Travel nurses are licensed healthcare professionals who work in temporary positions across the country (and the world). These nurses usually work for travel nurse agencies that find open contracts for them. Nurses choose this career path because it allows them to explore new places, gain experience in different healthcare settings, and most importantly – unlock a much higher earning potential. But, how much can travel nurses actually earn?
This guide will equip you with everything you need to know about travel nurse agencies and travel nurse salaries. We’ll take a look at the factors that influence your pay and offer tips on maximizing your income as a travel nurse.
Table of Contents
What is a Travel Nurse Agency?
Travel nurse agencies act as middlemen between healthcare facilities and nurses seeking temporary assignments. Travel nurse agencies specialize in connecting nurses with short-term contract positions across the country.
These agencies help nurses find assignments that match their personal preferences within understaffed healthcare facilities. They’ll handle everything for the nurse, like negotiating contracts and credentialing.
Nurses partner with travel nurse agencies because they offer more support and take on all of the harder parts of finding assignments. They will also offer more support to the nurse through things like finding housing, handling taxes, and offering clinical support.
By partnering with travel nurse agencies, nurses gain access to a wide range of jobs, receive competitive pay, and enjoy the freedom to explore new areas.
Understanding Travel Nurse Salaries
Before we start talking about specific numbers, it’s important to understand how travel nurse salaries are typically reported. Unlike traditional staff nurses who receive a fixed salary or hourly rate, travel nurses are usually compensated on a weekly basis. Some contracts will also include tax-free stipends and extra benefits packages.
Here’s a quick breakdown of key terms to keep in mind:
- Average vs. Median Salary: The average salary is the sum of all salaries divided by the number of nurses. The median salary represents the middle point of all salaries when arranged from highest to lowest. For travel nurses, the median salary provides a more realistic picture of earnings. Some nurses may command higher salaries based on factors like specialization. We’ll talk more about that later.
- Gross vs. Net Pay: Gross pay is the total amount earned before deductions, while net pay is the take-home pay after deductions are withheld.
- Stipends: Stipends are tax-free, and are usually provided by the travel nurse agency to cover specific expenses.
What Makes Up a Travel Nurse’s Income?
Now that we have established key terms, let’s dive into the components of a travel nurse’s paycheck. According to an article by Nurse Journal travel nurses earned a gross average weekly salary of $2,183 as of June 20th, 2024. This translates to about $54 an hour on a standard 40-hour work week. However, there is potential for earning significantly more than this.
Let’s talk about the factors that go into travel nurse salaries.
What Factors Affect Nurse Salaries
Travel nurse salaries can be impacted by several factors:
- Specialty: Certain specialties, like critical care, neonatal intensive care (NICU), and anesthesia, are in higher demand and often receive higher pay rates than other specialties.
- Experience: Travel nurses with more experience, especially in high-demand specialties, can negotiate higher hourly rates.
- Location: Hospitals in rural communities are facing a significantly higher nursing shortage than healthcare organizations in cities. Because of this, they tend to offer higher wages so they can attract qualified talent. Travel nurse pay also varies a lot from state to state.
- Facility Type: Compensation can vary between hospitals, clinics, long-term care (LTC), and other healthcare settings. Generally, larger hospitals tend to offer higher salaries.
- Contract Length: Shorter contracts, especially ones for crisis situations, often come with higher hourly pay to incentivize nurses to take on these challenging assignments. On the other hand, longer contracts may offer lower hourly rates, but they come with guaranteed hours, and more stability for travel nurses.
- Shift differentials: Working nights, weekends or holidays can qualify travel nurses for additional pay in the form of shift differentials.
- Tax-Free Compensation: one of the biggest advantages of travel nurse agencies is the inclusion of tax-free stipends in your compensation package. These stipends can cover housing, meals, and other travel expenses.
- Benefits Packages: Some travel nurse agencies like Cascade Health Services offer benefits packages that can include health insurance, 401(k) programs with employer matching, and disability insurance.
Why Should Travel Nurses Specialize?
Travel nurses are already in high demand and they earn more than a normal staff nurse would. But, specialized nurses have the opportunity to earn even more. Let’s take a more in-depth look at which specialties can lead to the highest pay:
Higher Average Salaries
Certain specialties require advanced training, expertise, and the ability to handle more complex medical situations. Hospitals are willing to pay more for travel nurses who have specialized skill sets. We wrote a blog that goes into more detail about the specifics of in-demand nurse specialties. But in general, the more specialized nurses become, the more money healthcare companies are willing to pay.
Increased Job Security
The demand for qualified nurses just keeps growing. By specializing travel nurses can position themselves as a more valuable asset to healthcare facilities nationwide. This can translate to a wider range of job opportunities and increase job security because there are fewer specialized nurses than needed. This is especially true in already understaffed areas like rural hospitals.
Enhanced Career Development
Specialization allows you to deepen your knowledge and refine your skills within specific areas of nursing practice. This can help open more doors for career advancement, like mentorship roles or educator positions.
Here are a few nursing specialties that travel nurse agencies always need:
- Critical Care: Critical care nurses work in intensive care units (ICUs) caring for critically ill patients with life-threatening conditions. They require knowledge of critical care principles, advanced life support measures, and proficiency in operating complex medical equipment.
- Neonatal Intensive Care (NICU): NICU nurses provide specialized care to premature or critically ill newborns. This specialty demands a high level of compassion, attention to detail, and expertise in caring for fragile infants and their families.
