What Is the Value of a Master's Degree in Nursing?
If you are interested in earning a master's degree in nursing (MSN), we've compiled a list of all the reasons an MSN is beneficial for a nursing career. Find out if an MSN is right for you and enroll in a program today.
A master's degree in nursing (MSN) is an advanced professional qualification in healthcare that can provide several important benefits to graduates.
While registered nurses are required to have at least an associate degree in nursing, many nurses will gain personal and professional advantages from an advanced degree, such as an MSN degree.
Find out if earning an MSN degree is the right decision for you by learning about the value provided by these programs.
What Is the Value of a Master's Degree in Nursing?
According to a recent survey, 46% of registered nurses said they plan to pursue further education.
Common motivations for earning higher degrees included improved patient outcomes, increased salaries, higher self-esteem, job security, leadership skills, and personal achievement.
Here are some benefits of earning an MSN degree.
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1. Earn a Higher Salary
Nurses with an MSN degree will typically earn significantly higher salaries than those with ADN or BSN degrees.
A recent study found that the median salaries for RNs by education were:
- $67,000 for ADN
- $78,000 for BSN
- $100,000 for MSN
Nurses with an MSN degree can expect to earn well above the national median of $77,600 for all RNs.
Nurses with MSN degrees will also be prepared to sit for board certification exams and qualify for advanced nursing roles which pay a median salary of $123,780.
An MSN degree can lead to a substantial increase in earnings over the course of a nurse's career.
2. Qualify for In-Demand Roles
According to the U.S. Bureau of Labor Statistics, the healthcare needs of the growing elderly population will be met with a team-based strategy featuring highly-skilled nurses.
Advanced nurses are expected to fulfill many of the duties of physicians and lead teams of healthcare professionals in solving complex problems.
The demand for these advanced nurses is expected to increase by 40% over the next decade. This rapid increase is around eight times higher than the national average for all professions.
Nurses with an MSN degree will be well-positioned to take advantage of this emerging trend.
In addition to competitive compensation, highly qualified nurses will likely experience job security and may even be able to choose between multiple employment offers.
3. Specialize in an Area You Love
One of the advantages of earning an MSN degree is the ability to pursue more dedicated roles in a specific area of healthcare that you are passionate about.
MSN degrees that lead toward advanced practice registered nurse practitioner (APRN) certification typically come in four areas. These programs prepare graduates to become:
- nurse practitioners
- nurse anesthetists
- clinical nurse specialists
- nurse midwives
Some other common areas for nurses to concentrate on in a master's program include:
- public health
- nurse education
- nursing informatics
- clinical nurse leader
- nurse researcher
- nurse executive
In addition to the value provided directly through higher compensation and job security, these concentrations often relate to the personal interests of nurses.
Nurses who are able to dedicate their time to a field they feel connected to will typically experience higher job satisfaction.
Expertise in a specific area may also enable nurses to choose more desirable shifts and working conditions as they gain experience and seniority.
An MSN degree can be a crucial step in moving from a general healthcare professional to an expert in a specific area such as family practice or public health.
4. Gain Multiple Qualifications with a Dual-Track Degree
Dual-track programs allow students to earn an MSN degree in combination with another area of study.
Nurses with a double master's degree will have the rare qualification of having clinical healthcare experience and medical training as well as an advanced grasp of another field.
Common dual-track degrees combine nursing with:
- business administration
- public health
- health administration
- health management
Nurses who complete a dual-track master's degree are often well-positioned to take advantage of business, administration, or leadership opportunities in healthcare-related sectors.
5. Contribute to the Future of Healthcare Through Nurse Education
Nurses who gain an MSN degree will have both the theoretical and practical knowledge to educate, train, and lead teams of healthcare professionals.
While some MSN degrees focus specifically on nurse education, nurses with any type of MSN degree will be among the more qualified members of the team and will often be called on to train or mentor less experienced nurses.
The ability to pass valuable medical knowledge on to new generations and improve patient health outcomes through nurse education is a highly rewarding outcome of an MSN degree.
FAQs About MSN Degrees
Here are the answers to some of the most common questions about master's degrees in nursing.
What Are the Education Requirements for an MSN Degree?
The educational requirements will vary depending on the master's program. In most cases, students will have completed a BSN degree, but this is not always necessary.
A nursing license is also required by the vast majority of MSN programs.
Because students must complete an approved nursing degree before taking the NCLEX exam, registered nurses will have at least an associate degree in nursing (ADN).
In rare instances, students with no background in nursing may be able to complete an MSN and sit for licensing exams upon graduation.
How Long Is an MSN Degree?
The time needed to complete an MSN degree also depends on the educational and professional background of the student.
Most programs take around two years to complete, consist of 30 credits or more, and include some clinical experience hours.
Students with a BSN degree may be able to complete an MSN at a faster rate.
Earn a Master's Degree in Nursing to Boost your Career
A master's degree in nursing is a highly valuable qualification for individuals pursuing a career in healthcare.
Not only will graduates of MSN degree programs typically earn more money, they are often able to advance into leadership and senior roles and specialize in an area that interests them.
Find the perfect master's degree in nursing today and take the next step in your healthcare career.
