As a nursing student, you may ask if the benefits of obtaining a Master of Science in Nursing (MSN) are worth it. Nursing leadership positions such as patient care director, lead charge nurse, nursing supervisor, and chief nursing officer may all be obtained with a Bachelor of Science in Nursing degree.
Nurse practitioners and other types of advanced practice registered nurses may only be obtained after completing the MSN program (APRN). One of the numerous advantages of APRN roles is a significant boost in compensation and career options, as well as greater patient care autonomy.
Higher Degree, Higher Income
An MSN degree might possibly increase your salary by tens of thousands of dollars. According to the Bureau of Labor Statistics (BLS), registered nurses in the United States earn an average income of $70,000.
There are 5% of registered nurses (RNs) employed by the government, and their median salary is $75,900. Hospitals, which employ 61% of all registered nurses and offer a median income of $72,070, are another high-paying business.
Your income potential rises dramatically when you acquire your MSN and become an APRN. The BLS stated that APRNs as a group earn a median salary of $110,930. The best paid APRNs are nurse anesthetists, who deliver pain-relieving or anesthetic medicines for medical procedures.
Their average yearly salary is $165,120, which places them in the middle of the pack. With an average salary of $103,880, a nurse practitioner is the second-highest-paid profession. Delivering newborns, nurse midwives get an average yearly pay of $100,590.
There are several factors at play when it comes to income for APRNs, such as the type of sector in which they work and their level of education. With a median income of $117,850, hospitals employ the most APRNs, while outpatient care clinics employ the most APRNs.
The median compensation for APRNs working in the highest-paying businesses is over six figures in every single one of them.
Jobs are expanding at double the rate
The healthcare industry is expanding. Over the next decade, chances for health diagnosing and treating practitioners are projected to increase by 16%, compared to a projected 7% growth for all occupations.
In accordance with this trend, the employment rate for registered nurses is significantly higher than the average 15 percent growth rate.
The employment prognosis is considerably more promising for APRNs. The BLS forecasts that opportunities for APRNs will rise by 31% within the same time frame. With an expected 36 percent growth rate, or 56,100 new positions, nurse practitioners will experience the most increase. The number of nurse midwives is projected to increase by 21 percent, from 6,500 to 7,800. The employment of nurse anesthetists is expected to increase by an above-average 16 percent, leading to the addition of 6,800 new positions.
Approximately 46% of APRNs are employed by physician offices, 28% by hospitals, 8% by outpatient care facilities, 4% by educational services, and 3% by the offices of other health practitioners.
For the majority of APRNs, the benefits of completing a master’s degree in nursing are not just monetary or career-related. Becoming a nurse practitioner, nurse anesthetist, or nurse midwife enables the most devoted nurses to care for patients in novel ways and to assume duties they were previously unable to.
If you’ve ever wished you could do more to aid a patient, the enhanced autonomy that comes with the MSN degree is a crucial advantage to consider.
Depending on the rules of your state, obtaining an MSN and passing a national certification exam to become an APRN may permit you to perform physical examinations and diagnostic testing on your own.
You may have the power to issue prescriptions and order treatments on your own, although doctors are often responsible for these duties. In actuality, some nurse practitioners serve as primary care physicians. In almost 20 states, nurse practitioners have full practice authority, meaning they do not require physician supervision to practice.