This week you will use the Bureau of Labor Statistics website to search for income data on the occupation you are seeking. Visit the following website: https://www.bls.gov/bls/blswage.htmLinks to an external site..

The BLS has wage information for hundreds of jobs, and data can also be found by state. There is much information here, so take some time to browse around.

Once you arrive at the site, complete the following steps to gather the data you need to answer the discussion questions.

Part 1

Search for information on your occupation by clicking on national wage data 800 occupations. This will take you to the Occupational Employment Statistics page.

Scroll to the bottom of that page for a table listing the major and sub-job categories. Note in the first column, there is an occupation code. For example, accountants and auditors have the code 13-2011 and are listed under banking and financial operations.

Click on the job title to find earnings information. There you will find mean wages as well as percentiles and the 5-number summary.

Compare the mean and median pays. For example, the mean pay for accountants was $78,800, and the median was $70,500.

Record the information on percentiles, the 5-number summary, the mean, and the median.

Part 2

Above the data on the occupation page, you will find the following links:

National estimates for this occupation

Industry profile for this occupation

Geographic profile for this occupation.

Select the geographic profile to view maps of the states.

Scroll down to the map that presents mean wages by state using the color code.

Compare the ranges of wages of the states based on the ranges presented.

Identify the highest-paying and lowest-paying states.

Discussion 3.jpg

Step 3

Include the following in your discussion post:

Share the information you found in steps 1 and 2.

Discuss your interpretation of the statistics you recorded in Part 1.

Percentiles

Mean

Median

How different are the salaries shown in the map of states?

What is the range for your state?

Would you move to another state based on this data?

What other statistics would you want to know before making that decision?

What effect do the lowest-paid and highest-paid states have on the calculation of the mean and median for the United States?

Suppose you were asked by a potential employer to request a salary. Which is the best measure to use to find “average” earnings for your occupation? Explain your answer.

Please review the post and response expectations. Please review the rubric to ensure that your response meets the criteria.

Please be sure to validate your opinions and ideas with citations and references in APA format.

Estimated time to complete: 2 hours

This topic is valued at 40 points. Please review the post and response expectations. Please review the rubric to ensure that your response meets the criteria.

Occupational Employment and Wage Statistics for Nurse Practitioners

The Bureau of Labor Statistics (BLS) provides detailed information into the earnings and employment distribution across various regions and industries for Nurse Practitioners who fall under code 29-1171. The national employment estimate for Nurse Practitioners stands at 280,140, with a mean hourly wage of $61.78 and an annual mean wage of $128,490. Percentile wage estimates reveal a broad spectrum of earnings within the field. At the 10th percentile, NPs earn approximately $45.45 per hour or $94,530 annually, while at the 90th percentile, earnings rise to $80.79 per hour or $168,030 annually. The median (50th percentile) hourly wage is $60.70, translating to an annual salary of $126,260. These figures provide a comprehensive understanding of the wage distribution among NPs. For instance, the 10th percentile wage indicates that 10% of NPs earn less than $94,530, whereas the 90th percentile wage shows that 10% earn more than $168,030. The mean wage of $128,490 is slightly higher than the median wage of $126,260, suggesting a slightly right-skewed distribution, with some higher earners pulling the mean upwards.

The salaries for Nurse Practitioners differ significantly across states. In my state, Illinois, the mean annual wage for NPs is $129,270. This is lower than in high-paying states like California, where the mean annual wage is $161,540, but higher than in Tennessee, which is $103,720 (BLS, 2024). While higher wages in states like California are attractive, I would need to consider other factors before moving. Important statistics include the cost of living, housing affordability, state taxes, job market conditions, and quality of healthcare facilities (Wachter, 2020). These factors influence overall financial well-being and lifestyle. Thus, moving based solely on salary data might not be advantageous without a thorough analysis of these additional variables.

The lowest-paid and highest-paid states significantly impact the calculation of the mean and median wages for Nurse Practitioners in the United States. For instance, California, with a mean annual wage of $161,540, raises the national mean, while Tennessee, with a mean annual wage of $103,720, lowers it (BLS, 2024). The mean wage of $128,490 reflects these extremes, making it higher than the median wage of $126,260. The median, being the middle value, is less affected by such outliers, offering a more stable measure of central tendency. Thus, high and low extremes primarily influence the mean, while the median remains a clearer indicator of typical earnings.

When requesting a salary from a potential employer, using the median wage is the best measure for determining “average” earnings. The median wage for Nurse Practitioners is $126,260, representing the middle value in the wage distribution, meaning half of NPs earn more and half earn less. This measure is less affected by extreme high or low wages compared to the mean, which is $128,490 and can be skewed by outliers (Deutscher & Mazumder, 2023). Therefore, the median provides a more accurate and realistic benchmark for salary negotiations, ensuring your request aligns with what a typical NP earns.

References

Deutscher, N., & Mazumder, B. (2023). Measuring intergenerational income mobility: A synthesis of approaches. Journal of Economic Literature, 61(3), 988-1036. http://dx.doi.org/10.1257/jel.20211413Links to an external site.

The U.S. Bureau of Labor Statistics. (2024). https://www.bls.gov/oes/current/oes_nat.htmLinks to an external site.

Wachter, T. V. (2020). The persistent effects of initial labor market conditions for young adults and their sources. Journal of Economic Perspectives, 34(4), 168-194. http://dx.doi.org/10.1257/jep.34.4.168Links to an external site.