How to Calculate Compensation for NPs, PAs, CRNAs,& CNS

How to Calculate Your Compensation for NPs, PAs, CRNAs, and CNS

Inspired by Jason Fisher-Beck PA-C

To negotiate a raise you need to calculate your total compensation. Total compensation is Salary + Benefits.  It is helpful to understand your W2, it is not uncommon for NPs, PAs, CRNAs and CNS to not know how much they make.  It is even harder to understand the value of your benefits.  Of Salary Survey Respondents from the 2020 APP Salary Guide:

1. 75% have a 401K
2. 84% have an average amount of retirement funds matched by employers of $9,000
3. 11% are matched at $10,000- $20,0005% are matched at greater than $20,000
4. 59% receive an annual salary increase
5. 78% receive funds for continuing education Continuing education funds range from $500 to $25,000, with 40% of APPs receiving $1,500-$2,500, 13% receive $500-1,000, 11% between $3,000 and 5,000.
6. 71% have healthcare benefits
7. 78% received life and disability insurance
8. 28% have protected time
9. 38% have some sort of funds for tuition for higher education

Other benefits to consider when NPs, PAs, CRNAs, and CNS Calculate their Compensation:

1. Licensing for state RN, APRN, PA,
2. DEA Certifications BLS, PAL, ACLS
3. Relocation
4. Sign-on bonus
5. Education reimbursement
6. Amount of annual increase

To calculate compensation, NPs, PAs, CRNAs, and CNS you want to understand the total value of your salary and benefits. If you do not receive any or some of these benefits you can negotiate for additional salary to offset the loss of benefits. Total  calculated for 20%, 25%, and 30% of total compensation allocated to benefits. For a Salary of:

NPs, PAs, CRNAs, and CNS Calculate Compensation with these Benefits Calculator and Resources:

Household Health Spending Calculator 2019 Employer Health Benefits Survey: Review data to understand the increase in healthcare cost Paycheck Impact Calculator: Evaluate the impact of taxes and retirement contribution on pay What is a 401k: Understanding your 401k. 401K for Dummies, Fidelity job change calculator: evaluate the impact of of changing jobs on finances What is my total compensation package worth? How to read your W2.

This article was originally published on Melnic. It was recently acquired by DirectShifts.

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