Nursing doesn’t have to be routine or repetitive; it can be adventurous. If you’re looking for a fresh new opportunity, consider becoming a travel nurse. Benefits include exploring new parts of the country, working in underserved communities, and earning power. Travel nurses historically have made more money than shift nurses. In this article, we detail how travel nurse pay works, including the basics, factors that influence pay, and maximizing earnings.
Basics of Travel Nurse Pay
Travel nurse pay begins with base pay, which is an hourly wage. Your experience, specialty, and location determine your base pay. This will vary by state, facility, and demand. Where there is more demand, there is greater opportunity and increased earning power. As you consider where you want to work, think about how those places may impact your earnings.
There are also tax-free stipends, also called untaxed per diem. These cover temporary housing costs and are often tax-free if you’re eligible. Eligibility depends on whether you’re maintaining a tax home in one place. The taxability will be based on the rules for your tax home. Make sure to check with your recruiter to clarify what the stipends cover just to be sure.
Overtime and holiday pay are also parts of the basic pay packages for travel nurses. Typically, higher hourly rates are specified for work beyond 40 hours as well as additional pay for working holidays and weekends. This will be dependent on the facility and your contract making it important to read and understand everything before signing.
Lastly, basic travel nurse pay can sometimes include bonuses. These are typically offered for high-demand roles or in difficult-to-fill positions. There may also be a completion bonus which is an incentive paid for fulfilling the contract term. At AB Staffing, we also pay referral bonuses when you refer another nurse to us, and they complete a contract.
Factors Influencing Travel Nurse Pay
You’re working hard and would love to make more money. Pay rates vary by city, state, and even facility.
There are also opportunities to earn more in high-demand or underserved areas; while this isn’t always the case, it’s worth asking. If it’s an in-demand request but a shorter than 13-week average contract, it may pay more because they need your experience.
Working in specialized roles like ICU, OR, or NICU typically earn more. If you’re experienced, you will make more as well. This is why we encourage nursing school graduates to gain experience as shift nurses for 1-2 years. You will need that experience before a facility will hire you as a traveler.
Lastly, working evenings, nights, or weekends may offer higher pay rates depending on location and facility.
Communicate with your recruiter to negotiate pay and benefits.
Check out our article What You Can and Can’t Negotiate on Your Travel Nurse Contract for more details.
Understanding Travel Nurse Pay Packages
The important thing to remember about working as a travel nurse is that while you earn more than shift nurses, you will need to pay your own taxes, contribute to your own retirement account, and cover your own health and life insurance. While some agencies may cover or contribute, that isn’t always the case.
When you see your travel nurse paystub, it will show your base pay which is taxed, your untaxed per diem and any bonus pay which is also taxed.
Once you account for the expenses, you will likely still earn more as a traveler making travel nursing an attractive career choice.
Tips for Maximizing Pay
Here are a few ways to maximize your travel nurse pay.
- Extend a travel nurse contract – While you may be making the same base pay, you won’t have the expense of moving, which benefits you and your budget.
- Overtime – When overtime is available, it is an effective way to make extra money. If you’re saving for a unique gift or trip, this added income can be your fun money or put toward your next move, paying off debt, etc.
- Find Inexpensive Housing – your untaxed per diem is there to cover housing and incidentals. If you can find a good rate during your stay whether it be onsite, a hotel or other housing arrangements, you will end up making more during your contract.
- Crisis Assignments – Natural Disasters and global pandemics mean more available hours, and pay, for travel nurses.
For more on this topic, visit our article, How to Maximize Your Earnings as a Travel Nurse.
Research High-Paying Contracts
Of course, you want to make the most of your experience as a travel nurse. High paying travel nurse positions are available, as we’ve outlined in this article. To find those jobs, utilize agency resources and online tools to compare offers. An effective strategy is to ask questions before agreeing to anything. That way you can get the most in terms of money and experience.
As always, communicate with your recruiter about your career goals, experience, and earning power so they can match you with the best available opportunities.
Ready for a new adventure? Contact AB Staffing today!
