It is common that traveling nurses are paid ten to fifteen percent above the average rates of nurses. Most pay falls between thirty to forty dollars an hour. That can amount to a good sum of money at the end of a year. Despite the higher pay, many nurses still look for ways to increase their earning potential. There are things that can be done to make sure that you are earning up to your fullest potential.
Remember, pay is more than just the amount of cash that you bring home every week. Pay includes benefits, housing, professional insurance, or anything else that would be a work related or even personal expense, which you would otherwise have to pay for. When trying to figure out how much you are being paid, it is a good idea to do a bit of research. Here are a few things that you can do to decide if the pay is right for you.
There is hidden pay in benefits. You can get detailed information on the health benefits that your agency offers. Take this information and find out how much it would cost you to get the same sort of coverage privately. Some agencies offer full coverage at no outward cost to you. They do this by offering it to everyone, but paying less than other agencies that do not offer the same sort of plan. If the benefits are important to you, you can do some simple math to find out if it is cheaper for you to carry your own policy, or accept a lower paycheck with a premium policy.
Not just health and life insurance can be provided by the agency. You may also be covered by the agencies professional insurance. Professional insurance is expensive and almost all health care professionals should carry it. It may be provided to you for free from the agency, at the cost of a few dollars of pay, or at a cheaper rate. It is up to you to determine if this benefit is worth the money. In some cases, hospital contracts may not be available if you do not have professional insurance.
Housing allowances are a great benefit. If you live in an apartment or house, and do not wish to move, you may get a housing allowance. The allowance is paid because normally they would have to rent an apartment for you in the location that you are working in. This is great for people in a location with several hospitals. They may be able to work at different hospitals, living in their own home and getting a housing allowance as a bonus.
Work the agency bonuses. Almost all agencies offer bonuses for referring people to them. If you like where you work, spread the word to your friends that are in the field. You may end up with some nice bonus money, from time to time. There are also bonuses to be had for holidays and overtime that are not available to regular hospital staff. This can add up quickly.
There are several ways to maximize your income as a travel nurse. You have to think about what your needs are. You may find that you may not make the highest cash pay. If you factor in benefits, bonuses, overtime, and allowanced, you may find that you are making more than you thought.
To learn more about RN careers, visit the rnnetwork.com travel nursing agencies page for more information and how to apply for a job.
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