Travel nurses saw a rise in pay during the pandemic. Now, they might lose those benefits. Travel nurses, who are in high demand and earning the maximum amount as twice their pre-pandemic wages, are in an uproar after legislators involve an investigation that would cause lowering their pay.
For the nurses who have witnessed the darkest moments of the pandemic under harrowing work conditions, the increase in demand for travel nursing has come as a welcome opportunity.
Agencies that staff nurses round the country started paying the maximum amount as twice nurses’ regular salaries to those willing to visit areas with a staffing need. Thousands of nurses have jumped at the prospect .
It made sense for people like Tammy Pender, a RN in Florida who had racked up debt to worry for her family.
Pender’s father could not afford his house, so she took on a mortgage and car payment to assist him. Her sons, a 10-year-old and 11-year-old twins, were reception like most youngsters in virtual learning, and her husband left his job to assist look after them. Pender, who was the upper earner , said the choice made sense at the time, but the debt trapped to them fast — then did the burden of the frontlines of the pandemic.
Pender said nurses were having to require on multiple roles, working as phlebotomists and techs while managing huge patient workloads. then there was the mental toll. Nurses were being called heroes early within the pandemic for fighting the virus, but many were feeling like their pay and therefore the working conditions weren’t commensurate with the problem of the work.
What is a Travel Nurse?
Travel nurses are registered nurses who add short-term roles at hospitals, clinics, and other healthcare facilities round the world. Travel nurses help fill gaps in areas where there are nursing shortages, and as a result, the typical travel nurse salary are often quite high!
With everything happening immediately , more and more nurses are considering going into travel nursing to assist within the areas that require it most, like ny . Nurses can expect to ascertain much above average pay packages immediately . But, there are still variety of things you would like to think about when it involves your travel nurse salary. Here’s what you would like to understand to navigate pay as a travel nurse.
How Much Money Do Travel Nurses Make?
In normal circumstances, travel nurses can earn more than $3,000 per week. Travel nurses can usher in over $50 per hour, plus company-paid housing accommodations. Making it entirely possible for travel nurses to form overflow $100K per annum .
How Does Travel Nurse Pay Differ From Staff Nurse Pay?
Staff nurses during a hospital are usually paid a group salary supported education and knowledge . Incentives are typically given at periodic intervals.
Travel nurse pay is completely different and may be a touch of a grey area . Typical pay packages are composed of varied components including, hourly pay, non-taxed housing stipends, non-taxed per diems, travel reimbursements, and more.
What are Non-Taxed Stipends for Travel Nurses?
As a travel nurse, you get taxable hourly rates and a tax-free stipend. Non-taxed stipends are used for expenses like housing, meals, and other incidentals. additionally to non-taxed stipends travel nurses also receive hourly pay.
What Factors Impact Your Pay as a Travel Nurse?
In addition to crisis situations like we’re facing immediately , there are variety of other factors which will influence what proportion you’ll expect to form as a travel nurse. These include:
Location – the precise location of the assignment most heavily influences travel nurse pay. Simply put, pay rates often reflect the value of living within the area and also regional trends.
Which states pay the foremost for travel nurses? Historically speaking, the very best paying states for travel nurses include California, Texas, Massachusetts, Washington, and ny .
Southern states tend to possess lower living costs and, in turn, lower travel nurse pay.
There may be a difference in pay in areas considered a “destination” (like Hawaii and Florida). Though this isn’t always the case when a rapid-response assignment is being performed.
The COVID pandemic has increased travel nurse pay with high demand areas paying over $10,000 per week.
Specialty – The travel nurse’s specialty also impacts pay. Non-specialty nurses like the medical/surgical and psychiatric specialties are typically paid a lower rate than specialized nurses. Furthermore, specialized nurses with highly wanted skills and credentials have the power to earn more lucrative pay with seemingly endless opportunities.
Shift – If you haven’t noticed, night shift assignments are more prevalent within the world of travel nursing. the great news is that a lot of hospitals offer higher rates for his or her night shift assignments. If you would like to form the foremost money, flexibility is vital . A word of caution, if the night shift isn’t your thing, no amount of cash is worth your safety, happiness, or license. If you provide better patient care during the day shift, stick with that. Your patients will many thanks .
