Salary of a Nurse Practitioner: Earnings and Hourly Wages

Are you considering a career as a Nurse Practitioner (NP)? If so, one important aspect to consider is the salary you can expect to earn. Nurse practitioners play a vital role in the healthcare industry, providing primary and specialty care to patients across various settings. In this article, we will explore the average salary of a nurse practitioner, factors that can affect earnings, and the hourly wage for this profession.

Key Takeaways:

The salary of a nurse practitioner can vary based on factors such as location, experience, and industry.
Nurse practitioners in high-demand cities like San Francisco and New York tend to earn higher salaries.
Years of experience, level of education, and specialization can also impact earning potential.
The hourly wage for nurse practitioners ranges from $55 to $64, with an average of $59 per hour.
The field of nursing offers diverse career opportunities, and nurse practitioners have a favorable job outlook with projected growth.

Average Nurse Practitioner Salary by Location

The salary of a nurse practitioner can vary greatly depending on the location. According to data from Salary.com, nurse practitioners in San Francisco, CA have the highest average salary, which is 25.0% above the national average. On the other hand, nurse practitioners in Miami, FL have the lowest average salary, which is 2.9% lower than the national average. Other cities like Washington, DC and New York, NY also offer higher than average salaries for nurse practitioners. It’s important to note that salary ranges can vary based on the cost of living in each location.

In San Francisco, CA, the average nurse practitioner salary is $133,041, while the salary range is between $119,734 and $148,290. In Miami, FL, the average salary is $104,738, with a salary range of $95,096 to $113,107. In Washington, DC, nurse practitioners earn an average of $122,973, with a salary range of $110,861 to $133,423. In New York, NY, the average salary is $123,957, and the salary range falls between $111,560 and $134,666.

These salary variations highlight the importance of considering the location when evaluating the earning potential for nurse practitioners. The cost of living, demand for healthcare services, and other factors can influence salary ranges across different cities and states.

“San Francisco offers the highest average salary for nurse practitioners, while Miami has the lowest average salary. It’s important to consider the cost of living when evaluating salary potential across locations.”

Factors Affecting Nurse Practitioner Salary

Several factors can influence the salary of a nurse practitioner. These factors include:

Years of Experience: Nurse practitioners with more experience tend to earn higher salaries. As nurses gain valuable skills and knowledge over time, their earning potential increases.
Level of Education: Advanced degrees, such as a Doctor of Nursing Practice (DNP) or a Master of Science in Nursing (MSN), can lead to higher salaries for nurse practitioners. Continued education and specialization can enhance their skills and value in the healthcare field.
Specialization: Working in specialized areas such as pain management or oncology can contribute to higher earnings for nurse practitioners. These specialized fields often require additional training and expertise, resulting in higher compensation.
Location: The geographic location of a nurse practitioner’s practice can significantly impact their salary. Certain regions or cities may have a higher demand for nurse practitioners, leading to increased wages. Additionally, the cost of living in a particular area can also influence salary levels.
Type of Healthcare Facility: The type of healthcare facility where a nurse practitioner works can affect their salary. Hospitals, private practices, and government healthcare agencies may offer different compensation packages based on resources, patient populations, and funding.

Considering these factors can help nurse practitioners understand the various determinants of their salary and make informed decisions about career progression and opportunities for growth.

Average Hourly Wage for Nurse Practitioners

In addition to considering the annual salary of nurse practitioners, it’s essential to take into account their average hourly wage. According to data from Salary.com, nurse practitioners earn an average hourly rate ranging from $55 to $64. The median hourly pay is $59, and the total hourly cash compensation, including base and short-term incentives, can vary from $55 to $65, with an average of $60. This information provides valuable insights into the earning potential of nurse practitioners on an hourly basis.

Considering the nurse practitioner hourly wage provides a more comprehensive understanding of their compensation structure. While annual salary figures give an overview of the overall income, hourly wages shed light on the remuneration per hour of work. This metric is particularly beneficial for those interested in contract positions or work arrangements with flexible hours.

The following table presents the average hourly wage range for nurse practitioners:

Percentile
Hourly Wage Range

10%
$55

25%
$57

50%
$59

75%
$62

90%
$65

The data demonstrates that most nurse practitioners earn an hourly wage between $55 and $65, with the majority falling within the $57 to $62 range. It’s important to note that base hourly pay can vary based on factors such as location, experience, and specialization.

The hourly earnings of nurse practitioners are influenced by various aspects, including the complexity of patients’ conditions, the level of responsibility, and the demands of the healthcare setting. Moreover, nurse practitioners who work in specialized fields or take on additional responsibilities may earn higher hourly wages.

