About 2,000 U.S. nurse leaders revealed a near $4,000 decrease in annual salary in a survey published in a recent issue of Nursing Management, The Journal of Excellence in Nursing Leadership.
A nurse leaders average salary is $80,170; in 2007, it was almost $84,000 ($83,930). The magazines editor-in-chief Richard Hader, RN, CNA, CHE, CPHQ, PhD, FAAN, blamed fallout from the economic decline in a news release. In addition to wage cuts, organizations are freezing or eliminating retirement benefits, according to Hader.
Almost 60% of surveyed leaders said they felt they werent appropriately compensated for their level of responsibility within their organization. But although salaries have been reduced, theres no evidence from this survey that workload has increased.
Also according to the study, 64% of respondents have held their current position for less than five years, and only 7% have been in a leadership position for greater than 16 years.