Travel nursing has so many perks – one of them being great pay. However, things like your assignment location and housing situation can affect how much money you can make. So, we’ve gathered the best information to help you maximize your money as a travel nurse.
Be flexible with your location
When it comes to deciding on location and maximizing your money, flexibility is key. While searching for your next assignment, keep in mind that pay rates tend to reflect the cost of living in that location. So, simply put, the higher the pay rate – the higher the living expenses (and vice versa). Do some research about your potential new state and find a perfect balance for you.
States with higher paying contracts include:
- New York
- New Hampshire
- Pennsylvania
- Wyoming
- West Virginia
- Massachusetts
States with lower paying contracts include:
- Arkansas
- Idaho
- Kentucky
- Texas
- Oklahoma
- North Carolina.
Save money with housing
Housing is where you can really start to save money. Take advantage of your tax-free stipend and look for housing that will fit your price point. Figure out your “must-haves” and finalize your budget. If you’re really concerned about maximizing your income, split your housing expenses. Rent out a room, live with a family member, or reach out to your agency to see if they know anyone looking for a roommate in the same area. Sharing this recurring cost can help any travel nurse make the most of their money.
If you have to live alone, or need specific accommodations due to a furry friend, talk to hotel managers and Airbnb hosts directly. With Airbnb you can sometimes negotiate a better monthly deal and cut down third-party fees. With hotels, some offer extended-stay discounts for travel nurses.
Work overtime
Working overtime allows travel nurses to really maximize their money. Look for assignments that offer overtime already in their pay package – like 48 hour contracts. And keep an eye on hospitals that pay overtime after 36 hours! Just be cautious of your limits. If you’re feeling overworked or burnt out, make sure you take the necessary time off to recover. This way you provide yourself and your patients with good care.
Have an up-to-date profile
Going after high-paying contracts means you’re also going up against fierce competition. You’ll want to be able to market yourself as the best travel nurse for the job. One way to do this is by making sure your profile and resume is up-to-date. Then, keep these documents on hand so you can respond to those hot jobs quickly. The faster you’re able to get your information to your recruiter, the higher your chances are of securing that job.
Speak with your recruiter
Lastly, communicate with your recruiter. Ethos Medical Staffing has top-notch recruiters that are here for you 24/7. Let them know what assignments you’re looking for, if you need a completion bonus, or are looking to negotiate your current hospital’s rate. Our recruiters are here to help every step of the way.
Travel nursing can be a great way to maximize your money while doing something you love. Now that you know how to use factors like location and housing to your advantage, you can get the most out of your next assignment. Happy searching!
Ready to find your highest paying contract? Work with Ethos today! Apply now.
