How to Evaluate a Travel Nurse Contract: 7 Numbers That Actually Matter
Most travel nurse contracts look great on paper. Here are the seven numbers — beyond the headline weekly rate — that determine whether a contract is actually worth taking.
Every travel nurse has had this experience: a recruiter pitches a contract at $3,200 per week, you sign, you move, and three weeks in you realize the take-home is $700 less than you expected. The fix is not negotiating harder. The fix is reading the same seven numbers on every contract before you ever say yes.
1. Blended hourly rate
Posted weekly rates assume a 36 or 48 hour week. Divide the total weekly compensation by the guaranteed hours and compare apples to apples across contracts. A $2,800/week 36-hour contract pays more per hour than a $3,100/week 48-hour contract.
2. Taxable vs non-taxable split
Stipends (housing, M&IE, travel) are non-taxable but only if you maintain a legitimate tax home. The IRS treats aggressive stipend ratios as a red flag. If your taxable hourly rate is below the staff rate at that facility, you are at audit risk. Aim for a taxable base that mirrors local staff pay.
3. Guaranteed hours
A 48-hour guarantee at $60/hr is a different contract than a 36-hour guarantee with optional overtime at $90/hr. Read whether the facility can call you off, whether call-offs count against your guarantee, and what the cancellation penalty looks like for the agency, not you.
4. Local housing comp
Pull live Furnished Finder and Airbnb listings within 20 minutes of the actual hospital before you accept. If the housing stipend is $1,400/week but nothing under $2,200/week exists, that is a $3,200/month gap over a 13-week contract. NurseScout pulls this data live so you do not have to.
5. Travel reimbursement
Many agencies pay $500-$1,000 one-time for travel. If you are driving 1,800 miles, that does not cover gas, hotels, and the day you cannot work. Treat travel reimbursement as a separate line item, not a perk.
6. Cancellation clause
What happens if the facility cancels in week 4? Some contracts pay out the remainder. Most do not. The cancellation clause is the single most expensive thing you will not read until it matters. Read it first.
7. Insurance gap
Day-1 health insurance is rare. Most contracts have a 30 or 60 day waiting period. If you are between assignments, COBRA from your last agency runs you $700-$1,200/month. Build that into your decision.
The 30-second version
Blended hourly rate. Taxable/non-taxable ratio. Guaranteed hours and call-off policy. Real housing comp near the hospital. Travel reimbursement. Cancellation clause. Insurance gap. If any one of those is missing from the offer sheet, the recruiter is hoping you do not ask.