The state of nurse practitioner compensation in 2024: Trends and insights
February 05, 2025)
The 2024 APRN Compensation Report surveyed nearly 3,000 advanced practice registered nurses, including 1,788 nurse practitioners (NPs). This comprehensive report offers valuable insights into how NP salaries have evolved, their satisfaction levels, and key factors driving compensation trends.
NP salary growth
NP compensation saw a significant boost in 2023, with average earnings increasing by 14% year over year — rising to $135,000 in 2023 compared to $121,000 in 2022.
For most NPs, base salary made up the majority of total earnings. However, bonuses, productivity pay, and overtime also contributed to their overall compensation, providing opportunities for many to increase their income beyond base pay.
NP salaries in 2023 — base and total pay
When surveyed about fairness in compensation, a slight majority of NPs (52%) reported feeling fairly compensated, a figure consistent with previous years. This modest satisfaction rate suggests progress but also highlights room for improvement in how NP contributions are valued.
Do NPs believe they are fairly paid?
How are NPs earning their pay?
The report highlights differences in how NPs are compensated based on their employment arrangements. Salaried NPs reported earning an average of $131,000 annually, while those paid hourly averaged $137,000. The flexibility of hourly compensation often provides opportunities for additional shifts, contributing to higher earnings.
Supplementing regular earnings is also common among NPs. Over half of APRNs reported working additional shifts, weekends, or holidays or taking on roles as locum tenens or independent contractors. This approach increases income and allows NPs to diversify their professional experiences.
Sophia Khawly, ARNP, MSN, had been working as a full-time nurse practitioner for three years in South Florida when she realized she needed a change. She looked to locums as a means of picking up outside work and broadening her professional experience.
I was complacent at work and wanted to try something new. I had heard about locum tenens but was afraid to quit my secure job and leave my family and friends behind. I decided to start by trying locums locally.
“I was complacent at work and wanted to try something new,” says Khawly. “I had heard about locum tenens but was afraid to quit my secure job and leave my family and friends behind. I decided to start by trying locums locally. I felt comfortable jumping in after only a brief training and liked doing something new. I recognized then that locum tenens was for me.”
Setting, education, and experience impact compensation
Where and how NPs practice significantly impact earnings. On average, NPs in hospital-based inpatient care earned more than those in outpatient clinics, urgent care centers, or community health settings.
Is NP pay impacted by practice setting?
Education also plays a role. NPs with a doctorate earned an average of $136,000, a 7% increase from the previous year. Those with a master’s degree averaged $132,000, marking a 4% year-over-year growth.
Years of experience further influenced pay, with APRNs in practice for more than 10 years earning an average of $152,000-154,000 compared to an average of $138,000 for those with 6-10 years in the field.
How is APRN pay affected by years in practice?
Gender pay gap persists
Despite overall NP salary increases, a gender pay gap remains. Male NPs earned an average of $143,000 annually, compared to $131,000 for female NPs. The gap is commensurate with the past several years’ reports, underscoring the need for continued efforts toward pay equity in the profession.
Does gender affect NP pay?
Regional impact on earning potential and other practice considerations
Geography also has the potential to impact earnings. APRNs in the Pacific region reported the highest average salaries at $170,000, while those in the East South Central region earned the least, at $143,000. When evaluating comparative pay, cost of living differences in these regions should also be carefully considered, as higher earnings may not always translate to greater purchasing power.
Does location affect NP pay?
Experts attribute the Pacific region’s higher pay rates to expanded practice authority in states like California, Oregon, Hawaii, and Washington. This autonomy enables NPs to take on greater responsibilities, increasing their value and compensation.
For Khawly, Washington’s full practice autonomy was a significant draw when considering locum tenens assignments.
“My first locum tenens job rejuvenated my passion for medicine,” says Khawly. “The site itself was very organized. The medical assistants were autonomous and made my job easier. My care team helped with patient flow, such as immunizations and inputting patients’ health screenings in our EHR. As a result, I could spend more time with the patients and offer patient teaching to such a vulnerable population. I felt my work become more rewarding, and I started to look forward to going to work again.”
Strategic steps for NP career growth
As the demand for skilled NPs continues to rise, those who strategically navigate their education, certifications, and work settings benefit the most — professionally and financially. Whether pursuing advanced degrees, specialized certifications, or exploring flexible work arrangements like locum tenens, there are numerous pathways to success in this dynamic field.
Ready to take your NP career to the next level? CompHealth can help you achieve your goals. Call us today at 800.453.3030 or explore current NP job opportunities.
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