When evaluating career options and compensation, nurses considering further education to become a nurse practitioner can analyze their earning potential by factoring in both the annual salary and hourly wage. The hourly wage is especially relevant for those who prioritize flexibility and seek opportunities that offer a more flexible work schedule.

Nurse Practitioner Salary in New York

When it comes to nurse practitioner salaries, New York offers lucrative opportunities. On average, nurse practitioners in New York earn an annual salary of $133,940, which is significantly higher than the national average for nurse practitioners. This translates to an impressive hourly wage of $64.39, making it a sought-after location for nurse practitioners looking to maximize their earning potential.

It’s important to note that the salary range for nurse practitioners in New York is quite broad, spanning from $96,420 to $167,750. This range allows for potential growth and career progression within the field. However, it’s essential to consider the higher cost of living in New York, which can impact the overall financial advantage.

To put the nurse practitioner salary in New York into perspective, let’s compare it to the national average. Nurse practitioners in New York earn 13% more than their counterparts in other states, showcasing the competitive compensation offered in this region.

Nurse Practitioner Salary Growth and Job Outlook

The job outlook for nurse practitioners is promising, as employment in this field is expected to grow by 36% between 2016 and 2026, according to the Bureau of Labor Statistics. This projected growth rate is more than double the average growth rate for all occupations. With the increasing demand for healthcare services, nurse practitioners can expect favorable salary growth and job opportunities in the coming years.

As the healthcare industry continues to expand and the population ages, the demand for qualified healthcare professionals, including nurse practitioners, is on the rise. This increased demand is driven by several factors, such as an aging population with complex healthcare needs, a shortage of primary care physicians, and an emphasis on preventive care and health promotion.

The growing recognition of the importance of accessible and cost-effective healthcare has also contributed to the job outlook for nurse practitioners. These healthcare professionals are well-positioned to provide comprehensive primary care services, diagnose and treat common illnesses, and prescribe medications.

“The job growth for nurse practitioners is driven by an increasing emphasis on preventive care and the need to manage chronic conditions. Nurse practitioners are highly skilled healthcare providers who play a vital role in improving healthcare outcomes and increasing access to quality care.”

In addition to favorable job prospects, nurse practitioners can also expect salary growth as demand continues to outpace supply. The increasing recognition of their role in providing primary care services and the expanding scope of their practice have led to higher salaries and greater earning potential.

Furthermore, nurse practitioners have the flexibility to work in various healthcare settings, including hospitals, clinics, private practices, and long-term care facilities, which offers a range of employment opportunities. Their ability to specialize in areas such as pediatrics, geriatrics, and women’s health also enhances their marketability and earning potential.

Overall, the job outlook for nurse practitioners is highly promising, with strong salary growth and abundant job opportunities in the healthcare industry. As the demand for primary care providers continues to increase, nurse practitioners are well-positioned to play a crucial role in meeting the healthcare needs of the population.

Nurse Practitioner Salary Comparison with Other Nursing Specialties

When it comes to salaries in the nursing profession, nurse practitioners rank among the top earners. According to the Bureau of Labor Statistics, in 2017, nurse practitioners had the second highest average salary among various nursing specialties, surpassed only by nurse anesthetists. With an average annual salary of $107,480, nurse practitioners outearned other specialties such as nurse midwives.

This salary comparison highlights the strong earning potential of nurse practitioners within the nursing profession. Let’s take a closer look at the average salaries of nurse practitioners, nurse midwives, and nurse anesthetists:

Nursing Specialties
Average Annual Salary

Nurse Practitioners
$107,480

Nurse Midwives
$103,770

Nurse Anesthetists
$174,790

As seen in the table, nurse practitioners enjoy a competitive salary compared to other nursing specialties. While nurse anesthetists earn the highest average salary, nurse practitioners still have a lucrative earning potential within the nursing profession.

It’s important to note that salary figures can vary based on factors like experience, education level, and geographic location. However, overall, nurse practitioners can expect to be well-compensated for their skills and expertise.

To view the full table, please click here.

Nurse Practitioner Salary Comparison by Industry

The salary of a nurse practitioner can vary based on the industry of employment. Data from the Bureau of Labor Statistics shows that nurse practitioners working in the Personal Care Services industry earn the highest average salary of $139,460 per year. Other high-paying industries for nurse practitioners include Management, Scientific, and Technical Consulting Services and Religious Organizations. It’s important to note that employment levels can vary across industries, with the highest employment in Offices of Physicians.

Industry
Average Salary

Personal Care Services
$139,460

Management, Scientific, and Technical Consulting Services
$127,790

Religious Organizations
$124,680

Outpatient Care Centers
$120,200

Offices of Physicians
$114,940

Nurse Practitioner Salary Comparison by State

When it comes to nurse practitioner salaries, the state of residence can greatly impact earning potential. While California takes the lead as the highest paying state for nurse practitioners, offering an average salary of $126,770 per year, Tennessee falls behind with the lowest average salary of $93,970 per year. These figures highlight the substantial variation in nurse practitioner salaries across different states.

