Whether you’re a nursing professional, a Registered Nurse, or a nursing student you might be looking to taking your career to the next level. To obtain the most advanced nursing positions, one of the biggest requirements is that you complete a master’s degree in nursing, also called a Master of Science in Nursing or MSN.
Advantages Of Getting Your MSN
1. An MSN can open up new career doors
Besides the fact that some nursing specializations require a master’s degree, certain positions at prestigious hospitals and healthcare organizations may give preference to candidates who have their MSN as well.
If you have any intentions of focusing on one type of nursing, like nursing informatics or nurse practitioner or taking on a managerial role in a hospital, completing an MSN is probably in your best interest.
Following are some advanced practice roles that require an MSN
- Nurse Practitioner
- Nurse Educator
- Clinical Nurse Specialist
- Nurse Anesthetist
- Psychiatric Nurse Practitioner
- Nurse Midwife
2. You have the potential to earn a higher salary with an advanced degree
As mentioned above, some advanced nursing practices do require an MSN, but they also have significantly higher salaries than what an RN typically earns. For example, Certified Registered Nurse Anesthetists earned a median salary of $183,580 as of September 2021, according to the Bureau of Labor Statistics, more than double that of an average RN’s salary.
3. There are many program options
From part-time programs to accelerated ones, and even online MSN degrees, there are more choices than ever for earning an advanced nursing degree. Students can choose full or part-time in some cases, and customize their course schedules thanks to schools catering more to adult students, and technology that allows for remote and distance learning. This is especially helpful for people who would like to continue working while they go to school.
4. You’ll gain a deeper knowledge of a specific area of nursing
Some advanced nursing practices may require learning an advanced skill set than what typical RNs are exposed to, whether it’s working exclusively with cardiac patients, in a neonatal unit, or as a forensic nurse. MSN programs often allow students to choose a specialty track so they go more in-depth with their studies, and become experts in their field.
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Drawbacks Of Getting Your MSN
If MSN programs were simple and free, everyone would get one. But like any other educational pursuit, there are some potential obstacles to consider.
1. MSN programs are expensive
There’s no avoiding the fact that advanced degrees are a big investment, costing in the tens of thousands of dollars. Even though they have the potential to pay for themselves in a few years, coming up with the money to pay tuition or borrowing funds is sometimes a deterrent.
US News estimates that an online master’s degree in nursing can cost somewhere between $35,000 and $60,000 depending on the school and degree focus.
2. Advanced degrees in nursing are tough
Master’s programs are challenging – there’s no doubt about that. But even more so for nurses who are continuing to work and juggle family responsibilities as they take classes. It can certainly be done, as thousands of students prove each year, but it’s not an endeavor to be taken lightly.
3. Coursework and clinical hours are time-consuming
Even if you decide to take your time or go the online MSN route, you should still be prepared to dedicate a significant number of hours per week to your studies and/or clinical requirements. Doing so will likely require some shuffling around of responsibilities, and a strong support network at home and work.
4. You may need prerequisites
Some MSN programs have prerequisites required for enrollment, such as a recent statistics class or experience as a nurse
Is a Master’s Degree In Nursing Right For Me?
An MSN degree is probably a good idea for those who want to pursue:
- Advanced practice areas such as
- Nurse practitioner (NP)
- Clinical nurse specialist (CNS)
- Certified nurse midwife (CNM)
- Nurse leadership such as a nurse administrator role
- Education-related roles at the postsecondary level
- Research-related roles such as in clinical trials and case studies
- Legal consultation practice within and outside of the hospital setting
- Other advanced career opportunities with higher pay
How Much More Will I Earn With An MSN?
The exact figure will vary considerably based on your specialty, employment setting, and full- or part-time employment.
However, US News & World Report estimates that an RN with a master’s degree will earn around $20,000 per year more than an RN with a two-year or Bachelor’s degree.
It’s not uncommon for a nurse with an MSN to earn more than $100,000 per year. According to the U.S. Bureau of Labor Statistics, some advanced practice registered nurses like nurse anesthetists, nurse midwives, and nurse practitioners earn an average of $117,670 annually.
How Much Does An MSN Cost?
One study1 found that the average MSN degree (of 36 programs studied, and assuming you have a BSN) cost $36,646. The least expensive program (disregarding in-state tuitions) was $285 per credit hour and the most expensive was $1,059.02 per credit hour.
Your program may be more or less than average depending on your current degree level, your in-state status, and obviously, the school you choose.
MSN Degree Accreditation
Whatever school you choose, make sure it is accredited by either the Accreditation Commission for Education in Nursing (ACEN) or the Commission on Collegiate Nursing Education (CCNE).
If your school was not accredited, your degree may not help you. That’s because hospitals and other employers check the school accreditation for any degrees before hiring.
Nursing news, education and community stories. Nurse.org. (n.d.). Retrieved from https://nurse.org/.
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