10 Highest Paying PMHNP Jobs For 2024

Written By: Donna Reese MSN, RN, CSN

Psychiatric mental health nurse practitioners (PMHNP) are highly skilled advanced practice registered nurses specializing in their patient’s psychological health and well-being.

At present, psychiatric nurse practitioners are particularly in demand. With our country’s current mental health state considered a “burgeoning crisis,” PMHNPs should not have to worry about finding a well-paying job. With so many choices, you may ask, “what are the highest-paying psychiatric nurse practitioner jobs?” This article will give you what you are looking for as we present the 10 highest-paying PMHNP jobs for 2024. Who knows? With this newfound knowledge, you may land your dream job at the top of the wage scale in your specialty area.

WHAT ARE THE HIGHEST-PAYING PMHNP JOBS?

(The following are the 10 highest-paying psychiatric nurse practitioner jobs for 2024.)

#1 HIGHEST PAYING PMHNP JOB: Remote Independent Private PMHNP

About the Job:

Imagine making over $200.00 per hour while working from home. As an independent private practice practitioner, businesses such as Grow Therapy and Mindful Group Therapy help you to set up a private psychiatric telehealth practice to allow you to concentrate on what you do best; counsel and manage the mental health needs of your patients. Owning your practice without all of the business set-up headaches that go with it should entice many PMHNPs to this job. What’s not to love about this opportunity? Landing one of the highest-paying PMHNP jobs while working from home should certainly be the icing on this cake.

Earning Potential:

Indeed.com lists the salary of a Remote Psychiatric Mental Health Nurse Practitioner with Grow as $117 - $209 an hour.

Why is it One of the Highest Paid Jobs:

Independent practices can cut through much of the red tape and overhead associated with many PMHNP jobs. With telemedicine being one of the most profitable markets today, smart telemed business owners can amass lucrative profits.

#2 HIGHEST PAYING PMHNP JOB: Government

About the Job:

Some of the highest-paying psychiatric nurse practitioner jobs can be found with our government. The positions (and pay) vary significantly in this category. With depression and PTSD an ongoing concern for our vets, the Department of Veterans Affairs values their PMHNPs for the mental well-being of their troops. USA Jobs places PMHNPs in an assortment of environments and locals. Remote and underserved population areas compose many of the job sites.

Earning Potential:

Pay can range from $181,000 annually working for US Veterans Affairs to $266,000 in a remote Indian reservation.

Why is it One of the Highest Paid Jobs:

Historically, government jobs may not be the top paying but have always paid fairly. With excellent compensation packages, the total offerings are usually appealing. In this instance, the harder-to-place positions fairly compensate their PMHNPs for their sacrifice.

#3 HIGHEST PAYING PMHNP JOB: Outpatient Private PMHNP

About the Job:

Wise corporations such as Lifestance Health have developed healthcare models that include attractive incentives for their providers. As one of the largest providers of the nation’s outpatient mental health, Lifestance Health offers PMHNPs an excellent work environment and compensation package. For instance, they provide hybrid work, outstanding pay, a focus on provider continuing education, wellness plans that include flexible scheduling, and stock buy-in for staff ownership while mainlining a collegial and collaborative environment. In this type of position, you will provide assessment and treatment for a variety of patients depending on the particular locale.

Earning Potential:

According to LinkedIn, the salary offered for this job is between $230,000 to $260,000 annually.

Why is it One of the Highest Paid Jobs:

Successful management with lucrative profits allows this corporation to compensate its NPs well. They know that PMHNPs are hard to find and are willing to pay them handsomely to onboard top-notch NPs for their team. As one of the highest-paying PMHMP jobs, along with an enticing work environment, this offering could be an extraordinary opportunity.

#4 HIGHEST PAYING PMHNP JOB: Day and Residential Program PMHNP

About the Job:

If you are looking for a job with variety, organizations such as Bonita House and Interim Inc may meet your criteria. Residential mental health programs such as these provide support services, housing, and treatment for adults with mental illness. PMHNP may travel between day programs, homeless shelters, residential facilities, and smaller group homes for evaluation and treatment. Hours may vary in this type of position.

Earning Potential:

Jobs such as this list PMHNP compensation up to $232,565 annually in addition to sign-on bonuses.

Why is it One of the Highest Paid Jobs:

Positions such as this one many times are listed as urgently needed on many job sites. The rigors of this type of position and environment can be challenging. Working with mentally ill patients and the homeless is among the toughest medical assignments. There is probably a good reason that working in a mental health residential program is one of the highest-paying PMHNP jobs. That is because the many aspects of the job may be demanding and harsh, and finding qualified PMHNPs to fill the positions is challenging.

#5 HIGHEST PAYING PMHNP JOB: Psychogeriatric NP

About the Job:

When attending nurse practitioner school to become a PMHNP, it is unlikely that you picture yourself using your newfound NP skills in a nursing home. However (and it’s about time), a growing field called psychogeriatric care is emerging involving mental health treatment of our senior population. As a psychogeriatric NP, you will work in long-term care facilities, hospitals, and home health with elderly patients. Working remotely also is a possibility in this type of job. You will assess and treat patients with dementia, depression, and other serious mental health issues. Companies such as SupportiveCare have perfected this niche and have placed knowledgeable PMHNPs in skilled nursing facilities throughout the US.

