The holidays are approaching—a time when you’re looking for more flexibility, especially if you don’t have PTO scheduled. Burnout is real, so you’re probably steering clear from working 48-60 hours a week, which has been more common over the past couple of years.
These are key reasons to lean toward 36-hour shifts.
But another consideration might be the financial side of things.
When it comes to how you’re paid, there’s a difference between working overtime on a 36-hour contract vs. a 48-hour contract.
Simply put, you have a higher potential for overtime (payable after you hit the 40-hour mark) on a 36-hour contract.
Here’s how it breaks down:
Most hospitals don’t allow agencies to bill an overtime rate on a 48-hour contract until more than 48 hours have been worked in a week.
However, agencies still pay those on contract for overtime after 40 hours, whether it’s a 36-hour contract or a 48-hour contract.
Essentially, there’s more flexibility for agencies like LiquidAgents Healthcare to increase the overtime rate on a 36-hour contract because they can bill the facilities for the overtime rate starting after the 40-hour mark, versus a 48-hour contract where most hospitals only accept billing at the regular rate after the 48-hour mark (when billing at the overtime rate begins).
Keep in mind: On a 36-hour contract, agencies usually have flexibility to increase the overtime rate after 40 hours. However, on a 48-hour contract, overtime is a standard 1.5x the regular hourly rate, with no flexibility.
Here’s an example:
36-hour contract
- Your regular taxable rate is $40/hr.
- Your OT rate is $100
- Your stipends are $1350
- You pick up an extra shift and work 48 hours that week:
- $40/hr times 40 hours = $1600
- $100/hr times 8 hours = $800
- Plus stipends = $1350
- Total = $3,750 gross weekly
48-hour contract
- Your regular taxable rate is $40/hr.
- Your OT rate is $60
- Your stipends are $1350
- You work your regularly scheduled shifts:
- $40/hr times 40 hours = $1600
- $60/hr times 8 hours = $480
- Plus stipends = $1350
- Total = $3,430 gross weekly
Hope this helps, and happy traveling!