Is a Doctor of Nursing Practice (DNP) Worth It?

Doctor of nursing practice (DNP) degrees are rising quickly in popularity – according to the American Association of Colleges of Nursing (AACN), the number of DNP programs in the United States has more than doubled in the last decade. Their growth aligns with the rising need across all specialties for nurses and nursing leaders with advanced qualifications. 

But earning a DNP requires a significant commitment of time and money. How can you decide if it’s worth it for you?

Who Should Get a DNP? 

DNP degrees focus on applying evidence-based practice to strengthen the healthcare system, with a focus on quality improvement, patient safety and outcomes. In a recent survey conducted by the AACN, employers reported that DNP graduates have an “enhanced ability to implement higher level or ‘big picture’ thinking, implement evidence-based practice and quality improvement projects to improve patient outcomes, and recognize system errors.”

Many nurses pursue a DNP to prepare for leadership roles like chief nursing officer or executive positions in health systems, insurance companies and a wide range of other organizations. You might also consider a DNP if you wish to move into an advanced practice registered nurse (APRN) role. While a DNP is currently only required for nurse anesthetists, the Association of American Colleges of Nursing (AACN) and other professional organizations are pushing to shift the standard qualification for advanced practice to a doctorate by 2025. That means earning a DNP now can keep you abreast of the latest developments and expectations in the field. Testing statistics show that DNP graduates pass their nurse practitioner certification exams at higher rates than MSN graduates, suggesting that the doctoral degree may provide better preparation for licensure. 

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How Much Does a DNP Program Cost?

The cost of a DNP program can vary significantly depending on the school you select, your prior education and experience, and the track you choose to pursue. According to a 2020 research paper, the average total cost of a BSN to DNP program can range from $52,000 to over $110,000 (students who enter with a MSN will pay less but will likely have already paid for an MSN degree). 

However, more affordable DNP options are available. Franklin University offers a competitive tuition rate of $748 per credit hour, with programs ranging in length from 38 to 62 hours, depending on the student’s specialty and prior education. Plus, students who enroll in nurse practitioner tracks receive an automatic $5,000 scholarship. That means the total tuition of your DNP at Franklin will fall between $28,500 and $45,000, even if you don’t have a master’s degree. 

In addition to Franklin’s scholarship for prospective nurse practitioners, many employers offer some tuition reimbursement for nurses working toward advanced practice roles or leadership positions. 

How Long Does a DNP Take?

Like the cost of your DNP, the time it will take you to complete the degree depends on your background and the program you choose. 

If you already hold a master’s degree and pursue a non-clinical DNP specialty, like leadership, you may be able to complete your degree in as little as two years. If you enroll in a BSN to DNP program, you can expect it to take three to four years, depending on whether you pursue a non-clinical or clinical track (clinical tracks take longer due to the required hands-on experience). Some students pursue “direct entry” DNP programs, which are open to students who do not yet hold a BSN or nursing licensure. These degree programs typically take four years or longer and carry additional costs. If you already hold some graduate nursing credits but haven’t earned a graduate degree, you may be able to apply some of those credits to graduate faster. 

When you think about whether the time commitment of a DNP will be manageable for you, it’s also important to think about which program format might work best for your circumstances. Franklin’s DNP program, for example, delivers all its courses online, saving you time and money on transportation and allowing you the flexibility to balance work, school and personal responsibilities. 

How Much Does a DNP Make?

Since a DNP can be used in a wide variety of positions, there’s no standard salary to expect with this degree. However, it’s clear that for many graduates, a DNP can open doors to higher-paying positions that they could not access otherwise.

While salary data for advanced practice nursing positions and nursing leaders is not limited to professionals with DNPs, the median advertised salaries for positions that DNPs often fill can help you get a sense of what you might earn with a nursing doctorate. All data comes from Lightcast, a leading provider of labor market analytics. 

Common clinical roles and salaries include: 

Clinical nurse specialist

• Median advertised salary: $96,100

Certified nurse midwife (CNM)

• Median advertised salary: $122,200

Nurse practitioner

• Median advertised salary: $127,900

Certified registered nurse anesthetist (CRNA)

• Median advertised salary: $204,500
   

Non-clinical salaries and positions might include: 

Nurse educator

• Median advertised salary: $92,500

Nursing informatics analyst

• Median advertised salary: $103,200

Chief nursing officer

• Median advertised salary: $125,200

Medical policy analyst

• Median advertised salary: $129,800

The median advertised salary for a registered nurse over the same period was $87,400. This demonstrates the impact qualification for specialized roles has on salary. Earning a DNP degree is one way to increase your salary by accessing specialized roles.

Is a DNP Right for You?

Enrolling in a DNP program is a big decision, and it’s essential to carefully consider not only your career goals but also your lifestyle and ability to invest time and money in a doctoral program.

That said, if you are eager to learn more and have a bigger impact, a DNP can be an excellent choice. The aforementioned AACN survey found that the overwhelming majority of DNP graduates agree that by applying evidence-based practices to change systems and policies, they’re directly affecting patient outcomes. 

If you decide that a DNP is the right path forward for you, be sure to carefully consider the pros and cons of different programs and specialties to select the option that’s most closely aligned with your career goals and interests. 

Advance Your Career with a DNP

Franklin University’s flexible, online DNP program offers tracks for both aspiring nursing leaders and nurse practitioners. In addition to welcoming registered nurses with MSN degrees, each track offers a pathway for registered nurses who hold a BSN but no master’s degree in nursing.

With competitive tuition and low, transparent fees, you can earn your DNP at Franklin for less. Plus, Franklin’s generous credit transfer policy can help you save more and graduate sooner.

Learn more about Franklin’s DNP programs. 

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