For TA and recruiting, the Nurse.com 2024 Nurse Salary and Work-Life Report provides invaluable insights into the current landscape of nurse compensation, benefits, and workplace dynamics. This comprehensive report provides data-driven intelligence to develop competitive compensation packages, tailor benefits offerings to meet nurses’ evolving needs, and address critical issues impacting job satisfaction and retention

Summary findings

The report highlights several key findings that are crucial for talent acquisition professionals to understand:

  • RN salaries increased by 2.6%, with a median of $80,000, while APRN salaries dropped 4.4% to $117,300, possibly due to a younger respondent pool.
  • The gender pay gap for RNs has narrowed but persists, with male RNs earning a median of $85,000 compared to $80,000 for female RNs.
  • 64% of nurses experienced verbal abuse, and 39% faced intimidation from patients or family members, underscoring the need for improved workplace safety.
  • 17% of nurses said work had a negative effect on their mental health, with younger nurses more likely to report burnout, ethical dilemmas, and compassion fatigue.
  • 23% of nurses are considering leaving the profession, emphasizing the importance of addressing job satisfaction and workplace issues.

Detailed Findings

Salary Trends

  • The median LPN/LVN salary saw a significant 21% increase to $58,000.
  • 40% of nurses who earned certification reported a salary increase.
  • The gender pay gap for RNs has narrowed, but male APRNs/ARNPs earned a median salary $14,500 higher than their female counterparts.

Education and Certification

  • 37% of nurses across all licensures plan to pursue a degree, and 42% of LPNs/LVNs, 51% of RNs, and 68% of APRNs/ARNPs intend to pursue certification.
  • Education can lead to higher salaries, with LPNs/LVNs reporting a $13,482 increase, RNs a $10,000 increase, and APRNs/ARNPs a $40,000 increase after earning certification.

Workplace Violence and Mental Health

  • 31% of nurses were subjected to verbal abuse by colleagues.
  • Younger nurses were more likely to report burnout, ethical dilemmas, compassion fatigue, and concerns about nursing’s effects on their physical and mental health.
  • Top negative factors included dissatisfaction with salary policies, lack of leadership, unmanageable workloads, and unequal work-life balance.

Job Satisfaction and Retention

  • 81% of nurses rated regular merit increases as most important for job satisfaction.
  • Dissatisfaction with management (25%) and better pay (24%) were the top reasons for leaving the last position.
  • Higher pay, flexible scheduling, and better work-life balance were the top motivators to stay in nursing.

Desired Benefits

  • The most desired benefits included bonuses (35%), malpractice insurance (18%), flexible scheduling (18%), and reimbursed continuing education (15%).
  • 59% of nurses wanted fitness stipends, and 41% desired free or reduced-cost mental health counseling services.

In summary, the report underscores the need for competitive compensation, educational opportunities, workplace safety measures, mental health support, and addressing job satisfaction to attract and retain nurses in today’s challenging healthcare environment.

Key demographic differences compared to the 2022 survey:

Younger respondent pool:

  • The median age of nurse respondents was 47 in 2024, down from 53 in 2022.
  • This aligns with data from the National Council of State Boards of Nursing showing the median age of nurses decreased from 52 in 2020 to 47 in 2022.

Higher proportion of LPNs/LVNs:

  • 24% of respondents were LPNs/LVNs in 2024, compared to only 8.3% in 2022.
  • This likely contributed to the lower overall median salary of $73,000 in 2024 versus $78,000 in 2022.

Consistent gender representation:

  • 10% of nurses across all licensures identified as male in both the 2024 and 2022 surveys.
  • However, a higher proportion of male nurses (6%) held an APRN/ARNP license in 2024 compared to female nurses (4%).

Racial/ethnic diversity:

  • The percentage of nurses identifying as white (73%) was similar to U.S. Census data (75.5%) in 2024.
  • However, some racial/ethnic groups like Black or African American (11%) and Hispanic/Latinx (7%) were underrepresented compared to their U.S. population proportions of 13.6% and 19.1%, respectively.

In summary, the 2024 survey had a younger respondent pool with a higher percentage of LPNs/LVNs, which likely impacted the overall salary findings, while maintaining consistent gender representation but revealing some underrepresentation of certain racial/ethnic groups compared to national demographics.

Citations: [1]

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Staff Reporter