You may know that travel nursing has better pay prospects compared to staff nurse. But you might not understand how much money you can make or what factors determine your salary or how you can maximize the amount of travel nurse salary you make.
Though you'll likely encounter people from different backgrounds and learn new systems on your travels, making the most out of a travel nursing contract is very possible. And that means making money!
Do you want to make more money as a travel nurse? Check out these expert tips and hacks, which will help you maximize your travel nurse salary.
What Does Travel Nursing Means?
A registered professional nurse traveling at to various areas to care for patients is known as a traveling nurse.
Nursing placement companies, temporary job agencies, and hospitals hire travel nurses. Depending on the facility's demands, their assignments may be long- or short-term.
Also read: How To Become A Traveling Nurse? A Complete Guide!
What is a Travel Nurse's Salary?
According to ziprecruiter.com, the average travel nurse salary is $118,400 per year or $57 per hour. It depends on various factors so that the wage may fluctuate from average.
What are the primary factors that can affect your travel nurse salary?
Location
One main factor that influences your travel nurse salary is where you choose to work. The location of your assignment will affect everything from housing costs to the cost of living, which will impact your take-home pay. Certain areas have higher living costs than others, so you may consider this when choosing where you want to work.
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Specializations and certification
Having additional certifications or specializations in areas such as neonatal care or critical care nursing will increase your chances of landing an assignment with better pay. It will ensure that you are experienced and trained in a particular area of nursing, increasing the chances of getting hired. These certifications add value to your CV and can help improve your travel nurse's salary.
The shift of work
The shift of work also has an impact on your salary as well as the number of hours you work each week. You can make more money working nights than day shifts because night shifts tend to pay more than day shifts.
10 Tips And Hacks To Make The Most Travel Nurse Salary
Decide on Your Residence
If you want to live in a particular area, it's best to ask your recruiter about places they know are suitable for travel nurses.
Most large travel nurse agencies offer corporate leases or preferred housing options. However, you may have to pay extra for these services.
If your housing stipend is more than you need for living expenses, consider saving some money by looking for an apartment or house in the neighborhood that suits you that is also affordable.
Finding housing thats not too expensive and below your housing stipend will let you save up thereby increasing your take home pay.
Finding housing can be incredibly challenging, especially if you're new to an area. Fortunately, your recruiter will help you find the perfect place for you or you can be proactive and checking on sites like Airbnb, Furnishedfinders, hotels that offer long term housing discounts, or staying with family or friends.
PRO TIP: You can bargain housing pricing with Airbnb and furnished finder hosts, as well as hotels especially if you are staying with them for an extended period. Ask for long term housing discounts or travel professional discounts with hotels.Also dont bargain prices with front desk personnel, they dont have the ability to give you discounts. Ask to talk to the hotels marketing personnel. I have gotten upto 30% off advertised prices with this hack.
Choosing a Transparent Organization
All travel nurse agencies are different, but working with one that has integrity and is available to you when you need it will give you more peace of mind as well as offer you competitive travel nurse salary.
You must find a company that will be transparent with you throughout the process. They should be able to disclose salary and benefits packages for all employees publicly. This way, there won't be any surprises later down the line when you realize that you'll need to cover additional expenses because no one told you.
You'll know what your paycheck will look like before accepting an assignment.
Engage in Various Companies
There's no reason to limit yourself to only one agency. Working with multiple agencies can help increase your travel nurse pay and benefits plus you will have different pay checks to compare to make the best decision for you.
Agency assignments will be available at various locations throughout the country, and applying to atleast three agencies makes sense if you are looking to get the most competitive pay. You might find that another agency offers a better contract or benefits package that will allow you to earn more money while working fewer hours!
PRO TIP: When it comes to choosing the right travel agency for you, always find at least three agencies and compare the travel nurse salary they offer, then choose the one that best suits your needs. Also if you prefer working with one agency over the other, you can ask that agency to match the pay of another agency that is higher. Yes, you can do that, dont be shy!
Holding Multiple State Licenses
In order to maximize your earning potential as a travel nurse, you need multiple state licenses. This will allow you to work in different states and get paid more for each assignment.
As all RNs know, getting and maintaining a license in one state can be expensive and time-consuming. But obtaining multiple licenses will allow you to get better assignments out of state—and stay in demand.
The Nursing Licensure Compact (NLC) agreement allows nurses to hold one valid nursing license that works in numerous states.
If you're looking to work in a non-NLC state, it's best to obtain multiple licenses to broaden your job prospects.
Browse for Prestigious Opportunities
To get the highest-paying assignments possible, communicate what you are precisely looking for. If all you care about are high pay rates, say so!
The best way to do this is by targeting jobs in areas where nurses are in short supply. States that are facing shortages of nurses will offer more than the usual salary to attract qualified candidates.
Some agencies offer higher salaries or have better benefits packages, so it's essential to research each agency before accepting a position.
How Can You Get High-Paying Assignments?
You can ask recruiters about the pay rates for different assignments. For example, you can say that you're looking for high-paying work and want to know what assignments pay the most.
