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!

If you are a new travel nurse or looking into becoming a travel nurse:

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Travel Nurse Guide: Step-by-Step (now offered in a PDF Downloadable version!)

There are multiple variables to consider when you’re looking at travel nurse contract negotiations between yourself and your travel nurse recruiter/company. The ultimate outcome should be a win-win situation for both parties. The recruiter wants to make a good commission, the travel company has parameters required for profit and you want the most that you can get. So where do you start?

In order to negotiate a travel nurse contract, it’s important to understand what your negotiating parameters are. First, you need to understand that all of your compensation, benefits and reimbursements will come from one source. This source is the Bill Rate. You may have never heard the term before and it’s important before you begin contract negotiations that you Understand the Bill Rate. In this post, I compared the bill rate to a pie. The following are all pieces of the pie that you will consider as you begin contract negotiations.

Basic Elements of Travel Nurse Contract Negotiations

There are 7 Basic elements to travel nurse contracts:

Travel Reimbursements
Licensing Reimbursements
Benefits
Housing
Salary
Tax-Free
Overtime

Travel Reimbursements

This is covered in a separate posting titled Making sense of Travel Reimbursements. I would suggest if you haven’t read it already, that you read it now and make sure you understand the different types of travel reimbursement available.

Licensing Reimbursements

It is not a given that a travel nurse agency will offer this as part of your package/contract. Licensing can become a significant financial consideration for travel nurses. There are licenses that are very cheap and others that can be quite costly. If you require license reimbursement, it is important to consider that this cost will come out of your part of the pie. It’s also important to remember that this cost can be utilized as a deduction on your end of year taxes if you choose not to have the travel company provide a reimbursement. Check the individual State Boards for specific licensing information.

Benefits

Benefits are a complicated matter. I’m not going to go into this much. You can ask your recruiter about benefits offered and if there is any effect on your payment package if benefits are selected. Some companies will offer a monthly tax-free allotment for personal health insurance if they do not offer health insurance or if you choose to maintain your health insurance privately.

Housing

Travel Nurse Housing is a big portion of your slice of the pie; second only to your salary/hourly rate. This is where your wants/needs can play a factor in your negotiations. If you require to be downtown Manhattan (for example), your housing costs are going to be significant higher; resulting in a lower amount of the ‘pie’ left for salary, transportation, etc. Other factors, beyond location that may affect housing costs can include: area of the country, availability of furnished housing, pet-friendly housing, personal requirements (garage, washer/dryer, etc).

There are two considerations when looking at housing. You can take the company provided housing or you can receive a housing stipend and arrange housing on your own. There are advantages and disadvantages to both. It is important to note that although you may be able to pocket some extra money by taking the housing stipend, there are significant tax issues that you must comply with in order to be eligible to receive the housing benefits tax-free. Read more about your housing options in the 3 part “Where will I live” series of posts.

EXPERT TIP: BEFORE YOU’RE EVEN SUBMITTED FOR A SPECIFIC POSITION, YOU SHOULD HAVE TRAVEL NURSE CONTRACT NEGOTIATIONS INITIATED.

Salary

Now that you know what else is coming out of your part of the pie, you can look at your hourly rate. You probably have a minimum amount that you have pre-determined that you need to make hourly. If not, you should figure out what that is. We discussed this in Needs/Wants.

It’s obvious that you want to get the best salary possible. It’s time for you to look at the other parameters above and figure out which ones you are willing to bend a little on. Do you really need the licensing reimbursement? How will it affect your take home pay if you don’t take it? Is it worth an extra $0.50/hr to take care of these costs yourself and take it as a deduction on your year-end taxes? I have found that for my-self, I prefer to take a less amount of ‘benefits’ and a higher hourly rate. I can generally make up for any loss of benefits either through weekly salary or the year-end tax benefit.

Tax Advantage / Tax-Free Payments

Tax advantage is an industry term that is complicated to understand due to each individual companies interpretation of the plan. To put it in a nutshell; it’s an amount of your hourly wage that is tax-free. Why should you get tax-free monies? You can read more about tax-free here but basically, it’s the same as a corporate employee working a short time in another area ie for convention, meetings, etc. The employee (due to being away from home on temporary assignment) is allowed tax-free benefits.

EXPERT TIP: TAX EVASION AND MISREPRESENTATION ARE RAMPANT IN THE INDUSTRY. KNOW WHAT YOU CAN AND CANNOT CLAIM LEGALLY TO AVOID ANY AUDIT ISSUES.

