The Financial Benefits of Being a Nurse You May Not Have Realized

• Nurse Anesthetist (CRNA) — $125,900
• Nurse Midwife (CNM) — $125,900
• Nurse Practitioner (NP) — $125,900
• Registered Nurse (RN) — $81,220

3. Build wealth with competitive benefits

Whether you’re employed by the government, a non-profit, the private sector or yourself, nurses have a variety of strategies for building wealth, investing for retirement, and saving for major financial milestones.

Depending on your employer, you may have access to retirement benefits such as a 401(K), 457(b), 401(a) or another fund. It’s never too early in your career to take time to understand the retirement plan options available to you through your employer or union. Learn more about How Nurses Can Save for Retirement here.

Nurses can also take advantage of savings on their favorite everyday products through programs like Laurel Road Perks! for Nurses. As a member, you could access exclusive discounts on premium brands, subscriptions, and services that save you time and money, and help keep you healthy at home or on-the-go.

4. Take advantage of condensed work week and options for overtime

Compared tonine to five desk jobs with rigid schedules, the flexibility in scheduling that may comewith nursing could open the door to financial benefits that may not be so obvious. A condensed work week may give you the ability to pick up extra shifts and significantly increase your salary through accruing overtime hours.A condensed schedule may also offer the possibility to save money on commuting costs and child-care or pet-care.

5. Enjoy lower debt vs. income – compared to other healthcare professionals

Compared with other healthcare professionals and specialties, RNs have the potential to take on less student debt and reach their earning potential within a few years of education and training. While APRN careers may require more years of training and potentially more student loan debt, there are still ways to maintain a lower DTI overall. Watch this quick-hit video to learn more about calculating your DTI. Carrying less student loan debt overall could give you financial freedom to start “living life” sooner.

With additional programs such as loan forgiveness for nurses or student loan refinancing, you couldmanage and pay off your nursing school loans faster.

Perks of being a nurse

Though there are various financial benefits of being a nurse, the reward could extend beyond the paycheck. Nursing provides the chance to make a positive impact on the lives of others. With these tips in mind, as a nurse, you could enjoy both the financial benefits and beyond.