By Preston Fore

During and following the pandemic, increased attention was placed on the nursing profession. While the world can agree they deserved to be paid well and respected, there remains high burnout in the field—which in part has led to a shortage of nurses in many communities.

For those who are eager to take on the challenging—yet rewarding—field of nursing, obtaining a master’s in nursing or nurse practitioning can be one way to stick out from the pack, especially if you are eager to work at one of the nation’s best hospitals. But before you get started, you are probably wondering: how much in salary can you earn as a nurse? Here’s everything you need to know.

How much do nurses make?

The median salary of a registered nurse is about $86,070, according to the U.S. Bureau of Labor Statistics. One’s exact pay may depend on a variety of factors, including setting, experience level, and education. For example, those pursuing a nurse licensure via a bachelor’s degree may be initially paid greater than those who seek it through an associate’s or diploma program.

Nurse anesthetists, midwives, and practitioners experience much higher salaries—earning about $129,480. These roles are also seeing much higher demand. While registered nurses are estimated to grow by a rate of 6% over the next decade, anesthetists, midwives, and practitioners are expected to grow by 38%. The latter, though, does require much more education—with a master’s degree required.

For comparison, the average salary of a tech worker is about $111,193.

Nursing salaries by industry

Nurses tend to make the most money working in government or hospital settings, according to data from the U.S. Bureau of Labor. Those employed within educational services or care facilities tend to make the least; while lower than the median of a typical nurse, the pay is still above the national median of all occupations.

Nurse salary by state

Registered nurses have the highest salaries in California, Hawaii, and Oregon, whereas they earn the least in Alabama, South Dakota, and Mississippi.

In eight states—California, Hawaii, Oregon, Washington, Alaska, New York, Connecticut, and New Jersey as well as the District of Columbia, the median salary for a nurse is over $100k. However, they make less than $75,000 in six states: Alabama, South Dakota, Mississippi, Iowa, Arkansas, and North Dakota.

As you analyze the salaries of nurses, it is important to keep in mind that how much a dollar will buy you can differ drastically in various states. In New England and on the west coast, the cost of living is much more expensive, and thus, salaries may be higher to compensate.

Comparing the relative cost of living in each state

The most costly regions to reside in were Hawaii, Alaska, the Northeast, and the West Coast, where expenses were driven up by factors such as high housing costs and food prices. The most affordable areas were found in the Midwest and Southern states, where living costs tended to be lower.

The table below includes a ranking of the states where registered nurses experience the highest salaries on average. The cost of living (COL) index for each state, as seen below, is calculated by the Missouri Economic Research and Information Center (MERIC), which averages indexes from metro areas and cities, and incorporates costs for groceries, housing, utilities, and transportation. The baseline for the U.S. as a whole is 100, so those above it experience high cost of living, those below it are lower.

One of the most striking parts of this data is the scale. Nurses in California make just over double those than live in Alabama.

Factors affecting nurse salary—and how you can make more

Talking about salary isn’t an easy subject, but according to Kent Plunkett, pay transparency isn’t necessarily about knowing what your peers make. Instead, he says, it's about whether your company is willing to have an open conversation since so many factors can play in decisions.

“You can't know what all those factors are—you don't really know performance of your peers, you don't really know where they rate on all their skills, knowledge and attitudes and need for a job,” he adds.

Role and intensity

Even though a lot of the data behind nursing salaries is analyzed across the board, not all nursing jobs are the same, and resultantly, neither are the salaries. For example, the median salary of a school nurse is closer to $56,000, according to salary data, whereas an operating room nurse makes around $87,000.

A nurse in more intensive roles, such as in the room during a major surgery or in the emergency room, tend to make higher salaries as compared to those in more subdue environments like a school or office building (not to say that those jobs are not important). Lead or charge nurses also tend to make much more than a staff nurse due to increased responsibilities like organizing beds and assigning tasks.

Location

To no surprise, nurses tend to make more money in states where the cost of living is higher—such as on the west coast and New England. However in communities with dire nursing shortages, individuals may also experience substantial recruitment pay bumps or bonuses as an incentive.

For those who are feeling adventurous or need a brief change of serenity, travel nurse contacts are also a great way to not only obtain a unique experience but also to possibly earn a higher salary and bonus.

The takeaway

Becoming a nurse is not for the faint of heart. While there is a variety of paths a nurse can take in their career, caring for human lives is still at the center of it all. The salary of registered nurses, while not as high as say, a field in the tech world, it can still be quite rewarding financially—especially if you take advantage of incentives like bonuses or even upskill to a nurse anesthetist of practitioner.

Based on the data, nurses in states like Minnesota or Texas may end up with the most spending cash due to a lower cost of living and higher than average salary. On the other hand, those in states like Utah, Florida, and Maine may not reap the same benefits due lower than average pay in areas with high cost of living.