I'm a brand new FNP. Just passed boards, interviewing this week for multiple positions. Background is paramedic, ER nursing, flight nurse, and now travel RN in the ER. I am really struggling with the financial aspect of this change.
I am currently making about $3400/week working only 3 day shifts/week. This is a travel contract but I make the drive about 1hr 20 mins each day I work so I can get the travel pay (50 miles from your home or farther to qualify).
The money is nice, and the 4 days off a week is really nice, but I pretty much dread going to work. I am very burned out as far as bedside nursing goes. I'm tired of the usually short staffed days, 12 hours of stress and being behind on tasks, the monotony of the tasks each day (get an IV, label things, send it, get EKG, help patient to bathroom, beg for urine sample on everyone, hang antibiotics, rinse and repeat for 12 hours). I feel like I shouldn't complain because I am being paid nicely and I only work 3 days a week, but I don't enjoy the days I do work.
The NP job I interviewed for yesterday asked my pay expectations. I said $65/hr at least because that is what my base travel RN pay is (without my travel stipends, which I know I can't expect from a local NP job). They said $65 is the top pay they offer across the board for the position and would likely not be able to do that for a new grad. I have seen some positions offering around $45-55/hr on indeed for FNPs (Texas). I expected a pay cut to some degree because I am starting a new career essentially, but man I didn't think it would be this steep. A place today offered me a salaried job at 105,000 per year which they say is higher than they normally offer new grads because of my resume. I honestly don't think I could afford my current life with that (15 year mortgage based on previous RN earnings of 130K/year).
My question to all of you is, is it worth it? Am I looking at this the wrong way? Did anyone else in a similar scenario find a huge relief when they started an outpatient NP position and got away from the bedside and did not regret taking a pay cut? I am honestly stressed right now thinking about it. I spent a year working extremely hard (stayed full time at my flight RN position working 48 hours a week and did full time clinical hours) thinking there would be a pay off in the end. But all of the work and school dollars spent.... for a significant pay cut.
I will say I know NPS making 140K-150K salary in Ny.
Yeah, not an amazing salary considering inflation/COL. Travel nurses routinely make more than that with 1/0th of the responsibility and depending on the job MDs make at least double doing the same work.
Starting CRNAs in my area make 200k, NPs 100-120k Different jobs of course but just to show you that NPs get the worst APP end of the stick.
JBMmom said:
There are no hospitals in my area with NP residency programs. I'm at a university medical school/teaching hospital and they have an extensive orientation program that covers the first six months. I wish a residency program was available, but I'm confident they have an adequate onboarding process.
Yeah orientation isn't the same, just isn't. I say this as someone who had both in a similar situation as you and went back for a residency. I mean that's why you would move, MDs move (with families) all the time for residency/fellowship.
The grass is always greener . . . I used to work in high-tech. I worked my way up to become a Director/VP equivalent at very large, leading firms such as Oracle, Accenture, PWC, as well as working for a number of start-ups. I literally lived in Silicon Valley. Let me tell you, the lifestyle SUCKS. I worked incredibly long hours, as well as traveling a great deal. (I mean literal travel - flying all over the country, even internationally).
1. I ALWAYS worked late, average 10 hours per day and I also worked on weekends EVERY weekend.
2. When a deadline approached, those hours went way up - 60 to 70 hours weeks typical.
3. I was almost always "on," 24/7. That means I was expected to respond to emails, texts, phone calls at all hours of the day/night all the time.
4. Given all the hours worked, those big paychecks work out to a low hourly rate.
As a provider, you are generally treated with respect and are not viewed as an easily replaceable widget.
Yes, I make a little less money, but my quality of life is incredibly higher now. I have absolutely no regrets about switching to healthcare.
More importantly, at least to me, is that I am truly helping people and making a meaningful difference in helping them to lead a better life.
I totally agree.
Well, my boyfriend is on a perpetual startup rollercoaster in Silicon Valley. He's convinced that one day his ship will come in when the company goes public, and he can retire to a life of luxury. The catch? He works tirelessly, pulling in $200-300K a year, but it's like he's got a 24/7 hotline to his iPad. He snoozes for a measly 4 hours a night, and sometimes he's so sleep-deprived he's practically sleepwalking into meetings.
He's even taken calls at 30,000 feet! We've had more battles than a Game of Thrones episode about this. I'm starting to think that the only IPO on the horizon is "I Pay for Our Occasional" time together. His boss rings him more than my doorbell on Halloween, and there's a Zoom meeting schedule to rival the TV guide.
Meanwhile, he's racking up more frequent flyer miles than Santa Claus on Christmas Eve. I've told him, "You know, your hourly rate is starting to look like my spare change." I may not earn as much as he does, but my quality of life is higher than a giraffe on stilts. We don't spend extravagantly, and I'm convinced that what I make is enough to live our best lives.
