7 Ways To Make More Money As a Nurse [Infographic]
Updated: Aug 3, 2020
Love being a nurse, but looking for ways to boost your income? From pursuing an additional degree to starting your own business, here are the top 7 ways to make more money as a nurse.
Looking for additional income? Sign up to pick up per diem shifts with connectRN here.
Nursing Salary Statistics:
The average salary for nurses in the U.S. in 2015 was $71,000. This takes into account salaries across the United States, so this is a broad average. Higher salaries were found in more populated states (such as California, Texas, and New York), which caused the average to inflate.
As far as employment, there were 2.7 million RNs, 720,000 LPNs and 1.5 million CNAs. This brought entire employment – just for nurses – to over 5 million jobs. What an impact!
Make More Money Tip #1: Get More Overtime
If you’ve got a stellar work ethic and ambition, this is a no-brainer and probably the easiest way to earn more money as a nurse. The average hourly wage for nurses in the United States was around $35.50/hour in 2015 (again, discrepancies by nurse specialty and location).
The average shift length for a nurse is about 12 hours long, meaning nurses can make $426 (before taxes) each shift. But, let’s say you picked up an extra shift after you’ve worked your normal 40 hour week.
This is what we do here at connectRN. We help nurses and nurses aides earn extra income during their free time by offering per diem shifts that work for them.
Make More Money Tip #2: Specialize Your Education
Continued education is definitely something that you’ll have to plan for before diving into an additional nursing degree. But, higher degrees mean higher income. Especially if you discover specializations you’re passionate about, pursuing a second degree is the best way to ultimately make more money as a nurse.
Here are a few nursing specialties and their average income across the U.S:
Nurse Educator – $71,974
Clinical Nurse Specialist – $82,601
Psychiatric Nurse Practioner – $88,441
Certified Nurse Midwife – $88,824
Neonatal Nurse – $93,430
Nurse Anesthetist – $135,111
Make More Money Tip #3: Pick Up Per Diem Shifts
Per Diem shifts are becoming increasingly prevalent. Hospitals and healthcare facilities need additional help all the time because of the new regulations in healthcare. Millions of more people have access to healthcare now meaning that hospitals are busier than ever.
But this is a fantastic opportunity for you.
Per Diem shifts enable you to have more control over your schedule, try out different facilities, and expand your network of nurses.
Make More Money Tip #4: Telehealth Nursing
Telehealth (also known as telemedicine) is the process of clinical diagnosing and monitoring through technology. This means you can communicate with patients via a live audio/video link, over the phone, or ever over a webcam.
The median income for a nurse who does telehealth nursing almost $70,000. Given the current global health situation, telehealth is more popular than ever. Now is a good time to jump on board, especially because you can often work from home.
So, if you’re looking for a change of pace, or maybe want to spend more time with the kids, this might be a really attractive option for you.
Make More Money Tip #5: Selling products on Etsy
This one isn’t related to the nursing field (unless you have a nursing product) but selling products on Etsy is a great side hustle. If you’re looking for a creative outlet during your free time, but also want to make some cash off of your talents, try selling the fruits of your labor on an Etsy store.
We’ve seen nurses who would come up with about 30 different product ideas and make about 3-5 of each and keep them in inventory. It took them a weekend of crafting (how fun!) to build it up.
Many Etsy vendors say their favorite part is running their own business. This is an awesome option if you’re looking for additional spending money or building up an emergency fund.
Make More Money Tip #6: First Aid Instructor
Becoming an independent first aid instructor is another way to earn some extra cash. In the past, some nurses have made more money doing this than their full-time nursing job!
All you’ll need to do is visit small healthcare agencies and let them know of this new service that you’re offering.
Here’s your step by step process:
Obtain CPR and first aid training (don’t forget Child and Infant CPR, and Automated External Defibrillator (AED)
Gain experience through the Red Cross
Get your business license from your county clerk’s office
Identify ways to compete – offer different/bundled services your competitors don’t.
Find a place to hold your classes (co-working spaces work wonders)
Focus your efforts where you have seen CPR training in the past. This can be from daycare centers to local pools! A little online research on your part can go a long way.
Make More Money Tip #7: Medical/Health Writing
If you’ve ever wanted to join the world of freelancing, now is your time. It has never been easier to find work and so many different companies willing to elicit your help. If you’re interested in writing and have thoughts to share, try pitching your stories to online publications.
Most writers are able to charge $60 – $100 per hour after building up a little bit of a portfolio.
Here is where you can find work:
If you have any other tips for making money as a nurse or with a side hustle, drop it in the comments!