The Numbers (TravelCon2017)

Example:

Bill rate is 80/hr from the hospital to your contract company

§  15-35% (25% average) is your companies gross margin

o   This goes to: salaries, rent, utilities, payroll taxes, profits, office supplies

§  3-8% (6% average) is the Vender Manager Services (VMS)

o   This goes to the vendor that the hospital went through to simplify the hiring process. Sometimes you don't have this, but most times you do. 

§  So in this scenario you are left with about 69% of 80/hour = $55.20/hr (gross hourly wage)

§  This will be lumped together for all hours in contract. (40hr/week times 13 weeks) $28,704

So take this number 28,702—This is your pre-tax tax income. And you want as much (as legally possible) of it to stay un-taxed as you can. The best way to do this is to increase your stipends to as high as you can per the GSA rates. This is called “re-characterization of wages.”

Maximum Stipend:

15%-Stipend

28%-Housing

26%-Wages (taxed)

When this was being presented it made me realize. Next time I want to ask—ok what is the amount that you are giving me to work with. If I take no travel reimbursement, no license reimbursement, no shots/physical what is the total chunk of my pie? And let me play with it and see what I can do. It’s a thought… I might try next time.

Negotiate to the bottom line—don’t get bogged down on trivial details. Use the gross hourly pay application on pantravelers.org

Get 2 or more offers from 2 or more agencies

§  Email only

§  Refuse extensive paperwork at first

§  Send progression profile pdf if asked

SIMPLIFY to gross bottom line

Competition between agencies

     What if two agencies have the same assignment?

     Honesty, Ethics and Businesslike

ü  Silence is a powerful tool

ü  There is no perfect agreement

ü  Pick your battles

ü  Agency has little influence in the hospital

OVERTIME BURN:

Really look at your overtime rate. It shouldn’t be time and a half of your taxable wage it shouldn’t be less than your GROSS HOURLY WAGE (the one before you split it into housing/taxable/etc.)