Is An MSN Degree Worth It? | Salary & Guide 2024
Considering getting your MSN degree? We dig into the pros and cons of an MSN so you can decide if it's the right path for you!
What is an MSN Degree?
An MSN degree is a Master of Science in Nursing, which is an advanced nursing degree. Nurses can earn a degree in as little as two years of full-time study or upwards of five years if completing a program part-time.
MSN degrees are required for advanced practice registered nursing positions such as an NP, CNS, or CNM.
How To Get Your Master of Science in Nursing (MSN) Degree
Master's degrees in nursing programs are similar to other master’s level programs in that they usually take about two years to complete (if you’re taking a full course load, that is).
What makes nursing programs unique is that there are a couple of different routes toward earning a master’s degree.
Popular Online Master of Science in Nursing (MSN) Programs
Earn a valuable nursing credential at Purdue Global’s School of Nursing. Expand your expertise and prepare to take on leadership and independent practice opportunities. Complete your courses online, on your schedule.
CCNE
Online
RN Required
Enrollment: Nationwide, but certain programs have state restrictions. Check with Purdue for details.
GCU's College of Nursing and Health Care Professions has a nearly 35-year tradition of preparing students to fill evolving healthcare roles as highly qualified professionals.
CCNE
Online
RN Required
Enrollment: Nationwide
Earn your nursing degree from one of the largest nursing education providers in the U.S. Walden University’s BSN, MSN, post-master’s APRN certificate, and DNP programs are accredited by the Commission on Collegiate Nursing Education (CCNE). Get enhanced practicum support with our Practicum Pledge.
CCNE
Online
RN Required
Enrollment: Nationwide, excluding NY, RI and CT. Certain programs have additional state restrictions. Check with Walden for details.
WGU's award-winning online programs are created to help you succeed while graduating faster and with less debt. WGU is a CCNE accredited, nonprofit university offering nursing bachelor's and master's degrees.
CCNE
Online
RN Required
Enrollment: Nationwide
Types of MSN Degrees
1. Direct-Entry MSN
Direct-entry MSN programs are for applicants with a bachelor’s degree in a non-nursing field and no nursing experience. This path takes you through entry-level nursing coursework first.
2. BSN-MSN
The most traditional way to earn your master’s degree is after already completing a bachelor’s degree program in nursing (BSN).
To go this route, you earn your Bachelor’s in Nursing (BSN) first, then enroll in a master’s program. BSN to MSN programs take around two years full-time. Most programs do have part-time options available. This might be a better fit for individuals who need to work or have family obligations. The MSN coursework can include training to specialize as a nurse practitioner or other advanced practice role or be a general MSN without additional licensing.
3. RN-MSN
For applicants with an ADN or a diploma RN, there are RN-to-MSN programs that help nurses who do not have a bachelor’s degree in nursing or another field. With an RN-to-MSN bridge program, you can pursue a master’s without earning a bachelor’s degree first. These programs usually take a bit longer and might be more intensive since there is more material to cover.
All MSN programs cover both general nursing topics like anatomy and pharmacology, along with coursework in a variety of nursing specializations, depending on which track you choose to pursue.
You will also have to complete a certain number of clinical rotation hours.
When choosing an MSN program as a means to earn an advanced nursing certification, make sure that it will satisfy the requirements so you can sit for the corresponding licensing exams.
>> Show Me Online MSN Programs
4. Bridge RN-to-MSN
This is for RNs with a two-year degree in nursing and a 4-year bachelor's degree in a non-nursing field.
Pros and Cons of Getting an MSN Degree
Pros
- Career opportunities
- Higher salary potential
- A variety of program options
- Knowledge and experience gained
- Leadership opportunities
- Independence and autonomy
Cons
- Programs are expensive
- Advanced nursing programs can be difficult
- Coursework and clinicals are time-consuming
- Prerequisites may be required
- Competitiveness
- Stress
- Increased responsibilities
Pros
Now that you have an idea of what an MSN program entails, here are some of the biggest reasons why people choose to complete them.
1. An MSN can open up new career doors
Besides the fact that some nursing specializations require a master’s degree, certain positions at prestigious hospitals and healthcare organizations may give preference to candidates who have their MSN as well.
If you have any intentions of focusing on one type of nursing, like nursing informatics or nurse practitioner, or taking on a nursing leadership role in a hospital, completing an MSN is probably in your best interest.
The following are some advanced practice roles that require an MSN
- Nurse Practitioner
- Nurse Educator
- Clinical Nurse Specialist
- Nurse Anesthetist
- Nurse Midwife
2. You have the potential to earn a higher salary with an advanced degree
As mentioned above, some advanced nursing practices do require an MSN, but they also have significantly higher salaries than what an RN typically earns.
For example, nurse practitioners earned a median salary of $126,260 as of May 2023, according to the BLS, significantly higher than an average RN salary.
3. There are many program options
From part-time programs to accelerated ones and even 1-year online MSN programs, there are more choices than ever for earning an advanced nursing degree. Students can choose full or part-time in some cases and customize their course schedules thanks to schools catering more to adult students and technology that allows for remote and distance learning. This is especially helpful for people who would like to continue working while they go to school.
4. You’ll gain a deeper knowledge of a specific area of nursing
Some advanced nursing practices may require learning an advanced skill set than what typical RNs are exposed to, whether it’s working exclusively with cardiac patients, in a neonatal unit, or as a forensic nurse. MSN programs often allow students to choose a specialty track so they go more in-depth with their studies and become experts in their field.
Popular Online Master of Science in Nursing (MSN) Programs
Earn a valuable nursing credential at Purdue Global’s School of Nursing. Expand your expertise and prepare to take on leadership and independent practice opportunities. Complete your courses online, on your schedule.
