Completion bonuses?

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Specializes in Critical Care.

Are you guys finding that completion bonuses are being offered less and less, or am I just not going to the right place? I'm in the process of signing up for a short distance (120 mile) contract. The initial offer was for a different place with a 2000 dollar completion bonus, but that got filled. Recruiter said if I wanted to they could decrease my hourly and give me the difference as a bonus at the end. Was just wondering if anyone does that...I'm new to all this, this will be my first travel assignment. Bonus is not the end all of work, but if you're like me and aren't good at saving money (hehe) then it's very attractive.

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Completions bonuses are not actually a good thing in my opinion for many reasons. They are taxed at a much higher rate since it is considered non-earned income for one. And it means that you are getting paid a lesser amount, so if you work overtime, it is also going to be a lesser amount. Always better to get it rolled into your pay to get the highest amount of money in your hands.

I would never consider an assignment that had a completion bonus, nor any agency that only paid like that; all they are doing is splitting up what is due to be paid to you in the first place. No reason that you should have to pay increased taxes on it, or wait until the end to get the money when you could be getting it all along.

And there is no difference in anything if it is a travel assignment, whether short distance as you call it or long distance from your tax home. But an additional question for you is if you are going to be commuting to work, or staying in an apt or hotel when you are away from home? If you are not away from home, then the per diem is not available for you.

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Specializes in Tele/stepdown, cardiac, dialysis.

I did an assignment where a completion bonus was offered. It wasn't through the company, but directly through the hospital. I didn't have any change in my pay rate (i'd done other assignments for this company). The only problem is since it's from the hospital, they are taking thier sweet time paying it out. I'm not reallly there top priority I'm sure, but they need to pay me my money. And it's not me I've heard the same situation from other travelers.

If there is a completion bonus in question clarify if it's from the hospital or the company. From the company: they are probably taking away from your money somewhere else. From the hospital: they have to pay it, b/c it's in your contract, but don't hold your breath, b/c it may take a while.

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Specializes in Peds, ER/Trauma.

Be careful- I have also heard horror stories from many travelers who had their contract cancelled a week before it was due to be over so that the hospital wouldn't have to pay out the completion bonus. I'd rather just take the higher hourly rate.....

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Specializes in Emergency.
Be careful- I have also heard horror stories from many travelers who had their contract cancelled a week before it was due to be over so that the hospital wouldn't have to pay out the completion bonus. I'd rather just take the higher hourly rate.....

I agree 100% with this.

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I was told by a travel nurse working at the hospital that she was pd a base of $20 per hour and then if she worked 36 hours each week she got a bonus. Total she was making $45 per hour plus pd mileage ang hotel expenses. She said that she only had to pay taxes on the $20.00 per hour. Is that correct? Wouldn't she have to pay taxes on the bonus too?

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Specializes in Peds, ER/Trauma.

Bonuses are taxed. The "bonus" you friend was referring to was probably not really a bonus, but a tax-free stipend. Tax-advantage programs like this are common in travel nursing.

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