How Much Do Travel Nurses Make?

How Much Do Travel Nurses Make?

Travel nurses typically make between $81,000 and $128,000 a year and have an average annual income of $105,021. If we dig even deeper into the data from Zip Recruiter, we see that in the United States in 2023, travel nurses earn, on average:

• $50.49 per hour
• $2,391 per week
• $105,021 per year

What you can make as a traveler varies by nursing specialty, location, demand, and more. Travel nurse pay typically consists of an hourly rate in addition to stipends and reimbursements for housing and living expenses. These stipends can be tax-free, adding to higher take-home pay due to lower taxation.

With all of the factors affecting travel nurse pay- it is super important to stay up-to-date on the latest information. Pay is important. Whether you are new to the traveling world or a travel nurse veteran, it can be complicated.

As a travel nurse, you are valuable. You bring unmatched flexibility, skill, and knowledge- and meet an essential need in today’s healthcare climate. Patients continue to receive high-quality care despite regional staffing challenges, and healthcare systems experiencing staffing crises keep functioning- because of travel nurses.

At Trusted, we are transparent about our pay policies and work hard to ensure our travelers are always paid what they are worth. We want you to be aware of and empowered by the value you bring to patients and healthcare systems. Keep reading to find out everything you need to know about travel nurse pay!

‍How Much Do Travel Nurses Make a Year?

According to Zip Recruiter, the average annual travel nurse pay clocks in at:

• $105,021 per year
• New York, along with other states that have a higher cost of living, tend to have the highest travel nurse salaries, averaging at $128,000 per year.
• Other states with lower costs of living, such as Arkansas, typically clock in with an average travel nurse salary of $81,000 per year.

Factors like how many contracts, how many weeks are worked, and how much time off you take affect your annual pay. Travel nurses are not salaried employees- travel nurses get paid an hourly wage, plus stipends and reimbursements, which vary from contract to contract. Your specialty and location are also important factors.

How much a travel nurse works in a year is totally up to you! Flexibility is one of the greatest benefits of being a travel nurse. While taking little time off between contracts will undoubtedly lead to more annual pay, many travelers enjoy extended periods of not working. No matter what your decision is, your Nurse Advocate at Trusted will support you. At Trusted, you will never be rushed into beginning another contract once you have finished one. Let us know what you want and when you want it, and we will help you find it!

How Much Do Travel Nurses Make an Hour?

How much a travel nurse earns per hour varies by location, specialty, and demand. According to Zip Recruiter, the hourly average pay for travel nurses is:

• $50.49 per hour
• States with a higher cost of living can have average pay rates of $61.67 per hour or more.
• States with a lower cost of living lean toward an average pay of $39.04 per hour.

Keep reading to discover how location, specialty, and need impact travel nurse pay. We’ll take a closer look at these factors later in this post. First, we want to review travel nurse pay at Trusted and ways you can maximize your take-home pay.

How Much Do Travel Nurses Make Working with Trusted Health?

We know that we’re providing a lot of data and numbers, and that is because we want to be fully transparent with your pay information. On that note, here’s more specific data to show you what travel nurses make when they work with Trusted!

The following graphs reflect the average gross pay (taxable and non-taxable earnings) from nurses working contracts with Trusted thus far in 2023, organized by highest paying state and specialty. This is how traveling at Trusted Health compares:

Top Five Highest-Paid States for Travel Nurses at Trusted Health

Top Five Highest-Paid Specialties for Travel Nurses with Trusted Health

Want more details and information? Check out our Salary Guide.

Maximizing Your Take-Home Pay as a Travel Nurse

How much you make as a travel nurse is positively impacted by the tax benefits available for traveling professionals. Here are some of the key tax advantages of travel nursing that maximize your pay:

• Non-Taxable Stipends: Travel nurses receive tax-free stipends to cover expenses like lodging, travel reimbursement, meals, and incidentals. A traveler will often receive both a housing stipend and a daily stipend, or “per diem.” Stipends are calculated based on government-set rates specific to the location of your assignment. Stipends are meant to benefit a traveler who is duplicating living expenses while working away from home.

