Master of Science in Nursing (MSN) Salary
Nursing is known as one of the most rewarding medical occupations. Medical professionals get to help others in need and feel fulfilled by doing so. Every contributor in the medical field has their own importance regardless of their position or degree. However, those who decide to level up their careers and earn a Master of Science in Nursing degree will enjoy more advanced roles and, of course, higher earning potential. A master's in nursing salary is undoubtedly higher compared to the wages of professionals holding a bachelor's of science in nursing or a lower degree.
This guide will help you understand more what a Master of Science in Nursing (MSN) degree offers, job responsibilities, and the MSN salary.
What Is an MSN Degree?
A Master of Science in Nursing (MSN) degree allows Registered Nurses (RNs) or Bachelor of Science in Nursing (BSN) graduates to advance their careers. Through intensive practice and theoretical classes, MSN programs help students specialize in different areas and grow their knowledge and expertise. In addition, if you want to pursue doctoral studies in nursing, you'll need an MSN degree.
The majority of postgraduate nursing programs take 1-2 years to complete. Some MSN programs will take up to three years to complete. Such three-year programs allow you to study part-time or use the first academic year to get a general understanding of nursing concepts. Once you have successfully completed an MSN program, you will be able to take on more advanced and managerial roles and, subsequently, more responsibilities.
MSN in Nurse Executive Leadership program graduates may be qualified for organizational and supervisory roles in hospitals, clinics, residential care units, and other healthcare facilities. Nurse educators who have completed an MSN program are usually considered eligible for clinical teaching and training roles in hospitals, nursing schools, and continuing education programs.
Top 10 Best-Paid MSN Careers
A Master of Science in Nursing degree will pave the way for many rewarding career advancements. Professionals holding an MSN degree earn some of the best salaries in the nursing field. Read on to learn which are some of these careers together with their average annual salary.
A certified registered nurse anesthetist is a medical professional holding a Master of Science in Nursing degree. A certified registered nurse anesthetist, also known as a CRNA, is in charge of preparing anesthetic for patients and of undergoing surgical, lab tests, or obstetric procedures.
Neonatal nurse practitioners are a subset of nurse practitioners; they supervise and assist with newborn baby delivery and care. Neonatal nurse practitioners are in charge of performing neonatal revitalization, starting and managing IV lines, monitoring ventilators and incubators, ordering or conducting diagnostic and laboratory tests, and other duties.
A cardiac nurse practitioner provides comprehensive care to patients with cardiac diseases. Cardiac nurse practitioners are in charge of evaluating pathophysiology for various cardiovascular disease processes, assessing patient risks for cardiovascular issues, helping with cardiac catheterization, performing and analyzing stress tests, and so on.
Orthopedic nurse practitioners are medical professionals who treat patients with muscular and skeletal illnesses or injuries. Orthopedic nurse practitioners' most common responsibilities include providing medical care for musculoskeletal problems or conditions, interacting with patients and notifying them about their situation and medical records, educating patients about their therapies, encouraging healthy lifestyle routines, assisting orthopedic surgeons during surgeries, and more.
Oncology nurse practitioners work alongside surgeons and physicians to help with cancer treatment. The duties of an oncology nurse practitioner can range from research and education to administration and cancer prevention. Other responsibilities include verifying and evaluating test results, diagnosing and prescribing, cooperating with doctors to provide primary care, maintaining medical records to avoid life-threatening drug-related problems, and managing and monitoring the medical personnel and the administration department.
A family nurse practitioner assists patients throughout their lives, forming strong bonds with them. A family nurse practitioner's essential responsibilities include diagnosing and assessing health conditions, conducting routine physical examinations, developing and implementing treatment plans for chronic and acute diseases, providing primary healthcare services focusing on prevention, etc.
Nurse-midwives who have completed a master's program typically diagnose and treat patients, referring them to specialists when necessary. A nurse-most midwife's essential responsibilities include performing gynecological examinations, educating women about childbirth options based on their specific health conditions, mentoring and caring for mothers throughout the labor and birthing process, assisting mothers in creating birth plans that portray their preferences, teaching new mothers how to feed and care for their newborns, and much more!
Clinical nurse specialists are advanced practice registered nurses who have earned a master's or doctorate in a specialized nursing field. In addition to typical everyday nursing duties that focus on assisting patients in diagnosing or curing an illness, a clinical nurse specialist's scope of work includes direct supervision of the nursing staff, differentiating and classifying sickness, injuries, or disabilities in their field of specialization, and developing nursing policies, practices, and procedures.
Nurse practitioners who specialize in the field of mental health are known as psychiatric nurse practitioners. They are primarily responsible for evaluating and diagnosing patients with mental illnesses, abnormalities, and other issues. Other responsibilities include overseeing patients' psychopharmacological treatment, supplying various types of psychotherapy, and caring for and counseling patients with chronic psychiatric illnesses.
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Top 10 Best-Paying States for MSN Nurses
Another determining factor for your salary after you have obtained a master's degree in nursing is the location and the state you choose to work in. Various states offer different salaries even though all professionals hold the same qualifications. Below, we have listed the top ten highest-paying states for MSN nurses.
California - $135,920
Minnesota - $128,700
New York - $118,810
North Carolina - $106,690
Florida - $105,230
Pennsylvania - $103,550
Texas - $101,870
Georgia - $101,470
Ohio - $101,490
Illinos - $101,180
MSN Nurse Career Outlook
The overall employment rate for professionals holding a Master of Science in Nursing degree (nurse anesthetists, nurse practitioners, nurse midwives) is projected to increase by 45% from 2020 to 2030, much faster than the average for all occupations.
On average, over the next decade, there will be 29,400 openings for nurse anesthetists, nurse midwives, and nurse practitioners. Many of those openings are expected to increase as a result of the need to replace workers who either change their occupations or leave the workforce for other reasons, such as retirement.
How Can an MSN Nurse Increase Their Earnings?
Despite the fact that MSN nurses earn a very satisfying salary, there is always room for improvement and advancement. There are many ways MSN nurses can increase their earnings, starting with seeking specialties.
Nurses who work in high-stress or specialty areas like the intensive care unit (ICU), cardiac step-down, post-anesthesia care unit, neonatal ICU, or trauma frequently receive critical care or hazard pay. Experience and certification in a specialty field can help you get a job and advance in your career. Adding one or even more specialty accreditations can help you advance your career or earn more money. Some employers provide incentivized professional development packages to assist employees in achieving their objectives.
The second factor that may help you increase your earnings as an MSN nurse is being flexible. To receive shift differential pay, consider switching to night or weekend shifts. Find out how businesses deal with nursing shortages. Some companies pay overtime for emergency relief. Others rely on a per diem or PRN (pro re nata, which translates to "as needed") pool, staffing agency, or even travel nurses.
The final factor you should consider in order to earn more in the medical field is pursuing higher education. Professional development requires education. A Master of Science in Nursing salary is, of course, higher compared to any other lower degree. Although the pay gap between an RN with an MSN and an RN with a Bachelor of Science in Nursing may be small, the actual difference is in the responsibilities and careers that are only available to professionals with MSNs. An MSN can also be used as a stepping stone toward a doctorate degree. If you're looking for further advancement and increase in profit, earning a Doctor of Nursing Practice (DPN) is a great idea.
Conclusion
A master's degree in nursing is definitely worth it for professionals who already have experience in the medical field and want to step further in their careers. An MSN degree allows medical professionals to specialize further, get a better understanding of the job, and perfect their set of skills. The extra years spent for an MSN degree will definitely be worth it since MSN nurses benefit from higher salaries and enjoy more advanced positions and added responsibilities.