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Salary Outlook for Psychiatric Nurse Practitioners

A psychiatric nurse practitioner is an advanced practice nurse who provides for the mental health needs of individual patients, families, and groups. Psychiatric nurse practitioners assess and diagnose their patients’ mental health issues, offer psychotherapy services, and prescribe medication.

They also treat patients with diagnosed psychiatric disorders and people with family histories that make them more likely to have a mental illness. These nurse practitioners also educate their patients and families about mental health problems and steps they can take to improve their care.

Typical duties for psychiatric nurse practitioners are:

  • Assessing and diagnosing mental health issues such as anxiety, depression, substance abuse, dementia, and substance abuse
  • Record patient’s verbal history
  • Do a physical examination
  • Order diagnostic tests
  • Develop and manage treatment plan
  • Prescribe medication and psychotherapy as needed

Psychiatric nurse practitioners can work in private practice, behavioral treatment facilities, companies, residential treatment facilities, and public health agencies.

Are you interested in working as a psychiatric nurse practitioner? You need to earn your Master of Science in Nursing with a specialty in psychiatric medicine. Before you obtain your MSN degree, it is essential to know the salary potential in the field. Below is detailed information.

Salary Outlook for Psychiatric Nurse Practitioners

Several websites give detailed salary information for psychiatric and related nurse practitioners. They are listed below.

Bureau of Labor Statistics (BLS)

BLS reports the median salary for nurse practitioners is $109,820, with a range between $82,400 and $184,000. The top industries for these nursing professionals in terms of payment are:

  • Hospitals: $122,400
  • Outpatient care centers: $118,500
  • Doctors’ offices: $113,000
  • Offices of other healthcare practitioners: $112,500
  • Educational services: $108,500

BLS also provides mean wage data for all nurse practitioners. These industries have the highest salaries for nurse practitioners:

  • Outpatient care centers: $119,920
  • General medical and surgical hospitals: $115,700
  • Doctors’ offices: $108,900
  • Offices of other healthcare practitioners: $108,600
  • Colleges, universities, and professional schools: $105,300

Also, these industries have relatively few nurse practitioner jobs, but the mean annual wages are high:

  • Community food and housing, and emergency and other relief services: $139,100
  • Religious organizations: $128,700
  • Residential intellectual and developmental disability, mental health, and substance abuse facilities: $123,900
  • Grantmaking and giving services: $123,700

Payscale.com

Payscale.com reports the average psychiatric nurse practitioner’s salary is $107,936, with a range between $85,000 and $141,000. Below are some reported wages for these healthcare workers:

  • Veterans Administration: $122,000
  • Centerstone: $98,000
  • Daymark Recovery Services: $108,000
  • Behavioral Health Group: $105,000
  • Pine Rest Christian Mental Health Services: $100,000
  • Kaiser Permanente: $120,000
  • Community Health Systems: $142,000

Salaries for these healthcare professionals rise with experience:

  • Less than one year of experience: $100,100
  • One to four years of experience: $105,600
  • Five to nine years of experience: $110,800
  • 10 to 19 years of experience: $117,000
  • 20 years and more of experience: $114,400

Salaries can be higher or lower based on location:

  • Phoenix: +30%
  • Los Angeles: +24%
  • New York City: +13%
  • Boston: +9%
  • Dallas: +8%
  • Atlanta: -7%
  • Nashville: -14%

Salary.com

This source reports the average nurse practitioner in this field earns a salary of $107,100 with a range between $95,700 and $117,000.

Indeed.com

This website reports the average salary for psychiatric nurse practitioners ranges between $81,400 and $124,700.

Ziprecruiter.com

Ziprecruiter.com reports the average salary for this profession is $123,500, with a range between $43,000 and $191,000. Most NPs in this specialty earn between $101,500 and $141,500.

Job Outlook for Pediatric Nurse Practitioners

Employment for nurse practitioners in all specialties will increase by 26% through 2028, which i is much faster than average. Growth is accelerating quickly because of the higher demand for healthcare services in an aging population. Baby boomers are entering retirement, and they want to have long, productive years ahead of them, so they want to have more healthcare services.

There is also more need for preventative medicine so people can prevent illness instead of treating it.

Nurse practitioners are popular for health systems to hire because they cost a fraction of a doctor’s salary and offer a similar level of care. States are changing laws regarding what nurse practitioners can do, and NPs will be able to provide more services in the future with less physician supervision. This fact should increase the demand for all nurse practitioners.

Summary

There is an extraordinarily high demand for nurse practitioners across the country, which is unlikely to change soon. Plus, the salaries for this profession usually exceed $100,000. Professionals in this field often have their choice of jobs and can negotiate for the best salary and benefits. It is a worthwhile field to work in if you want to practice medicine without going through eight to 10 years of medical school.

References

PSYD, PHD, MASTERS PROGRAMS