Industry Outlook:
NURSING
The nursing industry encompasses a diverse group of health care professionals, including registered nurses, licensed practical nurses, licensed vocational nurses, and nurse practitioners, who are trained to care for individuals, families, and communities to promote and maintain health, prevent illness, and aid during times of illness and recovery.
Nurses work in various health care settings, including hospitals, clinics, nursing homes, schools, home health care, and community health organizations. Nurses contribute significantly to the health and well-being of individuals and communities. They interact closely with patients, playing a crucial role in advocating for patients’ rights, ensuring the quality of care, and facilitating communication between patients and other health care professionals.
Future of the Industry
Projected Growth Rate of the Nursing Industry
Employment of registered nurses is projected to grow 6% from 2022 to 2032, driven by factors such as an aging population, increased health care needs, and global efforts to enhance access to health care. Nurses who are adept at using and adapting to new technologies may be in high demand. The scope of nursing practice has expanded with the growth of advanced practice roles, such as nurse practitioners and nurse anesthetists. These professionals often take on responsibilities traditionally held by physicians, contributing to increased demand for nursing expertise.
Annual Wage of Registered Nurses
The median annual wage for registered nurses was $81,220 in May 2022.
According to the Bureau of Labor Statistics, the lowest 10% earned less than $61,250 and the highest 10% earned more than $129,400. The top industry for nursing professionals is government, followed by hospitals at the public and private levels.
States with the Largest Projected Nursing Employment Growth
According to Nursejournal.org, there are several factors that will contribute to the increase in nursing employment growth between 2019 and 2029, including demographics, health care reform, and changes in the nursing profession. More aging citizens will seek primary and preventative health care services, causing an increase in the need for nurses. At the same time, more than 86% of nurses over the age of 55 planned to retire from 2019 through 2024. This will drain the workforce of experienced professionals and cause a demand for new nurses. In addition to the states shown at right, additional job growth is expected in Nevada (22.3%), Maryland (21.7%), Washington (20.5%), Delaware (20%) and Idaho (19.9%).
Enter the Industry
Common Degrees for Nursing Professionals
Bachelor’s Degree
Associate Degree
Master’s Degree
Doctoral Degree
According to the American Association of Colleges of Nursing, as of 2022, 71.7% of the nursing workforce earned a bachelor’s degree or higher degree. The current demand for nurses with master’s and doctoral degrees to fill positions in advanced practices, clinical specialties, teaching, and research roles continues to increase.
Get Your Degree with Excelsior
Go beyond the calling to care to find your passion and earn your associate, bachelor’s, or master’s degree in nursing at Excelsior University. Specifically tailored for working nurses, our online nursing degree programs are accredited, led by supportive faculty, and designed to help you succeed in your career.
Wherever you are in your nursing career or how far you are on the path to reaching your education goals, a nursing degree from Excelsior University will give you the knowledge and confidence you need to move forward.
Prepare for the next step in your career as well as the NCLEX-RN with an associate degree in nursing, expand your career options with a bachelor’s degree program especially for registered nurses, or prepare for nursing leadership roles with a master’s degree in nursing education, nursing informatics, or nursing leadership and administration of health care systems.
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Take the Next Steps
If you’re interested in learning more about Excelsior University’s online nursing programs, contact Excelsior to request more information. No matter where you are on your education journey, we’re here to help you get to the finish line.
