Nurses are in high demand, yet depending on where you’re based, your salary may be at or below the national average. Nursing is a noble and rewarding profession, but let’s be real—earning a higher income is always appealing. The good news is that nurses have plenty of opportunities to boost their earnings beyond their base salary or hourly wage.
From picking up extra shifts to exploring side hustles, this guide will show you 15 creative ways to increase your income as a nurse. Read on to learn how to make more money as a nurse this year!
And make sure to explore other side hustles from MoneyLion!
Can a nurse have a side hustle?
Absolutely! Nurses are extremely marketable with their specialized skills and healthcare knowledge. While nursing is demanding work, many nurses successfully take on side gigs or alternative income streams to supplement their earnings from their primary jobs. The key is finding flexible hustles that work around your nursing schedule. You can also consider temporary travel positions, or side hustles unrelated to nursing. Get started with ideas for weekend side hustles, or ways to make an extra $500 a week.
15 ways to earn more money as a nurse
If you’re a nurse, you can earn extra money through side hustles, negotiating your salary, considering a travel position, and other options. Here are 15 ideas to get you started.
1. Negotiate your salary or hourly rate
Don’t just accept the first offer from an employer. Research typical pay rates for your location, experience level, and specialty, then negotiate confidently. Even a couple of extra dollars per hour can add up over a year. If successful, consider putting some of that extra income into a high-yield savings account to make it work even harder for you.
According to the Bureau of Labor Statistics, hourly wages for nurses range from $30.64 to $63.79, with a median salary, as of May 2022, of $41.38. Armed with these numbers and your experience, you may be able to negotiate a higher salary.
Consider IRAs, Roth IRAs, a 401(k), 529 plans and high-yield savings accounts to protect your wealth and plan for the future.
MoneyLion offers a convenient marketplace to compare high-yield savings accounts from our trusted partners that could help grow your money.
2. Work overtime shifts or pick up extra shifts
One of the easiest ways for nurses to earn supplemental income is to work extra shifts beyond their regular schedule when available. Overtime pay rates are generally time-and-a-half. According to the Bureau of Labor Statistics, the average hourly rate for an RN (registered nurse) is $41.38 as of 2022, so grabbing some OT shifts can really pay off, with time-and-a-half rates of over $60 an hour.
3. Teach nursing courses
Hospitals, nursing schools, and community colleges frequently need instructors for nursing programs and courses. Your nursing expertise is extremely valuable in these teaching roles. You can also consider tutoring for nursing students or online education. According to PayScale, nursing instructors earn an average base pay of $68,821 per year, with total pay between $51,000 and $103,000.
4. Join a nursing agency for temporary assignments
Nursing staffing agencies offer per diem and temporary nursing assignments that tend to pay very well. This allows you to pick up short-term gigs around your regular job’s schedule. Indeed.com reports that travel nurses earn an average of $2,091 per week, which means you could try to work on temporary assignments even if you’re not interested in becoming a full-time travel nurse.
5. Become a travel nurse
Similarly, working as a travel nurse allows you to take multi-month assignments around the country while getting premium pay rates, housing stipends, and travel reimbursements. Nurse.org estimates travel nurses make an average of $105,021 or $50 per hour.
However, Nurse Journal suggests travel nurses could earn $3,000 to $7,000 per week for a 36-hour work week. Certain specialties can also command a higher rate. For example, a surgical travel nurse could earn an average annual salary of $120,699 or $58 per hour.
6. Work in a specialty area with higher pay
Some nursing specialties, such as nurse anesthetists, nurse midwives, and nurses in critical care, tend to earn significantly higher salaries. For example, the average nurse anesthetist makes a median salary of $212,650 per year or $102.98 per hour, according to the Bureau of Labor Statistics.
7. Start freelance nurse writing
If you have a flair for writing, consider freelancing for medical publications, textbook companies, or blogs related to healthcare and nursing. Writers with nursing expertise are in high demand. Freelance nurses on Upwork report earning $30 or more per hour. Some nurse writers report earning up to $115,000.
8. Participate in medical research studies or clinical trials
Medical researchers frequently need nurses and other healthcare professionals to help conduct clinical trials and studies. This can provide a nice stream of extra income for a few hours of your time each week or month. PayScale estimates the average clinical research nurse earns $76,179.
