Therapists: Do You Need to Make More Money?
A new article was just posted that showed that 5 of the top 13 worst paying jobs that require a master’s degree were all variations of counselors and helpers. Marriage and Family Therapists, Social Workers, School Counselors, etc. all made the top list- despite these being positions that require not just a master’s degree but specific training, expertise, licensure, and so much more.
As the end of the year approaches, it is time to get clear about what is happening with your income, especially if you are in private practice AKA a business owner. You probably have taxes to pay (and they are often more than you think), and some planning to do to clarify what you need in 2017 to make a livable wage that works for you and your family.
Should You Take a Vow of Poverty?
I don’t believe that anyone should go into this profession for the money. I think people should become helpers and healers because they were called to the work, they are passionate about it, and they truly love helping people. However, I know that for therapists to do their best work- they need certain resources.
Remember Maslow’s Hierarchy of Needs? It doesn’t just apply to your clients! If you are struggling with basic needs like buying groceries, paying for healthcare, having time to move your body, eating food that sustains you, etc. it is hard to be present for the deep issues that your clients really want to delve into.
Money is simply a resource. It is a resource that allows you to buy food, pay your water bill, have a roof over your head, take your child to the doctor without stressing out- and so much more. It is also what allows you to stay home when you are sick without feeling panicked, and know that you will be able to continue to have the basic needs met when you are no longer able to work (retirement).
Do You Need to Make More Money?
It is time to be honest with yourself. You can do all the budgeting in the world, but at some point you might need to be honest with yourself if you just need to make more money. Here are some things you can do to make more money:
- Ask for a raise at your job
- Reevaluate and raise your private pay fee
- Ask for a raise from insurance companies
- Open a private practice
- Launch a new stream of income
I give you permission to explore what kind of resource you need in 2017 to be a happy, healthy therapist. And if you are exploring the idea of passive income, an out of the box addition to your practice, or multiple streams of income- we are having a free training on multiple streams of income for therapists next Tuesday!
Palmer, M. (2016). Therapists: Do You Need to Make More Money?. Psych Central. Retrieved on May 22, 2017, from https://pro.psychcentral.com/kickstart/2016/11/therapists-do-you-need-to-make-more-money/