The government has developed an amount for each area of the country that is maximumly allowable for meals, lodging and expenses. This is generally referred to as the GSA. If you take the company provided housing you are not eligible for the lodging portion of this. Most companies will break down the meals/expenses portion of this into an hourly amount. I will warn you that there are many variables to consider when accepting this tax-free amount and many companies will utilize a wage re-structuring which is by all intents and purposes illegal and could get you into serious issues with the IRS.

If you need more information, please consult a tax expert.

Overtime

If you have no intentions of working any overtime, ever; you can skip this part. However, if your like me and want as much overtime as possible; this is an important negotiating point.

Some companies will negotiate overtime rate separate from the contracted hourly rate. The following information is important and armed with it will help you negotiate for a higher overtime rate. Why? This is because all of your expenses/benefits are covered on the travel nurse agencies part in the contracted amount of hours. Any hours that you work over the contracted amount are simply a benefit (and increased revenue) for the travel nurse agency. Most companies will offer you time and half of your base rate (minus any tax-free amounts) for overtime. I always negotiate for a higher overtime rate and if the travel agency will not budge on this; I remind them that me working overtime is not only beneficial for me…but for them as well.

So now that your armed with some basics of pay-structure, you’re ready to start your travel nurse contract negotiations. Before your even submitted for a specific position, you should have most of these items negotiated. You should know what your pay is going to be, what type of housing you will be living in (or how much the company is offering for housing stipend), what benefits are available, etc.

Travel Nurse Salary: A Comprehensive Guide

Navigating the world of nursing can be both rewarding and complex, with one of the most dynamic career paths being that of a travel nurse. This profession not only offers the opportunity to explore new places but also brings with it a unique salary structure. Let’s delve into the specifics of travel nurse salary and understand how it compares to traditional nursing roles.

Factors Affecting Travel Nurse Salary

The traveling nurse salary can vary based on several factors:

a. Specialty and Experience

Just like in traditional nursing roles, the more specialized your skills and the more experience you have, the higher the pay. Nurses in high-demand specialties like ICU, ER, or Labor & Delivery often command higher salaries.

b. Location

The location of the assignment can significantly affect the travel nursing salary. Positions in cities with a higher cost of living or those facing an acute nursing shortage may offer better compensation.

c. Assignment Duration

Though most assignments are around 13 weeks, some can be shorter or longer. The duration can influence the pay rate.

Average Travel Nurse Salary

The average travel nurse salary can be somewhat challenging to pin down because of the many influencing factors. However, as of recent data, travel nurses can expect to earn anywhere from $1,100 to over $3,000 per week, depending on the variables mentioned above. This means that annually, a travel nurse can earn between $50,000 to over $100,000. When comparing this range to the average salary of traditional staff nurses, it’s evident that travel nurses often have the potential to earn significantly more.

Additional Perks and Benefits

It’s worth noting that the travel nursing salary is just one component of the total compensation package. Travel nurses often receive:

a. Housing Stipends or Provided Housing

This is a major perk as it reduces the financial burden of living in a new city.

b. Travel Reimbursements

Many agencies will cover the cost of moving from one assignment to the next.

c. Bonuses

Some assignments come with sign-on or completion bonuses, adding to the overall earnings.

d. Benefits

Like health insurance, retirement plans, and professional development opportunities.

Travel Nurse Practitioner Salary

For those considering advancing their career, becoming a nurse practitioner (NP) can be an attractive option. The travel nurse practitioner’s salary is typically higher than that of a regular travel nurse. Depending on the specialty and region, travel NPs can earn between $2,500 to $4,500 per week.

What is a travel nurse contract?

What can you negotiate?

What can you NOT negotiate on your travel nurse contract?

What are the current market trends in travel contracts?

What are AB Staffing tips for a successful negotiation?

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TravCon: More Than Just a Conference

Negotiating Like a Pro with Laura Latimer

Understanding the Landscape

Deciphering the Negotiation Puzzle

Strategies for Successful Negotiation

Empowering Travel Nurses

If you are a new travel nurse or looking into becoming a travel nurse:

Travel Nurse Guide: Step-by-Step (now offered in a PDF Downloadable version!)

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Basic Elements of Travel Nurse Contract Negotiations

There are 7 Basic elements to travel nurse contracts:

Travel Reimbursements

Licensing Reimbursements

Benefits

Housing

Salary

Tax Advantage / Tax-Free Payments

Overtime

Travel Nurse Salary: A Comprehensive Guide

Factors Affecting Travel Nurse Salary

a. Specialty and Experience

b. Location

c. Assignment Duration

Average Travel Nurse Salary

Additional Perks and Benefits

a. Housing Stipends or Provided Housing

b. Travel Reimbursements

c. Bonuses

d. Benefits

Travel Nurse Practitioner Salary

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