how do i max my income as new grad

[focker-male nurse]

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

[jov]

My advice is to get the best experience in the most needed criticial speciality ie ICU, ER ect.... put the max in your 401 K now, go back to school and get an advanced degree ie NP or anesthetist. Look at the long term.

Here in Illinois (just outside Chicago) NP's only make about $60...$70k max unless you have experience and shop around a good long time. Seems NP's don't make much more than RN's -- add in the RN's OT and hospital bennies and you might want to stay right there.

Am not an RN yet (semester 4/5 for BSN) but at our last clinical, the hospital told us we could work 12 hr shifts (7a-7p) F, S, Su, get 1 weekend off every 4 weeks and the pay for us brand new RN's was $42/hr.

[focker-male nurse]

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

Sure.

jacksonville state university has one. look up Jacksonville State University

also UAB University of Alabama School of Nursing at UAB

JSU is cheaper and only requires inorganic chem not organic, UAB requires both. And UAB also requires pathophysiology which JSU does not. And lastly, JSU doesn't do clinicals for this program, I'm not sure about UAB.

There may be other programs in the state but I am not sure.

You have to have all the nursing prereqs done for your BSN which is a little more involved than an ADN's requirements.

The program is designed for liscensed RN's who have a two year degree and want to convert it to a four year BSN.

I hope this explains it.

Good luck,

matt

[damarystx]

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

50k would be about 150k home loan again rough estimate and 50k annually is about 24 an hour based on a 40 hr work week.

[Ohmygosh]

Sure.

jacksonville state university has one. look up Jacksonville State University

also UAB University of Alabama School of Nursing at UAB

JSU is cheaper and only requires inorganic chem not organic, UAB requires both. And UAB also requires pathophysiology which JSU does not. And lastly, JSU doesn't do clinicals for this program, I'm not sure about UAB.

There may be other programs in the state but I am not sure.

You have to have all the nursing prereqs done for your BSN which is a little more involved than an ADN's requirements.

The program is designed for liscensed RN's who have a two year degree and want to convert it to a four year BSN.

I hope this explains it.

Good luck,

matt

Thanks Matt!! I appreciate the information ...I am definitely going to look into the JSU program once I graduate in May. :monkeydance: Do you have any hard numbers on the cost of this program? Unfortunately I only have one of the (non-adn) pre-req courses, so I would definitely have to work on that. Do you know if JSU offers all those pre-req's online as well?

[MsKieshaRN]

I'm in Cleveland, OH, and I just Graduated in December. I was offered a position in a nursing home and the starting for a new grad including a second shift differential is 27.71. The same faccility has a MDS nurse position that starts at 25.83. This place boasts having the highest start rate in Cuyahoga county. I was also offered a position on two different floors in the hospital where I work, and one floor is salaried, so the rate is 48,900 which breaks down to about 23.50s/hour, and the other floor is paid hourly, so it is 22.33. A classmate of mine was offered a position with the hospital down the street from where I work and was offered only a few cents more. so you see ya have to pretty much look around. btw I have an associates degree if it matters in pay rate.

[MsLady06]

Baylor is the hospital that first started the "weekend only" plan that become immensely popular. They paid their nurses full time pay for working two 12-hour shifts a week every single weekend. It was very popular with mom's and others at the time. A lot of nurses work weekends only and then a few days during the week (which in some cases is considered overtime, or they take advantage of short staffing bonuses, etc.) and can make a killing.

Some of these nurses work 36 hours a week, are getting paid for 40 and the 12 hours are at time and a half.

Hospitals have modified the Baylor plan to suit themselves, but most places have some sort of incentive plan for people who are willing to work every weekend. As I mentioned above, this is not a plan that is typically offered to new grads.

very informative...thanks for posting!

[Julie_Bean]

I just graduated in december and was able to negotiate about a 1$ more/hour but I've been a tech there through nursing school for 3 years and thats what helped out so much. THere is lots of good advice in this thread. Thanks everyone.

