How Much Does a Travel Physical Therapist Make?
It’s common knowledge that most traveling therapists earn more money than those employed as permanent staff. How much more do they make, though, and why?
My wife and I have worked as travel physical therapists for the past 3 years and have earned anything between $1500 - $2000+ per week. We frequently tell prospective travelers that a typical market range is between $1600 - $1800 per week while mentoring them.
You might be wondering why all Travel Therapy compensation packages are listed in dollars per week rather than dollars per hour. This is due to the unique configuration of a travel therapy pay package. The $1600 - $1800 per week that you are offered is "after tax" money. This indicates that you get paid the complete amount offered as your take-home pay each week. Taxes have already been subtracted from it.
Your hourly rate is included in that pay package, usually estimated at 40 hours worked per week and taxes already accounted for. However, if you only consider the hourly rate, it can be misleading. The average travel physical therapist earns $20 - $25 per hour. Much lower than permanent staff therapists. This is done so that the tax-free stipends (housing and food per diems) can be increased to the maximum extent permitted by law. As a result, a larger portion of your salary is tax-free. This is a major factor in why travelers earn more money than permanent employees.
Be warned that in order to claim those tax-free stipends, travelers must provide proof of "dual expenses" while maintaining their tax home. To learn more, go to: https://www.ryanandmeganorear.com/read/taxhome or https://youtu.be/JQ0AwJCauL4
Now, why do these hospitals or clinics pay such a high premium for travelers? Actually, the answer is rather straightforward. Most of these facilities would love to hire permanent therapists, but either they are growing too quickly to be able to hire enough people to handle the patient loads, or it may be difficult to convince therapists to move and establish roots in a rural area. As a result, there is now an opportunity for travelers to provide needed skilled care in a timely manner. As in, as soon as possible for the facilities! Without enough therapists to provide expert care, the facility would lose out on potential clients. So those facilities are prepared to compensate a traveler handsomely for their short term service.
I want to end this article with a simple breakdown of traveler earnings, because if you’re like me, I like to see the numbers behind a confident claim. Feel free to compare these numbers to your current or potential yearly earnings at a permanent position.
Breakdown of Earnings:
Traveler at the low end of the pay range.
$1600/wk x 52 wks = $83,200/yr (after taxes)
Traveler at the high end of the pay range.
$1800/wk x 52 wks = $93,600/yr (after taxes)
Traveler taking 1 month of non-paid vacation.
$1600/wk x 48 wks = $76,800/yr (after taxes)
$1800/wk x 48 wks = $86,400/yr (after taxes)
What would you do with your higher yearly earnings as a travel therapist?
We’ve chosen to pay-off student debt and invest into retirement accounts at a young age.
Let us know below! 👇
- Written by Dr. Ryan J. O’Rear, PT, DPT
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