Getting a higher degree is one of the best ways to advance in any field, and this is as true in nursing as in most other careers. While it may sound funny, you can actually get a doctorate in nursing, but instead of having an MD, like you would if you were a doctor, you’ll have a PhD. With a PhD in nursing, you’ll be qualified for a number of very high-paying positions, working as a nurse practitioner, manager, or even professor.

How much you will make as a PhD holder depends on a number of factors, including your specific career path. Here are some of the jobs most commonly held by those with PhD in nursing degrees, along with their average salaries:

• Nursing Manager: $65,000
• Nursing Director: $109.812
• Administration Director: $72,000
• Associate Professor of Nursing: $67,717
• Chief Nurse Anesthetist: $172,724
• Head of Nursing: $177,500
• Nursing Home Administrator: $93,250

With your PhD in nursing, you’ll b certified as a nurse practitioner, and according to reports by Allied Physicians, Inc., the average starting salary in this field is $57,000, with that number jumping to $62,000 if you have at least three years of experience (and most nurses with PhD degrees do.

Your salary potential will also change depending on where you work. The average salary for those working in urban areas is $63,000, while the average salary for those working in rural areas is $60,000. Remember, these are average for all nurse practitioners, including those who just have a master’s degree, so with a PhD in nursing, you can expect to be on the upper end of that average. Keep in mind that it is also easier to find a job in a city. The top ten communities for nurses are New York, Los Angeles – Long Beach, Chicago, Philadelphia, Boston, Detroit, Washington DC, Nassau – Suffolk, Minneapolis, and Baltimore.

Additionally, your salary depends on your employer. Hospitals and nursing homes are the top employers of nurses with any level of degree, but with a PhD, you open the door to a number of other career options as well. You can work at a university, teaching new nursing students, for example. There or at other healthcare facilities, you can also apply for research jobs, and no matter where your work, you’ll be eligible for management positions. In many states, nurses with this level of education are also able to open independent practices, without the supervision of a physician, so you can go this route and work for yourself as well.

In short, no matter what your career goals, getting your PhD in nursing can certainly help you qualify for a larger salary. It opens a number of doors, giving you even more career options than you had with your bachelor’s or master’s degree. Although it can be expensive to get an advanced degree, even with scholarships and grants, in just a few years, your education will pay for itself.