Running a private practice is something that many professionals aspire to do because of the potential to make an incredible income each year. This article will cover some of the statistics regarding how much private practice therapists earn as well as how you can start reaping the benefits of being one.
Private Practice Therapist Income Statistics: An Overview
According to Salary.com, licensed counselors and therapists who operate a private practice in Los Angeles, California, which is a large metropolitan area, typically earn about $69,000 per year on average, but realistically, it can fall anywhere between $60,000 to $80,000.
On the other hand, a family therapist’s median salary can be considerably less for someone who is working in Montpelier, Vermont. On average, a counselor or therapist from here will usually earn between $51,000 to $67,000 annually, with an average of about $60,000.
Different factors can certainly influence how much a private practice earns, including population. Los Angeles is significantly more populated than Montpelier, being nearly 4 million people versus nearly 8,000, respectively.
This can have an effect on caseload and even some competition between local counselors – there may be only a handful of therapists in Montpelier, whereas there can be several in Los Angeles.
However, even though a counselor in private practice in Montpelier typically earns less and might have fewer clients, the cost of operating a private practice may be significantly lower there than in Los Angeles, especially in regards to renting cost and overall cost of living.
Wages will also most likely be higher in California than in Vermont, which can naturally result in a higher salary for a therapist here, but when you consider these external factors, the individual from Vermont may have a higher net profit and be able to take home more money each year.
Luckily, there are options available for people who are looking to run a private practice but also have full control over their income by reducing or eliminating the effect that some of these factors can have on your take-home earnings.
What’s The Alternative?
In-person sessions are a traditional way of doing therapy, and there will always be a place for it, but online therapy services have grown significantly in popularity amongst both clients and clinicians.
Online therapy providers such as BetterHelp make it easy for therapists to connect with clients, and while there is a middle-man involved here, you will be essentially acting as a private practice, but with less hassle that comes from running a local business.
This type of therapy is performed remotely, and it can all be done from your own home, which means that you can save time and money in several areas, including avoiding paying rent for a business location and not having to deal with billing, insurance, legal, and other administrative paperwork.
BetterHelp will handle all of these concerns so that you can focus your efforts on counseling people, and thousands are signing up each day looking for assistance from licensed and professional therapists like yourself.
Because there is no shortage of clients who sign up for BetterHelp, it’s easy to develop a full-time schedule just like if you were at a physical location in your local area, and not having to commute means that you can possibly make room for additional clients. Additionally, you can save on gas, which means more money in your pocket.
People can make several thousands of dollars each month which is comparable to what you’d make a true private practice that you run, and with the perks and savings, it’s not unheard of for people to make six-figures each year practicing therapy online.
It’s also important to mention that BetterHelp never charges clinicians any fees for their services; your earnings are really your earnings and you can find an estimate on what you can expect to make by clicking here and applying today.
Hopefully, this article has shown you what private practice therapists make, but if you’re looking to retain that independence, but potentially make money doing so, there’s another option available for you. Online therapy has a lot of perks that clinicians love, and it could be just what you’re looking for.