Published Mar 16, 2017
8-ball, BSN
286 Posts
So I have a recruiter who when going over assignments for pay and things like that he actually gives me his billable rate that the agency gets. At first I was really excited about the transparency but then I ask what that equates to for me and his answer was "it depends on your tax filing" "but if you file 0 dependents (like I do)" then pay should be about $x amount gross. Basically my question is is there a way to figure out how much they are making vs how much I am making? I was trying some things with the Pantravelers site but its eluding me. Math isn't my strong suit but I can usually figure it out. I have never actually traveled with this company before but looking at them for a new company.
Example
billable rate=$50/hr
My weekly gross=$1900/week (with stipends and everything)
NedRN
1 Article; 5,782 Posts
Currently the industry average gross profit margin is nearly 25%. So take the bill rate, multiply times the number of hours, and subtract 25%. That is your total pay per PanTravelers calculator method.
From the other direction, take your total pay per PanTravelers, add 33%, and that is the bill rate.
Assuming whatever agency this is right on the industry average. Muddling up the math is the fact that agencies may have a gross profit margin of 10% to 50% (sometimes even more). Generally the more competitive the specialty, the higher the margin. So a medsurg nurse is more likely to get a higher percent of the bill rate than an L&D nurse, but not as much money per hour for sure.