Travel Nursing in 2024: Pay Trends and What to Expect (2024)

FAQs

What is the outlook for travel nurses in 2024? ›

While travel nurses once made up only 3-4% of the nursing workforce, this number surged during the pandemic to nearly 10%. Post-COVID, we've seen this settle back in around 5% in 2024. The world has indeed seen significant changes, but the demand for skilled and compassionate nurses within the US has not waned.

The demand for travel nurses has steadily increased, driven by factors such as nursing shortages, an aging population, and the need for specialized healthcare services. As healthcare facilities struggle to maintain adequate staffing levels, travel nurses remain invaluable assets to fill critical roles.

Hospitals are now negotiating down contract rates with travel nurse agencies by as much as 50%. Though not what it once was, travel nursing is far from dead, and the pay is still above average. The mean travel nurse income has stabilized at around $3k per week in 2023.

However, travel nurse pay remains very strong. According to surveys by staffing agencies, the average weekly gross pay for travel nurse assignments in early 2024 is around $2,800 for a 48-hour week. This still represents a pay premium of 30-50% over commensurate permanent staff nurse positions at most facilities.

According to a Health Workforce Analysis published by the Health Resources and Services Administration (HRSA) in November 2022, federal authorities project a shortage of 78,610 full-time RNs in 2025 and a shortage of 63,720 full-time RNs in 2030.

A recent study found the leading reasons nurses left healthcare employment from 2018 through 2021 included emotional exhaustion, insufficient staffing, family obligations, concerns related to Covid-19, and unsafe working conditions.

So, is travel nursing worth it? Yes! With more money, flexibility, career options, travel perks, and personal growth, it's still one of the most exciting nursing opportunities in 2024. If you're thinking of level up in your nursing career now, travel nursing jobs might just be the adventure you're looking for.

5 Lowest Paying States for Travel Nurses in 2022. Alabama, South Dakota, Mississippi, Iowa, and Arkansas are the lowest paying states for travel registered nurses, according to NursingProcess.org.

How do I maximize my travel nurse salary? ›

Negotiate for a Higher Pay Rate in a Travel Nursing Contract. You may find that agencies provide different rates for the same area or hospital. Doing a little research and utilizing multiple agencies or recruiters can give you the upper hand when negotiating your pay.

As a travel nurse, you have the opportunity to earn over six figures, averaging about $114,603 per year. Depending on your experience, the need for your specialty, where you're interested in working, and much more, this number can potentially grow.

The short answer is because they endure more risk and hardship than staff nurses. That's not to diminish the stress or high workload of staff nurses. In a similar way, staff nurses who work night shifts (usually) receive a pay differential for working an inconvenient shift that has negative health impacts.

The job outlook for travel nurses is very strong. According to the Bureau of Labor Statistics, employment of RNs is projected to grow 6% between 2022-2032. Greater demand for healthcare and retiring nurses drive this growth. The flexibility of travel nursing is attractive to nurses seeking new experiences.

The Bureau of Labor Statistics (BLS) forecasts a 9% growth in nursing employment from 2020 to 2030. This rate is as fast as the average for all occupations. It suggests that about one in every eleven new jobs created will be in nursing.

Between 2014 and 2024, nearly 440,000 new registered nurse (RN) jobs are expected to be added, while more than 600,000 existing RN jobs will need to be filled due to RNs leaving these positions.

California has the highest demand for travel nurses, and med-surg was the specialty in highest demand, according to a Nomad Health report. The "Nomad Health Q4 2023 Healthcare Jobs Report" examined internal job data collected from Oct.

From 2022 to 2032, employment for registered nurses is expected to grow 6%. Flight nursing is expected to rise as part of that outlook as well. Hospitals, clinics, and other medical facilities are all needing more registered nurses to care for patients in a productive and efficient way.