Read more: How to Become Luxury Travel Advisor
How To Make the foremost Money As A Travel Nurse
While the factors listed above do influence travel nurse pay, the subsequent sorts of assignments nearly always pay exceptionally well. Often times, these sorts of assignments aren’t influenced by location, specialty or shift.
Everything else aside, if you’re looking to form the foremost money as a travel nurse, hunt down these specific assignments:
- Rapid Response and “Crisis” Assignments
These assignments boast a number of the very best rates within the travel nursing industry thanks to their urgent requirements. because the name suggests, these assignments require nurses to reach work fast — usually within 2 weeks. Nurses working in these assignments may have limited options in terms of location. they’re also typically shorter than the overall 13-week assignment – if you’re able to go, you’ll start directly in areas that require you the foremost .
Generally, the hospital isn’t experiencing a crisis situation like a natural or man-made disaster. However, in some cases they’re . for instance , one agency was ready to send nurses within 48 hours to supply support to hospitals treating patients within the aftermath of Hurricane Harvey.
In most cases, rapid response solutions are needed by facilities managing unexpected census spikes, unit openings, emergency responses, and EMR upgrades. During short-term staff shortages, however, some facilities may take advantage of flexible-length assignment options in order to provide patient care.
This type of assignment could also be appealing to hospitals because they are doing not require the 13-week commitment that a lot of other travel companies require. this suggests that agencies offering these sorts of assignments have the power to supply travelers a bigger selection of shorter and higher-paying assignments. an excellent option especially if you’re trying to find an edge to raised suit your lifestyle.
So, what’s the catch? As mentioned, rapid response assignments require a fast rotate . Therefore, it’s absolutely crucial for nurses to possess their paperwork so as if they need to reap the advantages of top pay. The agency should receive credentials, tests, licenses, and other documents as soon as possible.
We reached bent travel nursing agencies for more information about their rapid-response assignments. They said that the majority agencies will occasionally help nurses acquire licenses and certifications, including paying for brand spanking new state licenses for nurses who complete an assignment with the corporate there.
Agencies also offer the choice to hide housing costs if the nurse stays in one among their preferred hotels. Alternatively, many travel nursing agencies provide a housing stipend calculated to hide the value of a nurse acquiring his or her own housing during the assignment. Lastly, they also cover the travel costs nurses incur at the beginning and end of an assignment.
Nurses may work 36 to 48 hours a week, but are more lucrative when they work 48, especially when you factor in overtime pay.
- Bonuses
You’ll likely run into assignments advertising “bonuses,” it’s important to understand the difference between these bonuses so you’ll use them to your advantage.
- Hospital vs Agency Bonuses
They are usually offered as a completion bonus, and are paid separately from the bill rate. This suggests they’re not paid until after you complete your assignment. These bonuses usually range from $250-$5000.
Agency bonuses could also be taken out of the bill rate and affect your overall pay. This isn’t necessarily a nasty thing, especially if you enjoy getting an outsized amount of cash as a payment .
How does one know the difference between hospital and agency bonuses? For starters, you’ll ask your recruiter where the bonus comes from — hospital or agency?
- Retention Bonus
Some agencies can pay nurses bonuses once they find yourself working thereupon agency for multiple assignments. this is often commonly mentioned as a retention bonus and every agency will have its own requirements. These bonuses usually range from $100-$2,000, or more.
- Referral Bonus
A referral bonus may be a fee the agency pays to travel nurses who refer other nurses to figure for his or her agency. The funds often begin of a separate budget allocated to referral fees and will not affect the travel nurse’s pay package.
Referral bonuses typically range from $500-$4,000 per nurse referral. a number of the simplest agencies within the industry pay nurses lucrative referrals bonuses once their referral completes an assignment.
- Strikes
Strikes occur when a labor agreement or bargaining agreement between a hospital and a union is up for renewal. When the 2 sides aren’t ready to come up with a suitable compromise, the union may strike.
In such a case, patients still need care. Travel nurses can fill the gap, so hospitals hire them to fill the short-term need. Thanks to the urgency, travel nurses who work strikes make far more money than they are doing when performing on typical travel nurse assignments.