CCNE
Online
RN Required
Enrollment: Nationwide, but certain programs have state restrictions. Check with Purdue for details.
GCU's College of Nursing and Health Care Professions has a nearly 35-year tradition of preparing students to fill evolving healthcare roles as highly qualified professionals.
CCNE
RN Required
Enrollment: Nationwide
Earn your nursing degree from one of the largest nursing education providers in the U.S. Walden University’s BSN, MSN, post-master’s APRN certificate, and DNP programs are accredited by the Commission on Collegiate Nursing Education (CCNE). Get enhanced practicum support with our Practicum Pledge.
CCNE
Online
RN Required
Enrollment: Nationwide, excluding NY, RI and CT. Certain programs have additional state restrictions. Check with Walden for details.
WGU's award-winning online programs are created to help you succeed while graduating faster and with less debt. WGU is a CCNE accredited, nonprofit university offering nursing bachelor's and master's degrees.
CCNE
Online
RN Required
Enrollment: Nationwide
Cons
If MSN programs were simple and free, everyone would get one. But, like any other educational pursuit, there are some potential obstacles to consider.
1. MSN programs are expensive
There’s no avoiding the fact that advanced degrees are a big investment. Even though they have the potential to pay for themselves in a few years, coming up with the money to pay tuition or borrowing funds is sometimes a deterrent.
Fortune.com estimates that an online master’s degree in nursing can cost somewhere between $35,000 and $70,000, and even up to $100,000.
Ultimately, the cost depends on several factors, including if the MSN program is through a private or public institution and the degree earned. For example, an NP program will cost more than an education degree.
2. Advanced degrees in nursing are tough
Master’s programs are challenging – there’s no doubt about that. But even more so for nurses who are continuing to work and juggle family responsibilities as they take classes. It can certainly be done, as thousands of students prove each year, but it’s not an endeavor to be taken lightly.
3. Coursework and clinical hours are time-consuming
Even if you decide to take your time or go the online MSN route, you should still be prepared to dedicate a significant number of hours per week to your studies and/or clinical requirements. Doing so will likely require some shuffling around of responsibilities and a strong support network at home and work.
4. You may need prerequisites
Some MSN programs have prerequisites required for enrollment, such as a recent statistics class or experience as a nurse. It’s important to check to see how much bedside experience is needed for admittance into a program before applying.
How Long Are MSN Degrees?
MSN degree programs vary in length depending on the starting degree and specialization.
Students completing an MSN program full-time may be able to graduate in as little as 15 to 24 months. But most MSN programs can be completed in 24 to 36 months.
Part-time options are usually available, and all programs require completion within five years.
Direct Entry MSN Degree Length
Direct entry MSN programs can be completed in 24 to 36 months, depending on the degree, clinical hours, and coursework.
ADN to MSN Degree Length
ADN to MSN bridge programs typically require 24 to 36 months of full-time study. Students will have up to five years to complete the program.
BSN to MSN Degree Length
Depending on the type of MSN degree, BSN to MSN programs can be completed in as little as 16 months. Nurse educator programs take roughly 15 to 24 months, while an NP program might take closer to 24 to 30 months.
Is a Master of Science in Nursing Right For You?
An MSN degree is a good idea for those who want to pursue the following:
- Advanced practice areas such as
- Nurse leadership, such as a nurse administrator role
- Education-related roles at the postsecondary level, such as a nurse educator
- Research-related roles, such as in clinical trials and case studies
- Legal consultation practice within and outside of the hospital setting
- Other advanced career opportunities with higher pay
>> Show Me Online MSN Programs
How Much More Will I Earn With An MSN?
The exact figure will vary considerably based on your specialty, employment setting, and full- or part-time employment.
It’s not uncommon for a nurse with an MSN to earn more than $100,000 per year. According to the U.S. Bureau of Labor Statistics, some advanced practice registered nurses, like nurse anesthetists, nurse midwives, and nurse practitioners, earn an average of $129,480 annually.
Popular Online Master of Science in Nursing (MSN) Programs
Earn a valuable nursing credential at Purdue Global’s School of Nursing. Expand your expertise and prepare to take on leadership and independent practice opportunities. Complete your courses online, on your schedule.
CCNE
Online
RN Required
Enrollment: Nationwide, but certain programs have state restrictions. Check with Purdue for details.
GCU's College of Nursing and Health Care Professions has a nearly 35-year tradition of preparing students to fill evolving healthcare roles as highly qualified professionals.
CCNE
RN Required
Enrollment: Nationwide
Earn your nursing degree from one of the largest nursing education providers in the U.S. Walden University’s BSN, MSN, post-master’s APRN certificate, and DNP programs are accredited by the Commission on Collegiate Nursing Education (CCNE). Get enhanced practicum support with our Practicum Pledge.
CCNE
Online
RN Required
Enrollment: Nationwide, excluding NY, RI and CT. Certain programs have additional state restrictions. Check with Walden for details.
WGU's award-winning online programs are created to help you succeed while graduating faster and with less debt. WGU is a CCNE accredited, nonprofit university offering nursing bachelor's and master's degrees.
CCNE
Online
RN Required
Enrollment: Nationwide
Making Your Choice
Getting your MSN is certainly an option for nurses who want to change the trajectory of their careers, earn more, or specialize. But by no means do you have to feel pressure to get one right away.
Many nurses wait until they are in a good place financially or have more time to dedicate to a program of study before they head back to the classroom. If you’re considering an MSN, it is a big decision, so think through the pros and cons to decide if it’s a good professional move for you.
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