Labor Market Pulse » Novice Nurse Insights: 2008 Benefits and Compensation

Novice Nurse Insights: 2008 Benefits and Compensation

Salary Information for Novice Nurses

Novice nurses working outside the Medical Center earned higher annual salaries on average compared to novice nurses in the Medical Center; interesting compared to experienced RNs because we observed the opposite (see Figure 9)
The median annual salary for novice nurses working within the Medical Center in 2008 was $50,000, compared to $52,000 for novice nurses working outside the Medical Center
Non-Medical Center novice nurses were more likely to negotiate starting salary; 0% of novice nurses in the Medical Center reported successfully negotiating starting salary

Figure 21

Figure 22

Sign-on Bonuses and Financial Incentives at Time of Hire for Novice Nurses

Novice nurses working outside the Medical Center were more likely to receive a signing bonus, 28% of survey respondents compared to 0% of Medical Center novice nurse survey respondents
The average reported sign-on award was $2,640 for novice nurses working outside the Medical Center
Financial incentives at time of hire were most commonly traditional sign-on bonuses, rather than relocation assistance or unit differentials

Figure 23

Figure 24

Paid Time Off for Novice Nurses

Mirroring the trends observed in compensation, novice nurses working outside the Medical Center received slightly more paid time off on average than those working in the Medical Center
22% of Medical Center novice nurses receive only one week (5 business days) of paid time off
37% of Non-Medical Center novice nurses receive three weeks or more (15+ business days) of paid time off

Figure 25

Soft Benefits Received by Novice Nurses

No novice nurses reported having access to part time scheduling options
Many institutions offer standard soft benefits, such as discounted parking and a cafeteria discount
Flexible scheduling is also often offered, typically in the form of self scheduling and for some RNs, being able to work 8, 10, or 12 hour shifts

Figure 26

Most Important Benefits to Novice Nurses

Among both Medical Center and Non-Medical Center novice nurses, salary was the most important benefit, particularly in light of the high debt burden that many carry
An excellent benefits package ranked number two, indicating that this group of younger nurses may not be as different as previous generations
Scheduling preferences and flexibility were also very important to novice nurses

Figure 27

Methodology and Data Presentation

Invitations to participate in Labor Market Pulse’s 2008 Houston RN Workforce Survey were distributed directly by research contributors and council members via e-mail. The survey was conducted and data collected using an industry standard online application. Please see the “Acknowledgements” section of this report for a complete list of Houston’s LMP research contributors and research council members.

Employers were asked to distribute the survey to recent applicants and new hires. LMP believes The University of Texas MD Anderson Cancer Center was the only employer to do so. In future reports, LMP anticipates broader employer participation.

LMP analyzed all data in aggregate as well separately by whether or not respondents worked in the Medical Center. When data is presented in the aggregate, there were no meaningful differences between those two groups (unless otherwise noted).

2008 Houston RN Workforce Survey Insights

Table of Contents