Becoming an LCSW - Is it worth it financially?

amother

Ecru

Mon, May 20 2024, 10:36 pm

OlamChessed wrote:

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.

30k-40k for part time work may not be so bad depending on how much she worked. So many ladies here want to work part time for a full time salary

↑ OlamChessed ↓

Mon, May 20 2024, 10:38 pm

amother OP wrote:

so overall, if I want to live comfortably this field is def not for me?

I think you should read the mishpacha article that came out last week about social work. it could also be helpful to read it to get a better picture. Definitely not the job if you’re really just wanting to earn the money. You just have to assess what your standard of living is and go from there. I’ve seen jobs that are full-time social work jobs with supervision starting at 60k a year in NY.

amother

↑ OP ↓

Mon, May 20 2024, 10:38 pm

amother Ecru wrote:

30k-40k for part time work may not be so bad depending on how much she worked. So many ladies here want to work part time for a full time salary

considering u invest at least 60k... you'd have to work for yrs to pay off ur student debts...

did my therapist make this much of a sacrifice to help me? Wink

amother

↑ Ultramarine ↓

Mon, May 20 2024, 10:40 pm

amother OP 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?

My parents supported us for years and I had a small family (for other reasons).

Now I'm at the point in my career where I'm able to earn a very decent salary in less hours than other jobs. Because of the way things work, I can't just do more hours and make tons of money. But I'm grateful to be able to make a decent salary while being more flexible than my friends. But I don't think that earn even the starting salary of a good computer programmer.

(I know it's different, but a lot of things people say about the finances of speech therapy also apply to psychotherapy. There are a whole bunch of threads on why speech therapy is not nearly as lucrative as it looks.)

amother

↑ OP ↓

Mon, May 20 2024, 10:40 pm

OlamChessed 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?

amother

Tanzanite ↓

Mon, May 20 2024, 10:48 pm

amother OP wrote:

Idk, my therapist sees an average of 8 ppl per day, she works Sunday through Friday and charges 250 per session. She earns around $40,000 monthly

amother

Tulip

Mon, May 20 2024, 10:49 pm

Not an LCSW but similar profession. 50-60k for a degree. I needed 3000 hours supervised where I live and take 2 exams. Took me about 5 years given life circumstances and the number of countable hours I was able to get at my work. I was paid actually nothing to pennies ($20 an hour) for years.
Finally got licensed. Work at a clinic and make 60k a year. Working 40 hours a week.
I am planning on going private. If I am going to make 60k a year I would rather work part time.
I make nothing.
But I love my job.

↑ OlamChessed ↓

Mon, May 20 2024, 10:49 pm

amother OP wrote:

So do I, but I generally don’t spend $50 on a piece of clothing for my kids. I’m happy for them to wear hammy downs/ just generally don’t spend so much on clothing happy with children’s place, gap and old navy and also don’t have cleaning help, I don’t usually go shopping for myself if I do it’s maximum 3-4 times year. Sometimes it’s also about what your standard of living and the priority is. Smile

↑ OlamChessed

Mon, May 20 2024, 11:25 pm

amother Ultramarine wrote:

So one more thing. Even if you do well in private practice, you're going to have no job security. Is that something that would really bother you? Like someone could lose their entire caseload every time they go on maternity leave. You need to keep up with networking and referrals and all that all the time.

I definitely agree with this!!

amother

Rose ↓

Mon, May 20 2024, 11:44 pm

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.

amother

Birch ↓

Tue, May 21 2024, 12:35 am

amother Tanzanite wrote:

Idk, my therapist sees an average of 8 ppl per day, she works Sunday through Friday and charges 250 per session. She earns around $40,000 monthly

That is literally impossible.
If she would have a caseload of 48 clients, she would snap. She needs to leave time for supervision , required CE credits and just emotionally processing her sessions, as well as paperwork etc...

Being a therapist as not the same thing as doing data entry or being a secretary. I am on listservs, and chats with hundreds of therapists and there is just no such thing. (I know of one male therapist that has a caseload of close to 40, and even that is really unheard of.)

Additionally, therapists in private practice that charge that much do not work a 40 hour work week and wouldn't be able to fill up that many slots.

amother

↑ Rose

Tue, May 21 2024, 12:39 am

amother Birch wrote:

I do know those who have that kind of caseload. Those I know of are males who are supporting their families and see 8-10 a day including Sunday. Not saying it’s wise, but it’s not unheard of. And some charge 350-400 so they are making very good money. But it’s a brutal undertaking.

amother

↑ Birch ↓

Tue, May 21 2024, 12:49 am

amother Rose wrote:

I would love to know which therapists have a caseload like this. AND exclusively in PP AND at 350 a session!?