Financial benefit of being a Travel/Agency Nurse?

[ImKosher]

During my time at a busy ER on the East Coast, I was blessed with the oppurtunity to meet many great and awesome RNs who worked hard and had passion behind what they do. This is the reason I went back to school and I am graduating this May. I got a position in the ER I work at and will be for two years and then traveling.

I got into a discussion with a good friend and she cannot comprehend making great money as a Travel nurse. She does nto believe the fact that a Travel nurse can make more than 100k a year. I explained the tax-free home stipend and how you can manipulate this with your hourly and OT to take more home that is tax-free but I am now interested in the math. I am not asking how much you make but rather the math on how a traveler makes good money, including the home stipend (with or without housing), hourly rate, and other compensation like benefits.

I think I may be turning into a number nerd. Any input would be appreciated. Thank You!

[NedRN]

I think you can compare it with shopping for a car for the first time, or indeed any other product. A bit of research, visiting a few competitors to determine basic price ranges, and then you have some information with which you can pick the best vendor and negotiate sticking points. A referral is just a starting point.

Negotiation requires information and I've tried to supply some salient points based on your posts. You are interested in overtime, and I'd bet you don't want to make less for overtime than for base hours. That is what happens if you accept $40 an hour for overtime. Agencies look after their own interests, and a bit of basic math should show them that if they want to make more money off of you, it is in their best interest to encourage you to work overtime.

If you have interviewed already and the hospital wants you, you now have some power to negotiate details of your contract. If you turn down this contract, the chances are that a competing agency will now place a traveler there, and your agency will have lost around $5,000 in gross profits, not including anything extra from overtime.

You do know how to negotiate, you do it daily with your husband, your employer, and shopping. It is a give and take, and both parties contribute. If not this assignment, then the next one, but do get more agencies involved. Your negotiating power is limited if you are married to one agency (which is why real marriages can be difficult at times).

[jodyangel, RN]

I signed the contract Ned. I am obligated. Now if I can find a place to lay my head without sacrificing too much $$$ I'll be gold.

[jodyangel, RN]

...actually tho I haven't emailed the contract back. Am I obligated?

[NedRN]

No you are not - not final until you've agreed to all the terms. And it is always possible to amend a contract afterwards as well. "Hey, I'm at the assignment and there is lots of OT available. I'd be happy to work more if the OT rate was better".

[jodyangel, RN]

Ok good to know. I am now looking for a room. $1000/ month for an extended stay. No good lol. Chatting via text to someone now who wants to rent a small room for $400/ month.