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Are you wondering How to Make More Money as a Nurse? Today we’re going to be going over our top ways to make more money as a nurse.
Nursing degrees (BSN) are one of the most versatile degrees you can get. Why? Because, there is a multitude of options you have when it comes to jobs, making more money, working more, and progressing into various other areas of work. For example, nurses can either practice in a hospital or even more into some sort of medical sales positions.
There really is a whole lot of things that nurses can do to increase their income. But, we’ll be getting into all of that!
How Much Money Do Nurses Make (RN Income)?
According to Teach.com the average registered nurse (RN) salary in the United States is around $70,000 per year. However, in nursing there is a lot of opportunities to increase your income.
While many RN’s might consider advancing their careers by means of going back to school for a Master’s or Doctorate, there is other avenues to take! If you want to go back to CRNA school or another form of education advancement, then that is always an awesome route to go down.
Best Ways to Make More Money as a Nurse
1. Work More
While the first way to make more money as a nurse might seem simple, it’s true. Most nurses have the capability of working over their allotted full-time hours (40+ hours a week). They also can get certain bonuses or premium pay. Combine these bonuses, regular pay and overtime and you get a healthy extra load of cash each month.
Depending on the hospital you work for, bonuses can be as much as $20-30 an hour extra! This is on top of regular hourly salary, plus any overtime you’re accruing. It isn’t rare for nurses to earn around $60-65 an hour with overtime and premium pay.
While it might sound silly that an extra way to make more money would be to work more, it’s very valid. Nursing is a profession that has the luxury of working more. A lot of jobs don’t have that luxury. So, for example, just working an extra shift per month can net you as much as an extra $6,000-10,000 per year! It sounds like a lot, but do the math! It works out.
2. Take a Travel Assignment
Travel nursing has it’s advantages and disadvantages. However when it comes to monetary compensation, it’s normally pretty great.
Traveling as a nurse is compelling for several reasons. A lot of young nurses might enjoy the nomadic lifestyle associated with travel nursing. Additionally, there is a lot of assignments that might not even require you to travel very far. For example, as long as it isn’t at a hospital you’re currently employed at, then you’re able to call it a “travel” or “contract” assignment.
There is a lot of information out there about travel nursing, but typical assignments can pay around $3,000-6,000 per week. In addition to regular pay, travel companies offer stipends for living expenses as well as potential bonuses for other events (such as pandemics).
Along with taking an assignment, a lot of nurses will keep their jobs as a PRN position. This ensures that not only you have a job to go back to, but you also can get extra shifts in within the week!
3. Start a Business
This might seem like pretty generic advice, but one of the easiest ways to make extra (or passive) income is to start a business on the side. There are a lot of different things that nurses can do on the side to make more money.
- Sell things on Etsy
- Start a Blog
- Teach people on Kajabi or Teachable
- Create a product such as Scrubs or Shoes
- Tutor nursing students on Wyzant
- Sell services on Fiverr
Starting a business can be easier than most people think. All it takes is a few extra hours per week and some dedication. Putting in those hours over several years can really add up to make a successful business.
4. Start a YouTube Channel
It might sound silly, but starting a YouTube channel is no longer a joke when it comes to making money. There are a lot of nurse YouTubers out there that probably make some pretty good income on the side. While it might take a bit longer to see returns, your hard work should pay off in the end! YouTube careers lead to other business opportunities, passive income, and income that could last for a significant amount of time.
If you’re looking for inspiration for YouTube video ideas, check out these top nurse YouTubers. Or, create your channel around any of your favorite topics!
5. Money Making Sites and Apps
Using money making sites (ad watching, survey filling, etc.) can increase how much money you make as a nurse! While on a quiet shift, you can use your phone or smart device to make more money. These websites/apps pay you for either fill out surveys, watch ads or other varieties of applications. While it might seem boring, typically if you aren’t doing much on a shift, or just watching TV, it can be a very easy way to earn some extra cash.
6. Advance Your Degree
Furthering your nursing education can have drastic effects on your salary. For example, CRNA’s (Certified Registered Nurse Anesthetist) can make upwards of $200,000 per year! While you might not want to advance your degree to further nursing paths, you can also go the technology route. A lot of informatics nurses can have salaries ranging from $70,000 to $160,000 per year.
When it comes down to it, there are a lot of extra ways for nurses to make money. Each way has it’s own pro’s and con’s, however, they will all require some sort of effort on top of your regular work week. Working hard can really pay off, and nurses are fortunate to have awesome flexible degrees.
In the end, to make more money, you’ll have to work hard. Nurses are some of the most hard working people, and continuing to work hard can prove to be worth it.