Travel nurse pay is complicated – there are hourly rates, tax-free money, overtime rates, holiday rates… so many things to consider before you sign a contract. Yet, the one thing that doesn’t really affect your pay rate is how much experience you have as a nurse. Say what?
You need to have at least two years of experience to become a travel nurse. Other than that, experience doesn’t really affect your pay. For example, if you have 10 years of experience or 15 years of experience, your pay rate as a travel nurse isn’t’ really going to be affected by that. The rates are typically previously agreed upon between the agency and the hospital. From there, it’s the recruiter’s job to find someone to fit into the positions they’ve created. So, what does actually affect your travel nurse pay?
What Affects Your Travel Nurse Pay?
The main thing that will affect your pay is where you decide to go. Each location can differ in demand, cost of living, and in the dollar amount of stipends that are available to you. Here are all of the things that can affect your pay.
1. Demand for your specialty
Some specialties are in higher demand than others, and therefore hospitals will pay more to have you. The reality of it is, if a hospital is desperate for coverage in a certain unit, they will pay top dollar to get those positions filled. If you happen to have experience in something that they need, you’ll be in luck! This is the only time your experience could really factor into how much you make as a travel nurse.
2. Your specialty in general
Your specialty, in general, can affect your pay. For example, certain specialties require more certificates and training. Therefore, nurses who work in those fields – say neurology – will make more money than a nurse who works in med-surg.
3. Cost of living where you go
Third, the cost of living varies across the country. If you go somewhere that has a high cost of living, this can affect how much money ends up on your pocket vs how much goes toward rent and other living expenses.
4. Stipends, or tax options available
Fourth, you are eligible for stipends, or tax-free money, depending how far from home you travel. These stipends are essentially money that cover any expense you acquire as a result of traveling, such as temporary housing, food, gas, and any other living expenses.
5. What schedule you sign up for
Depending on what shift you are scheduled, your rate could fluctuate. For example, some contracts may show more money if you work night shift instead of day shift. Other times where you could make more money are if you are scheduled on a holiday or all weekends.
6. Your personal situation
This one doesn’t really affect your pay, per say, but it does affect how far you can stretch your money. IF you are traveling with a pet, you may have to pay extra for that. If you have kids, of course that costs money too. Think about your personal situation and additional expenses you might have that won’t be covered by the stipends.
VIDEO: A Breakdown of How Salary Works in Travel Nursing
Travel nurse pay is complicated. Here is a breakdown of exactly how your salary works. It’s important to understand this so that when you see each line item on your contract, you know what you’re looking at! You want to make sure you are making the most money that you possibly can before you sign your contract.
Do you have any additional questions about travel nurse pay? Drop them in the comments below!
