2nd Try, Salary Study, How Green is Your Pasture??

  1. First try posting this thread didn't take, so lets try again . . .

    Medscape nursing recently posted an excellent study regarding nursing salaries vs. cost of living (and therefore real buying power) for the 50 states.

    Click here to see where your state ranks
    Table 1.doc

    Congratulations Texas nurses, you have the greenest pasture when it comes to salary vs. cost of living (disposable income).

    Sorry Hawaii nurses, your salary is eaten up with cost of living . . .you came in last regarding disposable income. :smackingf

    Here's the link to the full study: http://www.medscape.com/viewarticle/541776?src=mp
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  3. by   azhiker96
    Thanks for posting the information. Way to go Texas!
  4. by   azerrn
    I didn't notice New Hampshire on your list. Any particular reason?
    Thanks for the info.
  5. by   azhiker96
    Quote from azerrn
    I didn't notice New Hampshire on your list. Any particular reason?
    Thanks for the info.
    I found the answer in the article,

    One of the limitations of this analysis is that the voluntary nature of the ACCRA COLI data collection means that not every eligible city in a state is represented in the data during any specific quarter. When aggregated to the state level, as in the case of the MERIC COLI used in this analysis, the uneven nature of the ACCRA data may result in better data for some states and worse data for others. It is not possible to determine which states in this analysis might have suffered from poor representation since the MERIC COLI is published without the city-level detail needed for that determination. Two states do not appear in this analysis (Maine and New Hampshire) due to insufficient representation in the ACCRA database and, thus, exclusion from the MERIC index.
  6. by   hope3456
    very informative article. And yes, nurses everywhere are looking for "greener pastures!"
  7. by   RNRebecca83
    That salary study is too generalized. Some states are really big, it may depend on the city or area you live. Also each area in a state may have different pay scale as RN shortates may vary. It may also depend on your lifestyle too. For example, if you rent instead of buying a house in some states, you may end up more savings. Green or not, you have to your own detailed calculation against your own expenses in your area.
  8. by   SmilingBluEyes
    WA fares well. Number 9 before COL adjustment, Number 3 after. We seem to do well. But you have to factor in that pesky LONG rainy season.....rofl.

    I just know I am happy here.
  9. by   SmilingBluEyes
    Rebecca raises some valid points......for example, the COL in WA varies wildly, with it being MOST expensive west of the Cascades, esp in certain counties around Seattle-Tacoma-Olympia. I actually knew a few people who took travel assignments, who lived east of the Cascades, and took their "big bucks" earnings from Seattle home with them, where it was DEFINATELY much cheaper to live!

    You do have to consider a lot of things in there, not just the state you are in!
  10. by   LEVODEVO
    That study backsup why I work in Mass. and live in LIL RHODY...
  11. by   sunnyjohn

    This is a great table for all those who are thinking about moving around.
  12. by   Havin' A Party!
  13. by   chichimitchi
    go georgia!!
  14. by   Sheri257
    This is what bugs me about this study, and forgive me for saying this (again). California is rated one of the lowest in this study (44th) as far as bang for the buck. But consider this scenario:

    Three and half years ago my husband and I decided to do two things: buy a cheap house with a lot of appreciation potential in a rapidly rising, expensive housing market. We also decided to put me through nursing school.

    We bought a house out in the desert for $150K which is nothing fancy but today is worth $320K, even with some of the recent market depreciation factored in (at the peak of the market our house was worth $335K).

    If the market goes down even further ... with that much equity, who cares? We haven't borrowed on it and we'll still have at least $110-$120K in home equity even under the worst case scenario of 20 percent depreciation, which is what happened in the last real estate crash of '92.

    As a new grad, RN wages in my area have gone up by at least 30 percent since I've been in school and, just in the last year, there are now some job opportunities where I'll be able to make $45 an hour with benefits, $50 an hour within two years.

    And, since I've been in school, the ratio law took effect which started at 6 patients per nurse on med surg, tele, etc., now it's down to 5:1 and in 2008 the ratios will go down to 4:1.

    So ... quite frankly ... I don't care what any study says. For me, at least, California is still the golden state. My pasture is pretty green ... and the working conditions and job opportunities are getting better all the time.

    Now I ask you .... would I have these kind of job opportunities, working conditions and home equity elsewhere? I seriously doubt it ... having lived on both coasts and in the south.

    Sometimes the COL is low because there's not much money there to begin with, and when there's not much money in the marketplace there's not much upside or income potential either.

    Last edit by Sheri257 on Dec 27, '06