How Much Does a Nurse Practitioner Make in a Year? Become a family nurse practitioner (FNP) to increase your income potential as a nurse. According to the Bureau of Labor Statistics (BLS), nurse practitioners earned an average annual pay of $118,040 ($56.75 per hour) in the United States.
If you’re considering an RN vs. Nurse Practitioner (NP) career path and want to further your nursing career and broaden your area of practice, becoming an NP may be a suitable fit.
Nurse practitioners have a promising career outlook as well. The BLS anticipates a 52 per cent increase in employment for nurse practitioners from 2020 to 2030, significantly above the national average for all occupations.
With a statewide nursing shortage keeping nurses in high demand, many experienced RNs consider becoming a nurse practitioner (NP) as an opportunity to climb up the ladder and into advanced practice.
High-level nursing can be the next career step for ambitious nurses wishing to make more money with a Master of Science in Nursing (MSN) or a Doctor of Nursing Practice (DNP) degree with an NP concentration.
Nurse practitioners typically make more than $100,000 per year, thanks to a wide range of attractive specialist specialties.
How Much Does a Nurse Practitioner Make?
A nurse practitioner’s compensation is determined by several factors, including:
Type of Employer:
NPs can operate in a number of settings, such as hospitals, private practices, government organizations, and more.
Private practices often provide the most leeway for compensation negotiation, but hospitals and government bodies may have planned salary schedules that are less flexible.
Location:
Because elements like cost of living must be considered, the city and state can make a significant difference in NP income.
Larger cities and more populated states tend to pay greater wages, but rural locations may pay less than the national average.
A nurse practitioner now earns an annual income of $115,800. According to the most recent available BLS statistics from May 2019, the average yearly pay of an NP in New York is $122,550, while NPs in Alabama earn $99,570.
Experience & Degree Level:
NPs with extensive experience and relevant qualifications often earn more than those who are just starting out, and degree level may also play a role.
While a graduate-level degree is required for NPs, individuals with a doctoral degree (DNP) may be eligible for the most prestigious and well-paying NP positions. DNP wages may be seen here.
What is the Highest-Paying Nursing Specialty?
This depends on all of the parameters described above. Many organizations have unionized NPs, thus remuneration is discussed on a regular basis.
Other organizations compensate based on experience and practice. Private offices typically pay less than hospital systems and major organizations.
Because certain specializations have a larger need for NPs, more remuneration may be provided.
Because baby boomers and the older population dominate healthcare in the United States, Adult-Gerontology, Family, and Women’s Health NPs have more work prospects and may provide greater pay.
Nurse Practitioner Hourly Rate
Many aspiring nurse practitioners want to know how much they will make per hour based on the parameters outlined above.
As of May 2019 (latest available data), the national mean hourly salary for nurse practitioners was $53.77, according to the Bureau of Labour Statistics (BLS).
The hourly median salary for most NPs is between $39.14 and $73.16.
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How Much Does a Nurse Practitioner Make in a Year?
The top-paying industries for nurse practitioners are as follows (mean):
- Community Food and Housing, and Emergency and Other Relief Services, with a mean hourly wage of $66.90
- Religious Organisations, with a mean hourly wage of $62.00
- Residential Intellectual and Developmental Disability, Mental Health, and Substance Abuse Facilities, with a mean hourly wage of $59.57
- Grant-making and Giving Services, with a mean hourly wage of $59.50
- Outpatient Care Centres with a mean hourly wage of $57.65
- Nurse Practitioner Specialties and Salaries
Depending on their abilities and interests, nurse practitioners can pursue a wide range of specialties. As part of their degree, most MSN and DNP programs enable NPs to select a concentration.
We show some typical NP specializations and pay information below:
1. Salary of an Acute Care Nurse Practitioner
Acute Care Nurse Practitioners often work in hospitals and other urgent care settings, making rounds on patients and aiding with treatments.
Acute Care Nurse Practitioner salaries range from $86,000 to $125,000 per year, but the typical national pay, according to PayScale, is $101,342.
2. Salary of an Adult-Gerontology Nurse Practitioner
Adult-Gerontology Nurse Practitioners care for patients in their adolescence and beyond. They may provide physicals and exams, as well as educate patients and families on proper health practices.
This sort of NP may work in either acute or primary care settings. The annual salary for Adult-Gerontology NPs varies from $73,000 to $110,000. The national median yearly wage is $90,102.
3. Salary of an Emergency Nurse Practitioner
Emergency NPs operate in hospitals and urgent care centers, ordering diagnostic tests and providing care to patients who cannot wait to see their primary care physician.
Emergency nurse practitioner salaries range from $77,000 to $126,000 per year, with the average income being $96,841.
4. Salary of a Family Nurse Practitioner
The Family Nurse Practitioner, or FNP, provides care to patients from infancy through old age.
They undertake many of the same activities as doctors, such as routine physicals and exams, and they emphasize preventative health practices.
FNP salaries range from $79,000 to $117,000, with the average compensation being $94,232.
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5. Salary of a Paediatric Nurse Practitioner
A Paediatric NP treats and cares for children in a hospital or medical facility’s paediatrics wing, aiding physicians and ordering tests, providing medicine or therapy, and counseling families.
Paediatric nurse practitioner salaries range from $73,000 to $112,000 per year, with an average yearly pay of $89,764.
6. Salary of a Women’s Health Nurse Practitioner
A Women’s Health Nurse Practitioner cares for female patients who have women’s health or reproductive difficulties.
They may scan for breast or reproductive malignancies, educate and care for pregnant women, and perform other duties.
Salary ranges for Women’s Health NPs range from $72,000 to $113,000 per year. The yearly compensation for this position is $91,270.
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