If you ask most professionals currently in the field, the two biggest benefits to travel nursing include being able to travel to places that might have been an impossibility under any other circumstances and the amount of money you can earn while doing it. Although most nurses enjoy a strong, stable salary, travel nurses have the potential to earn up to $50 an hour doing what they love.

However, depending on where you travel, the money might not always be a mark in your favor. Depending on which company you intend to accept a travel nursing assignment from, and where the location is, it might make more sense to opt for a different destination.

• Hourly Pay: Hourly rates for a travel nurse may vary depending on where he or she goes. Larger cities and locations that are difficult to staff might offer more money as an incentive to draw qualified candidates. Other destinations (such as Hawaii or New York) might offer lower rates of pay, since so many more nurses might be willing to travel there for a few months out of the year.

• Travel Reimbursements: Different travel nurse employers offer different incentives, many of which include travel or housing reimbursements. Some companies pay above and beyond what you need to relocate yourself and your belongings, while others might offer a lower payout but provide more flexibility in allowing you to decide where to go next. This is a trade-off you have to consider before you sign any contracts, since travel will need to be figured into your total estimated annual income and costs.

• Local Cost of Living: Just as places like Hawaii and New York are more appealing to many travel nurses, they are also two of the most expensive locations in the United States. The price of everything from food and entertainment to gas and clothes is influenced by the cost-of-living index of individual cities and states, and what might look like a great salary could actually put you below the average in larger cities.

• State Taxes: Each state has its own income tax laws, and as long as you are working within that state, you are subject to these laws. Some states have no income taxes (and may make up for it in sales tax or real estate taxes), while others have very high rates. Consult with a tax or financial advisor to determine what you will be expected to pay out of each paycheck just for the privilege of working in the state before you move.

The reasons to become a travel nurse are good ones, regardless of if you’re doing it for pay, adventure, or to give back to communities in need. However, if you plan on making it a long-term career, it’s a good idea to develop a system in which you can set the cost of living against the benefits, and make the right choice when it comes time to sign the next contract.

Related Topics:

Find the Right Nursing School for You

Travel Nursing: Embark on a Journey