Why are travel nurses paid so much?

So, why do travel nurses get paid more? It’s because they fill short-term needs, accept assignments in areas with severe nursing shortages, receive extra compensation for their flexibility and work in hard-to fill specialties.

What is the highest paid travel nurse?

Telemetry Travel Nurses hold one of the highest-paying travel nursing jobs, earning approximately $130,870 annually. This wage is equal to $62.92 hourly, $2,517 weekly, or $10,910 monthly.

Why do hospitals hire travel nurses?

Travel nurses provide hospitals with many benefits. They allow medical facilities to reduce their staffing costs and also help them to fill in the gaps when there is an increase in need. In addition, being a travel nurse can be an extremely rewarding and exciting career.

Are travel nurses rich?

How Much Money Do Travel Nurses Make? Under normal circumstances, many travel nurses have the potential to earn over $3,000 per week. Travel nurses can bring in over $50 per hour, plus company-paid housing accommodations. Making it entirely possible for travel nurses to make well over $100K per year.

What are the disadvantages of being a travel nurse?

Cons of Travel Nursing

• Logistics of Travel. Whether you’re traveling for a long or short assignment, frequent travel is not easy; in fact, any profession is difficult when travel is part of the job duties.
• Loneliness.
• Multiple Licenses.
• Compensation and Budgeting.
• Career Trajectory.

Do travel nurses make a lot of money?

Monthly: The monthly salary for travel nurses averages out to $9,790 and may vary depending on hours worked or bonuses. Annual: The average annual salary for travel nurses also varies significantly. On average, they earn $117,490 with a starting salary of $78,430, rising to $170,680 as more experience is gained.

Do travel nurses pay taxes?

Travel nurses are paid differently than staff nurses, because they receive both a base hourly pay that is taxed and additional “payments” that are non-taxed to make up their “total” pay.

Do travel nurses get audited by the IRS?

The travel nurse agency may be audited, which means the IRS will look into all of its employees.