How to Maximize your RN Salary

“You will make a ton of money as a nurse..” they said. Let’s be real, this is not true, at least not starting as a new nurse. But, fortunately with nursing, there are many ways to increase your take home pay, even as a new grad.

 However, it’s essential to remember that while the financial opportunities are there, achieving them requires dedication and hard work. Again, HARD WORK...

Seven proven strategies for nurses to increase income

1. Overtime

This in my opinion is the best and easiest way to boost your income as a nurse. While bedside nursing can be demanding, putting in extra hours can significantly increase your paycheck. Many healthcare facilities offer overtime pay, making it a lucrative option for nurses looking to increase their earnings.

2. PRN Jobs on the Side

Another effective way for nurses to supplement their income is by taking on per diem or PRN (as-needed) positions. These positions offer flexibility, allowing you to work additional shifts when it suits your schedule. By picking up extra shifts at different facilities, you can increase your earning potential without committing to a full-time position.

3. Starting a Business on the Side

Many nurses find success in starting their own businesses on the side. Whether it’s offering private caregiving services, providing health and wellness coaching, or starting a healthcare-related business, there are numerous entrepreneurial opportunities for nurses to explore. Starting a business on the side can be a great way to supplement your income and diversify your revenue streams.

4. Changing Specialties

Changing specialties within the nursing profession can also lead to increased earning potential. Some nursing specialties, such as nurse anesthesia or nurse practitioner, offer higher salaries than others. By obtaining additional certifications or training in a specialized area, you can position yourself for higher-paying roles within the healthcare industry.

5. More Education

Investing in further education is another way for nurses to increase their earning potential. Whether it’s pursuing a bachelor’s or master’s degree, additional education can open up new career opportunities and command higher salaries. Many employers offer tuition reimbursement programs, making it easier for nurses to further their education without taking on significant financial burdens. I recommend really crunching numbers when it comes to more education. It is proven that education does not always lead to higher salary, it just depends on what type of education (NP, CRNA, etc.). 

6. Negotiating Salary

In today’s nursing landscape, it’s common for nurses to seek higher pay by transitioning between hospitals. If you’re looking to increase your salary, it’s essential to consider exploring opportunities at other healthcare facilities. However, if you’re satisfied with your current compensation, work environment, and schedule, and have established seniority, staying put may be the best option. Nevertheless, leveraging new job offers from other hospitals can be an effective way to negotiate a better salary. Don’t underestimate the power of negotiating your salary. Researching salary ranges for your position and experience level is crucial when applying for a new job or seeking a promotion. Armed with this information, you can confidently negotiate for a higher salary, maximizing your earning potential from the start.

7. Utilizing Financial Benefits:

Take advantage of any financial benefits offered by your employer. This could include retirement plans, healthcare benefits, and tuition reimbursement programs. By maximizing these benefits, you can increase your overall compensation package and improve your financial security.

In conclusion, while bedside nursing is hard work, there are numerous opportunities for nurses to increase their income. 

I personally have found that picking up extra shifts is the easiest way.

By taking advantage of these opportunities and putting in the necessary effort, you can maximize your earning potential and achieve your financial goals.