With very little to no nurse practitioner experience, it’s natural to assume you won’t earn a top salary as a new grad. The same principle holds true for most professions. But, just how much can you expect to earn once you complete your nurse practitioner program?
There are a variety of sources to look to when it comes to determining nurse practitioner salaries, some more authoritative than others. Generally, these sources can be categorized into the official U.S. Bureau of Labor Statistics information and surveys conducted by professional organizations and companies. Since the U.S. Bureau of Labor Statistics doesn’t post information regarding nurse practitioner salaries based on level of experience, we’ll turn to surveys for our assessment.
Here’s how new grad(ish) nurse practitioner salaries compare to those of experienced colleagues:
Averaging the findings of these data sources, nurse practitioners with less than five years of experience can expect incomes of just over $93,000. New grads will typically see their pay lower than this mark as they fall
at the bottom of the experience spectrum. Nurse practitioners with 6 or more years experience, on the other hand, can expect average incomes of about $100,000.
Geographic location, practice setting and the job market in your area also play a role in determining the salary you can expect to receive. Nurse practitioners working in locations with saturated job markets
are generally paid less. Those employed in areas with greater need for healthcare providers earn more.
How does your salary as a new grad NP stack up to these metrics?