FNP here towards the end of my career been in practice for 25 years. I had a similar resume before going back to school although mine was in the 1990s. There is no comparison of the job satisfaction of being the decision-maker. The impact you have, the relationships with the patients and families. WORTH IT
Honestly, I don’t recommend going to NP school. It is more work, more responsibility often times for less money. As a bedside nurse you work you shift and go home, as an NP the work follows you. My opinion, stick with travel nursing
Honestly, I don’t recommend going to NP school. It is more work, more responsibility often times for less money. As a bedside nurse you work you shift and go home, as an NP the work follows you. My opinion, stick with travel nursing
Unfortunately there wasn't anyone to tell me that a few years ago before I started this journey. In early 2019 when I started all the NPs I talked to said it was worth it. This was pre-covid, nursing pay had not skyrocketed, I don't think the market was quiet as diluted. Too late now though, I've already done it.
Specializes in Former NP now Internal medicine PGY-3.
If you don't think that not getting a job right out of school will hurt you, you could always travel for another year or two then get a job. A lot of outpatient specialties are still hit from all the covid stuff since people aren't getting out as much.
I am in the exact same boat as you. I make REALLY good money working in the bay area as a travel nurse, I just graduated from NP school and I'm now looking for an NP job. The only difference for me is that I moved to California to be a travel nurse and I'm bored and lonely because I don't know anyone here. Something that I'm not sure you've thought about is the fact that legally, you can't continue to be a travel nurse in the same region for longer than a year. So technically, after one year of working in that city/region, you'd have to move. You could try to get away with not doing that, but if you ever got audited you'd likely get in trouble with the IRS. So, basically what I'm saying is that, the travel RN thing is not sustainable unless you want to keep moving around every year. I need to live in a place where I can put down some roots. I don't enjoy worrying about a new job/finding a new place to live every 3 months (or even every year).
For me, I'd prefer to take the pay cut (and receive better benefits as a previous post noted), and have better quality of life, live in one one location. I also feel like I will enjoy the work I do as an FNP more than what I do as an RN, but that's just me. I'm excited for a new career path. Just some things to think about!! Good luck!
Hello. Interesting post. But can you please elaborate on your statement that "legally, you can't continue to be a travel nurse in the same region for longer than a year." To what law are you referring? Also, why would the IRS care where you work, as long as you pay your taxes? Thanks.
Specializes in Psychiatric and Mental Health NP (PMHNP).
11 hours ago, Looking Forward said:
But can you please elaborate on your statement that "legally, you can't continue to be a travel nurse in the same region for longer than a year." To what law are you referring? Also, why would the IRS care where you work, as long as you pay your taxes? Thanks.
This is for state income tax. If you work longer than 1 year in a state, you have to pay that state's taxes. I'm not sure, but you may also have to pay taxes in the state of your legal residence. Check with your accountant.
I agree that state income taxation rules are complicated and that it is wise to get advice from a tax accountant or tax lawyer. I would be particularly leery about relying on a one year rule, as I am not aware of any state that has such a rule. In fact, depending on the state and the specific facts, state income tax liability could attach much quicker than one year.
Forty one states and the District of Columbia tax income of residents. One universal trigger of state income tax liability in these states is if the individual is "domiciled" in the state, meaning that the person maintains a residence within the state with an intent to remain indefinitely or, if the individual is absent from that residence, intends to return to that residence in the future. I am not aware of any state where domicile depends on the passage of any particular time period; rather, in most and maybe all states, someone who establishes a residence in a new state with the intent to remain in that state indefinitely is immediately domiciled in the new state.
Some states also find an individual who is not domiciled in the state nevertheless to be a “statutory resident” of the state (and therefore liable for state income taxes) if they spend a certain amount of time in the state during a particular tax year. 183 days is a common trigger but some states have different thresholds (e.g., 6 months, 200 days, 9 months.) Some states have other rules for when an individual becomes liable for state income taxes.
Although there are exceptions, a worker normally must pay non-resident income taxes for the state in which they work (assuming that the state imposes such taxes) and resident income taxes for the state in which they live. Fortunately, many states treat taxes paid to one state as a "credit" for taxes owed to the other state. But it is important to know the law and claim the credit. You don't want to be in the situation where you pay one state and then a different state subsequently makes a claim for its taxes.
I am interchangeable with an MD with little oversight
Scary. This is why I am avoiding seeing NPs. I was seeking NP care at least 15 years ago for all my healthcare needs....but my recent experiences (from several NPs) have had me change my choice of provider. MD for ME
Scary. This is why I am avoiding seeing NPs. I was seeking NP care at least 15 years ago for all my healthcare needs....but my recent experiences (from several NPs) have had me change my choice of provider. MD for ME
Interesting that you are choosing to peruse and contribute to an NP forum, then.
No, I read the above on the "new comment" section (unread is the title at the top). Don't worry, I don't specifically seek out any peculiar NP comments but this braggadocios claim reflected to me someone who is full of themselves..
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Yeah, not an amazing salary considering inflation/COL. Travel nurses routinely make more than that with 1/0th of the responsibility and depending on the job MDs make at least double doing the same work.
Starting CRNAs in my area make 200k, NPs 100-120k Different jobs of course but just to show you that NPs get the worst APP end of the stick.
Yeah orientation isn't the same, just isn't. I say this as someone who had both in a similar situation as you and went back for a residency. I mean that's why you would move, MDs move (with families) all the time for residency/fellowship.