Is MSN worth the Cost?

  1. Hello! I've been toying with the idea of pursuing my nurse education degree. I've seen that becoming a Nurse Educator does not result in a pay raise from staff nursing. How true is that? So I'm concerned that the cost of a masters degree is not worth it because there is ultimately no pay raise in the end. Anyone else experience these concerns? Does anyone have input on why it's worth it? Thanks
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  3. by   not.done.yet
    A lot of this is subjective. I got a significant pay raise going from floor to PD Specialist, but that is because I didn't work a lot of overtime, was day shift to begin with, etc.

    The cost of school depends very much on where you go and whether your employer picks up some of the tab. I got my MSN for next to nothing through WGU due to employer reimbursement. I took out no loans at all.

    The "worth it" part can only be defined by you. I personally prefer to make a steady income in exchange for not having to be on the floor dealing with that level of stress. For me a solid 80-95K per year is plenty to live on comfortably. I can always work PRN on the floor or can get a second job doing adjunct faculty types of positions if I really want more money.

    I am really happy with my decision and have no regrets.
  4. by   elkpark
    I agree with not.done that "worth it" is a v. personal consideration, and involves more than simply money. If the degree allows you to do something you really want to do but can't do now, without the MSN, even though you won't make more money, many people would consider that "worth it." If it provides you with significantly expanded career opportunities or flexibility, regardless of money, that may be "worth it." Only you can decide for you.
  5. by   Pixie.RN
    While simply becoming an RN opened doors, my advanced degrees have opened far more! I would not be in my current position without the MSN. Very worth it for me.
  6. by   JaxJax5423
    Very worth it! Many open doors, money, and personal satisfaction. Rather than 12 hour shifts, nights, weekends, holidays, I make my own schedule (no holidays, or nts or weekends if I choose not to). I work some bedside but I have an office. I am currently faculty and a unit educator. That's what will answer your pay question. As faculty, it's a great job with possible good pay. An Adjunct Faculty in my area makes $39-50 an hour. Full time faculty jobs are where you may likely take a large pay cut. Most schools post faculty salaries on their websites. I have to admit I found that the most frustrating. The job was fine (flexible, rewarding) but the pay was embarrassing. As a hospital educator, the salary makes the degree very financially worth it. I'll be honest and say I made over a 20K raise going from full time faculty to clinical educator. I still adjunct because teaching is enjoyable.

    Just sharing my journey as I am constantly on all nurses seeking advice. Good luck! Education is never a waste.