Sometimes, nurses just want a bit more money than what they’re earning from their current salary. It could be for any number of reasons, like saving up for a big vacation, getting a new car, paying down student loans, or saving a little extra for retirement. Whatever your reason, it pays (literally) to learn about new ways to increase your income. Here are five ways you can make some additional money as a nurse.
Work Those Shift Differentials
Most hospitals offer increased pay rates for nurses who are willing to work nights or weekends. If it’s not a huge sacrifice for your lifestyle, you can take advantage of these wage differentials to increase your take-home pay. By working solely night shifts and weekends, you can increase your base pay rate by several dollars an hour. You can also just take a few of these shifts every month to earn a little extra cash.
Put in Some Overtime
Taking extra shifts offers the ability to earn additional money in two different ways. First, by working more hours during your pay period, you’ll increase the size of your paycheck. Secondly, you’ll get paid time-and-a-half so you’ll be able to earn money even faster than usual. Some states like California have unique overtime laws that give nurses an even greater opportunity to earn more. As long as you don’t burn yourself out, accepting overtime shifts is a great way to earn extra money in a hurry.
Move to a Higher Paying Area
It’s no secret that certain cities and states reliably pay higher wages than others. If you’re in a position where moving makes sense, you can choose to move somewhere that increases how much you earn. Just keep in mind the cost of living, as some of the highest paying states for nurses can be expensive places to live, which will offset the higher income.
Work in a High-Demand Specialty
Supply and demand can be your friend when you’re trying to increase your earning potential. For nurses, this means gaining experience in a high-demand specialty to find work more easily and also demand a higher salary. Here are some examples of nursing specialties in high demand:
- Emergency Room
- Intensive Care Unit
- Labor and Delivery
- Operating Room
Get a Related Side Hustle
Just like with any other industry, if you want to earn some extra money, you can always pick up a second job in your field. For nurses, there are plenty of healthcare-related jobs that can be used to gain some additional income. While some may require additional certification, they can be a gratifying way to earn some extra cash. Here are some examples of part-time jobs that are great for nurses:
- Working at an immunization clinic
- Becoming a CPR or first aid instructor
- Working at a nursing call center
- Doing medical transcriptions
- Working at a nursing home
Although pay differs by location and specialty, being a travel nurse can be a great way to increase your salary in the nursing profession. By working with a staffing agency, you can find great job opportunities around the country. Plus, you can earn additional benefits like a housing stipend and per diem that come tax free, making it an even greater option when you’re trying to earn some extra money.
If you’re interested in applying for travel nursing jobs as an opportunity to try something new and increase your income, contact LRS Healthcare today!