What is Fair Overtime Pay?
A Word on Overtime.
Sometimes recruiters will say to me:
"How can you expect me to pay more than 1.5 a rate on overtime when we, many times, do not get to charge the hospital more for your overtime hours?"
Great question! This is why:
1. No matter what, you guys (as a recruitment company) get at least the same bill rate (or sometimes more).Let's use $65 an hour as a example. (Bill Rate Example- the BR could be less or more than this, as we know it's always changing.)
2. In this example, for normal working hours we, as travelers, might get $45 an hour or so of that.
3. If we only get time and a half of our taxable for OT and our taxable wage is $20 (an average in the industry) we will drop to around $30 an hour.
4. You guys will get an extra $15 an hour for us working long weeks while we get $15 less. (Not fair).
5. What is fair is that we, at least, get the $45 an hour still, it will just all be taxed now since there are no tax-free stipends left to give.
6. Your profit margin as a company will stay the same (actually it will be more because you have zero new costs- it is extra $$ for doing nothing more!)
7. Sometime you will get to charge the hospital 1.5x the bill rate! That is around $100 now you are making every hour we work.
If that is the case -> it would be nice to pass some of that on to us too where we get more than $45 an hour.
8. But at the least, I want to see us make similar to what we make in normal hours, every single time. We should not have a pay decrease on those OT hours ever.
Travel and recruit empowered! xo
PS- In order for a recruiter to pass the Nomadicare Interview to be on our matching list they must pay more than 1.5 an hour for overtime. They play for the win/win every time without you having to negotiate.