How Much Do Counselors Actually Make?
Earning $100,000 per year as a counselor, therapist, or psychologist in private practice is the goal for many, but how realistic is it, really? What does making $100,000 per year really mean, how much do you need to charge to actually make $100,000 per year? Start learning in this video about therapists’ private practice salary, how to set your fees, how much you need for insurance and retirement, and much more.
Get a FREE 14 – day Kajabi trial and our $30k Launch Library Bonus when you sign up using our link:
https://go.privatepracticeworkshop.com/free-kajabi-trial
Steal our automated email funnel for FREE: http://www.privatepracticeworkshop.com/ck
FREE online training on how to get clients consistently: https://www.privatepracticeworkshop.com/getclients
John’s all-time favorite business books:
The Personal MBA https://amzn.to/2Lfbx07
Blue Ocean Strategy https://amzn.to/2Lbc6YN
Building a Storybrand https://amzn.to/3nn1jYE
Clockwork https://amzn.to/3nr2Nlf
Profit First https://amzn.to/2JutWVV
Entreleadership https://amzn.to/3q0w5rO
The Big Leap https://amzn.to/2XkXWXr
Music:
https://www.audiolibrary.com.co/ghostrifter-official https://www.audiolibrary.com.co/jonas-schmidt-and-henrikz https://www.audiolibrary.com.co/le-gang
https://www.privatepracticeworkshop.com/2019/11/06/therapy-private-practice-salary/
thank you .. your content is great
15 clients a week, 4 weeks a month (minus the 4 that you took for vacay), thats 60 different clients a month? Is that normal?
But how to get 20 clients a week for a year and the coming years….
This was very helpful, thank you!
Yes! Thank you!
I can tell that you were a great counselor because, among many other things. your voice is calming and easy to listen to. Oh, and I did "lean into" my deficits in dealing with money as you recommended. That was great advice! Thank you!
20 sessions a week.. will take some time to build up such a client base. Are you talking about a MA or PhD level Psychologist?
Who’s gonna pay 180
You have helped me make that decision of going into private practice. I was hesitating due to job security. So, my question is should I slowly go into private practice? Since at my current job they said I could have my own practice as long as I don’t counsel a certain demographic I currently serve.
Making six figures in private practice gives us the ability to build a large amount of savings and investments, and that offers far more security than any other type of job–and with a much healthier schedule and frequency of sessions! Totally worth it, if you ask me.
Although your point is well taken and I appreciate that you are helping counselors think about these things, there’s a couple of problems with this. First, the way that you came up with the number 130,000 wasn’t exactly correct. The problem is that there is a significant difference between 30% of 100k and 30% of 130k. In your example, 130k minus 30% would leave you with 91k (not 100k). You need to calculate it a bit differently. The actual amount needed to be left with 100k after taking 30% away is 142,850. That’s a 12k difference. The second problem is that the way you calculate the number of hours worked doesn’t factor in no shows, slow months, or other inevitabilities (even with a 48 hour cancelation policy). I do not know any counselors/ therapists that have a 100% fill rate. So, the number of hours per week will almost certainly need to be considerably higher. Also, the more fees are dropped and the more hours are added to the equation (e.g., 20 hours at 135 vs 15 at 180), this can actually increase lost revenue by increasing the chances that hours will go unfilled. Theres a balance to that because if the rates are too high, and 180 is getting close to that rate, then the hours are also less likely to be filled. I appreciate the point that you are making and I appreciate that we all need a starting point to calculate our rates, but I feel like this equation might be a little too far off. Either way, thanks for getting my therapist mind thinking about this mathy stuff!
I am still in school to get an msw right now but am interested in one day owning my own practice. How long should I practice for to gain experience before starting my own private practice?
180? wow that’s so cheap, in nyc which is where I live, therapists charge so much more. Great video
So you explained what I suspected; counseling is all about money like everything else. So what do counselors know that others don’t? So, probably counselors want to keep you in counseling because that equals more money. 💰 💵 💰
I started a company however, I wont be licensed until I finish school in two years. For now I am just life coaching. I find this to be a great resource as I will slowly build my company and attract clients.