[STEVE RN/EMT-P]

There is a lot of great information on this thread. Something that no one has touched on though is this - if there isn't a lot of money to be made where you are - then move where the money is. I am from Massachusetts and when I graduated 5 years ago from my BSN, I applied to 30 hospitals in the New England area. I looked at starting salaries, cost of living, and what kind of career options I could have in the future into consideration (because let's face it, most people don't stay in their first job forever). Starting salary at my hospital (in CT) is about 26/hr and with differentials being based on percentages and not a flat rate, there is a lot of money to be made!

Lastly, I echo the others who say to specialize right out of school. I found that many of my colleagues who did not were unhappy and ended up changing jobs very early on (less than 6 months). Nothing at all against the med/surg nurses, but at my facility their rate of job satisfaction and is significantly lower than that of the specialized ICU/ED, etc. positions. It also opens up a lot more possibilities down the road and will lead you into other directions. Five years after my graduation, I find myself in a CRNA program, something that I would have never imagined before. Take a chance, I can almost guarantee that you will be glad you did!

[Roy Fokker, BSN, RN]

the people with the worst financial stories and histories are young adults. it's a myth that once someone graduates college and gets a job, they miraculously fix their financial hole. far too many succumb to the temptation of sudden liquidity and end up deeper in debt than expected.

as many folks have given you tips on pay and where to go for more money, i'll add my thoughts on what to do once you do end up starting to make more money :::

- i cannot emphasize the importance of savings to any new grad. over the past decade or so, american individual discretionary income/spending has largely been fueled through credit (debt). savings have been falling... whilst personal insolvency has been steadily rising - not a good sign.

- don't ignore your retirement [hint: donot rely on social security. social security is bankrupt]. remember, the majority of millionaires in america are not hot shot investors or bill gates/paris hilton types --- it's those folk who spent wisely and saved earnestly all through their lives. don't believe me? ask warren buffet

- don't rush out to spend money immediately. resist temptation to splurge. it's ok to cut loose once a while and let your hair down. just don't do it too often :)

- if you have credit card debt (and other debt) - pay it off. now. interest rates are definitely going to keep going up [particularly after the housing bubble implodes], despite what the fed keeps claiming (it's either that, or monetary deflation. either way, you're toast).

- manage your money - and this means not just checking on account statements every month. "managing money" means budgeting expenses - see how much gets spent where (food, clothing, bills, utilities etc.) .... down to the last dollar. prioritize your expenses - what do you want from life? what are your goals? (example: in 10 years, i want to own a nice car, make enough for a down payment on my own house and be able to support a family of two). start planning for those goals - it doesn't have to be a rigid plan, but a frame work is important.

managing money is just as important as making money.

cheers,

new grad who is used to getting tips from his dad (banker)

[focker-male nurse]

Thanks Matt!! I appreciate the information ...I am definitely going to look into the JSU program once I graduate in May. :monkeydance: Do you have any hard numbers on the cost of this program? Unfortunately I only have one of the (non-adn) pre-req courses, so I would definitely have to work on that. Do you know if JSU offers all those pre-req's online as well?

As far as hard #s youd need to call JSU, Im not sure.

I took nutrition online at the university of alabama but as far as chemistry i am not aware of any online programs mostly because labs are required.

[Terpole]

Here in Illinois (just outside Chicago) NP's only make about $60...$70k max unless you have experience and shop around a good long time. Seems NP's don't make much more than RN's -- add in the RN's OT and hospital bennies and you might want to stay right there.

Am not an RN yet (semester 4/5 for BSN) but at our last clinical, the hospital told us we could work 12 hr shifts (7a-7p) F, S, Su, get 1 weekend off every 4 weeks and the pay for us brand new RN's was $42/hr.

As much as I love Florida, I'd sign up for that with no second thoughts....

Wouldn't even pack up my student apartment, just tell my roomies anything in there you want you can have:devil:

[Quickbeam, BSN, RN]

OP...here's my suggestion. I worked straight nights for 10 years. Once you get settled into a job (which is almost always better paid for nights), be as pleasant and as open as possible to being called at home for extra shifts. If schedulers know that you won't yell and that you'll consider last minute work, you will get extra work, I don't care where you live.

Another thing I did was work full time and have a second, in-house pool job in a different specialty at a different facility. I found that kept me much more interested and invigorated.