If you can’t participate in paid studies or trials, there are alternative paid online surveys you could take for some extra cash. You can find 50 ideas to make money online here.
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9. Become a nurse vlogger
In today’s digital world, many nurses have turned to creating social media content in the form of blogs, YouTube channels, podcasts, and more. This can be an additional income stream in which you document your life as a nurse, offer medical tips, or share behind-the-scenes insight into your profession.
While monetization takes time to build an audience, popular nurse influencers can earn decent money through sponsorships, affiliate marketing, and other revenue streams.
10. Start a side business related to healthcare
From opening a medical supplies store or a health or wellness coaching business to offering consulting services or creating digital products, there are many potential business ideas that intersect with nursing and healthcare. The earning potential is unlimited if you strike the right concept. Another advantage of starting your own business is you can build it up gradually in your free time until it becomes a full-time income.
11. Take on per diem or PRN positions
Per diem (by the day) and PRN (pro re nata or as needed) nursing roles allow you to pick up shift work around your main job’s schedule. These positions tend to offer higher pay rates than standard full-time roles. According to Indeed.com, PRN RNs can earn $43 or more per hour.
12. Offer private nursing services
You could offer your professional nursing skills independently by providing in-home care, assistance for new moms, elderly care services, and more. This can give you the freedom to set your own hours, take care of your patients long-term, and give back to your community. According to Indeed.com, private duty nurses charge an average of $29 per hour.
13. Work in telehealth or telemedicine
With digital healthcare delivery growing rapidly, telehealth nursing jobs are booming and many opportunities allow you to work remotely. If you want to work from home or set hours around your family’s schedule, telehealth can offer an excellent career opportunity. It can also be a way to make more money in the evenings or on weekends. PayScale reports an average telehealth RN earns $35 per hour.
14. Provide nursing services in alternative settings
The demand for nurses across industries is high. From schools to summer camps, correctional facilities, ambulatory surgery centers, corporate settings and more, nurses are needed in many alternative care settings. Think beyond hospitals and consider marketing your skills to corporations, schools, correctional facilities, or sports organizations. These roles can pay very well for your specialized skill set.
15. Invest in real estate or stocks with your nursing income
Finally, why not put some of your hard-earned nursing income to work through investing? Avenues like rental real estate, dividend stocks, and other investment vehicles can generate passive income streams over time. Consider a diversified portfolio that balances risk for your goals. Even though investing is subject to risk of loss, including loss of principal, but low-cost index funds, bonds, and ETFs can be a good starting point.
MoneyLion offers a fully managed portfolio that requires no management fees or minimums.
Building multiple income streams as a nurse
As a nurse, you have valuable skills that are highly in demand. You can explore ways to boost your earnings through side gigs, alternative roles, and investing some of your income. With such versatile, in-demand skills, you have an abundance of creative hustles at your fingertips to increase your take-home pay, adapt your job to your schedule, and prioritize earning when it works for you. Need more ideas? Check out these 15 side hustles for 2024.
FAQ
Where do RNs make the most money?
According to the Bureau of Labor Statistics, the top-paying states for registered nurses are California, Hawaii, Washington, Oregon, and Alaska. However, there are also high-paying metropolitan areas in other states, such as Boston, New York, Houston, and LA.
What state pays nurses the lowest?
According to BLS data, Mississippi, Iowa, Alabama, Arkansas, and North and South Dakota are some of the lowest-paying states for RNs. Missouri, Tennessee, and West Virginia also have average nurse salaries between $39,130, and $79,780.
How can an RN make money from home?
Some options for RNs to earn money from home include telehealth or telemedicine jobs, freelance writing about nursing and healthcare topics, teaching online courses, transcription services, or starting an online business in the healthcare or wellness space. You can also start your home-based nursing practice.
How can a nurse make passive income?
Nurses can build passive income streams through real estate investing or investing in dividend-paying stocks or funds. You can also consider building an audience with blogs or videos to earn ad revenue, writing and self-publishing ebooks or courses, and any other business idea you’re passionate about.
Can you live comfortably as an RN?
Most registered nurses can live comfortably on their salaries, with the median RN salary of $86,070 per year according to the BLS. However, exact salaries and costs of living vary significantly based on location, experience level, and specialty.
