new grads of direct entry programs: are you paid as an NP or an entry level nurse?

Hello everyone,

I am nearing the point where I should be hearing back from schools about interviews to their direct entry nursing programs (I've already scheduled an interview with one!) and I'm suddenly freaking out about the outcome of all this. I mean, what happens when I graduate as an NP with no prior nursing experience, aside from the clinical portion during the program? I ask this because I am really worried about paying back loans after graduation. What if, and this is what I predict, I will have to work at entry level nurse's pay for several years before I am paid commensurate with the level of education I have? It's not that I mind working as an entry level nurse to gain experience, but at what stage are you finally paid as a nurse practitioner? Or maybe, I have no clue what I'm talking about here, hehe. I have no idea, really, how nurses salaries are scaled with regard to advanced degrees and experience levels, which is why I'm asking these questions.

I also wonder if I choose psychiatric mental health nursing, will they hire me first as an entry level nurse in this speciality or will I automatically be assigned responsibilities as a nurse practitioner? In many professions (teaching I know for a fact) they automatically raise your starting salary if you are hired with a masters degree, regardless of experience. Obviously, this is not recommended in the healthcare field, where experience is considered more important. It's just something I've been thinking about the last couple of days and haven't been able to find an answer to. Last minute worries, I suppose, as I wait for letters in the mail.

~chickpea