Types of MLS Travel Contracts: Will you get a Stipend?
There are different types of travel contracts depending on if you want to stay local or travel out of your zip code. Depending on where you are traveling determines if you get a stipend (tax-free money from the government) or a higher base pay.
DO YOU WANT TO STAY CLOSER TO YOUR HOME WHILE STILL WORKING A DIFFERENT HOSPITALS?
If you don’t want to travel to far from you home (less than 50 miles) you are more interested what we call a Local Contract. Because you are not traveling very far you will NOT be eligible for the government stipend.
Pros of Local Contracts
-A short distance to work (most times) and you are not required to find a second housing requirements (see below in the Cons of Travel Contract area for details)
-You already know the area, so you won’t get homesickness and you already know the best restaurants in town.
-By switching hospitals, you will get to experience different patient populations and be able to network with others in your field.
-You will get a higher hourly rate than Travel Contracts, but you need to see how much more you would be making compared to their regular employees. Is it worth it?
Cons of Local Contracts
-No Tax-free Stipend as you are not duplicating your housing expenses
-There may be limited opportunities in your area (few hospitals around)
-You won’t be able to explore and travel around the nation as you work
DO YOU WANT TO EXPLORE THE US WHILE WORKING IN DIFFERENT ENVIRONMENTS?
Pros of a Travel Contract
-EXPLORING the U.S.! You will always be on an adventure! Embrace it and expolore the new area you are assigned too.
-Meeting new people and growing your network! Have friends all across the U.S.
-Learn new equipment, computer systems, and new techniques. Some hospitals don’t change out their equipment but every 10 or 15 years. By traveling you can learn so much more about this field.
-and so much more1!!
Cons of Travel Contract
-DUPLICATE YOUR EXPENSES!!! This is very important because if the IRS investigates and discovers you are not duplicating you housing, they can ask for your stipend back and you will be in trouble.
-State Licenses. Depending on where you are traveling to you may need to get state licenses. This involves spending money (though you can ask for a reimbursement from your recruiter when you work there), keeping up to date on CV’s, and not forgetting to pay the renewal fees.
-Wear and tear on your car. Travel for contracts can me road trips and your car being exposed to many different climates. Make sure you take care of your car.
-and many more, but it is such a great experience don’t let the negatives bring you down!
Let me know what you have found out during your contracts or what types of contracts you prefer!
