The outlook for jobs within the healthcare sector — especially for registered nurses — continues to be steady. Based on the amount of nurses retiring or leaving the profession for other reasons, the U.S. Bureau of Labor Statistics (BLS) predicts that there will be roughly 203,000 job openings for registered nurses (RNs) each year through 2031.
Plus, the COVID-19 pandemic stressed the personal and physical health of the nursing workforce, causing severe burnout. It is estimated that roughly 100,000 nurses left the workforce due to the challenges of the COVID-19 pandemic. An additional 800,000 say they plan to leave by 2027, signifying an imbalance of supply and demand in the profession — one of the primary drivers of the nursing shortage.
With this high demand, it’s a good time to be an RN. It may also be a good time to explore your options for advancing your education and pursuing higher-level positions, including those in:
- Healthcare administration
- Specialized areas
- Consulting
- Research
An Almost Recession-Proof Career
Many industries suffer when the economy is turbulent. The healthcare industry tends to be more stable than most, yet it is not immune to disruptive times. Hospitals have faced numerous financial challenges — especially during the COVID-19 pandemic. For instance, nearly one in 10 hospitals in Texas are at risk of closure as relief funds from the pandemic dry up.
Yet, the need for nurses continues to grow, and nursing shortages remain persistent. In addition to jobs being available through attrition, new jobs in healthcare will be created, thus increasing the employment of RNs by 6% by 2031. Many of these nursing jobs are expected to be in larger metropolitan areas.
The general aging population also requires more advanced care, driving the need for nurses with high levels of training and education. This is one of the many reasons why industry leading organizations and legislative bodies are moving to advance the Bachelor of Science in Nursing (BSN) degree as the minimum educational preparation for professional practice in nursing.
Increased Opportunities for Registered Nurses
The expected shortfall in nursing jobs brings great opportunities for existing registered nurses. For example, nursing shortages during the pandemic led to a vast increase in an existing area of fascinating nursing work: travel nursing. Travel nursing can offer RNs flexible, high paying work with the added bonus of opportunities to travel to and explore new, exciting places.
Nursing shortages can also lead to increases in both salaries and incentives to attract new talent, especially for BSN-prepared nurses. According to ZipRecruiter data from June 2023, RNs make an average annual salary of $90,901. The average annual wage for RNs with their BSN is $125,323 — an impressive average wage increase.
Plus, a BSN credential is preferred or even required for many advanced positions. For example, hospitals must employ nurses with a BSN or higher-level degree for nurse manager and nurse leader positions to be eligible for Magnet designation. Further, the American Association of Colleges of Nursing reports that 27.7% of healthcare facilities require that new hires have a bachelor’s in nursing, and nearly 72% of employers strongly prefer it.
Benefits of an Online RN to BSN Program
Earning your BSN degree is more manageable and affordable than ever thanks to online programs like Lamar University’s online RN to BSN. Lamar University’s flexible online program will allow you to complete your bachelor’s degree in as few as 13 months without causing a major disruption to your life or requiring additional clinical study requirements. You can continue to balance the demands of work and family while furthering your education and career.
For this year and for years to come, the outlook for jobs for registered nurses is projected to grow. An aging population will further the need for hospitals and other healthcare facilities to demand more nurses in the future. You can begin preparing for the future now by earning your BSN degree.
Learn more about Lamar University’s online RN to BSN program.
