Labor Market Pulse » Nursing Student Insights: 2008 Benefits and Compensation Expectations

Nursing Student Insights: 2008 Benefits and Compensation Expectations

Salary Expectations for Nursing Students

Nursing students indicated an expected median salary upon graduation of $55,000 annually
Approximately 75% of surveyed nursing students are expecting to earn more on an annual basis than the average salary of surveyed novice nurses

Figure 31

Sign-on Award Expectations for Nursing Students

55% of survey nursing students indicated that they are expecting a sign-on bonus or other financial incentive at time of hire for their first nursing position
These students are expecting a sign-on award in the form of a sign-on bonus or loan forgiveness with a median value of $5,000
Given 13% of surveyed novice nurses received a sign-on award, with an average value of $2,640, the expectations of nursing students are not aligned with current market conditions

Figure 32

Figure 33

Paid Time Off Expectations for Nursing Students

50% of nursing students expect to start with two weeks of paid time off

Adequate paid time off and the ability to accrue more with increased work loads or seniority is very important to the surveyed students

Nursing students have reasonable paid time off expectations that are inline with what surveyed novice nurses are receiving

Figure 34

Soft Benefit Preferences for Nursing Students

Flexible scheduling is the most important soft benefit to nursing students, including

o self scheduling, the ability to flex up and down as needed
o the choice of 8, 10, or 12 hour shifts,
o work weekend and nights only to support advanced education goals, and
o easy advanced planning for paid time off

46% of respondents selected discounted or free parking/transportation as the second most important soft benefit

A cafeteria discount and discounted or free gym membership were the most popular choices for the third most important soft benefit to nursing students

Figure 35

Most Important Benefits to Nursing Students

Significant debt burdens and other financial pressures, such as mortgages or raising families, are causing nursing students to place a high emphasis on hard benefits
Competitive salary, weekend and holiday incentives, bonuses, and tuition reimbursement were all identified as the most important benefits by this group
An excellent benefits package, including both health and retirement, were also commonly cited as most important

Figure 36

Nursing Students Speak Out on Desired Benefits

“Sadly, hourly pay [is the most important benefit]. I love caring for people. That’s why I chose nursing. However, it’s been a long six-year road to get here and a lot of debt has been accumulated. “
– ADN student, Lonestar College

“A quality retirement program is important to me, with matching options for a 401K. A good salary with options to pick up extra days will be helpful in paying back my student loans. I want to work, but I also want to accrue time off that allows me to relax and play.”
– BSN student, University of Texas Medical Branch at Galveston

“[I need an] organized schedule, a flexible schedule with changes announced in timely manner; and positive work environment.”
– BSN student, University of Texas Health and Sciences at Houston

“Hours are most important so I can be with my family on some regular schedule or have time with them.”
– BSN student, University of Texas Health and Sciences at Houston

“Time off is most important because I know nursing is a tiring job, and I know I will need it.”
– BSN student, University of Texas Health and Sciences at Houston

“Good salary and flexible hours and ability to switch to part time if I need to are first priorities.”
– Accelerated BSN student, University of Texas Health and Sciences at Houston

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

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