How Much Do Registered Nurses Make Yearly?
Registered nurses (RNs) are health care professionals who serve in a patient advocacy role. Depending on the setting, their work involves performing diagnostic exams, administering medications, monitoring patients' conditions and delivering life-saving emergency care. If you enjoy helping others, a career as an RN is for you. However, before making any career decisions, it's important to understand how much you stand to earn yearly working in this field.
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National Averages
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The median annual salary of RNs in the U.S. in 2008 was $62,450, according to the Bureau of Labor Statistics' Occupational Outlook Handbook. The highest 10 percent made more than $92,240 for the year. The Payscale website offers more recent figures. As of November 2010, the site reports that the average annual pay for registered nurses in the U.S. was from $46,621 to $66,782.
Setting Differences
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The setting in which an RN works impacts how much she earns yearly. For instance, according to the Bureau of Labor Statistics (BLS), registered nurses working in nursing care facilities earned the least in 2008 --- $57,060. Meanwhile, RNs working in employment services made the most --- $68,160. The Payscale survey showed that RNs working in long-term care facilities earned the least in 2010 ($23.78 to $31.46 an hour) and those working in acute care earned the most ($24.39 to $33.38 an hour).
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Perks
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While statistics show that you can make a decent living working as an RN, this field is one that also offers various types of nonmonetary compensation, including flexible work schedules, childcare, help with educational costs and bonuses, according to the BLS. Such perks make a job worth much more than the amount reflected in a paycheck or a year-end earnings statement.
Earning Potential
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Many employers across the country already report a shortage of qualified registered nurses, according to the BLS. As baby boomers retire, the shortage is only expected to widen. That's why the BLS expects job opportunities for RNs to be excellent through 2018. Not only will existing openings need to be filled, but more than half a million new RN positions will be created, predicts the BLS. As demand grows, pay for RNs likely will increase to ensure adequate supply. Plus, RNs can earn beyond their salaries by putting in overtime hours. Payscale reports that average hourly overtime pay for RNs is from $30.75 to $45.72 as of 2010.
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References
- Photo Credit nurse on duty image by Pix by Marti from Fotolia.com
