In order to determine what their future is going to look like, many nursing students ask the question: how much do registered nurses make per month? If you’re interested in a career in nursing, this is an important question that requires an answer. A registered nurses’ monthly salary depends on many factors. These include things like location, hours worked, and employer type.
Through this article, we’ll briefly discuss just how much money a registered nurse can be expected to make on average.
Registered Nurse Salary
In general, registered nurses make a certain amount of money per month. According to the BLS, or the Bureau of Labor Statistics, registered nurses make an average of $67,720 per year, meaning about $5,643 a month or $32.56 an hour. Note that this is an average of all registered nurse jobs. The BLS also stated that the top 10 percent of nurses earned around $45.54 per hour, while the lowest 10% earned an average of $21.65 an hour.
As previously mentioned, a registered nurse monthly salary is dictated by factors such as experiences – more experience often means more money, location, areas with higher populations tend to have more income. The type of employer also plays a role- whether it’s a governmental, profit, or non-profit organization. Additionally, which state you decide to work in factors greatly in how much money you make per month. Check this Nurse Salary Guide for more information.
Monthly Take-Home Salary
While the previously mentioned information shows that registered nurses earn highly competitive salaries, it should be noted that these are figures before taxes, savings, retirement accounts, and insurance. Well, then how much does a registered nurse really make per month?
Your gross monthly salary is the amount of money earned before taxes are taken out. Let’s use a sample amount of money to calculate the average amount of money made, depending on the number of hours you worked. Let’s say you made about $50,000 in one year. This would mean that your gross monthly income would be around $4,166.66. But, this is not your take-home pay, this is your income before subtracting things like Medical insurance.
Federal Income Taxes, and Social Security Taxes. All of these taxes would total to about $515, making your monthly take-home salary about $3,651.66. Now, this could be your final take-home salary, but some people choose to enroll in retirement or savings plans like the 401k. Thus, your take-home pay could be even further reduced. But, also keep in mind that most careers require the deduction of the above mentioned taxes.
If you are looking for a definitive answer to what your monthly income will look like as a registered nurse, keep in mind that the income you make will very much depend on the hourly wage you earn, the taxes you will have to reduce, as well as factors such as the location and kind of hospital you work in. The amount of money earned varies from one registered nurse to another. Some nurses make more than $50,000 a year, while others make as little as $30,000. It all depends on the previously mentioned factors. So, do your research in the location where you will be working in order to determine your approximate monthly salary.