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What’s the Career Advantage of an MS in Nursing?

As a nurse, a wealth of new opportunities are open to you that expand your career, deliver more autonomy, and advance your salary potential. Utica College’s three master’s degrees in nursing empower you to take advanced nursing roles in leadership, education, and family practice — roles that have projected job growth rates between 24%-31% — and average salaries that surpass six figures.

Family Nurse Practitioners (FNPs)

Nurses who seek more autonomy in caring for their patients and want to establish health programs within their communities work to become an FNP.

FNPs earn an average salary of $105,9281 and expect 31% job growth through 20262.

As an FNP, you can test, diagnose, treat and create preventive healthcare plans for your patients throughout their lives. You can also work to create healthcare policies at local, state, or government levels.

When you practice at the clinical level, the need for physician oversight depends upon the state you practice within. For instance, in the state of New Nork, an FNP doesn’t need a collaborating MD after 3600 hours of practice, and they can own their own private practice.3

As of 2016, 21 states and the District of Columbia allow nurse practitioners to practice without physician oversight.4

Given the shortage of healthcare professionals at the physician and nursing levels, FNPs are relied on more often as the first provider of care for common, family health problems.

Nurse Educators

The new education requirements for entry-level clinical care and the number of new positions created and available to those with a master’s in nursing means there are more students to teach than there are nurses to teach them. The shortage of qualified nursing educators is felt at all levels of industry.

Nurse Educators earn an average salary of $77, 3605 and are urgently needed to fill the 7.9% vacancy rate due to lack of qualified candidates6.

According to 2016 reports by the AACN:

  • :: 64,067 qualified applicants were turned away from baccalaureate and graduate nursing programs in 2016 due to an insufficient number of faculty, clinical sites, classroom space, clinical preceptors, and budget constraints.7
  • :: 1,567 faculty vacancies were identified in a survey of 821 nursing schools with baccalaureate and/or graduate programs across the country.8
  • :: Data shows a national nurse faculty vacancy rate of 7.9%.8

According to the Bureau of Labor Services5:

The top paying industries for nurse educators are:

  • :: Specialty (except Psychiatric and Substance Abuse) Hospitals
    • $96,170
  • :: Psychiatric and Substance Abuse Hospitals
    • $89,750
  • :: General Medical and Surgical Hospitals
    • $89,390
  • :: Colleges, Universities, and Professional Schools
    • $79,640

The Top 3 Paying States Are:

  • :: District of Columbia: $150,560
  • :: New York: $97,080
  • :: Connecticut: $95,170

There’s an urgent demand for nursing educators to prepare the next generation for nursing excellence and to help them reach the next level of their careers.

Nurse Leaders

The value of nurses as executive leaders is realized across the healthcare industry, and rewarded with career longevity, an excellent salary, and the ability to impact healthcare at a systems level. As a senior manager or executive leader, you can effect patient outcomes and dedication to excellence in care to a larger population of patients and healthcare professionals.

Management expertise could include the planning, direction, and coordination of medical and health services for an entire facility, a specific clinical area or department, or a medical practice of physicians. Within these roles, you’re responsible for implementing necessary actions to adhere to changes in healthcare laws, technologies and regulations.

The Average Salaries of Nursing Leaders

  • :: 47% of nurse directors earn between $120,000 and $159,0009
  • :: 52% of nurse leaders with CNO/CNE titles earn $250,000 or more9
  • :: Medical Health and Service Managers earn an average salary of $98,350 and expect 20% job growth through 202610

Medical Health and Service Managers10

According to the Bureau of Labor Services, the

Industries with the Highest Levels of Employment Are:

  • :: General Medical and Surgical Hospitals: $120,540
  • :: Offices of Physicians: $105,810
  • :: Outpatient Care Centers: $103,460
  • :: Nursing Care Facilities (Skilled Nursing Facilities): $92,750
  • :: Home Health Care Services: $99,220

Top Paying States Are:

  • :: District of Columbia: $143,710
  • :: New York: $136,770
  • :: Connecticut: $132,600
  • :: Delaware: $129,070
  • :: Massachusetts: $128,730

Learn More About Your Future with a Master’s in Nursing

If you have your BS in Nursing and wish to secure your career as an FNP, Nursing Leader, or Nurse Educator, Click here for more information regarding the online MS in Nursing, or call us today at 315.732.2640 or toll-free 866.295.3106.

Sources

https://nursejournal.org/nurse-practitioner/7-future-job-trends-for-nurse-practitioners/
https://www.ajc.com/classifieds/jobs/nurse-practitioners-are-the-future-health-care/bHOrrGw1pjz4FEhkcLpaEI/
1. http://www.clinicaladvisor.com/2017-nurse-practitioner-and-physician-assistant-salary-survey/slideshow/4046/#1
2. https://www.bls.gov/ooh/healthcare/nurse-anesthetists-nurse-midwives-and-nurse-practitioners.htm
3. http://www.op.nysed.gov/prof/nurse/nursepracticefaq.htm
4. https://www.nursepractitionerschools.com/blog/21-trends-for-nurse-practitioners-to-monitor-in-2016
5. https://www.bls.gov/oes/current/oes251072.htm#ind
6. http://www.aacnnursing.org/News-Information/Fact-Sheets/Nursing-Faculty-Shortage
7. http://www.aacnnursing.org/News-Information/Fact-Sheets/Nursing-Faculty-Shortage
8. www.aacnnursing.org/news-information/research-data
9. https://www.beckershospitalreview.com/hospital-management-administration/36-statistics-on-nurse-leader-salary-and-bonuses.html

10. https://www.bls.gov/ooh/management/medical-and-health-services-managers.htm#tab-1