NP wage report 2023: Compensation enhance continues

Graphic: Nurse Practitioner Salary Report 2023

Medscape’s 2023 Advanced Practice Registered Nurses (APRN) Compensation Report, which surveyed greater than 2,800 superior apply registered nurses, gives insights into nurse practitioner earnings, work surroundings, coaching, and supplemental incomes. Beneath, we’ve zeroed in on some NP wage developments for 2023.

NP salaries proceed to extend

The salaries of nurse practitioners noticed probably the most vital proportional pay enhance amongst APRNs, at 6% on common above 2022 earnings. Earnings for NPs averaged $121,000, whereas salaried staff earned barely extra on common, $127,000.

APRN nurses working in hourly positions, which embrace locum tenens NPs, are likely to earn greater than their salaried counterparts due to time beyond regulation and the flexibility to decide on how a lot they work. This yr, APRNs reported incomes a mean of $139,000 as salaried staff, whereas hourly nurses earned a mean of $154,000.

NPs working in hospital settings report highest incomes

Apply setting can impression your common compensation as an NP. Nurse practitioners who work in inpatient care in hospital settings reported the very best annual incomes at $139,000, adopted by hospital-based outpatient settings or clinics at $128,000. In the meantime, nurse practitioners working in medical places of work or pressing care clinics outdoors hospital settings earned a mean yearly revenue of $119,000.

NP revenue by apply setting

Chart - NP salary by setting in 2023

Training degree not impacts NP compensation

In accordance with the survey, in 2022, an NP’s degree of training had minimal impression on their incomes potential. Nurse practitioners with both a grasp’s diploma or a doctoral diploma are prone to earn roughly the identical annual wage. This discovering differs from the prior two stories, which indicated an roughly 4% revenue distinction between the 2 training ranges.

NP revenue by highest diploma

Chart - NP salary by education level in 2023

In accordance with Greg Straus, DNP, APRN, CEN, this equalization in pay is justified. He says, “Having a Physician of Nursing Apply or grasp’s doesn’t change a nurse practitioner’s function or capabilities of apply.”

NP salaries fluctuate by specialty

Amongst specialised nurse practitioners, these with psychiatric and psychological Health certifications commanded the very best salaries, with a mean annual revenue of $134,000. That is owed largely to the excessive demand for psychiatric psychological Health nurse practitioners for the previous a number of years and to filling in for the scarcity of suppliers with prescribing authority.

Coming in an in depth second are NPs with certifications in adult-gerontology acute care. They earn a mean wage of $132,000, in line with the survey.

NP revenue by specialty certification

Chart - NP pay by specialty

Household care practitioners are compensated the least of the specialty certifications out there to nurse practitioners.

Gender disparities persist in NP compensation

Amongst NPs surveyed, male NPs proceed to out-earn their feminine friends, who path their male counterparts by a mean wage of 12% lower than males. Feminine NPs reported a mean revenue of $125,000 in comparison with $140,000 in annual earnings for males, in line with the survey.

Charla B. Johnson, DNP, RN, ONC, director of scientific Information techniques and nursing informatics for the Louisiana Health system, commented: “Though the incomes hole between genders is closing, the tempo to parity is gradual.”

NP salaries fluctuate by area and group sort

The report additionally studied APRN salaries by area. APRNs within the Pacific Area (Alaska, California, Hawaii, Oregon, and Washington) earned probably the most, whereas APRNs within the East South Central Area (Alabama, Kentucky, Mississippi, and Tennessee) earned the least.

APRNs working towards within the Pacific Area earned a mean annual revenue of $159,000, in contrast with a mean yearly revenue of $131,000 for the East-South Central Area. APRNs within the Mountain, New England, South Atlantic, West South Central, West North Central, and Mid-Atlantic areas every earned inside $5,000 of one another (between $138,000 and $143,000). 

APRN revenue by area

The survey additional explored the impression of group sort on NP salaries and located that nurse practitioners in city areas skilled a modest wage enhance relative to suburban, exurban, and rural settings.

Nurse practitioners in city settings earn $145,000 on common — roughly $4,000, $10,000, and $3,000 greater than their suburban, exurban, and rural counterparts, respectively.

Nevertheless, reported incomes weren’t adjusted for the price of residing, and housing, transportation, and meals prices are necessary to contemplate. (For a take a look at cost-adjusted common NP wage by state, see these latest stories based mostly on the U.S. Bureau of Labor Statistics occupational employment statistics survey: Nurse Journal and Becker’s Hospital Review).

One in two NPs earns supplemental revenue

Fifty p.c of NP respondents earn supplemental revenue, together with time beyond regulation or vacation shifts, cost nurse duties, instructing lessons, or appearing as a preceptor. 13 p.c of nurse practitioners surveyed say they’ve a second job or income-producing exercise outdoors of nursing.

Of this 13%, many NPs work locum tenens, which affords them elevated flexibility, larger pay, and higher work/life stability. NPs working locum tenens can select how typically they work, the place they work, and how much apply setting they like. 

Discover out if locums is best for you: 5 the explanation why locum tenens is smart for NPs

Solely half of NPs really feel pretty compensated

When requested whether or not they really feel compensated pretty, 50% of nurse practitioners answered affirmatively — a slight climb from final yr’s survey outcomes, which was 48%. This proportion, nevertheless, has steadily declined over the last few years (sitting at 53% and 61% in 2021 and 2020, respectively). The truth is, nurse practitioners reported feeling compensated pretty at a decrease fee than all different APRNs (together with scientific nurse specialists, licensed registered nurse anesthetists, and nurse midwives).

Do NPs really feel pretty compensated?

Chart - NPs who feel fairly paid

Straus observes, “Typically, these APRNs who’re paid based mostly on their productiveness — relative worth items or bonuses — and carry out effectively will view their compensation as truthful. Alternatively, these with locked-in salaries and who aren’t given productiveness incentives might complain about their pay.”

NP salaries develop, as does dissatisfaction with pay

Medscape’s most up-to-date report on NP salaries exhibits continued development in 2022, following developments from years prior. Nurse practitioners who’re paid hourly, which incorporates locum tenens positions, earn greater than their salaried counterparts. 

Regardless of monetary beneficial properties, the challenges going through healthcare professionals proceed to take an emotional toll on nurse practitioners and may result in a sense of not being compensated pretty. For nurse practitioners desirous about rising their revenue, the survey reveals that working in sure specialties, work settings, and geographical areas can positively impression NP salaries.

Are you interested by studying extra about locum tenens for nurse practitioners? Give us a name or view immediately’s nurse practitioner job openings.

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