Nursing Master’s Degree Salary
A Master of Science in Nursing (MSN) degree is an advanced degree that nurses can earn to qualify for more specialized and higher-paying jobs. MSN nurses can work in a variety of settings, including hospitals, clinics, schools, and businesses. They can also work as nurse practitioners, certified nurse midwives, and clinical nurse specialists.
The salary for MSN nurses varies depending on their specialty, experience, and location. However, MSN nurses typically earn more than nurses with only a bachelor’s degree. In fact, the median annual salary for MSN nurses is $112,808, according to the U.S. Bureau of Labor Statistics (BLS).
Highest-Paying MSN Nursing Specialties
Some of the highest-paying MSN nursing specialties include:
- Nurse practitioner (NP): NPs are advanced practice registered nurses who can diagnose and treat patients, prescribe medications, and order tests. The median annual salary for NPs is $121,610, according to the BLS.
- Certified nurse midwife (CNM): CNMs are advanced practice registered nurses who specialize in women’s health care. They can provide prenatal care, deliver babies, and provide postpartum care. The median annual salary for CNMs is $112,830, according to the BLS.
- Clinical nurse specialist (CNS): CNSs are advanced practice registered nurses who specialize in a particular area of nursing, such as oncology, critical care, or pediatrics. They work with patients, families, and other healthcare professionals to provide specialized care and education. The median annual salary for CNSs is $109,627, according to the BLS.
- Nurse anesthetist (CRNA): CRNAs are advanced practice registered nurses who specialize in administering anesthesia. They work with surgeons and other healthcare professionals to provide safe and effective anesthesia care to patients. The median annual salary for CRNAs is $203,090, according to the BLS.
Factors That Affect MSN Nurse Salary
In addition to specialty, experience, and location, there are a number of other factors that can affect an MSN nurse’s salary, such as:
- Education: MSN nurses with additional education, such as a PhD or post-master’s certificate, may earn more than MSN nurses with only a master’s degree.
- Certification: MSN nurses who are certified in their specialty may also earn more than MSN nurses who are not certified.
- Employer size: Large employers, such as hospitals and teaching institutions, tend to pay MSN nurses more than small employers.
- Work setting: MSN nurses who work in high-demand settings, such as urban areas or rural areas with limited healthcare access, may earn more than MSN nurses who work in less-demanding settings.
How to Increase Your MSN Nurse Salary
There are a number of things that MSN nurses can do to increase their salary, such as:
- Gain experience: MSN nurses with more experience typically earn more than MSN nurses with less experience.
- Get certified: MSN nurses who are certified in their specialty may earn more than MSN nurses who are not certified.
- Continue your education: MSN nurses with additional education, such as a PhD or post-master’s certificate, may earn more than MSN nurses with only a master’s degree.
- Negotiate your salary: MSN nurses should be prepared to negotiate their salary when they are offered a new job. They should research salaries for their specialty and experience level in their area, and be prepared to ask for a salary that is fair and competitive.
How MSN Nurses’ Salaries Compare to Other Healthcare Professionals
MSN nurses typically earn more than nurses with only a bachelor’s degree, but how do their salaries compare to other healthcare professionals?
According to the BLS, the median annual salary for the following healthcare professionals is:
- Physicians and surgeons: $208,000
- Dentists: $171,290
- Pharmacists: $128,710
- Occupational therapists: $87,180
- Physical therapists: $86,810
- Registered nurses: $78,430
As you can see, MSN nurses typically earn more than registered nurses, but less than other healthcare professionals with advanced degrees, such as physicians, surgeons, dentists, and pharmacists.
Additional Tips for Increasing Your MSN Nurse Salary
- Be an active member of your professional organization. This will give you access to networking opportunities, educational resources, and salary information.
- Take on leadership roles in your workplace. This will show your employer that you are ambitious and motivated.
- Publish your research or write articles for professional journals. This will help you to establish yourself as an expert in your field.
- Be willing to relocate. MSN nurses who are willing to relocate to high-demand areas may earn more than MSN nurses who are not willing to relocate.
Conclusion
A Master of Science in Nursing (MSN) degree can lead to a rewarding career with a high salary. MSN nurses can work in a variety of settings and specialties, and they can earn a significant income. If you are interested in a career in nursing, consider pursuing an MSN degree.
