The Economic Realities of Trying to Get Into CRNA School: Is It Worth It?

suzanne4, RN · May 7, 2006

My suggestion always is that you should go into anesthesia because it is something that you really, really want to. And would be willing to sacrifice to be able to do it. Then it is for you.

You may actually find a different area that you actually like better. And guess what? I did. There are so many different areas of nursing, and there is money to be made in all of it.

If you have to crunch numbers thinking about it, then my suggestion? Do not do it. Get thru your BSN, then decide what you really want to do, or you may want another specialty. You may not liek the more advanced science courses that are required, who knows. But definitely take it one step at a time.

And have you actually shadowed a CRNA for a few days to see if that is something that you really want to do?

rn29306 · May 7, 2006

I see that you are crunching your numbers, which is good to a point, but the one thing that people who go through CRNA programs ultimately HAVE to do is - put money out of your mind. Its not a choice, it's something you must do. Money will come later and one day it will be paid off.

What is ultimatey important in life is happiness. Happiness in a profession is such a personal thing. For me, about to graduate a CRNA program in 90 something days and about 130K in debt (1/2 low int and 1/2 6.5% int), I can say that I have found my calling. I would do this job for pennies a day.

The importance of what we do, the personal connection that is made, however short, the responsibility, and the satisfaction from taking a patient through the journey of anesthesia, having a comfortable wakeup and a trouble-free PACU experience is what makes this job suited for me to a T.

I don't see myself chasing any other rainbows. For me, there is no way I could go back to the bedside. But that's me.

You have to decide what is right for you. I think you may be a little premature in your leaning of decision right now. Do what you have to, experience the potentials of working in different locations in a hospital at the staff RN position. Look around, see what you like and what you don't like. Get in the units and when you feel comfortable or need a jolt of motivation ask to shadow a CRNA. It worked for me. You may like what you see and then again, you may not like it.

But you have to be in it, absolutely without a doubt, 100% to get through school. I can personally say this is the most wonderful and at the same time most challenging thing I have done so far. Your last sentence hints at you may already be talking yourself out of the profession. There is no way to make it through school if you cannot put out of your mind the indeed considerable amount of money you will have to borrow. Trust me, money will be the last thing on your mind anyways.

MmacFN · May 7, 2006

interesting take on the monetary situation.

Well, besides the altruistic drivel that "Money shouldnt matter" We all know it absolutely does. Anyone who suggests that the pay for a CRNA isnt a major draw to the profession is in severe denial.

At the end of the day i think your asking a very important question, "is this economically responsible for me?". Everyone has to ask this same question for any "back to school" proposal or risk suffering the concequences.

Here is how i see it. First, you did a good job with the numbers, i think they are near bang on for most RNs. However, there are some things that might help mitigate your losses.

1) Why not take the extra year to do the BSN? Decrease costs and less rush

2) Average CRNA program length seems to be between 27-30 months. Lets assume 30. So your out of work for 2.5 years. @ 60K per year thats 150K. Adding up the cost of BSN and OT lost isnt realistic. To move ahead at all you have to get your BSN, it will become the standard eventually and hell, if the hospitals paying why not? Second, OT is out there, but you could always simply work 4-5/6 shifts as staff and then do 1-2 registry shifts in an ICU and you would be set.

3) Consider taking a travel assignment in your area. Get your rent paid (or take the living stipend if you have a house) and get a good wage.

4) There are many schools that will give you stipends if you agree to work for them for X years. As well there are many hospital systems that will hire you with a year for year payback of your loan plan (they essentially take over your payments while you work for them). Also, many anesthesia groups who will pay sign on bonuses which can be quite signifigant. None of that helps you now. It all comes at the end. I dont even consider it becuase of that.

5) While you mention the average CRNA in your area makes 140K (which is probably the higher end of average), here are many oppertunites to make more money to help your finiancial situation. One of my friends picks up extra call and extra shifts here and there. Last year he made 195K and didnt work near as much as i did. There are oppertunities for OT as a CRNA as well.

6) Also, there is the option to take a temp locum in an area you might not want to live. There are jobs offering low to mid 200's for a year in small areas. While this might not be your ideal place to live, whats one year?

In anycase, i think all the CRNAs on this board would agree that money shouldnt be something you need to worry about. Worry about getting in and getting the experience, GPA & qualifications nessairy.

deepz · May 7, 2006

.....Do not do it. .......

Yes.

Watching SNL right now, I'm reminded of their character Debbie Downer.

.

gasmn2b · May 7, 2006

I have to agree with MmacFN on this one. I'm about to start and already am planning for that 28 month money crunch, but this is what I really want to do. My wife and family supports my decision and we are in it for the long haul. I'm looking at a group that will help with a portion of my expenses for a committment of x years for x thousands of dollars. The government student loans, my wife's salary (teacher) and a lot of cutting back will hopefully get us through. If not there are private loans as well. It is all about what you want out of your nursing career.

London88 · May 7, 2006

I fully agree with rn29306. If my pay was to be reduced I would still do anesthesia because I love doing it. I just don't want my boss to know this! I decided that looking at my family situation I will probably be working for at least another 25 years so it had better be something that i enjoy doing. Money is definitely a factor to consider but you must also enjoy what you are doing.

Sheri257 · May 7, 2006

:typing

DreamMatrix · May 7, 2006

Lizz, I would say that with the money worry you have... that going to school to be a CRNA probably would not be in your best interest for success. It is a long hard grind that requires total committment, and worrying about finances and whether you should be doing something else will possibly doom you from suceeding in school. To do this you would need to get past your current thinking and want to do anesthesia more than your fear of monetary hardships. On the positive side...as a practicing CRNA, I can tell you that I would do this (and have) for much less money. Money cannot be the driving force for doing anesthesia, and money cannot be a hinderance to reaching that goal. Either will doom you to failure and unhappiness. I commend you for looking at the downside as well as the upside...at least your very realistic. Good luck on the decision you do make.

DM

MmacFN · May 7, 2006

Lizz

there is nothing wrong with being honest.

I guess im confused as to where your costs are comming from? I dont know any US hospital systems that wont pay for a BSN over a 3-4 year period. Even if you were to do it quicker, you should only accrue 1/2 the cost. The thing is, there isnt any advanced nursing practice that dosent require a BSN, it is even a pre req for most managerial positions. So from that perspective, you would probably have to get it anyway right?

After that, the only cost is the GRE exam and any particular pre reqs the school you want to goto might require. Even if you dont get in the first time, at least youve gotten everything done. What do you really have to lose if it takes another year to get in? You gain experience which may add to your app..

I sortof think you may lose 20K a year, but look what you gain when you do get in?

Its all a choice that only you can make. While i am in CRNA school for 2.5 years i will lose 185K in salary. Ill be selling my home and moving to an apartment. I will be giving up my career and my education buisness. My wife will be taking a travel assignment (shes an RN as well). We will be uprooted from all our friends. To me, this is totally worth it to take a step up in my career.

It's all about what you really want. If you really want something, sacrifice is always worth it.

Sheri257 · May 7, 2006

:typing

MmacFN · May 7, 2006

yup it is a big sacrafice.

just have to decide where your terminal velocity is when it comes to what your willing to give up for your dream