Salary and Negotiation

Published

I know this has been a thread before, but let's have an updated conversation now that we are in 2017. I am posting this as I am a soon-to-graduate NP student and because I am a female. Nursing is still a female-dominated profession and I would like to empower other NPs (both male and female) to better negotiate and claim their professional worth. I believe one way to do this is by sharing information. Lets do this!

City/State:

Years in current position:

Salary:

Benefits:

Bonus:

Negotiation tips?!

This was in response to another user but it ended up here at the end of the thread. Sorry.

This is not true for NPs. It is true for RNs though. Unfortunately, many new grad NPs think they will be offered a fair market salary because RNs are. But, like MDs an NPs salary relies on negotiation. It is very important that you find out what your peers are making. ASK your preceptors. The online salary websites are lies. Thanks to a younger NP I was cued in on what salaries really look like and I negotiated a salary that I believe to be fair and lucrative for me and the institution I work for. I also happen to know that my professor who works for the same institution, who has 20+ years NP experience and has worked for them >10 years makes less than I do, and I have zero experience. Needless to say, she just accepts what she is offered year after year.

Up Vote Up Vote ×

City/State: Portland, Oregon

Family Practice

Years in current position:0

Salary: 100,000 + bonus

How many hours you work:36/week

Benefits: 3 weeks PTO for the first two years and 4 weeks PTO thereafter, 6 paid holidays, 1 week sick leave, 1 week CME + $2,500 for CME expense, 401k with employer match, medical, dental vision, long/short term disability, $5,000 sign on bonus, total of $40,000 towards my student loans to be paid at $500.00/month

Bonus: $30/wrvu above the mean I produce

Up Vote Up Vote ×
total of $40,000 towards my student loans to be paid at $500.00/month

Wow you super lucked out! That's fantastic. Especially being able to get that working in a large metro like Portland and not rural.

Up Vote Up Vote ×

fully agree, salary sites give low ball. I don't know why. And if I had just accepted any offer I was given I would be making way less.

Up Vote Up Vote ×

City/State: OH

Years in current position: Emergency 2 years

Salary: $113,750 12 shifts/month

Benefits: Health insurance paid for in full by group (any out of pocket reimbursed up to deductible the insurance covers at 100% after met), CME/business $3500, profit sharing 25% of gross base salary, 401k, 120hrs paid vacation time.

Bonus: 6-8k/year.

May have forgot something...basically only thing that comes out of my check is taxes and my %deduction to 401k.

Up Vote Up Vote ×

So you make over $25000 extra on top of the 113k?

Up Vote Up Vote ×

Yes. However, the profit sharing portion goes directly into an investment account.

Up Vote Up Vote ×

California

3 1/2 yrs

Salary: $220k - 40 hrs/week

Benefits: 3 wks PTO, 1 wk CME, 401k w/match, insurance, 10 holidays

Tips: Forget what other NPs are making. Have high productivity. Know how much you are generating in revenue. Negotiate based on what MDs are getting paid - start with 85% of MD pay.

Up Vote Up Vote ×
California

3 1/2 yrs

Salary: $220k - 40 hrs/week

Benefits: 3 wks PTO, 1 wk CME, 401k w/match, insurance, 10 holidays

Tips: Forget what other NPs are making. Have high productivity. Know how much you are generating in revenue. Negotiate based on what MDs are getting paid - start with 85% of MD pay.

Do you work for a hospital or private practice? What specialty?

Don't they have set amounts they pay their PAs/NPs? I've always had the same opinion as you with the 85% of MD pay and productivity, but i'm afraid to mention that, even though I'm aggressive with negotiating. Do you bring up the pay after you've worked in the practice for a while or right at the outset? I just feel that they'd hire another NP at 100k or 95k since there are more in the market now.

What is your productivity like in terms of coding/patients per day?

Up Vote Up Vote ×

Outpatient clinic. Psych. Of course they have "set amounts" - but they don't mean anything unless you let them. How can you be "aggressive" if you're afraid? If you are clinically strong and have high productivity then you have value. If you are clinically weak with average or low productivity then you are easily replaced. I have the highest productivity of all providers (MDs/NPs/PAs) in the clinic.

Up Vote Up Vote ×

That's good to know, thanks TheOldGuy. Will this translate to FNPs though? I know there are less psych NPs and you can probably command a much higher salary, or do you know any FNPs earning in that range? Should I go back and get my Psych certification as well?

Up Vote Up Vote ×

Why wouldn't it? You have to think like a doc and not like a nurse re salary. You also have to be willing to walk. I have been offered much lower compensation a number of times - I just said "thanks but no thanks". I am good at what I do and will not accept low pay. If you are good and you know what you want and are willing to walk if you don't get it then you will be more successful when it comes to increasing your compensation.

Up Vote Up Vote ×
+ Join the Discussion