Professional Development.
54 minutes ago, Jedrnurse said:

Do you often have to do OT in that role?

No, and when I do my boss makes sure I get compensation time (time off without using PTO hours). It just may be the next week or a couple of weeks later. In my clinical role, I got TONS of overtime because of on call for the OR. 

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Specializes in school nurse.
1 hour ago, Rose_Queen said:

No, and when I do my boss makes sure I get compensation time (time off without using PTO hours). It just may be the next week or a couple of weeks later. In my clinical role, I got TONS of overtime because of on call for the OR. 

That's great that you get the comp time!

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Specializes in Rehab/Nurse Manager.

I am still in the process of finishing my master's degree, so haven't actually experienced a pay increase in relation to actually completing it.  I can say, though, that simply the fact that I was getting my degree did help me land my current position as a nurse manager, which led to a pay increase, including a quarterly  bonus for the next two years.   Whether or not a degree is "worth it" can probably only be determined on a case-by-case basis, but can definitely help open up opportunities if you're able to connect with the right people.   I have no experience in nursing research, so unfortunately, cannot give any advice in this regard, but you may find it helpful to reach out to the directors of programs you are interested in to find out more.  It's also possible that once you are enrolled in a program, one of your professors may be able to lead you in the direction you are looking for. 

Good luck! 

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Specializes in Trauma, Teaching.

I still make more at bedside than I do using my MSN in education at the community college.  I teach because I love it, but have turned down offers of full time faculty, mostly because I would still make more being part time in hospital than full time at school.  Go figure. (Plus I work nights, for 30 years, can't imagine having to do "8-5" everyday, not that teaching stops at 5PM).

I do get an extra $3/hour at the hospital, for having a master's though, my union negotiated extra pay for higher degrees.  So the RNs from the local school get a raise for going back for the BSN, and me for the MSN.  Also have education money available to help get those degress.

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Specializes in Psychiatry, Forensics, Addictions.

I have a MSN in public health nursing which is pretty useless and has not gotten me any extra pay.

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Specializes in orthopedic/trauma, Informatics, diabetes.
On 2/19/2021 at 2:19 PM, JBMmom said:

My experience lead me to a MSN that is worth literally nothing.

I have my MSN in Informatics and was not really prepared in my practicum to go into that, and although I know in the private sector, it pays well, I have stayed at the bedside and am on a few informatics committees/work groups. It lends me some overtime and the ability to climb clinical ladder. I purposely did not do education (even with a MA in teaching) b/c it does not pay what I am earning now. 

It was part of my bucket list to get a degree from the university associated with my hospital and they paid for 75% of my tuition so I am OK. 

I don't think any education is wasted ?

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Specializes in New Critical care NP, Critical care, Med-surg, LTC.
39 minutes ago, mmc51264 said:

I don't think any education is wasted

I do agree, I shouldn't have phrased my response quite so harshly. My degree holds no monetary value at this time, because my hospital doesn't pay floor RNs anything extra for having a BSN/MSN/specialty certification.  I did learn about health care systems more in depth than I would have without that degree. Our union is working on getting a bonus system in that would attribute monetary value as well. I just feel like I've been a student forever and sometimes the busy work aspect gets tiring. 

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