Youll hear them say that when youre a travel nurse, you just have to be prepared to go wherever the jobs are available when youre available. While it is generally true that hospitals dont consider extensions until 4 to 5 weeks from the end of the current contract, it doesnt mean that travelers should wait until 4 to 5 weeks are left in their current contract before they start inquiring. In fact, this conventional wisdom tends to blind us from conducting a more thorough analysis and utilizing effective strategies designed to help travelers maximize income and improve their job search results. Here are some things to consider: Negotiate Travel Nursing Extension pay early you can discuss the compensation package for an extension assignment whenever you want. The simple fact of the matter is that your travel nursing recruiter has all the details they need to provide you with an extension pay". The only variable that could possibly get in the way would be not knowing the length of the extension contract. Simply request that your recruiter provide a" assuming that the extension will be the same length as the current contract.
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Ultimately, you could shift your tax home to the hospitals location. Additionally, if you do not pay duplicate lodging expenses at your tax home, then extensions may not be advisable. This is because working too long in one location can make it your tax home. 8: When Should you start Inquiring About a travel Nursing Contract Extension? Extension requests can be initiated by the hospital or the traveler. After all, it never hurts to ask. Youll essay find that most agencies and recruiters will tell you that discussing extensions shouldnt be done until 4 to 5 weeks before the contract is scheduled to come to an end. In fact, youll find many travelers who say this as well. This advice is based on the widely held belief that hospitals wont consider an extension until 4 to 5 weeks before the current contract ends. Moreover, there is a commonly held belief that assignments dont become available until 1 to 4 weeks before the desired start-date. This is why you will routinely hear people say that youll be wasting your time if you get started any sooner.
There are a lot of conflicting stories out there about how long you can work in one location before your tax-home home shifts. The most common story is that you can work someplace for 1 year and then return home for a few weeks and then return to the same place to continue working travel assignments. This is not true. Tax issues are too convoluted london to go into in this blog post. There are simply too many scenarios. You can review the articles in our. Travel Nursing Tax Category for more detail. That said, its important to understand that travelers should not be extending at the same hospitals continuously over a period of years.
There are several reasons for this. First, because youre already oriented and acclimated to the unit, the hospital recognizes that presentation 100 of your time is productive. Moreover, they understand that bringing on new people is always more expensive, so theyd like to keep experienced people on the schedule for longer periods if they have the need. Your agency is also more flexible with regard to the length of extension contracts. Again, the process is easier for them. As a result, its common to be able to extend for an unorthodox number of weeks, like 6, 7, or 10 weeks. 7: be mindful of the tax Implications. As a traveler, its important to maintain your permanent tax-home if you are accepting tax-free literature stipends.
Then, you can call and speak with these recruiters about the possibility of extending through them. The recruiters should know if its possible and/or should be able to provide you with a compensation" at the very least. When taking this approach, it is highly recommended that you keep your current recruiter in the loop. Let them know that you are exploring other options and the possibility of extending through another agency. Again, this may be all thats needed to squeeze juice from the turnip and get the increased rate youre after. Moreover, its best to not burn bridges with recruiters because having more of them working for you is always best. Communication is key to maintaining strong relationships. 6: Travel Nursing Contract Extension Time-Frames Can be more Flexible. It is quite common for travel nursing contract extensions to be more flexible regarding the length of the contract.
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However, you should still negotiate to get the best deal possible. For more on negotiating, you can get a copy of free ebook on how to negotiate travel healthcare compensation packages. If an agency seems to be shorting you on an extension based on the variables discussed here, then you can always politely let your recruiter know that you may still want to extend, but youre going to look for contracts elsewhere that have better compensation. This may be all it takes to squeeze juice from the turnip. Your recruiter wont want to lose you to another company and itll be more work for them to move you to another hospital. It may be worth it for them to just increase your compensation if its possible. 5: Check with Competing Travel Nursing Agencies for the Extension.
If youre very intent on getting the best deal and want to take for a shrewd approach, then you can look into other companies that might be able to bring you on for the extension. Its important to note that sometimes your contract will have a non-compete clause. These clauses typically prevent you from working at the same hospital through another agency for a specified amount of time. However, its also important to note that these clauses are not enforceable great in many states. If you choose to take this approach, you can seek out other travelers at the hospital who are working through other companies and ask them for their recruiters contact information.
