What's the Average Hourly Wage for Nurse Practitioners?
Many of us as nurse practitioners are not salaried employees. We may work unconventional schedules that don't lend themselves to tabulating compensation on an annualized basis. Or, we may work less than full-time, picking up a shift here and there, making hourly pay more practical. How much should you expect to earn per hour working as a nurse practitioner?
According to the U.S. Bureau of Labor Statistics, the national mean hourly wage for nurse practitioners is $47.11 per hour. The breakdown of percentile wage estimates for nurse practitioners is as follows:
Specialty and practice area play a role in determining how much nurse practitioners can expect to be paid. NPs employed in a specialty setting, for example can expect to earn more than those practicing in primary care. On average, hospitals offer greater compensation than outpatient clinics. The following table outlines the most profitable employment areas for nurse practitioners.
If you are paid hourly, don't forget to consider the way your compensation is categorized. Nurse practitioners employed as 1099 workers will be liable for paying more taxes out of their own pockets compared to those in W-2 positions. Cost of living should also be taken into account when evaluating hourly pay for NPs in your area. Above average pay doesn't necessarily translate to a better quality of life in areas with a high cost of living. Finally, consider your benefits package as you analyze your compensation. Benefits add up and can make up for pay that doesn't meet your expectations.
How does your hourly compensation as a nurse practitioner compare to these rates?
Are these rates for new NP's? How does one compute average rates with added experience?