7 Ways to Earn Over 100k as a Nurse
Registered nurses have a very rewarding and fulfilling career that offers the chance to make a positive impact on patients' lives but is also a financially stable career. While nurses typically earn a competitive salary, most nurses do not make over 100k a year. There are several ways to boost your income and reach the six-figure mark. In this article, I will explore seven ways registered nurses can make over $100k annually. From the typical picking up extra shifts to exploring specialized nursing roles, there are a variety of ways to reach the goal.
I will attach some great book and journal resources to help you with your nursing side hustle journey!
1. Overtime in Nursing
One of the most straightforward ways to increase your income as a registered nurse is by picking up extra shifts. Many healthcare facilities offer overtime, shift differentials, extra shift incentives, and provide more money for working evenings, nights, weekends, or holidays. By taking advantage of these opportunities, you can significantly increase your income. Additionally, some hospitals or clinics may offer incentive programs for nurses who are willing to work extra hours, providing even more financial incentives. One downfall of picking up too many shifts is the amount of taxes that eat your income alive.
However, if you pick up an extra shift a week, working 48 hours a week and having 3 days off instead of 4 you can make a substantial amount more money. Let’s do some basic math.
Say you are a nurse who makes $35 an hour. If you work 36 hours a week, your weekly income is $1260, your monthly income is $5040, and your yearly salary is $65,520. This is the money you would make if you picked up no extra shifts.
Now you are the same nurse who makes $35 an hour, but you like to pick up 1 extra shift a week for overtime pay of time and a half. 1.5x. Sometimes this does not kick in until you have reached the overtime after 40 hours a week. So your weekly income is now $1820, your monthly income is $7280, and your new yearly salary is $94,640.
So with just one extra shift a week, you have increased your salary by $29,120 per year. That is a lot of money that could go into savings, a house, vacations, or retirement. Now the extra 5k could be made up from additional side hustles listed in this article.
2. Travel Nursing
Travel nursing is an exciting and financially rewarding option for adventurous nurses. As a travel nurse, you can work short-term assignments (usually 13 weeks) in different locations, usually in areas with high demand for nurses. Travel nurses typically receive higher hourly rates, housing allowances, travel reimbursements, and other benefits. This flexibility allows you to explore new places while enjoying a higher income. Travel nursing also provides opportunities to work in specialized fields and gain valuable experience, making you an even more sought-after nurse. I would suggest looking at travel contracts and other travel nurses' social media to see how much they made for a year.
Check out this book to help you start your travel nursing career
3. Telehealth Nursing
Telehealth has gained significant popularity in recent years, and the pandemic increased its growth. As a registered nurse, you can get into telehealth opportunities to provide remote patient care, counseling, or health education. Telehealth platforms allow you to work from home, offering flexibility and potentially higher hourly rates. Working from home could be a great way to relax away from the hospital setting as well.
4. Nursing Study Notes
During your nursing school and continued education, you increase your knowledge and study materials. You can monetize these resources by selling them online. Various platforms cater to nursing students, such as Etsy and Instagram shops which offer study guides, flashcards, nursing notes, and practice exams. By creating and selling high-quality study materials, you can help other aspiring nurses while generating a passive income stream from notes and materials you spent years creating. Some people who have really good handwriting should especially sell their notes because there are a lot of students that love the aesthetic of handwritten notes.
Here is a resource to help you start your Etsy side hustle!
5. Nurse Blog
If you enjoy writing and sharing your nursing experiences, starting a part-time blog can be a great side hustle. Blogging allows you to share insights, practical tips, and personal stories. With consistent effort and quality content, you can monetize your blog through advertisements, sponsored posts, affiliate marketing, or even by creating and selling your own digital products, such as e-books, products you have created, and online courses. While building a successful blog requires time and dedication, it can generate substantial income in the long run if you are consistent and dedicated.
6. Nurse Advanced Certifications
Specializing in a particular area of nursing can significantly boost your earning potential. By pursuing advanced certifications such as becoming a nurse practitioner, clinical nurse specialist, nurse anesthetist, nurse injector, midwife or other advanced careers you can achieve a higher salary. These careers usually require additional education and training, but they open doors to a better schedule, benefits and a higher paying salary.
Every nursing specialty has its own extra certifications such as RNC-OB or CCRN, but they do not always come with additional pay. Even though it certifies you as a specialized nurse in your field.
7. Start a Side Business
Nurses possess a diverse skill set that can be leveraged beyond patient care. Consider starting a side business that matches your interests and expertise. This could involve providing healthcare consulting services, offering CPR and first aid training, birthing classes, health coaching, or even starting a home healthcare agency. Starting a side business requires careful planning, research, and dedication, but it can provide significant financial rewards and personal fulfillment. Side businesses can also include selling products and notes for students. there are a million ideas that you can create to generate more income.
While working as a registered nurse provides a stable income, exploring additional forms of income can help you reach or exceed the $100k mark. Whether you choose to pick up extra shifts, explore travel nursing opportunities, explore telehealth, monetize your study notes, start a part-time blog, pursue advanced certifications, or start a side business, the possibilities to increase your yearly salary are vast. Each option comes with its own advantages and disadvantages, so consider your preferences, lifestyle, and long-term career goals when deciding which side hustle works best for you. By diversifying your income streams you can achieve financial success while continuing to make a positive impact in the nursing profession.