Don't be afraid to negotiate with your recruiter or manager to try and get what you want out of your contract.
Consider Working Extra As a Per Diem Nurse
The per diem nursing field offers the convenience of working as needed rather than seeking a new job every so often. Because you are not on full-time payroll, a per diem nurse earns more money per hour than a staff nurse.
Although most travel nursing contracts are limited to weeks, picking up extra per diem shifts while you're waiting for your next assignment is a great way to earn more money.
Read our comprehensive post about per diem nursing to learn more about it.
Get Bonuses by Referring Others
Many agencies will offer referral bonuses if you refer someone who becomes a travel nurse, which is another excellent way to save up some cash. This can add up over time if you have a lot of friends looking for jobs or if you know someone who does.
The best part about these bonuses is that they're easy to get and don't require extra work. Referrals also help build your reputation as a reliable source for finding good-quality candidates; that means more job referrals are coming your way!
So if you're looking for another way to increase your income, start referring people to the companies hiring in your area.
Acquire Specializations and Certifications:
The more you know, the more valuable you become. That's why taking advantage of opportunities to learn new skills, such as additional certifications or specializations, is essential. You'll be able to earn more money as a result.
For example, if you want to become an ER nurse or ICU nurse, there aren't many opportunities for this type of job title. However, if you're willing to take on some extra training or education (and maybe even pay for it yourself), more options are available.
Long Contracts with High Paying Agency
To make the most money possible as a travel nurse, you should look for jobs that offer long contracts with high-paying agencies. The general trend in the travel nursing industry is that the longer your agreement, the more you will make.
Look for long contracts with high pay rates. Long assignments are better than short ones because they give you time to settle into your new location and build relationships with coworkers and patients. A hospital may offer you an extra paycheck if it needs help covering unexpected absences or if it wants to fill an upcoming vacancy quickly — so keep an eye out for these opportunities!
Work in a State With no Income Tax
Working in an area with a low or no income tax can make a big difference in your paycheck. This will obviously save you money and allow you to save more for retirement or other purposes.
According to the American Association of Retired Persons (AARP), the following are the nine states having no income tax.
Alaska
Florida
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Washington
Wyoming
Conclusion
Traveling as a nurse is an incredible way to see the world and can be one of the most rewarding experiences of your life.
We hope you have enjoyed reading this article and learned some new tricks to make the most of your travel nurse salary. You should now be able to get a higher paycheck, negotiate better, and work with more freedom.
If you have any questions regarding this topic, feel free to leave them in the comments below.
So what are you waiting for? Start planning your next adventure, and get ready to make some serious cash!
FAQs
What Types of Travel Nurses Make the Most Money?
There is no one-size-fits-all answer to this question, as the highest paid travel nurse can vary depending on the specialty and location. However, some of the most highly compensated specialties include critical care (ICU), emergency room (ER), operating room (OR), cath lab, and OB.
Do Traveling Nurses Make Better Money than Regular Nurses?
Travel nurses accept short-term assignments to fill job openings at hospitals, and their experience makes them valuable even when a hospital has problems filling available nursing jobs. Travel nurses often receive higher salaries than staff nurses for the flexibility of taking on these temporary positions.
Is It Worth Being A Travel Nurse?
Absolutely! Travel nursing is a great way to earn a high salary while enjoying flexibility and new adventures. If you love to travel, then there’s no better way to see the world than by taking on short-term assignments in different cities. You’ll get to meet new people, experience different cultures, and learn new things while getting paid very well for your work. Plus, you can often pick and choose which assignments you want to take on, so you can always make sure that you’re getting the most out of your experience. So if you’re looking for a lucrative and exciting career, travel nursing is definitely worth considering.
Do travel nurses get free housing?
That's a tough question to answer. It really depends on the agency and the hospital. Some agencies provide housing stipends, which can be used to offset the cost of rent or mortgage payments. Other agencies may provide actual housing for travel nurses, either in apartments or dormitory-style arrangements. And still others may not provide any housing assistance at all especially if its a travel local contract. So it really varies. Travel nurses should check with their agencies to see what kind of housing assistance is available.
Why Are Travel Nurses Paid So Much?
Here's the thing about travel nurses: they are essentially nomads. They don't have the same work benefits that traditional nurses do, they're essentially temporary staff, and they often take on tough assignments in remote locations. So why are they paid so much?
Well, the answer lies in supply and demand. There are simply not enough travel nurses to meet the current demand, so hospitals and clinics are willing to pay a premium for their services.
So if you're thinking about becoming a travel nurse, know that you will be in high demand and can command a pretty penny for your services!
Do travel nurses get to pick where they go?
Yes! Travel nurses typically have a lot of control over their work assignments. They can choose to work in any state or territory in the country, and many travel nurses also have the opportunity to pick their own hospital or clinic.
One of the benefits of working as a travel nurse is that you get to experience new places and cultures while you're on the job. You may also be able to take some longer vacations in between assignments if you want to explore a certain destination more thoroughly.
