Don’t Confuse the Hourly Rate with the Hourly Equivalent
The hourly rate is not the same as the hourly equivalent. An hourly rate is the amount you make per hour of work. The hourly equivalent is the hourly rate plus a housing stipend, incidentals and any other benefits associated with the position. Expect the hourly equivalent to exceed the hourly rate, since it includes more information.
Always look for the hourly rate and a break down of other benefits before you assume that a position offers the pay you want. In some cases, you will notice that the actual pay is lower than other positions and roles.
Pay Attention to the Variables
The variables are the details given in a pay package or a quote that impacts your total income. Quotes may offer different details in the variables, but most will include incidentals, a housing stipend, your hourly rate and a travel stipend.
Keep in mind that the travel stipend is for the entire length of your contract. Also, in your Travel Nurse Pay is housing stipend is for your monthly housing costs. Incidentals are calculated on a weekly basis and usually give you funds for meals and other necessities. Your hourly rate is taxable and is determined by the number of hours you work.
The variables may differ for each travel nurse position. Keep in mind that quotes may offer different figures and positions may have additional benefits. Do not assume that the position that breaks down into the higher income level is always the best deal for your goals.
Prepare to Ask Questions
Do not be afraid to ask questions about a position. You should keep in mind that each state has different laws and recruiters may overlook details when given a quote. For example, in California you are paid overtime for any work above eight hours in one day. That means if you are working a 12 hour shift, then you are paid overtime for four hours of your work. A recruiter may assume you know the facts about the state’s laws and may overlook the details when you look at a quote for a position. By expecting a few mishaps and miscommunication, you can prepare questions to clarify the details before you assume a pay package works for your needs.
Looking at positions and Travel Nurse Pay packages as a nurse is not always easy. The details vary for each position and recruiters are not always clear about the details. By taking the time to ask questions and comparing the benefits, you can find the right position for your next travel nurse job.