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Becoming an LCSW - Is it worth it financially?
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amother
Iris


 

Post Tue, May 21 2024, 5:02 am
amother OP wrote:
so again, its not just the money...

I'm just looking at it from a responsibility point of view. I have to be fair to my family and it has to make sense..

does the average therapist earn this little?


Based on your posts till now, It's not for you.

A lot of years of patience and not too much income are required.
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safetynet1




 
 
    
 

Post Tue, May 21 2024, 6:19 am
Its an average of 7 year investment, and then only about 10% of therapists reach a very comfortable salary
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amother
RosePink


 

Post Tue, May 21 2024, 6:49 am
arn wrote:
I can name a few.


Also curious, if you can share.
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  arn




 
 
    
 

Post Tue, May 21 2024, 7:13 am
amother RosePink wrote:
Also curious, if you can share.


Sorry I would never share names in a public forum
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  mha3484  




 
 
    
 

Post Tue, May 21 2024, 7:20 am
My sons see a therapist has a FULL schedule. He is very good at what he does and is booked solid there is no rescheduling. But charges in the 100-200 an hour range.

Last edited by mha3484 on Tue, May 21 2024, 7:42 am; edited 1 time in total
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amother
  Tanzanite


 

Post Tue, May 21 2024, 7:21 am
amother Lightgreen wrote:
How do you know this?

Cause I know her hours and I know that she’s full booked and has a waiting list, I can’t reschedule when I’m not available cause she wouldn’t have a different slot
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amother
Broom


 

Post Tue, May 21 2024, 7:42 am
amother Rose wrote:
I think people think private practice makes a lot more than it often does. Now I don’t work 6 days a week, and I don’t see 8 people a day, as I don’t think that would work for my family life, and I don’t think that would allow me to be the best therapist. I see about 5 clients a day, 3-4 days a week. I don’t feel comfortable charging as much as others do bec my clients are mostly already struggling with many life issues I can’t add to their burden by causing financial stress. I charge 200$ which is at the lower end for somebody’s with my experience. I’m also not supporting my family on this, so I have the luxury to do so. So let’s say on a week where I have a full schedule I make 3400$. My rent takes about $600 of that, and my supervision takes $200 (that’s not counting extra trainings and professional memberships etc)— that leaves 2600$. But then there’s Pesach where I don’t work for two weeks and don’t make a penny and still pay rent. Plus Succos and rh etc. then there’s winter vacation and Chanukah where even if I want to work my clients are mostly not coming. Plus the summer— half my clients are in the country and not coming regularly (including many teens who are in camp)— and don’t forget I’m still paying rent. Then a random day like today— one client is away on vacation, one is making a bar mitzva, and one had a kids performance in school. 3/6 cancelled. Next week a few have finals so they aren’t coming. I can’t just take new clients to fill their spots, so my 2600 this week is down to probably 1800. And over the next few weeks I will see many cancellations for all those reasons. I’m not complaining. Overall I’m doing nicely, but it’s not the gold mine people think it is. Yes I can charge more but I would be hurting my clients. Yes I can work more hours but I would be hurting my family.


Wow, we need more therapists out there like you! It's nice to see how you take your client's struggles into consideration when charging them. Kudos to you!
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imanotmommy




 
 
    
 

Post Tue, May 21 2024, 8:04 am
amother Tanzanite wrote:
Cause I know her hours and I know that she’s full booked and has a waiting list, I can’t reschedule when I’m not available cause she wouldn’t have a different slot


Hopefully she's blocking some of those slots for the other things-supervision, eating lunch, phone calls, paperwork
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amother
Gold


 

Post Tue, May 21 2024, 9:33 am
As a LCSW who has been working in the field for many years, I would strongly discourage you from taking this route. What I would suggest is finding a field that is more lucrative than social work and use your natural desire to help people as part of that position. (if that makes sense).
Meaning, become a computer programmer (as an example) and take new employees under your wing and support them. Or become an OT and work with a vulnerable population.
There are so many ways to help and care about people without becoming a social worker and being so underpaid for what we do.
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amother
  Lightgreen  


 

Post Tue, May 21 2024, 9:35 am
amother Gold wrote:
As a LCSW who has been working in the field for many years, I would strongly discourage you from taking this route. What I would suggest is finding a field that is more lucrative than social work and use your natural desire to help people as part of that position. (if that makes sense).
Meaning, become a computer programmer (as an example) and take new employees under your wing and support them. Or become an OT and work with a vulnerable population.
There are so many ways to help and care about people without becoming a social worker and being so underpaid for what we do.