Since these stipends are not considered taxable income, they can significantly increase your overall earnings. If you have questions about whether or not you qualify for tax-free stipends, be sure to read our guide on travel taxes and check-in with your tax advisor!

• Lower Taxable Rates: Travel nursing pay packages often combine taxable and non-taxable components. Typically, your hourly rate is taxable, and stipends are non-taxable.

Since taxable rates for travel nurses tend to be lower than regular staff nursing rates, a smaller portion of your total salary is subject to taxation. This effectively reduces your tax liability and increases your take-home pay!

It's important to note that tax laws and regulations can be complex and subject to change. It is highly recommended to consult with a qualified tax professional or accountant specializing in travel nursing to ensure you understand and maximize your tax benefits per current regulations and your personal situation.

Factors Affecting Travel Nurse Pay

When choosing a travel nurse assignment, it's important to consider the factors that impact your pay package. We’ve mentioned specialty, location, and demand. Let’s take a closer look at how and why these factors affect your pay, plus a few more.

1. Specialty

Your nursing specialty is a key factor determining how much you can make as a travel nurse. The specialization and expertise required in certain areas of nursing often translate into higher compensation. Some specialties may also require travelers to take call, which also affects total pay.

2. Location

How much travel nurses make varies across different states and cities. Just as pay varies across assignments, the cost of living does, too. Some of the highest-paying states and top-paying cities are often the most expensive to live in. When contemplating a contract, it is important to look at how much you will make there and how much you expect to spend there.

Pay can differ from location to location based on local regulations. Stipends are calculated based on government-set rates specific to a location. A higher cost of living translates to a higher living and housing stipend for travel nurses.

Overtime laws also vary from state to state. For example, in California, nurses often receive 1.5x their standard rate for any hours worked beyond eight in a day, with 2x their regular rate for hours above 12 in a day. In most other states, overtime pay doesn’t begin until 40 hours per week.

3. Facility Need

When the need or demand for travel nurses is high, facilities may offer premium pay rates to attract travel nurses and accommodate this high demand. This is why you will see different rates for the same travel nursing specialty at different facilities, even within the same city. Rates will fluctuate with supply and demand, and with a particular facility and unit’s level of need.

Facility need will increase during public health crises. This occurred during the COVID-19 pandemic- when nursing shortages and the demand for nurses were at an all-time high, travel nurse pay was as well.

Another example of this is during extreme staffing crises, such as strikes. When nurses at a facility are striking, that facility’s demand for nurses will be exceedingly high. Because of this, pay to cover striking facilities is also very high. However, strikes are often short-term in length and are unpredictable in nature.

4. Shift Type

How much you make as a travel nurse can be affected by the shift you work. The overall need on the shift available for you as a traveler will impact the rate offered to fill the role. For example, a facility may have trouble fully staffing their less desired shifts, like night shifts or weekends, so they will likely offer higher pay rates to fill these staffing gaps.

5. Choice of Agency

As a travel nurse, one of the most critical choices that can affect how much you make is your choice of travel nurse agency. Travel nurse staffing agencies work to help match travel nurses with contracts, and some agencies have larger overhead expenses than others. Other agencies simply choose to keep more profit within the company- and these factors lead to reduced pay for their nurses.

At Trusted, we are transparent with our pay practices, and many of our nurse advocates and staff have been travel nurses in the past. We know what it's like to be in your shoes- and you won’t find slimy, pushy recruiters or low-paying contracts here! You are our most valuable resource at Trusted, and we work hard to maximize your pay and make your travel nurse experience the best it can be.

Are You Ready to Explore High-Paying Travel Nursing Opportunities?

Sign up with Trusted today to discover exciting travel nursing opportunities and take advantage of the highest-paying jobs and tax benefits available. We offer a seamless platform to connect travel nurses with top-notch assignments tailored to their preferences and career goals, and we make this process transparent, easy, and enjoyable.

If you value flexibility and varied experiences, travel nursing can be the key to maximizing your income. Trusted knows the value, skill, and experience that travel nurses bring to the table- and we work hard to ensure our travel nurses are paid what they are worth. Whether you're seeking higher pay, exciting experiences, or the chance to explore new locations, Trusted has got you covered!