Becoming a travel nurse offers the unique opportunity to potentially earn more than that of a registered nurse who works full-time at one facility. But, how much is a travel nurse salary? While there is an average base pay when it comes to income, there are a number of perks and benefits that go into the overall pay package that make being a travel nurse all the more amazing.
Average Travel Nurse Salary
According to the latest data from the Bureau of Labor and Statistics, the average hourly wage for an RN was $45.80, and the average salary for the year was $94,480. If we compared a travel nurse salary vs. perm staff salary, the average salary for a travel nurse was $114,412, with an average hourly rate of $49.03.
Now, it’s also important to remember that not all assignments will pay more than perm positions. There are a variety of factors that can influence your earnings, such as:
- Location
- Specialty
- Education
- Shifts
- Type of Assignment (EX. Crisis or strike)
- Demand
While pay is one of the biggest factors in the allure of travel nursing, there’s a little more to a travel nurse salary than just the amount on a paycheck.
Non-Salary Perks of Being a Travel Nurse
How much a travel nurse makes isn’t just about hourly wages, though. Pay packages offer tons of benefits like insurance coverage, housing stipends, education reimbursement, and bonuses that all play into your overall compensation when you look at the bigger picture.
Benefits
Many nurses prefer staff roles so they, and their families, can be eligible for insurance coverage and have peace of mind. But what’s great about travel nursing is that these benefits are also available, especially when using a travel nurse agency. For example, Medical Solutions offers day-one medical, dental, and vision insurance, as well as a 401(k), free EAP, voluntary life insurance, accident insurance, and so many more great benefits.
Housing
The thought of trying to find housing in a city that is unfamiliar might seem daunting, but it doesn’t have to be. A major perk of travel nursing, especially traveling with a supportive agency, is that housing is provided for you. With Medical Solutions, a team of experts works with you to provide paid, private, and pet-friendly housing with utilities set up and covered before your arrival. Or if you prefer to find your own home away from home, you can take a housing stipend.
Bonuses
To help enhance a travel nurse’s salary and experience, agencies often offer bonuses to nurses. Things like loyalty bonuses and referral bonuses are just a few ways travel nurses can put a little extra cash in their pocket on top of their salary. Medical Solutions offers a $600 loyalty bonus for every 600 hours worked and $500 referral bonuses for every person who accepts an assignment—and there is no limit to the number of bonuses you receive.
Reimbursements
Traveling to new states means you’ll need to get licensing for each state you work in if it’s not a compact state. A major plus side to travel nursing is you’ll be reimbursed for any license you need to obtain for an assignment, as well as any specialty certification if professional development is part of your career goals. Not to mention, you’ll be given travel stipend reimbursements to help with any costs while traveling to and from your assignment.
Flexibility
While not a monetary asset to your earnings, flexibility is an invaluable perk that many other careers, including staff nurses, don’t get to experience. As a travel nurse, you get to set your own schedule and decide what city you want to work in, and which facility you want to work for. You’ll obviously need to work the hours and shift required by your assignment, but if you want to, say, change up from a faster-paced hospital in a metro area to a slower-paced one in a rural area, you can! What’s even better is that when you’re done with an assignment, you have the freedom to take a break and refresh to avoid burnout.
You might wonder, “Is it worth it to become a travel nurse?” As the demand for nurses continues, embracing the non-salary perks of travel nursing may just be the key to unlocking a fulfilling and rewarding career. From customizable benefits to bonuses just for being a nurse, there are endless opportunities to maximize your pay and make your travel nurse journey what you’ve always dreamed of. So, what are you waiting for? Apply today and let our recruiters get you where you want to go.
Learn more: