Becoming an LCSW - Is it worth it financially?

amother

OP ↓

Mon, May 20 2024, 10:02 pm

So I really want to be able to earn a nice living while helping people. I want a meaningful job like that.

However, it needs to make sense financially for me as well.

Ik that before a good few years I'd only earn peanuts. While I know being a therapist is not all abt the money, and I agree, I do need to make a decent living.

what would you tell me - should I not go into this field of work?

those of you already in that line - how long did it take till you saw yourself on steady solid ground, financially?

amother

Bottlebrush

Mon, May 20 2024, 10:14 pm

A successful private practice is both about your skills as a therapist and your confidence in yourself, ability to market, and business sense. Not everyone with a LCSW goes into private practice or is able to have a successful business.

I am a Registered Dietitian Nutritionist. I have the skills and the knowledge. I have the disposition and am an excellent educator/counselor but I lack the business acumen. I would for an agency and get paid like that. Definitely not the same pay scale, but I would have a hard time charging someone for a missed appointment when their kid is sick, or charging them for information available on the internet, or if they didn’t see progress-I would feel I didn’t educate properly to motivate/implement the changes needed. You need to know yourself.

OlamChessed ↓

Mon, May 20 2024, 10:15 pm

Post graduation. It depends where you live and how many years it takes you to get you clinical supervised hours - take for example ny state you need 2,000 straight clinical hours.
I am almost there I have 1,700 hours so far , and it took me 4 years I had 3 kids in between.
Its doable just takes a bit of time so if your okay earning not the best income for the short term it can be great long term.
Also I heard that mishpacha recently had an article about this, did anyone read it?

amother

↑ OP ↓

Mon, May 20 2024, 10:17 pm

OlamChessed wrote:

and how much did u end up earning until now?

amother

↑ OP ↓

Mon, May 20 2024, 10:18 pm

amother Sapphire wrote:

We spend our money on therapy Wink

heey ur guilt tripping me not to go into this field of work? Wink

ye tell me abt it I've spent a whopping 100k on mine - in a year!

amother

↑ Sapphire

Mon, May 20 2024, 10:20 pm

amother OP wrote:

heey ur guilt tripping me not to go into this field of work? Wink

ye tell me abt it I've spent a whopping 100k on mine - in a year!

No not at all. There's a need for good therapists!
I just wouldn't understand if it's not a good income

amother

↑ OP ↓

Mon, May 20 2024, 10:21 pm

amother Sapphire wrote:

No not at all. There's a need for good therapists!
I just wouldn't understand if it's not a good income

wdym u wouldn't understand if its not a good income?

are u trying to say it instantly is?

↑ OlamChessed ↓

Mon, May 20 2024, 10:25 pm

amother OP wrote:

and how much did u end up earning until now?

30-40k a year. I work at a clinic

Last edited by OlamChessed on Mon, May 20 2024, 10:28 pm; edited 1 time in total

amother

Aster

Mon, May 20 2024, 10:25 pm

OP, how much is a good income to you?

I'm from the NY area, and most therapists I know are eligible for government programs because the salary is so low. Everyone wants to use insurance for therapy. Insurance pays pennies, and denies a lot so therapists are sometimes unpaid. Clients refuse to pay copays and deductibles. If you work for a clinic it's low salary, if you work on your own you are a business owner.

With hatzlacha,

Signed - a therapist who had to go back to school to get another degree and go into another field to be able to earn an income that got us off medicaid

amother

↑ OP ↓

Mon, May 20 2024, 10:27 pm

OlamChessed wrote:

30-40k

Oh my god thats nothing!!!!!!

how did u live???

how many hrs did u work?

amother

↑ OP ↓

Mon, May 20 2024, 10:28 pm

amother Aster wrote:

are u kidding me? another degree? so how do ppl actually work it out??

amother

Ultramarine ↓

Mon, May 20 2024, 10:29 pm

I don't think it's worth it financially. I love what I do, I love the flexibility, I love helping people, but that's it. There are a few exceptionally expensive therapists, but most therapists are not billing that many hours a year at that high rates. And those that do often spend years working at lower salaries.

↑ OlamChessed ↓

Mon, May 20 2024, 10:31 pm

amother OP wrote:

Oh my god thats nothing!!!!!!

how did u live???

how many hrs did u work?

I work part time and bh it has worked for my family. Smile

everyone has different needs, priorities and standards. so for us it worked but it isn’t for everyone. I really have appreciated the flexibility and I love what I do it’s so meaningful bh. I think I really get the chiyus from those two things. Also It’s for the short term so 30-40k a year and then be”h you can build from there when you go private. Most but not all social work jobs with supervision are lower paying then full time w/o supervision.

Last edited by OlamChessed on Mon, May 20 2024, 10:34 pm; edited 1 time in total

amother

↑ OP ↓

Mon, May 20 2024, 10:31 pm

amother Ultramarine wrote:

well, I love helping ppl but I also love giving my family food, clothing, and everything else they need

if in fact u earn this little how do you manage?

not talking abt living a luxurious life, but comfortably and decently?