Great nurses are harder to find than ever — the nursing shortage is in full swing and is only expected to climb. According to data from Modern Healthcare, the shortage is expected to continue at least until 2025. But the problem actually puts you in a good position, because the nursing shortage might very well have a positive impact on your paycheck.
What Exactly is the Nursing Shortage?
The United States is currently in the midst of a shortage of Registered Nurses (RNs) that is only predicted to get worse. A few factors contribute to this. One is the advancing age of the population — the Baby Boomer generation is now getting to the age where they need advanced care, and the sheer number of those individuals outweighs the number of nurses that are available.
Many nurses themselves are reaching the age of retirement, with the Health Resources and Services Administration estimating that upwards of 1 million nurses will reach retirement age in the next decade or so. Compounding the issue is the fact that nursing school enrollment isn’t growing fast enough, as schools turn away more and more candidates thanks to faculty shortages and budget constraints.
How Can the Nursing Shortage Impact Your Pay?
The bright side of the nursing shortage is that there are more opportunities right now for RNs than ever, and the nursing employment rate is expected to grow in the next several years as things turn start to around. The current climate in the world of nursing and healthcare means that many nurses can command higher salaries — and that includes you.
How Can You Take Advantage of the Nursing Shortage?
If you’re considering a new job or are looking to advance at your current place of employment, you can use the nursing shortage to your advantage. Simply put, your services are in high demand, so you can negotiate for a higher level of compensation. Even recent nursing school graduates can negotiate for higher starting salaries than they may have been able to in the past. And for experienced RNs, the possibility of securing a high salary when negotiating pay is very good.
As the nursing shortage continues and demand for skilled nursing professionals goes up, you’re poised to take advantage of the trend. Contact BOS Medical if you’re ready to land your dream job and secure the compensation you deserve!
