3 Things To Understand About Pay Packages

If you’re scouring the internet and Instagram, because you’ve heard how much money you can make on a weekly basis as a Travel Nurse, you’re not alone. Even if you’ve been a traveler for a while now, the number of agencies posting competitive assignments and attractive pay packages is innumerable.

The tricky side of the travel healthcare world is that the navigation of pay packages isn’t simplistic. Seeing a big number for a week’s pay in Arizona for a MED-SURG assignment sounds great, but how did they arrive at this number? What is the “actual” breakdown of the gross pay? What else is included? What is expected of me? The list of questions goes on and on.

Spire’s approach to this is very simple: Present the FULL breakdown to our travelers right from the get-go. Having surprises never works in anyone’s favor and having a clear understanding from a knowledgeable recruiter is what you want. You won’t always see vital information on assignments from some of the more tech-first agencies. In fact, reaching a real human to speak with can be a challenge at some agencies.

That’s where Spire is different. Our goal is to have our travelers in full control with all of the knowledge needed to succeed — and repeat this process as they continue on in their careers.

Here are three things to keep in mind as you analyze an attractive assignment and pay package:

1. How is the pay package broken down? Is it broken down at all?

• Pay Packages are always a blended rate. Here’s the setup: Taxable Hourly Rate + Stipends = Gross Pay

• You want to make sure that the pay is displayed very clearly. Is this based on working 4 12-hour shifts? 5 10-hour shifts? You want to make sure you have a full understanding of how the agency put this together based on time commitment.

• Bonus: If you see ONLY the gross pay and no other explanation, this is a huge red flag!

1. Are there stipends involved with this pay package?

• Depending on where your assignment is based, there may be more than one stipend involved in the pay package. These could be for housing, parking, mileage, etc

• You should see all (if any) stipends in the pay package breakdown and what is offered on a weekly basis

1. Will you be duplicating any expenses?

• Just because you’re offered a housing stipend doesn’t mean you should take it. If you’re staying with a family member and pocketing the stipend, this doesn’t typically set you up well come tax season.

• Be strategic. Make sure you are keeping track of everything you are receiving from a stipend standpoint. You want a paper trail to show your total income from all assignments to avoid a potential audit. Don’t need the housing stipend? Have the agency write up a new offer that works for you!

All of this boils down to one thing: Work with an agency and recruiter who knows how to provide the most accurate pay breakdown for ANY assignment. If something doesn’t look right or information is missing, dive in and find the missing pieces with your recruiter so you have the full picture. No one wants surprises in the end. The most successful and happy travelers are the ones who map their expectations around full and accurate pay breakdowns.