We all know the significance of having nurses in the health sector. That’s why we’ve also seen a rise in students taking up courses related to nursing. You may be one of those aspiring to become a nurse in the future. Or perhaps, you’re already one. That brings us to our question, how much do nurses make?

Today, we’ll get into the specifics of working as a nurse in this day and age. Keep on reading as we dive into these details!

What Is the Average Salary of Nurses?

Nurses have played a vital role in the medical field throughout the years. They provide assistance and support to individuals in need of care. In particular, they monitor our health and well-being, perform diagnostic tests, and administer medications as needed.

With the advent of new and alarming diseases, we can expect a heightened demand for them in the next few years. That means there’s also a possible rise in their average salaries a year. So how much do nurses make now?

The simple answer is that registered nurses earned an average of $80,010 this 2021. That’s around a 5.85% increase from 2020, where they only received $75,330. Their average salary also represents an average hourly wage of $38.47.

Factors That Affect How Much Nurses Make

However, your salary as a registered nurse isn’t standard. You can earn more than the hourly wage while others may earn less. That’s because we consider many factors when calculating your income. So what are these key elements that impact how much you can make?

Educational background

One of the most significant factors affecting how much a registered nurse can make is the degree or certification you hold. Nurses can take up an Associate’s Degree (ADN) or a Bachelor of Science in Nursing (BSN). You can even pursue graduate studies and obtain a Master’s Degree (MSN), a Doctorate (DNP), or a Doctor of Philosophy (Ph.D.).

Nurses who earned a Bachelor of Science degree tend to receive more than those with an Associate’s Degree. According to statistics, they make at least $3.89 more in their hourly wage. But of course, pursuing further studies can increase your salary. That’s why having a Master’s Degree can let you earn up to $55.80 an hour.

Meanwhile, nurses with a Doctorate or a Doctor of Philosophy typically earn the highest hourly wage. So if you hold any of these degrees, you won’t make anything less than their base salary of $105,000 a year.

Qualifications

You can have different levels of qualification as a nurse. You can assume entry-level jobs as a Certified Nurse Assistant (CNA) and earn as low as $30,830 per year. However, you can earn up to $183,580 a year for more advanced jobs like a Certified Registered Nurse Anesthetist (CRNA).

There are also average-paying roles, including Licensed Practical or Vocational Nurses who earn no less than $50,090 a year. Nursing instructors, on the other hand, make more than vocational nurses. So if you’re teaching this field, your average yearly salary can reach up to $84,060.

Similarly, nurses with higher qualifications can have above-average salaries. If you’re a Certified Nurse-Midwife (CNM), you can make as much as $111,130 a year, while a Nurse Practitioner can earn around $107,030.

Where you work

You can work in diverse areas and fields. For instance, you can end up in medical and surgical hospitals. However, that’s not the only place where you can work. We can also find a wide variety of nurses in government institutions, including detention facilities, the Air Force, and the CIA. We can also catch them in schools and residential care services.

We’re talking about where you’d usually end up working because this can have a massive impact on your yearly average salaries. Generally, nurses who work for the government earn above-average incomes. You’ll typically make as much as $158,256 per year. Meanwhile, nurses who work in medical and surgical hospitals receive an average yearly salary of $89,300.

On the other hand, nurses who work in the offices of doctors, schools, and residential care services earn below-average salaries. You’ll usually make around $69,180 per year in these facilities.

State where you work

The location of the facilities where you work can also affect your income. Generally, rural states have lesser budgets and income than urban hospitals and facilities. That’s why their hourly wages are usually less while states where health insurance plans are covered pay higher salaries to their nurses.

On average, nurses who work in bustling states like California and Vermont can earn around $42.93 to $44.66 per hour. This range is significantly higher than what nurses make in Maryland and South Dakota. Unfortunately, your hourly wage will vary from $10.29 to $11.75 per hour if you work in these states.

Meanwhile, other states offer relatively attractive salaries. For instance, South Carolina nurses can earn an average of $25.84 per hour, while you can receive an hourly wage of $28.35 in Texas.

Your experience

Similar to your educational attainment, your experience in the field can influence how much you can make in a year. Registered nurses at the beginning of their careers earn below-average salaries when compared to more experienced practitioners. Usually, your hourly wage will be around $29.04.

However, the more experience you gain in your field, the higher chance that your salary will increase. For instance, nurses with more than 20 years of experience can earn about $41.14 per hour. Also, you can apply for higher positions that pay you more.

Your specialization

Some of the higher-paying specializations for nurses require substantial amounts of skill, experience, and knowledge. But their pay is usually quite attractive to many practitioners in the industry today. So our tip is to gain as much experience as you can and work your way up the ladder!

If you’re planning on working in cardiac electrophysiology labs, you can earn an average of $1,875 a week. On the other hand, registered nurses working in endoscopy labs can make as much as $1,701 per week, while those working in post-anesthesia care units can make around $1,709 in a week.

Gender!

Although nursing is a female-dominated profession, male nurses generally earn more than females. According to a study done by the University of California San Francisco, male nurses can make about $5,000 more in a year.

What Benefits Do Registered Nurses Receive?

Registered nurses enjoy other benefits such as overtime and holiday pay, shift differentials, and bonuses. In most hospitals, you’ll earn up to $100 an hour for your overtime or holiday pay. Meanwhile, working during graveyard shifts, weekend shifts, and mid-shifts can receive an additional $2 to $8 per hour. Finally, other employers offer incentives for your performance and specialization.

And there you have it! You can earn an average of $80,010 a year based on these seven factors. But you can also receive incentives on top of your salary.