In the traveling healthcare industry, it’s important for travelers to have a basic level of understanding when it comes to the money agencies promise you.
This might come in the form of sign-on bonuses, completion bonuses or extension bonuses. But the saying holds true: if it seems too good to be true, it probably is.
You might wonder how to spot when an agency is being genuine about its offers and when there might be strings attached. This blog post will help guide you when evaluating new agencies and the things they offer.
Sign-on bonusesWho wouldn’t want a $5,000 sign-on bonus for a travel assignment? That seems like easy money. After all, it’s just a 13-week assignment. Think again. Typically, if an agency gives you a sign-on bonus of any kind, there will be strings attached.
If your agency is promoting a sign-on bonus, your recruiter should review this with you before you sign your contract. Don’t be afraid to ask questions! A good recruiter should not only be able to answer all your questions, but also anticipate the questions you might not know to ask. There shouldn’t be any surprise fine print that you didn’t know about.
Completion bonuses were much more common during the height of the Covid-19 pandemic, but you can still find them occasionally. Just like the sign-on bonus, you should be able to talk with your recruiter about the requirements you must fulfill to receive your completion bonus. If your recruiter doesn’t have all the answers, that’s okay! But a good recruiter will reach out to the vendor or someone else to get the answers you’re looking for.
Many agencies offer extension bonuses. This really isn’t a red flag, but sometimes travelers think they will receive a bonus for every extension with the agency. However, this is usually not the case. It all depends on how the agency structures the bonus.
If your recruiter mentions the agency is giving you an extension bonus, it’s important for you to ask how the bonus is structured. Some agencies might give you a cash bonus on the front end, while others might spread out your bonus over the duration of your contract. Neither way is better or worse than the other, and the agency is giving you the same amount of money in both scenarios. But your recruiter should explain how the extension bonus is structured and how many times you will get a bonus.
In many cases, the cost of bonuses is just redacted from the potential salary of a job. A healthcare professional may not be adding additional income by signing with an agency that offers a bonus. Before signing contracts, make sure you are comparing jobs with other agencies and ask your recruiter if you have any questions.
It’s important for travelers to be informed on these common tactics to feel empowered in their career path. At the end of the day, your agency and your recruiter should be there to support you.
At Travel Nurses, Inc., our recruiters go over benefits like these with our travelers so that there are no surprises. Pay transparency is something we value and promote. Our recruiters take the time to answer questions and anticipate the questions that travelers may not know to ask.
Start your next journey with an agency you can trust and recruiters who can answer your questions! Email us at thisisfun@travelnursesinc.com.
