What are the Components of a Compensation Package?
A comprehensive compensation package for nurses typically includes:
Base Salary: This is the fundamental wage that nurses earn, which can be hourly or annual. Overtime Pay: Nurses often work overtime and receive additional compensation for these hours. Bonuses: Performance bonuses, sign-on bonuses, and retention bonuses are common. Health Insurance: Many employers offer medical, dental, and vision insurance as part of their benefits package. Retirement Plans: Programs like 401(k) plans with employer matching can be a significant part of compensation. Paid Time Off (PTO): This includes vacation, sick leave, and holidays. Continuing Education: Employers may cover the cost of further education and professional development.
