Travel nursing is an exciting and dynamic field, offering professionals the opportunity to explore new locations, work in diverse settings, and meet a myriad of challenges head-on. However, navigating the world of travel nursing contracts and negotiations can be daunting. With events like TravCon, travel nurses are equipped with the tools and insights they need to thrive.
TravCon: More Than Just a Conference
Las Vegas, the city of lights and entertainment, is set to host yet another spectacular event from September 17th to the 20th. TravCon, hailed as the event of the year for travel healthcare professionals, promises to be more than just a conference. But what exactly sets it apart?
A Sense of Community: At its core, TravCon is a celebration of camaraderie and shared experiences. It’s not merely a place to attend lectures but a vibrant community where travel nurses can engage directly with recruiters. This face-to-face interaction allows nurses to gain a genuine understanding of the companies they might work with, fostering trust and transparency. One attendee aptly remarked, “My favorite thing about TravCon is meeting all the recruiters personally so I can get a real feel for how these companies actually are.”
Learning and Growth: TravCon is a hub of knowledge, catering to both newcomers and industry veterans. For those just starting their journey in travel healthcare, the conference offers a “newbie boot camp,” a comprehensive guide to becoming a successful traveling healthcare worker. But it doesn’t stop there. Seasoned professionals also have a range of classes tailored to their needs. As one attendee highlighted, “We have a newbie boot camp that walks you through how to successfully become a traveling healthcare worker. Don’t worry, though; we have a lot of classes for veteran travelers, too.”
Networking Opportunities: TravCon is more than just recruiters and nurses. It’s a melting pot of diverse professionals, from credentialers to allied staff. This diversity offers attendees a unique opportunity to broaden their horizons, learn from different perspectives, and make long-term connections. As one participant joyfully shared, “Nurses, recruiters, there are credentialers here; there are a bunch of people here. Look around; you might just meet your new best friend.” And for romantics, there’s always the chance of finding more than just a professional connection. As one hopeful attendee mused, “This is my second TravCon. I plan to go see everyone until I die. Hopefully, I can find my wife here someday.”
Entertainment and Rewards: TravCon isn’t all work and no play. Attendees can expect a plethora of entertainment options, ensuring their experience is both educational and enjoyable. From engaging games at various booths to luxury giveaways, there’s something for everyone. One lucky attendee shared her excitement, saying, “I got to enter to win a Chanel bag, a Louis Vuitton bag, and a Gucci bag. Lots of stuff!” Such rewards, combined with the enriching sessions and networking opportunities, ensure that TravCon remains an unforgettable experience for all its attendees.
Negotiating Like a Pro with Laura Latimer
Laura Latimer, the founder of Nomadicare and a seasoned member of the TravCon committee, offers invaluable insights into the art of negotiation, especially tailored for travel nurses.
Understanding the Landscape
In the dynamic world of travel healthcare, the negotiation process is akin to a puzzle, with various pieces coming together to form the complete picture. Each piece, or player, has a distinct role and influence on the outcome of a contract. Let’s delve deeper into these key players and their roles:
Travelers: At the heart of this landscape are the travelers. These are dedicated professionals like you who are on the lookout for the best assignments that align with their career goals and personal preferences. As Laura Latimer highlighted, a traveler’s journey often begins with a destination in mind, such as Arizona. However, without the right information, especially regarding the bill rates offered by hospitals, travelers might find themselves at a disadvantage during negotiations.
Recruiters: Acting as the crucial link between travelers and healthcare facilities, recruiters play a pivotal role. They are privy to information that travelers might not have direct access to, such as the different bill rates offered by hospitals. When a traveler expresses a desire to work in a specific location, it’s the recruiter who presents the available job opportunities. However, a word of caution from Laura: when recruiters inquire about your expected pay, it’s essential to tread carefully. Instead of providing a direct figure, it’s more strategic to express a desire to earn the maximum possible based on the bill rate.
Recruiter Managers: These are the individuals who oversee the recruiters and have a broader view of the company’s operations and margins. They have the authority to adjust the company’s cut to accommodate a traveler’s pay request. For instance, if a recruiter has already offered the maximum they can, they might approach the recruiter manager to see if the company can take a lower cut, thereby increasing the traveler’s pay. This flexibility often depends on the traveler’s relationship with the agency, their track record, and the company’s assessment of the traveler’s value.
Facilities: These are the hospitals or healthcare centers in need of the travelers’ expertise. Each facility has its own budget and offers a specific bill rate, which is the amount they’re willing to pay per hour for a traveler. This bill rate is then divided among various costs, including the traveler’s pay. It’s worth noting that facilities can sometimes be negotiated with, especially if they are keen on hiring a particular traveler. If a traveler feels that the pay being offered is not commensurate with the facility’s bill rate, the recruiter or account management team can approach the facility to negotiate a higher bill rate.
