Travel nursing is a popular career choice for nurses who want to explore new places, gain valuable experience, and earn competitive salaries. Travel nurses work with staffing agencies that offer assignments in different healthcare facilities and locations across the country. The salary for travel nurses can vary widely depending on the specialty, location, and agency. Here is a salary comparison for travel nurses with agency placements.
1. Specialties
The salary for travel nurses varies depending on the specialty. Travel nurses in high-demand specialty areas such as ICU, ER, and Telemetry tend to earn higher salaries due to the increased demand. On the other hand, specialties such as Medical-Surgical or Long Term Acute Care tend to earn lower salaries as there is less demand for these specialties.
2. Location
Travel nursing salaries also vary based on location. The location dictates the cost of living that influences the wage. Coastal and metropolitan cities such as San Francisco and New York tend to pay higher salaries due to higher living costs, while rural or smaller cities tend to pay lower salaries.
3. Agency Placements
Travel nursing agencies offer different compensation packages for their clients. The salary compensation package can include a tax-free stipend for housing or payments for travel and food. Each agency has different stipulations and negotiations, which is critical when trying to get a competitive salary. Experienced travel nurses may opt for a different salary package depending on their experience, skill set and chosen assignments.
4. Benefits
Aside from salary, travel nursing agencies offer benefits like healthcare, retirement options, and life insurance. It is essential to compare an agency’s benefits to ensure you are getting the best compensation package.
5. Bonuses and Incentives
Travel nursing agencies offer incentives and bonuses to attract talent to those who have proven their skills and commitment. The bonuses and incentives may be in the form of stipends, sign-in bonuses, and discounted housing credits.
Based on the above factors, travel nurse hourly pay rates range between $25 to $70 per hour, with the average salary of around $40 per hour. Pay rates are usually influenced by supply and demand within the specialty and location. Each scenario has its own unique compensation package.
Travel nursing offers an excellent opportunity for nurses to explore new places, gain valuable experience and earn competitive salaries. The salary for travel nurses varies depending on specialty, location, and agency placements. Compare different agency packages to ensure you are getting the best compensation package and benefit options. Travel nursing offers a rewarding and exciting opportunity to advance your career and experience new places while being compensated.
