Will Travel Nursing Still Be a Lucrative Career in 2025

The global pandemic pushed the limits of the already depleting resources in healthcare, which in turn boosted the demand for travel nurses at an unprecedented level. According to an

SIA report, the travel nursing market grew more than sixfold, going from $6.5 billion in 2019 to a whopping $42.7 billion in 2022. However, the numbers soon plateaued and shrank about 40%, coming down to $25.6 billion by 2023.

The shift has been dramatic, and it raises a big question for the nurses: will travel nursing still have its moment in 2025? COVID-19 moved the spotlight on both the many opportunities and the uncertainty that comes with being a travel nurse. Hospitals were desperate for extra hands on deck, so they offered sky-high pay. But as the immediate crisis faded away, so did the demand – and the paychecks.

But the story doesn’t end here. Nurses are at the forefront of America’s healthcare system, which means any shift in trends affects them first. A looming nursing shortage, an aging population and new health challenges could possibly boost the demand for travel nurses.

The Pandemic Surge and Post-Pandemic Market Correction

COVID-19 was an overwhelming time for hospitals that were struggling to balance an influx of sick patients and burnt-out full-time healthcare workers. Healthcare systems had no other choice but to turn to travel nurses, offering high pay to those willing to step in. However, the situation soon began to stabilize, and hospitals started hiring full-time staff again. This shift eventually led to a correction in the travel nursing market, which shrank the market by 40% in 2023.

The reason for this market correction was simple—full-time staff is more stable and proves to be cost-effective for hospitals in the long run. For instance, Florida’s AdventHealth cut back on it’s reliance on travel nurses by 98% after hiring 2000 full-time staff.

Why Travel Nursing Isn’t Going Away

For those who are questioning the travel nurse demand, the profession is not disappearing anytime soon. One major reason for this is that healthcare systems are always facing temporary staffing gaps. Travel nurses are perfect as a flexible staffing solution when the full-time staff takes a vacation, deals with an unexpected illness, or covers busy seasons. Travel nurses step in to fill the shoes of the full-time staff exactly when they’re most needed.

All in all, while the future of travel nursing will stay tumultuous, it will never completely vanish. Adding to their demand is the growing nursing shortage in the country. The American Association of Colleges and Nursing predicts that the demand for nurses will increase faster than the supply in the coming decade. This gap will ultimately be filled by travel nurses.

Pay Rates and Compensation Trends

Back in the COVID-19 crisis, hospitals were willing to pay top dollar for travel nurses, so it’s no surprise that the average bill rate reached $133.47. But as the world started getting back to normal again, the bill rates also dropped significantly and are currently standing at around $65-$85 an hour.

Location plays another big role in compensation. In a region where the cost of living is low, travel nurses still manage to find a higher pay relative to the area’s expenses. These assignments prove to be most lucrative. On the other hand, there could be a region where the pay offers are very attractive, but the high cost of living, housing, transport and everyday expenses could quickly eat away at a nurse’s earnings.

Is Travel Nursing Worth It?

So, when it comes down to the question, “Is travel nursing worth it?” the short, sweet and simple answer is yes – only if you know where to look and how to maximize your benefits. While explosive demand for the profession, which was seen a few years ago, has cooled off, travel nursing still brings some attractive perks to the table.

Salary Comparison

Although the post-pandemic market correction was a harsh pull into reality, the travel nurse demand is still relatively steady. According to Indeed, the average base salary of a full-time registered nurse in the U.S. hovers around $94,215 per year in 2024. At the same time, a travel nurse has the flexibility to earn more, depending on the location and contract. Travel nurses have an average weekly rate of $2,089, which adds up to $114,193 a year.

The opportunities to earn more as compared to full-time staff roles is still there for travel nurses – especially considering the tax-free stipends and bonuses they receive.

Perks beyond Pay

One of the biggest perks of travel nursing is the flexibility it gives because nurses have the freedom to choose where and when they work. Do you prefer to spend the winter in a warmer climate? Or maybe you want to work in a dreamy summer location. Travel nursing makes this possible.

You can take contracts that suit your preferences and schedules, a level of autonomy most full-time nursing staff craves. This flexibility makes travel nursing ideal for those who want to experience different cities, cultures, and healthcare settings without committing to a long-term job.

The Hidden Financial Advantage

Another major benefit of travel nursing is the financial assistance you get with housing and living costs. Most travel nurses get tax-free stipends for housing which can really add up their overall earnings. These stipends are coupled with completion bonuses when contracts are done. Travel nursing is definitely financially rewarding, especially when you’re working somewhere with a lower cost of living.

Career Growth, Networking, and Experience

Travel nursing is absolutely worth it for your career. As a travel nurse, you will get a chance to work in different healthcare systems, learn new technologies and expose yourself to innovative practices.

Wrapping Up

Looking forward to 2025, the looming nursing shortage and the need for flexible staffing in healthcare tell us one thing – travel nursing is not a dying profession. For those who prefer to work on their whim and crave a new experience every time, travel nursing is the ideal career filled with new challenges and room for growth.

So, if you are a nurse considering this exciting path, remember to stay tuned into market trends, understand the ins and outs of compensation, and welcome the personal growth that comes from stepping outside your comfort zone.

Raisso – an Arthur Lawrence Company, links healthcare providers with thoroughly screened professionals, simplifying every step from sourcing to placement. We aim to strengthen and support a resilient healthcare workforce through strategic partnerships. Contact us to see how we can help!