I have my private practice and have always calculated weekly sessions needed at X dollars to hit a monthly goal to see I am on track to make my yearly goal. Thanks for the info, good stuff. I do like to work part-time and attempt to calculate for cancellations and no-shows.
Thanks for making this. Just wondering though, why you decided to stop regular counceling sessions & started helping councelors grow their business?
In the beginning when u said someone told you that…did u write a blog about that too? Cause I’ve read that online
Why the fuck don’t they teach us this in school this is what we need to be learning
I rarely subscribe when someone says click the sub button but this channel deserves it .. awesome stuff man. This makes me feel hopeful about a career path change
I have a question, If in this hypothetical scenario of $180.55 for 15 clients, how do most clients afford these rates? I would assume it would be through private insurance but does private insurance cover it all for the client usually or is there a copay? Also, how do you stay afloat when you have cancellations for sessions or holidays?
You are seriously a hidden gem. Thank you for all this information!
How/where can I learn how to file medical insurance like Medicaid?
I’m looking to be a school psychologist, can I do therapy (work at a private practice or mental health counseling center) on the side as well? I know school psychologists don’t do a lot of therapy, so I am looking for a way to incorporate that into my career if possible. 🙂
https://youtu.be/4BjKS1-vjPs
Stop it Bob Newhart
How do you get clients if you don’t want to take insurance and just build your private practice based on cash?
Thanks for sharing, it is very helpful! A big factor in expenses was left out though – office rentals. Especially in big cities like NYC, the rental would be tremendous. Do you have any suggestions to save office space costs?
This is so helpful! I’m taking my MFT licensure exam on the 16th my plan is to get out of agency work going into private practice
This whole video just made me so happy. Thank you for this.
Hey! Great vid! Do you think this is feasible for clinicians who practice behaviorism who are not yet licensed? How about if they are a certified life coach?
Can you charge this much with an MSW and/or PsyD? Does the credential make a difference?
Yea I was basically told half way through graduate school I should not expect to make much money at all. Starting out around 40k a year. I’m like whaaaa! A master level clinician, the rigor of the work and the standards we are held to as well as the additional hoops we through to get licensed…. seems crazy anyone at that level should be making less than 70k a year baseline. It’s criminal that a licensed therapist makes any less than that. I don’t get how the value of work gets determined. The need for mental health providers is through the roof and there are not enough in the field. I wonder why…. only 40 k a year after working to get a masters degree no wonder no one wants to go into the field.
Would you owe a significant amount in taxes If self employed and charging at $180? Or is there a way around this.
Do you feel that this is also accurate for Mental Health Counselors?
This is such good information! Thanks 🙂
This is Gold!
I’ve been running a private practice for 25 years. This is the most accurate and common sense video on private practice. Thank you.
does this also apply to people with a social work degree?
i asked my therapist how much she makes and she said 30,000 .. it scared me out of becoming a therapist & now idk what i want to do 😭
what is average of psychologists with phd salary in new york? anyone knows?
I’m a senior for my BSW right now looking to get into my MSW so I can be an LCSW,,, I will keep up with your channel diligently my friend!
I currently manage a business but looking to continue my education to obtain a masters in the field of counseling…..your video was pretty basic and super easy to follow. ❤
Seeing 15 clients a week sounds fucking insane. Also, £180 for a session also sounds fucking insane.
John is the man. So much value here 💥
I have a buddy who makes 200k a year through private sessions, consultation, and supervision but works his assssss off. I work part time but like the private practice and make more and work less than in an organization. Also because we live in a rural area the areas are not saturated with practitioners so we can make more. Great video very accurate.
The fact that these videos have less than 20k on them makes me feel like I’ve discovered some sort of secret that I desperately don’t want anyone else to know about haha
Great Channel. Formalizing my counseling qualification as we speak! ❤️
It’s annoying that this video didn’t answer the question though? How much do therapists actually MAKE? Still unclear. Vast majority of therapists will not be charging 180$/session. Vast majority of clients will not be paying 180$/session?
Just had this conversation with my wife and told her, holy flip, I’m starting a counseling business for you and we’ll invite other therapists to join!
Wow thank you for this video!!!