How is the market for travel nurses in spring 2023?
The market for travel nurses can be influenced by various factors such as the demand for healthcare services, the availability of nursing staff, and the overall state of the economy. During the COVID-19 pandemic, the demand for travel nurses increased significantly as healthcare facilities across the country experienced staffing shortages due to the surge in patient volumes.
It's difficult to predict how the market for travel nurses will be in spring 2023, as it will depend on a number of factors such as the state of the economy, any changes in healthcare policies, and the progress of the pandemic. However, it's likely that there will continue to be a need for travel nurses, particularly in areas where there are staffing shortages or where demand for healthcare services is high.
Sydney Lake (2023)[i], who wrote to Fortune.com, says that contracts for travel nurses, and salaries stabilized at about $3000.00 for the whole package. I disagree a bit, since searches in the market boards show a different reality, at least now in February of 2023.
The MarketWatch[ii], a e-magazine for company owners says “Travel Nursing Staffing Market 2023 To Garner Overwhelming Hike In Revenues by 2026”. In my perspective what I see is hiring companies making more money and paying out less for travelers. They want to have more profit.
A real In-depth search
A quick search in the current job boards for travel nurses return jobs that are well paid, that are averaging above 6k per week. The issue is that many of the jobs are highly specialized and require many years of proven experience. For example, in Massachusetts the search returned a job for Registered Nurse First Assistant - RNFA, with a gross payout of about $5,600.00 per week, and some of this money, or around $2,000.00 is tax free for those truly traveling. In comparison, ER nurses in Massachusetts are making around $4,500.00, if they get the contract. These contracts are in the super high side, and they only come down from there.
Has demand declined?
Yes, demand has decreased for travel nurses in general. With reduction in demand, contracts payout is reduced as well. Some contracts for Psychiatric Mental Health Travel Nurse (PMHRN) that were paying $3.5k-4k in November 2022 now are paying $2.7k-2.3k. Still, it is, in some cases, higher than staff nurses.
The market for travel nurses is shrinking, maybe because the need of nurses during the COVID outbreak has passed and the need for extra nurses are limited. Whatever is the reason, and I believe that the COVID is the issue, in the end nurses will have to make tough choices and maybe return to a full-time job, since Travel may not be as lucrative as once was.
Perhaps, if you are willing to take risks and learn another specialty. Some specialties still very hot, such as Tele, OR, ER and Home Health Nurses, with many results and well paid contracts.
[i] Travel nurse salaries are stabilizing in 2023 at about $3K per week | Fortune [ii] Travel Nursing Staffing Market 2023 To Garner Overwhelming Hike In Revenues by 2026 - MarketWatch
What do you think is happening? Vote here
In relation to 2022, what do you think travel nurses contracts are doing
Travel nurses are getting better contracts than before 2023
Travel nurses are getting the same contracts as before 2023
Travel nurses are getting worse contracts in 2023
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