Staff nurses can get stuck in a routine with the same patients and facilities. Travel nursing allows them to explore different patient populations, hospitals, and healthcare environments.
Travel nurse salaries generally include stipends for lodging and meals that are tax-free up to a certain amount. Stipends aren’t performance or hours-based, so they can significantly boost your paycheck.
Increased Salary
Travel nurses are typically compensated more than permanent employees at their medical facility. Plus, many travel nurse agencies offer sign-on, completion, and retention bonuses that can add to your paycheck.
Travel nurse salaries vary by state, with some having a competitive advantage over others due to nursing shortages. Additionally, you can increase your pay by being flexible with your location and choosing higher-demand assignments.
Another way to increase your salary is by taking advantage of housing, meals, and incidental stipends. Travel nurses typically have to maintain a tax home to qualify for these travel nurse benefits, so it’s essential to remember this when budgeting.
You can also cut expenses by bringing your car to each assignment or opting for agency-provided housing in less expensive areas. Ask your travel nurse agency about reimbursements for initial licensure fees and continuing education costs. These tips can help you maximize your travel nurse paycheck, leaving extra cash in your pocket to enjoy the local cuisine and attractions on your days off.
More Flexibility with Shifts
As a travel nurse, you can choose shifts and locations based on your interests. You can experience a new location’s restaurants, shopping, parks or trails, beaches or lakes, and more without the hassle of finding a permanent job around your schedule. However, work with a recruiter to find an assignment that aligns with your desired program.
Another way to boost your travel nursing paycheck is by working overtime. Most staffing agencies offer overtime pay for hours worked over 40 per week. Be sure to read your contract carefully to ensure you are aware of the rate and if you qualify.
Additionally, tax-free per diem stipends for lodging meals and incidentals comprise a significant portion of your travel nursing compensation package. Taking advantage of these stipends can significantly increase your net paycheck. You can also minimize housing costs by staying with friends and family, renting a room in someone else’s home, or using an RV to save money on rent and utilities.
Tax-Free Per Diem Stipends
In addition to a competitive hourly rate, travel nurses typically receive weekly untaxed stipends to cover housing, meals, and incidentals. Since salaries can help offset living costs in many assignment locations, they can significantly boost travel nurse pay packages.
Travel nurses can also earn additional compensation through sign-on and completion bonuses or higher salaries if they accept an assignment in a high-demand area with a significant pay differential. In addition, some staffing agencies offer overtime pay rates to their nurses.
As a travel nurse, it’s essential to consider all the potential financial benefits and perks before choosing this career path. However, if you’re ready to take your nursing skills on the road and explore new opportunities for personal and professional growth, this could be the right choice. Talk with a licensed MAS recruiter about the best travel nurse salary options. And don’t forget to factor in any additional income-boosting activities, like side hustles or freelance work, into your overall earning potential.
Higher Compensation in High-Demand Areas
While it is not guaranteed, travel nurses seeking assignments in high-demand areas are more likely to get better compensation packages. Especially when it comes to specialties that take more work to fill; for example, a nurse with a certification in cardio catheterization will likely make more than someone with a basic nursing certificate.
Additionally, some travel nurse assignments come with substantial stipends to help diffuse the cost of relocation and living expenses. For example, you may receive a housing stipend for your rent, utilities, and additional funds to cover meals and incidentals. Salaries are non-taxable, making them an effective way to maximize your earnings.
Remember, however, that your tax situation will change as you move from assignment to assignment. Be sure to discuss your options with your agency and find a tax professional with experience working with travel nurses. They can help you keep on track throughout your career and ensure you don’t miss any possible deductions.
More Opportunities for Specialization
You’ll be exposed to different specialties as a travel nurse in various settings. Most facilities are short-staffed and need to fill specialty roles. If you’re willing to learn and take on new assignments, you can hone your skills and potentially switch specialties. You won’t have the same job security that permanent nurses receive, but you can also build a strong resume and gain valuable experience to help you achieve your career goals.
Another way to boost your income as a travel nurse is to choose high-demand assignments, like those in crisis areas. According to 2023 Ziprecruiter data, these assignments typically pay higher compensation packages.
Another great way to make the most of your travel nursing salary is to avoid on-the-job politics by focusing on your work. You’re only at each assignment for, on average, 13 weeks, so you can focus on your job and move on to the next without worrying about petty workplace drama.