Is the Nurse Practitioner Job Market Really Saturated? What New NP Grads Need to Know About Finding Work
If you’re a new nurse practitioner (NP) graduate, you may have heard concerns about a “saturated” job market. It’s alarming to hear more and more NP grads talk about the difficulties they face landing that first job after graduation – some waiting months or even longer.
With the impacts of the COVID-19 pandemic, you’d think the hiring process for nurse practitioners would be speeding up. But that doesn’t seem to be the case, especially for family nurse practitioner (FNP) students in certain geographic areas who appear to be having an especially tough time finding work compared to NPs in other specialties.
One common theme new NP grads struggling with employment mention is “market saturation.” But is the nurse practitioner job market truly saturated? Let’s take a closer look.
What Does “Market Saturation” Mean for Nurse Practitioners?
Market saturation refers to a point where the supply of something (in this case, nurse practitioners) exceeds the demand, causing its value to decrease. This makes it harder for individual providers to stand out.
There are likely many complex factors at play, but I’m not convinced the nurse practitioner job market is truly saturated. Here’s why:
The Growing Need for Healthcare Providers By 2030, global demand for healthcare workers is projected to reach 80 million – while the supply is only expected to reach 65 million. This 15 million worker shortage will be even more dramatic in higher-income nations like the United States.
The increasing number of new NP graduates in recent years (28,000 in the US in 2017) may seem like a sign of market saturation. But the reality is that patient needs are still not being fully met. Nurse practitioners are incredibly valuable, and the demand for your skills will continue to grow.
The Scarcity Mindset and Feeling Valuable
As an NP Part of the employment challenge for new NP grads likely stems from a scarcity mindset. As the number of nurse practitioners grows, some may worry about feeling less valuable or in-demand.
This is not unlike the push-and-pull we see between physicians and nurse practitioners. Physicians sometimes argue that NPs don’t have the same training, even though studies show patient outcomes are similar. This could be an attempt to maintain their perceived value and status. Nurse practitioners are experiencing a similar dynamic as more NP programs produce graduates.
Patients Still Aren’t Getting the Care They Need
While the fear of becoming less valuable is understandable, we need to look at the bigger picture. There are still vast numbers of patients who can’t access various healthcare services, from routine check-ups to specialized care. This has to do with a lack of available providers – something nurse practitioners are poised to help address.
Tips for New Nurse Practitioner
Graduates Finding Work So how can new NP grads and soon-to-graduate MSN students find work in this landscape? Here are some tips:
- Use Recruiters: Job recruiters can be an underutilized resource for nurse practitioners. Recruiters have connections with hospitals and organizations that you may not be aware of.
- Leverage Practicums: Treat your final semester clinical rotations as job interviews. Make it known you’re eager to learn and would be a great fit for the organization.
- Cast a Wide Net: Apply to a variety of roles, settings, and locations – even ones you may not have initially considered. The more opportunities you pursue, the better your chances.
- Have Patience: The job hunt process can be frustrating, but remember that you have valuable skills and expertise that are in high demand. With persistence, you will find the right fit.
The nurse practitioner job market may feel challenging, but the need for your skills is only growing. By using creative approaches and maintaining a positive mindset, you can find the NP role that’s the best match for you.
References
1 Liu, J.X., Goryakin, Y., Maeda, A. et al. Global health workforce labor market projections for 2030. (2017). Human Resources for Health. https://pubmed.ncbi.nlm.nih.gov/28159017/
2 Faraz, A. & Salsbert, E. (2019). From education to practice: What we can learn about the workforce from a survey of new nurse practitioners. Journal of the American Association of Nurse Practitioners, 31. https://pubmed.ncbi.nlm.nih.gov/31348144/
3 Horrocks, S., Anderson, E., & Salisbury, C. (2002). Systematic review of whether nurse practitioners working in primary care can provide equivalent care to doctors. Br Med J, 819-823. https://pubmed.ncbi.nlm.nih.gov/11934775/
4 Martinez-Gonzalez, N., Djalali S., Tandjung, R., Huber-Geismann, F., Markun, S., Wensing, M., & Rosemann R. (2014). Substitution of physicians by nurses in primary care: A systematic review and meta-analysis. BMC Health Services Research. https://pubmed.ncbi.nlm.nih.gov/24884763/
5 Stanik-Hutt, J., Newhouse, R. P., White, K. M., Johantgen, M., Bass, E. B., Zangaro, G., Wilson, R., Fountain, L., Steinwachs, D. M., Heindel, L. & Weiner, J. P. (2013). The quality and effectiveness of care provided by nurse practitioners. The Journal for Nurse Practitioners. https://www.sciencedirect.com/science/article/abs/pii/S1555415513004108
