{"id":2101,"date":"2022-06-23T05:00:00","date_gmt":"2022-06-23T05:00:00","guid":{"rendered":"https:\/\/burnedoutnp.com\/?p=2101"},"modified":"2023-02-08T14:09:17","modified_gmt":"2023-02-08T14:09:17","slug":"how-knowing-the-numbers-adds-leverage-in-a-nurse-practitioner-contract-negotiation","status":"publish","type":"post","link":"https:\/\/burnedoutnp.com\/how-knowing-the-numbers-adds-leverage-in-a-nurse-practitioner-contract-negotiation\/","title":{"rendered":"How Knowing the Numbers adds leverage in a nurse practitioner contract negotiation"},"content":{"rendered":"\n

Negotiating your nurse practitioner contract can feel intimidating!<\/strong><\/p>\n\n\n\n

You may be thinking….<\/p>\n\n\n\n

What if I am a new grad with no prior nurse practitioner experience?<\/p>\n\n\n\n

What if the employer thinks I sound greedy asking for more money?<\/p>\n\n\n\n

What if I live in an area saturated with nurse practitioners?<\/p>\n\n\n\n

What if the employer revokes the nurse practitioner job offer?<\/p>\n\n\n\n

It can be hard to <\/strong>feel confident when negotiating<\/strong><\/u><\/a> our nurse practitioner contract! Nurse practitioners may be so intimidated that we don\u2019t even negotiate!<\/p>\n\n\n\n

Whether you are starting a new advanced practice registered nurse job or asking for a yearly raise, negotiating your nurse practitioner contract can have so many benefits! Click here for 3 benefits to nurse practitioner contract negotiation.<\/strong><\/u><\/a><\/strong><\/p>\n\n\n\n

And having leverage in your contract negotiating can help you get your desired results<\/strong>. What does leverage look like in a nurse practitioner negotiation? It means being prepared <\/strong>and knowing valuable information<\/strong>.<\/p>\n\n\n\n

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The 5 knows of nurse practitioner contract negotiation<\/h2>\n\n\n\n

In The Burned-out Nurse Practitioner\u2019s course- Contract Negotiation for Nurse Practitioners<\/a><\/strong>, I discuss the 5 Knows of Negotiation<\/strong>. These 5 Knows are included in Step 2 of Contract Negotiation: Preparation.<\/strong> APRNs can be ready for the negotiation process by learning the 5 Knows of Nurse Practitioner Contract Negotiation.<\/p>\n\n\n\n

Here are the 5 Knows of Negotiation:<\/strong><\/p>\n\n\n\n

1. Know the employer,<\/strong><\/p>\n\n\n\n

2. Know the numbers,<\/strong><\/p>\n\n\n\n

3. Know yourself,<\/strong><\/p>\n\n\n\n

4. Know your limits, and<\/strong><\/p>\n\n\n\n

5. Know the plan<\/strong><\/p>\n\n\n\n

This post will cover Know #2: Know the numbers<\/strong>. Knowing numbers such as nurse practitioner salary in your area and knowing how much you are currently (or could generate) gives you so much leverage during your nurse practitioner contract negotiation.<\/p>\n\n\n\n

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Know the average NP salary in your area<\/strong><\/h2>\n\n\n\n

Knowing how much nurse practitioners are making in your area can help solidify the salary number you are asking for. I recommend you research all types of advanced practice registered nurses jobs in your area, as well as jobs with similar roles\/responsibilities.<\/p>\n\n\n\n

I.e. If you are a family nurse practitioner wanting to work in a primary care clinic, determine what other nurse practitioners make in a specialty clinic, urgent care, hospital, etc. job. Also research what other family nurse practitioners are making in primary care.<\/p>\n\n\n\n

Knowing comparative compensation for similar positions can help you leverage asking for more money during a nurse practitioner contract negotiation. Also determine the benefits package as a whole. Many nurse practitioners do not realize how lucrative the benefits can be in a nurse practitioner role. <\/p>\n\n\n\n

For example, many employers will pay for continuing education conferences or resources (i.e. UpToDate, Epocrates, etc), licensing fees (including state license, certification, DEA license, etc.), vacation days, etc. I have even seen many employers pay for the nurse practitioner\u2019s health insurance policy. Determine the benefits package for other nurse practitioner positions.<\/p>\n\n\n\n

How do you find out all this information?<\/strong><\/h3>\n\n\n\n

It can be tricky to know the salary and benefits of other jobs. Many nurse practitioners (people in general) are very private about compensation. Knowing your co-worker is making $10,000 more than you in a similar role can make you feel angry, frustrated, and wreak havoc on knowing your worth.<\/em><\/p>\n\n\n\n

I wish nurse practitioners were more open about their compensation. I think it would help us negotiate our worth and not accept low-ball salary jobs. But, until then, here are a few tips to finding out this secretive information.<\/p>\n\n\n\n

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