In 2023, the salaries for nurse practitioners (NPs) and physician associates (PAs) continued an upward trend, reflecting a steady increase in wages. Approximately half of our survey respondents reported earning more in 2023 compared with the previous fiscal year. Specifically, 49.4% of NPs and 50.3% of PAs saw an increase, while 32.8% of NPs and 30.0% of PAs maintained their earnings. Only 11.7% of NPs and 9.8% of PAs experienced a decrease in income. This is notable compared with 2022, where 48.6% of NPs and 38.9% of PAs reported higher earnings.
According to the Salary Survey, the average salary for PAs in 2023 was $130,871, compared with $124,182 in 2022. The average salary for NPs saw a $7,000 boost in 2023, reaching $124,131 compared with $117,054 the previous year.
Read also: Physician Compensation: Is parity even possible?
Education and Gender Disparities
It is no surprise that NPs with a doctorate earned more than those with a master’s degree, with salaries of $129,234 vs $123,162, respectively. The percentage of PAs with doctorates was considerably lower than NPs (4.1% vs 17.8%, respectively), but those PAs with a doctorate earned considerably more ($142,727 vs $129,050). The gender pay gap persisted, as male NPs and PAs earned considerably more on average than their female counterparts (NPs, $136,786 vs $122,418; PAs, $135,664 vs $128,724).
Satisfaction and Burnout
Looking at job satisfaction, a greater percentage of NPs (40.9%) said they are satisfied/very satisfied with their compensation compared with those who are dissatisfied/very dissatisfied with their salaries (29.3%). PAs also were more satisfied with their compensation than dissatisfied (49.9% vs 22.7%).
For the first time in 3 years, NPs and PAs reported less burnout than the previous year. Although still a concern, the numbers improved, with 56.1% of NPs reporting burnout in 2023 (down from 66.2% in 2022) and 54.0% of PAs reporting burnout (compared with 62.6% in 2022). Work-related stress remained a significant contributor to burnout, with 41.4% of NPs reporting moderate stress, 31.2% high stress, and 11.9% extremely high stress. The picture is similar for PAs, with 38.7% experiencing moderate stress, 30.2% high stress, and 11.0% extremely high stress.
Areas of Practice
Internal medicine/family medicine/primary care continued to be the top areas of practice for NPs and PAs. In 2023, approximately 16.6% of NPs and 13.0% of PAs reported working in this field, showing a slight increase from the previous year (14.4% and 7.3%, respectively). Psychiatry was the next most common area of practice for NPs (9.1%); while for PAs, emergency medicine ranked second (8.0%). Of note, “other” was the largest area of practice, with 51.1% of NPs and 54.7% of PAs selecting that option.
Regional Distribution
Once again, the majority of NP and PA respondents hailed from the South (37.1% and 30.4%, respectively). Similar to last year’s survey, both NPs and PAs in the West reported making the highest average salaries ($137,564 and $139,781). In a shift from the previous year, suburban areas became the preferred choice for most NPs (37.7%), closely followed by urban areas (33.6%). For PAs, suburban areas remained dominant (43.7%), with urban areas following at 33.9%.