State
Average Salary
Employment Levels
Hourly Mean Wage

Alabama
$104,210
2,500
$50.11

Alaska
$125,140
300
$60.14

Arizona
$113,780
4,480
$54.68

Arkansas
$104,300
1,870
$50.15

California
$126,770
13,770
$60.96

Colorado
$111,210
4,860
$53.47

Connecticut
$120,430
2,330
$57.88

Delaware
$115,560
940
$55.56

Florida
$105,800
13,680
$50.85

Georgia
$107,460
5,060
$51.66

Hawaii
$117,660
1,000
$56.54

Idaho
$105,520
1,130
$50.73

Illinois
$106,650
9,260
$51.28

Indiana
$104,750
4,310
$50.36

Iowa
$103,200
2,670
$49.61

Kansas
$105,380
1,580
$50.68

Kentucky
$104,760
3,470
$50.36

Louisiana
$108,460
2,380
$52.16

Maine
$105,840
1,000
$50.89

Maryland
$115,250
6,690
$55.43

Massachusetts
$120,140
5,190
$57.75

Michigan
$111,680
7,550
$53.70

Minnesota
$117,280
4,000
$56.38

Mississippi
$101,740
2,900
$48.90

Missouri
$105,750
8,290
$50.85

Montana
$107,490
1,450
$51.67

Nebraska
$105,270
1,640
$50.62

Nevada
$116,400
2,230
$55.55

New Hampshire
$112,330
1,400
$53.98

New Jersey
$119,450
7,190
$57.42

New Mexico
$107,070
1,820
$51.45

New York
$120,970
26,100
$58.14

North Carolina
$107,960
11,020
$51.93

North Dakota
$112,470
1,350
$54.06

Ohio
$105,030
10,870
$50.49

Oklahoma
$106,640
3,100
$51.26

Oregon
$118,030
3,980
$56.74

Pennsylvania
$106,710
14,660
$51.31

Rhode Island
$118,620
860
$56.99

South Carolina
$103,890
3,080
$49.96

South Dakota
$105,720
1,290
$50.82

Tennessee
$93,970
4,550
$45.18

Texas
$111,330
19,510
$53.53

Utah
$109,030
1,740
$52.41

Vermont
$107,260
540
$51.57

Virginia
$109,030
8,230
$52.41

Washington
$111,780
7,280
$53.74

West Virginia
$105,660
2,960
$50.81

Wisconsin
$108,040
6,050
$51.98

Wyoming
$111,210
270
$53.47

Source: Bureau of Labor Statistics

Nurse Practitioner Income Percentile Statistics

To understand how nurse practitioner income compares to others in the profession, we can look at percentiles. Percentiles provide a benchmark for understanding income distribution within the nurse practitioner profession.

Earning $103,880 puts a nurse practitioner above 50% of their peers and below the other 50%. On the other hand, earning $145,630 places a nurse practitioner above 90% of their peers.

These percentiles highlight the range of nurse practitioner incomes and can help individuals assess where they stand within the profession.

Income Percentile Statistics – Nurse Practitioner

Percentile
Income

10%
$83,240

25%
$95,070

50%
$103,880

75%
$119,990

90%
$145,630

“Earning $103,880 puts a nurse practitioner above 50% of their peers and below the other 50%. On the other hand, earning $145,630 places a nurse practitioner above 90% of their peers.”

This table showcases the income percentiles for nurse practitioners, providing a clear understanding of how salaries are distributed across the profession. These numbers reflect the range of incomes nurse practitioners can expect and can serve as a helpful reference when evaluating earning potential and career growth.

Conclusion

In conclusion, nurse practitioners have the potential to earn a competitive salary, making it an attractive career path for those in the nursing profession. However, it is important to note that the salary of a nurse practitioner can vary based on several key factors.

Location plays a significant role in determining earnings, with certain cities offering higher salaries due to factors such as demand and cost of living. Additionally, experience and specialization can also impact nurse practitioner salaries, with those with more experience and advanced degrees often earning higher incomes.

Looking ahead, the job outlook for nurse practitioners is bright, with substantial projected growth in the coming years. The demand for healthcare services is increasing, creating ample opportunities for nurse practitioners to thrive in their careers.

As nurse practitioners consider their earning potential and career opportunities, it is crucial to take into account these various factors that influence salary. By understanding the impact of location, experience, specialization, and the evolving job market, nurse practitioners can make informed decisions about their professional paths.

FAQ

The post Salary of a Nurse Practitioner: Earnings and Hourly Wages appeared first on Zac Johnson.