What Is the Expected MSN Salary for Nurse Practitioners?
Patients rely on nurses and nurse leaders to provide high standards of care. Health care organizations depend on a nursing team to collaborate with physicians in the evaluation and treatment of patients and ensure patient functions such as diagnostics, laboratory work, and patient discharge are handled efficiently.
The need for nurse practitioners (NPs) opens invaluable opportunities for those who have advanced nursing credentials —not just to positively impact patient outcomes but also to develop prosperous careers. Norwich University’s online Master of Science in Nursing (MSN) degree with a Nurse Practitioner concentration can position nurses to take theircareers to the next level. Nurses gain numerous benefits in attaining an MSN, including an accelerated MSN salary.
Why Pursue an MSN Degree?
In the near future, more nursing jobs will have more openings than any other vocation, according to American Nurses Association (ANA) research. While a number of factors lead to this projection, the most significant is an aging population. As a large baby boomer demographic gets older, many of its members require more consistent, robust medical care. At the same time, many medical and nursing schools are struggling to scale activities to meet this demand.
While the projected nursing shortage is a cause for concern, it also contributes to a promising job market for those with the proper credentialed. The BLS predicts a 45% job growth for nurse anesthetists, nurse midwives, and nurse practitioners between 2019 and 2029, which far exceeds the national average. Each of these roles is most effectively attained by possessing an MSN.
How Much Does an MSN Degree Holder Make?
Those who pursue a nurse practitioner career may want to know the base pay associated with the position. A number of factors can determine the anticipated MSN salary. The annual median salary for nurse practitioners, a position that requires an MSN, was $115,800 in 2019, according to the BLS.
According to February 2021 data from the compensation website PayScale, nurse practitioner salaries vary depending on the nursing specialty.
- Family nurse practitioners (FNPs) earn a median annual salary between $90,000 and $118,000.
- Adult-gerontology acute care nurse practitioners (AGACNP) earn a median annual salary between $88,000 and $113,000.
- Psychiatric-mental health nurse practitioners (PMHNP) earn a median annual salary between $87,000 and $147,000.
Factors That Impact a Nurse Practitioner’s Salary
A nurse practitioner’s salary depends on several factors. Depending on geographic location, some markets pay more than others, with larger cities typically offering the most competitive salaries. Years of experience also pla a big role in salary asmore seasoned nursing professionals command higher salaries. The specific position also dictates salary. While someone holding an MSN may qualify to work as a nurse practitioner or nurse leader, the latter may bring a higher salary.
Preparing for the Job Market
To prepare for advanced nursing careers, students must develop the right skill sets while also obtaining the requisite educational background. Pursuing an online MSN degree with a Nurse Practitioner concentration from Norwich University enables students to earn their degrees through a dynamic, progressive curriculum that enables them to hone all the skills necessary for successful, high-level nursing careers.
An MSN program is designed to help students fine-tune the skills needed to be proficient in patient care while also serving as an invaluable resource to other members of the clinical care team. Specifically, the program focuses on the development of strong leadership, technical, analytical, and interpersonal competencies.
Upon graduation from an MSN program, students will be equipped to:
- Conduct comprehensive patient examinations.
- Diagnose and manage patient care, maximizing clinical outcomes.
- Promote healthy decisions and illness prevention.
- Rise into positions of greater nursing leadership and responsibility.
Develop Your Skills as a Nurse Practitioner
Ample opportunity is available for nurses who wish to fill patient care gaps and provide leadership in medical settings. The best way to start down this career path is by attaining an MSN. This advanced degree can equip nursing professionals with a wide range of essential skills that can help them pursue a specialized position and become health care leaders. Start the process by learning more about Norwich University’s online Master of Science in Nursing program and its Nurse Practitioner concentration.
America’s Aging Population is Leading to a Doctor Shortage Crisis, CNBC
Nursing Shortage, StatPearls
The Impact of the Advanced Practice Nursing Role on Quality of Care, Clinical Outcomes, Patient Satisfaction, and Cost in the Emergency and Critical Care Settings: A Systematic Review, Human Resources for Health
Nurse Practitioner Prescriptive Authority, Nurse License Map
Average Adult-Gerontology Nurse Practitioner (NP) Salary, PayScale
Average Adult Gerontology Acute Care Nurse Practitioner Salary, PayScale
Average Family Nurse Practitioner (NP) Salary, PayScale
Average Psychiatric Nurse Practitioner (NP) Salary, PayScale
Nurse Anesthetists, Nurse Midwives, and Nurse Practitioners, U.S. Bureau of Labor Statistics