Earning Potential:

PMHNPs working in psychogeriatric care earn approximately $197,877 annually.

Why is it One of the Highest Paid Jobs:

In general, there is a lesser appeal for NPs to work with the senior population and long-term care facilities. Granted, some NPs thrive working in this environment, but typically it is harder to find staffing in this situation. Thus, due to the lackluster enthusiasm for these types of jobs, the pay has to be competitive to attract PMHNPs.

#6 HIGHEST PAYING PMHNP JOB: Pediatric PMHNP

About the Job:

Not all psychiatric services cater to children and teens. Working as a pediatric psych provider can allow you to work in facilities for children and youth along with telemed practices such as Lifestance. Work hours and environments vary in hospitals, schools, teen detention and rehab facilities, and private offices. You will provide assessment, counseling, and treatment for various mental health disorders for children and teens, including depression and PTSD. With 1 in 5 kids diagnosed with a mental illness each year, your services will be in demand.

Earning Potential:

PMHNPs working in pediatrics can earn $187,759 annually.

Why is it One of the Highest Paid Jobs:

NPs who are skilled in both psych and children is a niche that is narrower than some other psych jobs. Finding the right candidate for this type of job requires adequate compensation to draw a qualified psychiatric NP. Although pediatrics is not a higher-paying field in general, it is one of the highest-paying PMHNP jobs. Lucky you!

#7 HIGHEST PAYING PMHNP JOB: Experienced Hospital PMHNP

About the Job:

Top-notch health facilities such as Salience Health in Dallas, Texas, hire experienced PMHNPs for fast-paced and innovative psychiatric hospital services. NPs in this position need to keep up with a large caseload of outpatient visits and be familiar with the latest technology and treatment in this field. Remote work is typically not available.

Earning Potential:

ZipRecruiter lists the salary of this position as (up to) $175,000 per year.

Why is it One of the Highest Paid Jobs:

Some of the highest paying psychiatric nurse practitioner jobs, such as this example, require superb PMHNPs. Although you will be well compensated for your experience and expertise, your money will be well earned. You must be able to meet the rigorous demands of this fast-paced environment, so excellent compensation should be the expectation.

#8 HIGHEST PAYING PMHNP JOB: Substance Abuse

About the Job:

Substance abuse nurse practitioners work in a variety of environments. Drug and alcohol counseling and detoxification are needed in hospitals, outpatient centers, correctional institutions, and schools, to name a few. As with all areas of mental health, the problem is worsening and the need is growing. As a substance abuse PMHNP, you can work a variety of hours in person and virtually assessing, treating, counseling, and monitoring patients as they struggle with addiction.

Earning Potential:

PMHNPs working in substance abuse make approximately $146,640.00 annually.

Why is it One of the Highest Paid Jobs:

Working with addicts in locales such as correctional facilities and detox centers may not be on the list of favorite jobs for many PMHNPs. To attract staff, these organizations need to pay their NPs well.

#9 HIGHEST PAYING PMHNP JOB: Traveler PMHNP

About the Job:

Although travel jobs are not quite as lucrative as in the Covid and post-Covid early boom, PMHNPs who work travel or Locum Tenans positions are still very much in demand. Travel nurse practitioners typically make more than in a permanent job. That is one of the main attractions of working in this type of position. You will work within your specialty and niche in various environments and locations according to your wants and background. Contracts vary from agency to agency, and you should be able to find one that suits your needs.

Earning Potential:

ZipRecruiter lists the earning potential for travel PMHNPs as $140,079 on average nationally. Pay varies widely for Locum Tenans PMHNP jobs according to agency and state.

Why is it One of the Highest Paid Jobs:

Traveling NPs historically are paid more than permanent nurse practitioners as they are filling a need for staffing. The pay must be substantial to uproot PMHNPs to a new job.

#10 HIGHEST PAYING PMHNP JOB: ADHD

About the Job:

Working as a PMHNP in a narrow niche such as ADHD care can pay off. Whether you work remotely in a job such as with ADHD Online or in practice, you will be assessing and treating ADHD in children and adults. With the prevalence of ADHD in children and youth over 10%, you should have a good chance of finding work in this area.

Earning Potential:

PMHNPs working for an online ADHD clinic make approximately $100/hour.

Why is it One of the Highest Paid Jobs:

Private ADHD practices, primarily operating online, generally have low overhead and lots of business. These types of jobs can compensate their PMHNPs fairly due to satisfactory profits.

MY FINAL THOUGHTS

Psychiatric NPs are at the top of the pay scale of NPs at present. As you can see from this article, “10 highest paying PMHNP jobs for 2024”, it is not unreasonable to command compensation over $200,000 annually! Who would have thought that was possible when you were back in NP school, toiling away in your many psych classes?

At that time as well as now, you may have been wondering, “what are the highest-paying psychiatric nurse practitioner jobs?” However, it may not have occurred to you that your decision to become a PMHNP would turn out to be such a lucrative one. Your hard work has paid off and you are in demand. Make the most of your advanced nursing degree and prosper!