Nurses don’t climb the corporate ladder in the traditional sense. Raises are generally scheduled. This to say that you will have a reasonably accurate understanding of how much money you can make throughout your career on day one at the job.
Unfortunately, you don’t make more money just by being awesome at your job. To advance your career you’ll need to both continue your education and specialize. What does that look like for you?
In this article, we take a look at how you can advance your career in a way that is both rewarding and satisfying.
Advanced Practice Nursing
When most people think about career advancement in nursing, they imagine advanced practice nurses. Nurse practitioners, possibly more than anyone else. They have proliferated in recent years, thanks largely to loosening state laws that allow them to do basically the same things as a general practitioner.
Many states have expanded their scope of practice significantly. You could spend fifteen years in school to become a GP or more like eight to do basically the same things as an NP. The educational investment difference is substantial.
And while GPs do generally make more money, NPs enjoy competitive salaries, flexible work environments, and in some states, they can even start their own practices. Many earn six-figure incomes within a few years.
Advanced practice nurses of any kind will need to get a graduate degree. Some schools will actually let you do this while you are still working on your undergraduate degree. Basically you “bundle” aspects of the program so that you are working on graduate classes before you have even completed your bachelor’s.
These accelerated programs save both time and money. In any case, you’ll need to dedicate several years, and quite a bit of money to this credential. The investment typically pays off within the first decade of practice.
Special Certifications
The quicker path to career advancement is to pursue a specialized certification. This will allow you to work in a vast range of different jobs. Forensic nursing.
Educational nursing. School nursing–which is different from educational nursing. Neonatal nursing. Psychiatric nursing. Each serves a unique healthcare function. Basically, any niche position within the profession generally requires a specialized certification. The requirements vary widely depending on the specialty area.
Some of these jobs come with higher salaries. Critical care and emergency certifications often command pay premiums. Others are just more flexible, or of greater personal interest. Many nurses find school nursing offers a better work-life balance. The majority of people who pursue a specialized certification do it because they are hoping to work in a healthcare field that they are passionate about. Passion for a specific population drives most specialty choices.
The certifications do take time and money but you can usually work on them while you are doing the job. Most programs are designed for working professionals. Your new employer may pay for your certification requirements. Many hospitals offer tuition reimbursement programs.
Once you complete all of the specialty requirements you can work without supervision–generally for a better salary. The autonomy and expertise make the investment worthwhile for most nurses.
How Far Can a Nurse Go?
How far can a nurse go? Arguably the highest position a nurse can occupy is that of the CNO–chief nursing officer. This is a C-suite position that will put you in one of the highest positions at the hospital.
The CNO oversees all nursing operations within a healthcare facility. They develop and implement policies that affect patient care standards. CNOs manage budgets, staffing, and strategic planning for the entire nursing department.
They also serve as the primary liaison between nursing staff and executive leadership. Educational requirements typically include a Master’s of Science in Nursing (MSN) at minimum. Many CNOs hold doctoral degrees such as DNP or Ph.D. in Nursing. Years of progressive leadership experience are also essential.
CNOs can easily make $200,000 a year. At really big hospitals that number will be even bigger. The role comes with substantial compensation reflecting its responsibilities.
Understand, however, that at this point you aren’t really working as a nurse anymore. You may focus on what nurses do day in and day out, but you won’t be involved in direct patient care. Your hands rarely touch patients.
That’s a very different set of responsibilities for someone who got into the profession passionate for helping others. Many CNOs miss the human connection of bedside nursing.
This, of course, is not to say that CNOs don’t help people. They do. The choices they make have an enormous impact on the communities that they serve. Their decisions affect thousands of patients and staff members daily.
They just experience those contributions in very different ways than they might be used to. The satisfaction comes from system-level improvements rather than individual care moments.
Other Healthcare Careers
Naturally, there is more to healthcare than just nursing. Doctors, administrators, and even pharmacists all have the opportunity to advance their careers and strengthen their credentials through continuing education.
Often, ongoing learning is a requirement. Try to fulfill it in ways that enrich the way you experience your profession.
What is the Best Way to Look at This?
What is the best way to look at this? Here’s the thing about nursing. It’s a really hard job. Many people leave within the first five years for exactly that reason.
School alone cannot prepare you for how physically exhausting and emotionally draining this work is. Only living in a world of twelve-hour shifts, constant stress, and constant tragedy can fully communicate the realities of the job.
The burnout rate is particularly high among new graduates.
No sensible person goes into the job hoping to get rich. They do it because it resonates with them. The calling to help others drives most nurses forward. You shouldn’t just look for a specialization that will pay well.
You should look for something that you will enjoy doing for forty years. Finding an area that matches your temperament and values is crucial. If the pay is awesome–great. If not—well, you didn’t get into nursing for Porsche money. Your career satisfaction will ultimately depend on finding meaning in the work itself.