3: Watch Out for Companies that Withhold Stipends. Something else to watch out for when it comes to travel stipends and extensions is companies holding the second half of your original travel stipend until your extension is complete. For example, lets say the company offered a 700 travel stipend for the first contract to be paid 350 on the first paycheck and 350 on the last paycheck of the assignment. When an extension is offered, they may try to hold the second 350 installment claiming that youll receive it when you complete the extension. Dont fall for these gimmicks. You should demand that youre paid what youre due on the first contract, and then try to ensure that you receive another 700 travel stipend for the extension or the equivalent in some other compensation component.
4: The company doesnt always have more money for extensions. All of this said, its also important to remember that a company may not be able to pay you additional money for the extension for a couple of reasons. First, they may have offered you a great deal on the original contract to get you to accept in hopes that youd extend and they could even things out on the extension. Second, the company may have bonuses and other increases already built-in to their extension contracts. If they do, then its fair to assume that the cost savings described above are being used to provide any bonuses and/or pay increases. Just like any new contract, extension contracts are a negotiation. Its very difficult to know if youre getting a good deal. Its fair to assume that most agencies are giving good deals these days because the competition for travelers is so fierce.
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The agency will avoid this on an extension because you are already oriented. Second, if a company provided 700 for a travel stipend on the original contract, then they may not incur this expense reviews on the extension. This is because you may not need to do any traveling. Its possible that you may want to return home between contracts, but not necessary. Regardless, the company may or may not add the travel stipend to your extension. If they keep it in, then theres no problem. If they keep it out, then you should try to make sure that you get an equitable increase somewhere else, like your base rate or lodging stipend. Remember, to calculate the hourly value of the 700 travel stipend, simply divide the 700 by the total number of contracted hours.
Its possible that this is true, but its also possible that they provided the best deal given the costs involved essay with the first contract. Here are examples of costs that the agency may avoid on extension contracts: Travel Stipends, non-billable orientation costs (Per their contract with a hospital, agencies are often not allowed to bill for a certain number of orientation hours). Compliance and Credentialing Costs (Drug screens and background checks are common costs that agencies avoid on extension contracts). Man-hours (As mentioned above, the agency spends far less time with an extension versus a new contract). Lets take a look at two examples. First, your travel nursing agency may have been unable to bill for a certain number of orientation hours on the original contract. However, they still need to pay you for those hours, so this represents a cost. Its quite common for contracts to include 4 to 12 non-billable orientation hours. Using a standard bill rate of 65 per hour, the cost would be 260 to 780.
Expenses on Extensions. The second important variable to keep in mind regarding travel nursing extension contracts is that the agency will most likely avoid costs that were incurred on the original contract. In addition, it is most likely that the bill rate will be the same for the extension contract as it was for the original contract. This may not be true if the first contract was offered at a crisis rate and the extension is offered at the lower standard rate, but that is rarely the case. As a result, when you negotiate an extension you should be doing so with the understanding that its possible to get more money because the agency is incurring lower costs. However, you will routinely hear recruiters say that they can not give more money for the extension because they provided the best deal possible on the first contract.
First, extensions are easy for both you and the travel nursing company. You are already on location so there wont be any additional traveling involved. Youll already know your way around the city so you wont have to spend any time researching. You already have all your paperwork in order, so you wont have to go through the onboarding process again. And youre already oriented, so you wont have to go through that again. Your recruiter and agency will save a ton of time as well. Your recruiter wont have to conduct a job search and get your profile submitted to new with opportunities.
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Share this article 401700, assuming that youre still having fun as a travel nurse, you will need to continue to secure travel nursing jobs on an ongoing basis. The easiest job to secure is the extension assignment. Essentially, an extension assignment is when you extend your current contract for an additional number of weeks. Of course, if you dont sign an extension, then youll need to look for a new job. In this blog post, well provide 8 tips for travel nursing contract extensions. 1: Travel Nursing Contract Extensions Are easier for everyone. There are several important variables to keep in mind when it comes to extension contracts.