Nurses who embrace travel nursing benefit from increased flexibility. They can take 4-13-week assignments and have time off in between to recharge, visit friends or family, or go on a bucket-list vacation.
Travel nurses fill gaps in healthcare facilities, and hospitals often offer them competitive compensation packages. Many agencies also provide nurses with housing stipends or reimbursement packages, which are tax-free.
Better Benefits
Often, travel nurses find that their assignments come with generous sign-on and completion bonuses. On top of competitive base pay, these additional incentives make travel nursing even more enticing.
With each assignment, travel nurses gain new experiences and skill sets. The diversified experience adds value to their resume. Moreover, learning from other seasoned nurses and physicians helps them move up the ladder faster. In addition, other benefits of a travel nursing job are being provided housing and travel allowances to help cut down on living expenses. These perks significantly reduce travel nurses’ overall spending, allowing them to pocket much more of their paychecks. Another way that travel nurses are compensated is through shift differentials and overtime. Depending on the facility, these bonuses can add up and significantly increase a nurse’s salary.
Higher Pay
Travel nurses can make a great salary, especially by adding all the extra benefits they enjoy. This includes competitive housing rates, travel nurses’ health insurance, and tax deductions unavailable to other professionals. As a travel nurse, you’ll also be free to select assignments that allow you to maximize your paycheck. In some cases, you may be able to increase your pay by choosing a specialty that’s in high demand or an assignment location with a higher cost of living. However, it’s important to remember that the more you talk about your pay package with other travel nurses, the less likely you are to be successful in negotiating. Research suggests that “status concerns” can negatively impact your negotiating skills. Instead, focus on establishing trust and being respectful during your negotiations.
Flexibility
Few careers offer the level of flexibility that travel nursing offers. Nurses can pick assignments based on their preferences for shift type (day vs night), location, and contract length. They can work close to home or go over 1,000 miles away – it’s all in their hands.
Travel nurses are also paid more than staff nurses for overtime hours. This additional income can allow nurses to pay off student loans and build personal wealth. It can also allow them to save for a new home, take a vacation, or start a side business.
Embracing travel nursing requires sacrifices in some cases, including being away from family and friends for extended periods and living in short-term housing or hotels. However, nurses need to be financially savvy and work with a recruiter to find the best travel nursing opportunities that meet their goals. Nurses who make the most of this career choice often report that they enjoy more freedom and a better quality of life than they would in a traditional nursing role.
Independence
Travel nurses can gain valuable work experience by working at top-rated hospitals, helping them build their resumes for future applications to graduate schools or permanent positions. This resume-boosting experience also helps nurses determine the best path for their career goals.
Another attractive feature of travel nursing is its flexibility. Nurses can take assignments in areas of the country where they enjoy the weather, beaches, mountains, or whatever else appeals to them. This freedom of choice allows nurses to pursue their passions while also having the opportunity to pay off student loans or save for retirement.
In addition to the competitive base pay, many travel nurse agencies offer sign-on, completion, and referral bonuses that can significantly increase a nurse’s total compensation package. Additionally, most travel nurse agencies provide free or partially paid housing for their nurses or reimburse them for their housing expenses.
Flexibility
Aside from competitive base pay, many travel nursing agencies offer additional incentives to boost nurses’ salaries. Examples include sign-on, completion, and referral bonuses. Voca even offers 40 hours of paid PTO upon completing a year on contract!
Travel nurses also can tailor their assignments based on personal needs. For example, taking more time off between travel nurse contracts can help prevent burnout. Moreover, choosing a facility that aligns with your professional goals and values can increase job satisfaction.
Lastly, travel nurses can benefit from the flexibility provided by tax-free stipends, which allow them to allocate money that they would otherwise spend on living expenses towards personal interests or savings for retirement. It’s important to track and evaluate your financial situation throughout your travel nurse career to ensure that you are on track to meet your desired goals and maintain your travel nursing freedom. It’s also vital to assess transportation options at each assignment location to determine which mode of transport is most cost-efficient.