For more salary survey statistics, go to page 2 to view charts and tables
As a nurse, you're probably not in it "for the money," right? But that doesn't mean you're not curious as to how much your brethren across the U.S., and especially in your own region, are making.
ADVANCE is here to settle your questions. As is typical, our annual salary survey has been widely anticipated. We've collected data from you and your colleagues, done the number-crunching and spoken with recruiters in the region to best get a handle on the state of nursing salaries in 2010.
Economy Overview
You're likely tired of hearing about it at this point, but the economy is still in need of repair. RNs and LPNs alike are delaying retirement and new graduates are essentially thumbing for jobs, yet a nursing shortage somehow manages to exist. Adding grease to the fire is a developing situation, recruiters say, where fewer job opportunities are creating a more competitive market, particularly for those just out of school.
Collectively, things remain pretty scary for any American trying to find work at this time.
But if the current trend that's happening in southeastern North Carolina is any indication of things picking up, nurses living and working in ADVANCE's Southeastern States region (Alabama, Georgia, North/South Carolina, Tennessee) may have room for optimism.
"The economy has not affected the job market in our area," said Phyllis Malone, recruitment manager, human resources, Cape Fear Valley Health System, Fayetteville, NC. "We have numerous nursing opportunities for experienced nurses as well as new graduates."
Similarly, at Gaston Memorial Hospital, Gastonia, NC, nurse recruiter Amy Stone told ADVANCE she's seen an increase in openings, especially among RNs seeking specialty positions such as in critical care and the ED.
"We are slowly picking up, which may be a sign of market improvement," Stone said. "We have also seen an increase in out-of-town applicants who are looking for work in our area. Those from [as far away as] Florida and the New York area have been willing to come to interview with us at their own cost."
In terms of new grads, Malone said her facility has seen a spike in the number of hires among novice nurses during the past year. "We just seem to be able to accommodate more new graduates than other area hospitals," she told ADVANCE.
Rate of Pay/Salary
Throughout the Southeastern States, the median hourly rate and annual salary for nurses are $29.98 and $61,260, respectively.
In terms of work setting, nurses in academia report earning $36 per hour and $77,000 each year, both tops in the region. Clinically, the inpatient setting brings in the most pay at $60,341 while the highest hourly rate ($29.70) is seen in outpatient centers. But when it comes to title, advanced practice nurses break the bank with a $74,611 salary. However, nurse administrators reportedly see the greatest amount per hour at $45.06.
Also, nurses in the region report higher paydays have come with years of experience. Survey results show nurses with more than 25 years in the profession earn the highest hourly total at $33.40. While the numbers may be a tad skewed (the highest salary range of $70,231 is noted in the 16-25 year range while those working 6-15 years report making $58,762), the point is clear: The more experience you have, the more money you make.
As far as specialties are concerned, ambulatory care nurses command the most at $30.22 per hour followed by ED, case management, critical care, cardiac care and education.
Rate vs. Beds/Title vs. Experience
According to the survey results, nurses who work in bigger facilities are going to make more money, just as those who have more years of experience are likely to work as managers or administrators.
Nurses who care for patients within organizations that feature more than 500 beds turn in an average of $40.76 per hour, while those working in facilities with 50 or fewer beds see the lowest hourly rate at $35.
The highest percentage of nurse managers (37 percent) have as many as 15 years of experience, while 35 percent of charge nurses who took part in our survey reported at least 16 years of experience. Likewise, only four percent of charge nurses report having fewer than 6 years in the field while only five percent of nurse managers claim to have no more than 5 years working as a nurse.
Degree also clearly defines job role, as 64 percent of diploma nurses and 71 percent of those holding an associate's degree work as staff nurses, while 47 percent of master's-prepared nurses and 50 percent of those with a higher degree are working as advanced practice nurses.
As far as overall experience, the majority of nurses (52 percent) have been working at least 16 years. Younger nurses (and those who may have switched careers) continue to make up the lowest percentage of the working population, according to the survey, at 23 percent. Likewise, women continue to dominate the field, as only four percent of this year's respondents are male.
Changes in Salary, Job Status
First, the encouraging news: 78 percent of ADVANCE respondents report seeing an increase in salary over the course of the past year. Now, the negative: 22 percent of nurses actually report a reduction in wages, and 24 percent of nurses in this group claims they've lost more than 10 percent of their income this year.
Additionally, 42 percent of nurses report a change in job duties or title and decreased work hours as reasons for lost wages. However, 60 percent of respondents who have seen salary increases claim they've received merit raises in the past year, and three percent of nurses say they were able to make more money through collective bargaining.
While the retirement rate of older nurses is reportedly lower than normal, only four percent of those who participated in the ADVANCE survey say they've been forced to return to work in the past year, and nearly half of that group (44 percent) says the return to work was the result of a planned absence that came to an end, such as maternity leave.
Stone, Malone and Kristina White, employment supervisor at Newton Medical Center in Covington, GA, all confirmed nurses in their regions have delayed retirement in most cases this year due to the economy. Younger nurses also have been hesitant to make career moves and have been more likely to remain out of the job market than is traditional, White added.
"Nurses seem to be more cautious about changing jobs," she told ADVANCE. "They want to stay where they feel they have the most job security. The result of this for hospitals in the region is a lower turnover rate and fewer job openings."
But the ADVANCE survey shows there are still jobs to be had. More than half of surveyed nurses (53 percent) say they picked up additional hours or a new job altogether over the past year based on changes to the economy.
Specialty Certifications, Benefits
Clearly, nurses who hold specialty certifications in their areas of practice make more money, according to the 2010 salary survey. Credentialed nurses make an average of more than $3 per hour and $4,000 per year than those who don't hold certifications. Likewise, those nurses who belong to unions make, on average, more than $5,000 more annually than those not in unions.
Another 56 percent of nurses report earning a rate differential for working overtime, and 79 percent of nurses say a shift differential is available at their facilities. Nearly half of ADVANCE respondents (42 percent) also report increased wages for working as a charge nurse or achieving career-ladder advancement.
However, with these benefits available nurses may also find themselves under more pressure to go back to the classroom in a down economy.
"It is more competitive than it was 2 years ago, and we've been able to be more selective [with our hires due to that]," Malone said.
When it comes to employer benefits, nursing still tends to be an attractive field, as 87 percent of survey participants report at least 50 percent of their medical benefits are covered by their institutions. Fifty-nine percent report the same benefit for prescriptions, while vision benefits (48 percent) and tuition reimbursement (42 percent) are at least partially covered through employers.
However, only seven percent of survey participants say their benefits are fully covered, and 52 percent claim to have lost some level of coverage in the past year.
What to Expect in 2011
While White said the nursing shortage "is not nearly as bad as it was just a few years ago," nobody's ready to say significantly positive changes will be noticed anytime soon. But Stone noted the current nursing job market may lead to a new level of the shortage.
"Although there seem to be more applicants applying for positions, I anticipate that the nursing shortage will get worse," Stone said, "especially for qualified nurses. Reports say that nursing schools base their number of students each year on the number of students who've graduated and received jobs. If they cut back on the number of students, and graduates from 2009 and 2010 who haven't found jobs leave the field, there may not be enough nurses to fill positions for those who retire when the economy turns around."
Joe Darrah is senior associate editor at ADVANCE.
For more salary survey statistics, go to page 2 to view charts and tables
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