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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!

Rose_Queen, BSN, MSN, RN

Specializes in OR, education. Has 16 years experience.

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. 

Jedrnurse, BSN, RN

Specializes in school nurse. Has 29 years experience.

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?

JBMmom, MSN

Specializes in Long term care; med-surg; critical care. Has 9 years experience.

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. 

Rose_Queen, BSN, MSN, RN

Specializes in OR, education. Has 16 years experience.

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. 

Jedrnurse, BSN, RN

Specializes in school nurse. Has 29 years experience.

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!

SilverBells, BSN

Specializes in Rehab/Nurse Manager. Has 6 years experience.

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! 

JBudd, MSN

Specializes in Trauma, Teaching. Has 40 years experience.

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.