Yes, you can make money as a traveling nurse. They are often in high demand due to nursing shortages in different regions or specific healthcare specialties. Here are some factors to consider regarding the income potential of being a traveling nurse:
Competitive Pay: Traveling nurses often receive higher total pay packages and benefits compared to staff nurses because they fill in gaps in staffing and work in high-demand areas. The exact pay rates can vary depending on factors like your specialty, location, experience, and the agency you work with.
Tax Advantages: Traveling nurses may receive tax-free stipends for housing, meals, and incidentals, in addition to their taxable wages. These stipends can significantly increase your take-home pay. However, tax laws can change, so it’s essential to stay informed and consult with a tax professional.
Bonuses and Perks: Many travel nursing agencies offer referral bonuses. Some agencies also provide other benefits similar to full time positions. Alliant Personnel Resources for instance provides Health/Dental/Vision insurance as well as a retirement savings plan with Company Match. Taking advantage of plans like this should be automatic in your retirement planning as it is basically Free Money! It is also a great reason to find an agency you work well with and stick with them.
Flexibility: Traveling nurses have the flexibility to choose their assignments and locations. If you’re willing to work in areas with higher demand or rural settings, you may be able to command higher pay rates than other areas of the market.
Overtime Opportunities: In healthcare, staffing needs can fluctuate, leading to overtime opportunities. Traveling nurses may earn additional income by working extra shifts or hours.
Experience-Based Pay: As you gain more experience as a traveling nurse, you will likely have a better chance at securing the best-paying assignments. Specialized skills or certifications can also lead to increased earning potential.
It’s important to keep in mind that while traveling nursing can be financially rewarding, it also comes with the challenge of adapting to new work environments and dealing with the stress of frequent relocation. Additionally, the demand for traveling nurses can vary by region and over time, so it’s essential to research the job market and work with reputable staffing agencies.
Before pursuing a career as a traveling nurse, consider your personal and professional goals, lifestyle preferences, and the potential impact on your work-life balance. An experienced recruiter can help shed light on considerations and what to expect in the real world scenarios as you prepare.
Contact Alliant Personnel Resources [email protected] to get all your questions answered and review available positions today!