Deciphering the Negotiation Puzzle
Venturing into the world of travel nursing, especially in a desired location like Arizona, presents a unique set of challenges. One of the primary hurdles is understanding the intricacies of bill rates. These rates, set by hospitals, determine how much they’re willing to pay for a traveler’s services per hour. In our hypothetical scenario, three hospitals in Arizona are offering assignments, each with a distinct bill rate.
Hospital number one offers a bill rate of $75 an hour; hospital number two is slightly higher at $80; and hospital number three tops the list with a $90 hourly rate. These rates are crucial, as they dictate the potential earnings a traveler can expect. However, there’s a catch. Travelers eager to secure a position, often remain in the dark about these rates. Only recruiters are privy to this information, adding a layer of complexity to the negotiation process.
When a traveler approaches a recruiter with the intent to work in Arizona, the recruiter, armed with knowledge of the varying bill rates, might pose a seemingly simple question: “How much do you need to make?” This question, while appearing straightforward, is laden with implications. If a traveler, unaware of the different bill rates, provides a figure that aligns with the lowest rate, they might inadvertently shortchange themselves, especially if they could have been placed in a hospital offering a higher rate.
For instance, if a traveler expresses a willingness to work for a package that fits the $75 bill rate, but there’s an available position at the hospital offering $90, the recruiter faces a decision. They could pocket the difference as additional profit, benefiting from the traveler’s lack of information, or they could offer the traveler a more lucrative package in line with the higher bill rate.
This dynamic underscores the importance of not immediately divulging a specific desired amount. Instead, savvy travelers should express their intent to earn the maximum possible based on the available bill rates. By doing so, they place the onus on the recruiter to provide offers that genuinely reflect the best available rates, ensuring that they aren’t shortchanged due to a lack of information.
In essence, the negotiation process in travel nursing, especially in a competitive market like Arizona, is akin to piecing together a puzzle. With varying bill rates, recruiter dynamics, and the traveler’s own aspirations at play, understanding the landscape is crucial to ensuring a fair and beneficial outcome for all parties involved.
Strategies for Successful Negotiation
Avoid Direct Answers: Navigating the world of travel nursing contracts can be intricate, especially when it comes to discussing pay. When recruiters pose the seemingly simple question about your expected earnings, it’s essential to tread carefully. Laura Latimer, a seasoned traveler and founder of Nomadicare, suggests that instead of providing a direct figure, travel nurses should express their desire to earn the maximum amount possible based on the bill rate. By doing so, you’re not only safeguarding your interests but also ensuring that you’re not shortchanged based on varying hospital bill rates.
Research and Compare: The travel nursing industry often operates through a VMS or MSP system, where multiple staffing agencies have access to the same job listings with identical bill rates. This setup provides an opportunity for travel nurses to compare offers from different agencies. Laura emphasizes the importance of speaking to more than one recruiter to get a comprehensive view of the pay landscape. Additionally, job boards can be invaluable tools. They not only offer a snapshot of available positions but also provide transparency on pay rates, allowing you to gauge the average pay for your specialty in your desired location.
Maximize Tax-Free Earnings: Your pay package as a travel nurse comprises various components, including taxable wages and tax-free stipends. The latter, which covers housing and meals, is particularly crucial. Instead of immediately focusing on increasing your taxable wages, prioritize maximizing these tax-free stipends. Websites like gsa.gov provide guidelines on the maximum allowable tax-free stipends based on location. By ensuring you’re receiving the maximum stipends, you’re effectively boosting your take-home pay without increasing your tax liability.
Bonuses and Incentives: At first glance, end-of-assignment bonuses can seem like a lucrative proposition. However, there’s more than meets the eye. Such bonuses are often taxed at a higher rate than regular hourly wages. Laura suggests a strategic approach: instead of waiting for a lump-sum bonus at the end of an assignment, negotiate to incorporate that amount into your hourly rate. This method not only provides consistent increased earnings throughout the assignment but also ensures you’re not hit with a hefty tax on a one-time bonus.
Empowering Travel Nurses
The world of travel nursing is filled with opportunities and challenges. With insights from experts like Laura Latimer and platforms like The Gypsy Nurse and TravCon, travel nurses are better equipped to navigate contract negotiations and secure the best deals. Remember, knowledge is power, and understanding the nuances of negotiation can make all the difference in your travel nursing journey. Secure your future by mastering the art of negotiation and making informed decisions.
Interested in a travel nursing job? Our job board is a great place to search for assignments, and if housing is an issue, our housing page can help. It’s time to make a difference!