- Anesthesia: Travel nurse anesthetists work alongside surgeons and other medical professionals to administer anesthesia during surgical procedures and ensure patient safety throughout. This highly specialized field requires a master’s degree and extensive clinical training. Because anesthetists require a lot more education, they tend to rank pretty high in average pay for travel nurses.
- Emergency Room (ER): Travel nurses specializing in emergency care need to love fast-paced environments, quickly assessing and stabilizing patients with a wide range of acute illnesses and injuries. Strong critical thinking skills and the ability to remain calm under pressure are crucial for success as an ER nurse.
- Operating Room (OR): OR nurses work alongside surgeons and surgical teams to ensure a sterile environment, prepare necessary instruments, and assist surgeons during procedures. This specialty demands a keen eye for detail, excellent hand-eye coordination, and a strong understanding of surgical procedures.
While these are just a few examples, numerous specialties within travel nursing offer high earning potential and rewarding career paths. Consider your areas of interest, research salary trends for different specialties, and explore opportunities to gain specialized skills and certifications. If you want to learn more about the most in-demand nurse specialties, check out this blog we wrote about them.
Why do Travel Nurses Make More Than Staff Nurses?
Travel nurse agencies pay a higher rate than a staff nurse would make to help keep a healthcare facility staffed. Travel nurses give up a lot of their personal life, and tend to have to pay more to rent somewhere to live for a short period of time.
They will also make more than a staff nurse because their specialty is in high demand. Nurses in general are needed across the United States, and specialized nurses are even harder to come by. Healthcare organizations are competing with each other to find specialized nurses which increases the pay even further.
Travel Nurse FAQ’s
Can You Be a Travel Nurse in Your Own City?
Yes! Travel agencies like Cascade Health Services have local and travel contracts available! Keep in mind you may miss out on some of the per diem that you would receive to find housing. However, it is still an extremely lucrative way to make more money as a nurse.
Do Travel Nurses Get Free Housing?
Travel nurses usually have to find their own housing. However, some contracts come with per diem to help pay for living expenses, like housing.
How do Travel Nurses Find Housing?
There are a lot of great resources to find the right place to stay during your assignment, but some of the most popular places are extended-stay hotels, Airbnb, and Furnished Finder. Keep your eye on traveling nurse groups for posts from people looking for roommates to split rent with, or for people with extra rooms available!
How Much Do Traveling Nurses Pay For Rent?
Rent will vary depending on the location you are going to stay in. Keep in mind that short-term leases usually cost more than if you signed a year-long lease, so make sure you have a clear understanding of your rent for a shorter time.
Rent will also vary depending on which type of housing you decide to stay in. Renting an extra room is oftentimes the cheapest option, but it comes with the negatives of sharing a temporary space with more permanent residents. A lot of travel nurses gravitate towards Furnished Finder and extended-stay hotels.
Which Travel Nursing Specialties Are in Demand?
ICU nurses are the most in-demand nurse specialty in 2024, however, telemetry, OR, and Med Surg are also extremely popular. Check out our blog about the most in-demand nurse specialties.
Can LPNs be Travel Nurses?
LPNs can travel too! Most contracts will require at least a year of experience to travel.
How Long Do Traveling Nurses Stay In One Place?
Contract lengths can vary based on facility needs but are usually between 2 to 26 weeks. Most contracts are 13 weeks long, but the opportunity to extend your contract can be available. No matter how long you are willing to stay, the odds are that you can find a contract somewhere.
Where do Travel Nurses Stay?
Depending on how far away they are from their assignment they will stay in different places. If it’s a local contract they will usually stay in their home, or at a friend’s house that is closer to their assignment.
If the nurse is going to a different state, or somewhere further away from home, they may rent a short-term lease apartment or stay in an extended-stay hotel. Check out our blog with tips and tricks for finding the perfect place to stay.
What do Travel Nurses do?
Travelers go to different healthcare settings across the country or world to help facilities that need help. Facilities may request help because of higher patient demands, internal restructuring, or any reason that a facility could be down a team member. They work within the facility for a pre-determined amount of time to support them through their challenges. Depending on their specialty and facility type their job will change with each contract. Nurses like traveling because it keeps the job exciting and new.
How Does Travel Nursing Work?
Nurses apply for a travel nurse agency, and a travel nurse recruiter will reach out to them to help find the best options for them. You can also check travel nurse job boards to see a list of contracts available, and then reach out when you know what job you want.
After you find the contract you want, you’ll have to apply and interview for it. You’ll learn more about your specific role, pay, and ultimately make the decision if it’s the right fit for you.
How Long Does it Take to Become a Travel Nurse?
Besides a nursing degree, most contracts require a year or more experience to be considered for the role. This is mostly to make sure you are completely comfortable with your job before you get thrown into a new environment for the first time. Once you meet the requirements it doesn’t take more time to get a job traveling than it does to get a normal nursing position.
How do You Become a Travel Nurse?
You can work in this field the same way you get any other job, you just have to meet the job requirements, and apply! After that, a recruiter will reach out to you and help you find the best fit!
The Choice is Yours
Travel nurse agencies offer a dynamic and potentially lucrative career path. By understanding the factors influencing salaries, such as specialty, experience, location, and contract length, nurses can make better decisions to maximize their earning potential.
While the promise of higher pay is undeniable, it’s essential to weigh the benefits against the challenges of a travel nursing lifestyle. Specializing in high-demand areas can significantly boost earnings and job security.
Ultimately, the decision to pursue travel nursing is a personal one. By carefully considering your career goals, financial needs, and personal preferences, you can determine if this exciting path is right for you.