👏 👏 I don’t see why more people don’t see this as an option. They seem to think- If they want to help people: they must go into therapy career.
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amother
Papayawhip


 

Post Tue, May 21 2024, 10:34 am
amother Gold wrote:
As a LCSW who has been working in the field for many years, I would strongly discourage you from taking this route. What I would suggest is finding a field that is more lucrative than social work and use your natural desire to help people as part of that position. (if that makes sense).
Meaning, become a computer programmer (as an example) and take new employees under your wing and support them. Or become an OT and work with a vulnerable population.
There are so many ways to help and care about people without becoming a social worker and being so underpaid for what we do.


Just commenting as an ot- most likely this won't be lucrative either TMI
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amother
Mauve


 

Post Tue, May 21 2024, 10:44 am
amother Papayawhip wrote:
Just commenting as an ot- most likely this won't be lucrative either TMI


This.

None of the therapy fields are all that great.
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amother
Calendula


 

Post Tue, May 21 2024, 1:47 pm
Out of curiosity, are all those lamenting the insufficient wages specifically talking about LCSW's? Or does the same apply to those who put in the time to become PhD or PsyD?
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  mha3484




 
 
    
 

Post Tue, May 21 2024, 1:52 pm
A PhD can be done with a lot of financial support because you can conduct research for the university and TA classes for professors. If your a good candidate you can go for very little plus get stipends. This is way different then doing a PsyD or Masters Degree especially at a private college.

If your coming out of a PhD program with very little debt and can charge a higher hourly rate its a whole different set of calculations as to whether its worthwhile or not.
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amother
  Ultramarine


 

Post Tue, May 21 2024, 2:18 pm
mha3484 wrote:
A PhD can be done with a lot of financial support because you can conduct research for the university and TA classes for professors. If your a good candidate you can go for very little plus get stipends. This is way different then doing a PsyD or Masters Degree especially at a private college.

If your coming out of a PhD program with very little debt and can charge a higher hourly rate its a whole different set of calculations as to whether its worthwhile or not.


But if you're a frum person on the typical fast-track conveyor belt, those years in the doctorate program are worth a lot...
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amother
  Birch


 

Post Tue, May 21 2024, 2:19 pm
amother Tanzanite wrote:
Cause I know her hours and I know that she’s full booked and has a waiting list, I can’t reschedule when I’m not available cause she wouldn’t have a different slot


That doesn't mean that every single hour of the day is booked with clients. For example, I only allocate 10 hours a week for PP. I spend the rest of the week doing other things. I allocate time for research and continuing education. I supervise etc....
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amother
Ghostwhite  


 

Post Tue, May 21 2024, 3:22 pm
I am an LCSW. I work a mix of clinic hours and private practice hours.

I think it's a wonderful profession. I understand where the negativity is coming from. Most people don't make mega bucks. But most people across professions- nurses, teachers, slp's, ot's, PT's, accountants- aren't making it rich. I guess being wealthy was never a great asperation of mine. I knew I wasn't cut out to be a doctor, a lawyer or a business woman.

I make about 110k a year. It's not a huge salary, but for our family it's a second salary, so pretty good. I love that I make my own hours. I love exploring human behavior, the human heart and mind. I really love my work.

What I find most difficult about the job is the assumptions and expectations people seem to have of therapists.
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chocolate moose




 
 
    
 

Post Tue, May 21 2024, 3:34 pm
I wanted to go to social working school. I'd have to borrow the money then look for work which wasn't high paying plus many applicants. I didn;t do it.
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amother
  Lightgreen


 

Post Tue, May 21 2024, 4:10 pm
amother Ghostwhite wrote:
I am an LCSW. I work a mix of clinic hours and private practice hours.

I think it's a wonderful profession. I understand where the negativity is coming from. Most people don't make mega bucks. But most people across professions- nurses, teachers, slp's, ot's, PT's, accountants- aren't making it rich. I guess being wealthy was never a great asperation of mine. I knew I wasn't cut out to be a doctor, a lawyer or a business woman.

I make about 110k a year. It's not a huge salary, but for our family it's a second salary, so pretty good. I love that I make my own hours. I love exploring human behavior, the human heart and mind. I really love my work.

What I find most difficult about the job is the assumptions and expectations people seem to have of therapists.

How many hours do you work a week?
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amother
  Ghostwhite


 

Post Tue, May 21 2024, 4:20 pm
amother Lightgreen wrote:
How many hours do you work a week?


I'd say around 30, but not all of those hours are direct contact with clients. I supervise several LMSWs, there's paperwork and peer supervision, it's a nice mix.
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