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If you’re a travel nurse, you’ve probably heard of the completion bonus. But what is it and how does it work? In this article, we’ll cover everything you need to know about travel nurse completion bonuses.
What is a Travel Nurse Completion Bonus?
A completion bonus is an incentive offered to travel nurses who complete a certain length of assignment. This bonus is usually paid out at the end of the assignment and is intended to encourage travel nurses to stay on with a facility for the duration of their contract.
How Much is the Bonus?
The amount of the completion bonus varies depending on several factors, including the length of the assignment and the facility offering the bonus. Typically, completion bonuses range from $500 to $5,000.
Who is Eligible for a Completion Bonus?
Most travel nurses are eligible for a completion bonus if they complete their assignment as outlined in their contract. However, it’s important to read the fine print of your contract to make sure you understand the terms and conditions of the bonus.
Is the Bonus Taxed?
Yes, completion bonuses are typically subject to federal and state income taxes, as well as FICA and Medicare taxes. It’s important to keep this in mind when budgeting your finances for your assignment.
How is the Bonus Paid?
The bonus is usually paid out in the final paycheck of your assignment. However, some facilities may offer the bonus in a separate payment. Make sure you understand how and when you’ll receive your completion bonus before signing your contract.
Do All Facilities Offer Completion Bonuses?
No, not all facilities offer completion bonuses. It’s important to research the facilities you’re interested in working with to see if they offer bonuses and what the terms and conditions of the bonus are.
Are Completion Bonuses Negotiable?
Completion bonuses may be negotiable in some cases. If you’re interested in negotiating your bonus, it’s important to have a clear understanding of what you’re asking for and why. You may want to work with a recruiter or other professional to help you negotiate the terms of your contract.
Conclusion
If you’re a travel nurse, the completion bonus can be a great way to earn some extra money and stay motivated throughout your assignment. However, it’s important to understand the terms and conditions of the bonus before signing your contract. Keep these tips in mind and you’ll be well on your way to earning your completion bonus!