New grad residency, is this a good opportunity?

[aok7, NP]

I just graduated in April, and I am considering an opportunity with a start-up company in my field of geriatrics, where I will be the evening NP for a sub-acute rehab. I used to work in rehab as a RN, and I always thought there were not enough providers during off-hours, so I actually appreciate the hours. Also, there are some novel plans for diagnostic testing and higher-acuity support so that we can avoid sending patients right back to the hospital. The other positive, it is a residency program, the physician is all into teaching and seems to really value NPs.

So, the negative...it's about pay. I do get paid, definitely more than I earned as a RN, but not nearly as much as the going rate in the area. I feel like it's an incredible opportunity for learning, but I don't want to be naive at the same time. Does anyone have any insight on their first year experiences in general, the training I would expect, and especially, any thoughts on residencies would be so appreciated.

[Jules A, MSN]

It sounds like an excellent opportunity to get in on the ground floor of something promising. How long is it and what is the pay increase after the residency is over? Definitely make sure that is in writing. I love working off hours but would require a shift-diff for evenings, nights, weekends and holidays when it is completed. It is nice that you are at least making more than as a RN because some of the experienced NP rates I have seen on here are not much more if any than RN rates.

[aok7, NP]

It is one year in length, and the pay is competitive after that.

I agree that off-hours are great. I work the evening shift in my current RN position.

I didn't say this is in the SF Bay area. I guess it would be about the same rate as my current RN position if living expenses are adjusted. Nonetheless, I agree that it is sad that some NP rates are lower than RN rates. This was part of my concern, as I believe NPs will be paid what we allow ourselves, so we need to be careful. At the same time, I like the idea of a residency.

[FullGlass, BSN, MSN, NP]

An NP residency pays less than a regular NP job, just as MD residency pay is less. If the pay is competitive after residency is completed, that is fine. A friend of mine is in NP residency in the SF Bay Area and is making $80K a year.

[Dranger]

I would expect to make less as a resident, similar to MDs and their residency. However, I expect a significant increase after I finish and ma offered a job.