Being a family nurse practitioner entails numerous benefits, one of which is substantial earnings.
The nurse practitioner or advanced practice nurse has more complicated responsibilities than registered nurses. What special nursing activities does this nurse have to perform?
- Identify and treat minor ailments and injuries.
- Conduct and interpret special diagnostic examinations like laboratory testing and X-ray.
- Some nurse practitioners are also assigned by insurance agencies and Medicare companies to bill for their services.
This medical professional can work in large hospitals and clinics or engage in independent and group practice.
Wage Rates for Nurse Practitioner
The salary of family nurse practitioner generally differs depending on field of specialization, employer and location. Recent employment posts made by job portals such as Indeed.com reflect that the average yearly annual income of a nurse practitioner ranged from $52,000 to $122,000. These are based on June 2012 figures. These can be broken down into $58.65 and $25.00 per hour if the nurse practitioner worked for 40 hours each week. The rates are in accordance with the compensation that Allied Health World (Resource for Health Care Information) reported for these practitioners last year. The figures were $97,000 annually or $46.64 per hour.
On the other hand, HealthCareers.com revealed that the primary nurse practitioner fields in 2011 based on the number of jobs included family practice, internal medicine, mental health, pediatric medicine, and emergency room. The field of specialization with the highest hourly rate was $49.87. The others were neonatal units ($47.99); retail clinics at ($46.54); gerontology ($45.43); and, mental health ($44.42).
Other Factors for Consideration
The experience does not have too much impact on the salary for nurse practitioner following the first five years of practice. This is based on a 2012 survey on salaries of nurses carried out by the Clinical Advisor. The nurse practitioner with less than five years of experience made $40.84 while those with 20 years and above earned an average of $42.56. Male nurses had a bigger income at $48.23 per hour. In contrast, their female counterparts were limited to $42.02 every hour.
Regional and work location is another major factor. Standard rate per hour (2012) in the west was $44.88 based on the 40-hour work week. Nurse practitioners in the northeast had a wage of more or less $44. Nurses in the south earned $42.68 while those in the mid-west made $41.14 every hour. The Clinical Advisor also disclosed that advanced practice nurses working in offices were paid $40.66 per hour although clinic wages depended more on the locality. The nurse practitioner salary in a hospital took home $44.91and those in independent clinics received from $41.07 to $41.15 an hour.
Allied Health World also claimed that nurse practitioner wages varied depending on highly-urbanized areas. Nurses in the states of New York and San Francisco grossed $115,000 annually which translates to $55.29 per hour. The third is Atlanta with a yearly compensation of $101,000 and hourly rate of $48.56. Minneapolis had the lowest at $81,000 annually and $38.94 an hour. Nurse practitioners in urban hubs had average hourly earnings of $43.89 while those in suburban areas made $42.10 every hour.