Master of Science in Nursing (MSN) Salary

Nurse Salaries / Master of Nursing Salary

A Master’s degree in nursing, is a higher education degree for healthcare that comes with high salary potential. Aspiring nurses with a desire to leave a lasting impression on high-level health and policy will find an MSN degree allows them to do just that. An MSN degree also allows a graduate to broaden career paths and increase earning potential at the same time. 

According to the Bureau of Labor Statistics, nursing careers requiring an MSN degree have a median salary of $123,780 per year, or $59.51 per hour. Nurses with an MSN degree earn on average about 50% more than the typical nurse with only a bachelor’s degree. Registered nurses, by comparison, earn an average annual salary of $82,750.

Broken down by industry, nurses with an MSN degree have the potential to earn the highest wages at hospitals and outpatient care centers, rather than in educational or other settings.

• Hospitals; state, local, and private: $128,190
• Outpatient care centers: $128,190
• Offices of physicians: $121,280
• Offices of other health practitioners: $104,790
• Educational services; state, local, and private: $102,680

Highest paying jobs for nurses with an MSN degree

1. Nurse Anesthetist – $202,470

Certified Registered Nurse Anesthetists (CRNAs) administer anesthesia before medical procedures while ensuring the comfort and safety of their patients. Given the delicate nature of their work, CRNAs must have extensive education – such as an MSN degree – and experience, and are compensated accordingly.

Nationwide, the average annual salary for nurse anesthetists is $202,470 – an hourly rate of $97.34.

2. Nurse Administrator – up to $200,000

Nurse administrators usually have a large number of senior-level responsibilities. They may be in charge of entire departments in hospitals, with some overseeing entire medical facilities housing multiple departments. 

Because of the crucial role they play in the administration and development of a facility, nurse administrators typically need a master’s degree, and can earn up to $200,000 a year. 

3. Nurse Practitioner – $118,040 per year

A nurse practitioner (NP) is an advanced practice registered nurse (APRN) who works autonomously to manage patients’ health care and prevent disease. You will also be able to prescribe medications if you become an advanced nurse practitioner. Because of the increased autonomy and capabilities, nurse practitioners are required to earn an MSN degree or higher in order to practice.

Nationwide, the average annual salary for NPs is $118,040 – an hourly rate of $56.75.

4. Nurse Consultant – $87,000

Nurse consultants are typically required to earn a masters degree in nursing, and often work for insurance companies or independent pharmaceutical companies. They may also act in legal settings involving healthcare policies and regulations.

The average annual salary of a nurse consultant is $87,000.

5. Research Nurse – $75,000+

Research nurses work to come up with new medical treatments, medications, and vaccinations. They also help care for patients during case studies. Research nurses work with cutting-edge research that provides critical insights into the industry. Their work helps push the nursing and healthcare field forward.

This position typically comes with a salary ranging from $75,000 up to $95,000 a year.

MSN Salary Takeaways

Graduating with an MSN degree is an excellent option for those who want to career in nursing and to also earn a high salary. 

Want to check out your potential nurse salary with an MSN degree? Use the nurse salary estimator to see what nurses are making all around the country.