Average Annual Salary
If you’re interested in pursuing a career as a travel nurse, you can expect to earn a higher salary than permanent nurses. But your salary depends on your job duties, experience, education, and location. You may also be eligible for a housing stipend and per diem meals.
Travel nurses are often paid by the hour. The rate can be adjusted for overtime hours. For example, an operating room nurse in Arizona can earn up to $118,030 a year.
Travel nurses can also receive bonuses. Some agencies pay a retention bonus if a nurse remains with the company for a set amount of time. Other companies offer referral bonuses. These bonuses are given to those who refer other nurses to the agency.
Travel Nurses can also choose where they work. Whether they’re looking for relief from the cold or snow of the Northeast or want to take on a new adventure, they can find an excellent assignments in various places. There are many destinations.
Travel nurses can earn even more money by working extra shifts. They may also be able to negotiate an hourly rate for additional hours.
Overtime Hours
There is more to a travel nursing jobs assignment than just paying for travel expenses. Often, a travel nurse gets a bonus or compensation for overtime hours. This can be particularly attractive for nurses who don’t receive a tax-free stipend.
Some hospitals offer bonuses in anticipation of winter shortages. Other times, a crisis contract may be provided, usually in the short term. A crisis contract requires a healthcare provider to need extra help for a particular situation.
The average annual salary for a travel nurse is $112,780. In Texas, this is not an outrageous figure. The state offers a slew of opportunities in top medical facilities.
One of the best things about being a travel nurse is the flexibility. You can choose where to to work, when to work, and which communities to serve. During a long-term assignment, you may be entitled to free housing.
In addition, a travel nurse’s compensation often includes an hourly wage. Travel nurses with specialized certifications can expect to make more money.
While some travel nurse contracts do not include a bonus or extra hour pay, a travel nurse can still negotiate a higher rate. Depending on the agency, the additional hour rate can be as high as 1.5-2 times the base wage.
Sign-On, Completion, and Retention Bonuses
There are many ways to boost your travel nurse pay. A few of these include Sign-On, Completion, and Retention bonuses. The best rewards are the ones that tie into the contract and are not just a gimmick.
One of the most exciting bonuses is opening a new unit or ward. However, a new team can be full of problems. Whether it’s a lack of supplies or management, a new team can be a massive headache.
In addition to offering a sign-on bonus, some hospitals and staffing agencies may offer a retention bonus. This is a great way to reward employees for their loyalty. It also helps to improve job satisfaction.
Travel nurses typically receive an orientation to a new unit. By having a positive relationship with other nurses, they will be better able to provide care to patients. They must be able to work in a variety of cultural settings. And they must be able to function well in a team setting.
Some companies may even offer bonuses for new contracts. These bonuses are meant to motivate the travel nurse to join the company.
Night Shift Assignments
Travel nurses who work night shifts earn more than regular nurses working day shifts. Depending on your location, you may make up to 10 percent more.
Night shifts usually occur between 11 p.m. and 7 a.m., much slower than day shifts. This is because most of the patients are sleeping, which reduces distractions.
Night shifts can be an excellent way to build experience and gain a new skill set. Some hospitals offer a variety of opportunities, including mentoring, if you want to enhance your skills.
In addition, it is possible to pick up extra shifts on off days if you are willing to do so. A good travel RN will know that flexibility is key to making money at a hospital.
One of the benefits of being a travel nurse is the opportunity to explore your local area. You can visit attractions and tourist sites and spend your free time doing various activities.
In addition, there are perks associated with working the night shift. For example, there is less job competition, making it easier to find your next assignment. You may also be eligible for higher-paying positions if you are a nurse with more than one nursing license.
Location Plays a Key Role
Getting a travel nurse job requires several qualifications. Choosing an assignment that fits your skills and personal preferences is essential. There are also different pay rates depending on the nurse’s location and specialty.
Travel nurses generally earn higher salaries than staff nurses. This can translate into more take-home pay. But it is essential to consider the cost of living in your chosen location.
Many hospitals will offer more money for weekend shifts and holiday hours. This is because many hospitals need temporary staffing. You will also receive stipends for housing and food.
Travel nursing jobs are usually on an hourly basis. If you have specialized certification, you can work overtime hours. Some hospitals will give you bonuses for referrals. The rewards are a separate budget and should not affect your travel nurse pay package.
The pay is a blended rate that combines the taxed salary and untaxed compensation. This allows you to reduce your tax bill.
In addition to the base pay, travel nurses can expect to receive a stipend for mileage, sick time, and other job-related expenses. Most agencies will also provide a housing stipend and a preferred hotel.
