Two offers can look identical on paper and feel totally different in your bank account. Travel pay is a bundle: taxable wages, stipends where eligible, and real-world costs in that market. Here is a practical way to think it through.
Know what each line item is doing
- Taxable hourly: What shows up on your W-2 as wages.
- Stipends (when eligible): Often tied to IRS rules about duplicating expenses—your situation may differ; confirm with a tax professional.
- Bonuses and overtime: Read completion clauses and caps so you are not counting money you cannot realistically earn.
Model housing like a local
Search short-term rents and fees in the actual neighborhoods you would consider—not the whole metro average. A strong stipend in a tight market can still leave you underwater if you wait to book.
Compare total package over the contract
Multiply expected weekly take-home by weeks, subtract realistic travel and setup costs, and add known deductions (parking, scrubs, licensing). Small differences add up across thirteen weeks.
Ask about stability, not just rate
Guaranteed hours, cancellation policies, and call expectations change your effective pay. A slightly lower rate with solid guarantees sometimes beats a “hero” number that rarely hits your check.