Are you earning the salary you want and deserve?
Forbes recently wrote an article comparing the average salary for NPs for each state. You can access the article here.
If you think that you're being underpaid, chances are you probably are. Just compare what you're making with the average salary list on Forbes to use as a comparison. Just remember Forbes did not group by speciality, so you'll have to take that into consideration. Unfortunately, I have many NP friends who are not receiving the compensation they desire or deserve and this is really a shame since they are taking such excellent care of their patients.
Starting off with a low salary amounts to thousands of dollars lost over the course of your career. You're not only missing out on salary pay, but 401K matches, and perhaps higher bonuses. I've always been a great salary negotiator and have asked for what I want, usually getting it. Most recently I was able to negotiate within five minutes a 7,000$ increase in salary for a new job I had just accepted.
So what can you do if you think you're being underpaid? I talk about how to negotiate a higher salary within The Nurse Practitioner Mentorship Project. You can view this information by joining today! However, I'll share a few tips that I've used to help me get that salary I want.
Research the market. Know how much other NPs with your speciality and experience are making. Use that as leverage when negotiating.
Ask for what you want. Many people fear that they will sound greedy by asking for more money. However, hiring managers are used to negations, and many expect you to do so.
Be prepared to negotiate. If they offer you a salary which is somewhat less than what you desire, can this be made up by negotiating extra perks such as extra vacation days?
If the salary is too low, consider walking away. This depends on what type of financial situation you are in, and some may not be able to do so. If you do turn down a low ball offer keep searching for positions that will compensate you with the salary you desire.
Remember, salary is not fixed, this is negotiable. It's up to you to do everything possible to get the money you deserve!