Introduction
Registered Nurses (RNs) are vital members of the healthcare system, providing essential medical care to patients in a variety of settings. With the increasing demand for qualified nurses, the job outlook for RNs is very positive. But before considering a career as an RN, it’s important to understand how much does an RN make.
According to the Bureau of Labor Statistics, the median annual wage for RNs was $73,300 in 2019. The lowest 10 percent earned less than $51,640, while the highest 10 percent earned more than $111,220.
Factors That Determine an RN’s Salary
Although the average salary for RNs is relatively high, there are many factors that can affect an individual nurse’s salary. Here are some of the most common factors:
Years of Experience
Experience plays a major role in determining an RN’s salary. According to a study by the American Association of Colleges of Nursing, RNs with 5-9 years of experience earned an average of $77,000 per year, while those with 10-14 years of experience earned an average of $84,000 per year.
Level of Education
The level of education also has a significant impact on an RN’s salary. RNs with a bachelor’s degree tend to earn more than those with an associate’s degree. According to the same study by the AACN, RNs with a bachelor’s degree earned an average of $82,000 per year, while those with an associate’s degree earned an average of $72,000 per year.
Specialty Areas
RNs who specialize in particular areas, such as geriatrics or critical care, tend to earn higher salaries than those who do not specialize. For example, RNs who specialize in geriatrics earned an average of $87,000 per year, while those who specialize in critical care earned an average of $90,000 per year.
Work Setting
The work setting can also have an effect on an RN’s salary. RNs who work in hospitals tend to earn more than those who work in other settings, such as nursing homes or home health agencies. According to the Bureau of Labor Statistics, RNs who worked in hospitals earned an average of $76,000 per year, while those who worked in nursing homes earned an average of $68,000 per year.
RN Salary by State
RN salaries vary widely from state to state. According to the Bureau of Labor Statistics, the highest-paying states for RNs in 2019 were California, Hawaii, Massachusetts, Alaska, and Oregon. In California, the average annual salary for RNs was $98,400, while in Hawaii, the average was $96,700. In Massachusetts, the average was $94,200, in Alaska it was $93,700, and in Oregon it was $88,600.
Benefits and Bonuses for RNs
In addition to their salaries, many RNs receive a number of benefits and bonuses. These can include health insurance, retirement plans, paid time off, and sign-on bonuses. Health insurance typically covers medical, dental, and vision expenses, while retirement plans allow nurses to save for the future. Paid time off allows nurses to take time off when needed, and sign-on bonuses can be offered to new hires.
Education Requirements to Become an RN
In order to become an RN, individuals must complete a degree program in nursing. These programs typically include courses in anatomy, physiology, pharmacology, nutrition, and psychology. After completing a degree program, nurses must also obtain a license from the state in which they will be practicing. Licensing requirements vary from state to state, but typically include passing an exam and completing a certain number of clinical hours.
Career Outlook for RNs
The job outlook for RNs is very positive. According to the Bureau of Labor Statistics, employment of RNs is projected to increase by 12 percent from 2018 to 2028, which is much faster than the average for all occupations. This growth is due to the aging population, as well as the growing need for healthcare services in general. As the demand for RNs increases, so too will the potential for higher salaries.
Conclusion
Becoming an RN is a rewarding career choice with excellent salary potential. Factors such as years of experience, level of education, specialty areas, and work setting can all affect an RN’s salary. RN salaries also vary greatly by state, with some of the highest paying states being California, Hawaii, Massachusetts, Alaska, and Oregon. In addition to salary, RNs can also benefit from a number of benefits and bonuses, such as health insurance, retirement plans, paid time off, and sign-on bonuses. Finally, the job outlook for RNs is very positive, with employment projected to increase by 12 percent from 2018 to 2028.
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