Travel Nursing: Choose a Pay Package Made for You
Travel Nurse Pay Packages
So you’re thinking about becoming a travel nurse. What next? How do you go from application to orientation at your assignment? We’re going to explore the steps, the do’s and don’ts, and discuss all your options along the way. Are you a seasoned traveler? While we’re confident you’ll learn something new, we want your best tips and tricks too, so be sure to follow us on social media and give us your feedback!
In our previous post, we discussed how to find your perfect recruiter. We broke down what questions to ask and what to look for when you interview with a facility. Now that you have a facility to work at, it’s time to break down pay packages. We’re chatting with recruiters and travelers to find what you should know about pay packages, what to look for, and what to ask your recruiter.
Pay Packages You Choose
TNAA offers two compensation options for each job. After receiving nurse feedback, we designed our pay packages around the way our nurses wanted to be paid. Throughout your nursing career, you’ll likely have different needs, from wanting more protections through benefits to wanting to pad your bank account as quickly as possible. There is no right or wrong pay package, it’s what works best for each individual nurse for each individual assignment.
This pay package has all the bells and whistles. This robust option brings the full weight of TNAA’s dedicated specialists and teams. You can read more about our best-in-class insurance here. But this pay package also includes a lot of standout benefits you won’t find at any other agency, like these.
Who Uses Prime?
We recommend prime for a lot of our travelers for different reasons. Prime is ideal for new travelers who want the world-class support our teams offer, like housing. Our housing specialists will work with you to find the best options (more on that later). You’ll also have exclusive benefits like Low-Census Protection™, TNAA Boost Pay, and multiple bonus opportunities.
Travel nurses are needed when a hospital is experiencing a staff shortage and needs coverage. So, what happens when you’re at a facility on contract and census drops? Well, if you have Low-Census Protection™, your pay is protected. Watch our nurse Stanton explain why he loves Low-Census Protection™.
Without Low Census Protection™
One shift per month canceled:
(468 hours – 36 hours = 432 hours) at a rate of $35/hour = $15,120
Two shifts per two weeks canceled:
(468 hours – 72 hours = 396 hours) at a rate of $35/hour = $13,860
With Low Census Protection™ at $33/hour
(468 hours x $33/hr) =$15,444
If just one shift is canceled per month, you’d still be better off going with the lower pay rate + Low Census Protection™
You’d earn $324 more if one shift was canceled, and you would have made an extra $1,584 during your assignment with Low Census Protection™
TNAA Boost Pay
TNAA Boost Pay offers an extra monetary incentive every time you work extra hours over the amount agreed upon in your Prime contract. The best part? The payout is almost immediate! You will be rewarded for hours worked above and beyond your contractual obligation on your next weekly paycheck! No more waiting until the end of your contract to see if you qualify for a bonus (although we offer those, too). Work more, make more. While most states’ overtime policy kicks in at 40 hours, TNAA Boost Pay may kick in before that: if you’re contracted for 36 hours, TNAA Boost Pay will kick in at hour 37. Read more about this benefit here.
Let’s Talk MaxCash
MaxCash is the pay package that offers the biggest paycheck. MaxCash offers an a la carte approach to benefits. The package boasts quality health insurance with your option of add-ons to fit your lifestyle.
Who Uses MaxCash?
MaxCash is perfect for the savvy traveler. Since MaxCash does not include pay protections and involves fewer interactions with support specialists, we recommend this option for travelers who feel comfortable finding their own housing options, and have a higher risk tolerance when it comes to call-offs. Perhaps you want to pad your bank account before the holidays or you feel comfortable with the facility’s call-off policy. Remember, there is no right or wrong pay package.
Guaranteed Pay is similar to Low-Census Protection™, but with some risk. Guaranteed Pay is different for every facility and is part of your contract with that facility. They will indicate the number of shifts they can call you off, which could impact your paycheck week to week depending on the contract. However, with Low-Census Protection™ in the Prime package, your paycheck stays consistent. Again, it’s about each travelers risk tolerance. Your recruiter will brief you on the history of the facility’s call offs and help you make the very best decision for your situation.
The Recruiter Advantage
If all of this seems overwhelming, don’t worry! As a TNAA traveler, you’re equipped with an experienced recruiter. Your recruiter has the market knowledge and industry savvy to help you make the best decision. They’ll ask you questions about your risk tolerance when it comes to pay protections, offer pertinent facility information that may influence your decision, and ensure you understand tax compliance implications. Want to know more about why you should have a TNAA recruiter on your team? Read more about our recruiters and the role they play here!