Financial benefits of travel nursing: real or imagined?

[DetC]

So we've all heard about what great pay travel nurses make. But my experience as a travel nurse has been anything but. I've been traveling for about 2 years, permanent staff for 2.5 before that. I came out of school making $900/wk after taxes in one of the lowest paying states for nursing. Yes I was working weekend nights, but I frequently do that as a traveler as well. In my experience as a traveler (with multiple companies) you can expect to make $1000-1600/wk for the standard 3 12s. Once you subtract housing expenses (remember you have to pay for two places to live now) plus mileage or moving expenses you're down to an extra hundred bucks or so a week. The longer I do this, the harder it is for me to find the upside. So someone please explain to me, what are the financial benefits to travel nursing? I'm obviously missing something.

[Soliloquy, MSN, APRN, NP]

That's why it's best not to do it for the money? :)

You can have the company set up housing for you and that way you only pay for one bit housing. Rent out your old place but keep a little of that payment for yourself so that you still have a tax home and ties to that place. Negotiate a higher weekly rate while taking company housing too. Honestly, people do make more than the weekly you're stating. Negotiate.

[NedRN]

What do you mean "only an extra hundred bucks or so"? If you are talking $200 a week take home, that is an extra $10,000 a year in the bank. Do you know how many people save $10,000 a year? At a real job, taking home an additional $10,000 requires a $15,000 bump in gross annual income.

I save considerably more than that every year but no doubt I make different lifestyle and job choices than you do. Nevertheless your own post destroys your premise.

If you are really not making enough to make you happy and are not enjoying traveling, go staff. Problem solved!

[Argo]

I am now working 36 hours taking home just a little more($200 biweekly) than what I did working 40 at my staff job. The taxes are the main thing that save money for me. My main goal isn't dollar based, it is to get away from the BS of being a staff nurse for the hospital. I have primarily been in management/admin positions for the past 8 years and have finally been worn out on it. It is nice to show up, work, leave...... No BS....

[ParalyticAgent]

I make between $800-1200/wk after taxes workly only 36 hours- not including my housing stipend. I suppose if I was only in this for the money, I would insist on 48hr/wk contract and work tons of overtime. However, I love to travel and love that I get to explore a different part of the country every few months!

Life is all about making choices that support your values. What are your values? Does travel nursing support those values? If it doesn't, it sounds like you need to make some changes.

[smallnurse10]

Maybe it's your specialty? It's just a thought. I'm a L&D nurse but I'm making double what I did as perm staff and my current job is so much easier. I'm working in a low cost area of ca and bringing home 2k per week working 36 hours a week. I have plenty left over after paying my bills.

[Crazynut]

I see alot of people recommending to rent out your taxable home. Remember that rent payments are considered income. You if you rent out your taxable home at market value then you should report that on your taxes as income. I think that it's a misconception that travel nurses make crazy great money. Yes we make more that staff. But staff also get benefits and PTO. I don't really care about benefits. But I have missed having PTO especially when I got that nasty stomach virus! I love traveling but it is hard. I'm just like you. The more I do this. The more I realize the money is not as great as it seems. Looks can be deceiving!

[Crazynut]

Small nurse. Do you have to pay for housing out of that 2k a week? I have found that housing can make or break a travel assignment.