100k+ Salary?

[DPTMaestro]

As a PT, is it possible to make over 100k?

Spending 75k on grad school and not being able to surpass the 100k barrier is a bit disappointing.

Is there anyone here that is able to make over 100k?
How would you go about doing it?
How many hours do you put in per week?

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[CmichStudent]

This may not be quite the answer you are looking for, but here in Michigan I've seen help wanted ads for a PT that had salary ranging from 70k to 95k, I'd say 100k is breakable in the right area and with the right amount of experience, a little bit of luck never hurts either.

 

[Wrestler133]

I've seen a few "PT Wanted" ads in some University websites that say the salary is 90k to 100k, but most of them say salaries between 75k and 85k which still isn't that bad

 

[DPTMaestro]

I'm assuming thats working 40 hours a week.

How about working per diem on Saturdays and a few extra hours during the week?

Also, does anyone know how the medicare reform will affect physical therapy? Are we looking at a vast decrease in salary?

 

[TheOx777]

I cannot speak on it personally as I will be a PT1 this fall, yet I have seen a couple PTs on this forum state that they make in the low 100s. However, I think they work 5-10 more hours a week than the avg PT, work in home health, or a combination of income sources.

My $0.02:
I think making in the 100-125k range is possible;however, that is contingent on the following factors

-Supply and Demand(This is not just for PT either, but almost all industry; it is the golden rule of ECON 101 right?)
-Insurance reimbursement(now and into the foreseeable future)
-PT setting(inpatient vs outpatient vs SNF vs Home Health, etc)
-Location(big one! I cannot tell you how low some of the PT salaries are in certain parts of the country. I look at the numbers and just do a face palm)
-Experience/Skill Set/Knowledge/Added value to your hospital or clinic
-Willingness to work a non-traditional schedule(45-60hrs/week)
-Last but not least, sometimes you just need a stroke of "Luck"(whatever that is)

I feel the same way you do though. It would be nice to crack the low 100s one day, but I am not expecting it day one out of DPT school. The aforementioned factors need to line up though!

 

[TheOx777]

On another note, provided the fact that PTs who make the 100K+ salaries represent 10% or less of the PT population(according to BLS) I think ppl will be extremely guarded about opening the pandora's box of "salary talk." I, like you, am extremely interested though in figuring out how much the top end holds for future DPTs.

 

[lizzo76]

Keep in mind that whatever salary is advertised is what you would make to start (though not necessarily an entry-level salary, but just what you would make at the point at which you start the job, which may be a job which requires significant experience.) You would, presumably, get a raise each year or most years (dependent on the practice setting, I suppose.) If $100k+ is only 10% of the PT population, that may also reflect the fact that it's the relatively small number who have been in the field the longest who make the most (in general.) In any case, presumably after some time, your salary would be significantly higher than it was when you started. At any given time there may be an "upper limit" but usually salary ranges shift yearly, or periodically, so the upper limit is not something you can never go beyond. I think it is perfectly possible to make that much. It's possible to make that much even in some professional fields in which you start in the $30Ks, after decades in a field.

 

[TheOx777]

Lizzo76,

I tend to agree with your points. I think the underlying theme here is that many pre-PTs and younger DPTs are interested in making that salary earlier in their career(5-7 yrs out) and not "decades"(20+ yrs into) their career. There will be much argument about whether that line of thinking is wrong or not, because there are those who have dedicated their entire lives to the field yet have not cracked the 6 figure barrier.

My contention is that just like other evolving health care professions that are considered mid-level(PharmD, NP, PA,), future DPTs hope to be compensated along those lines. Much of that will have to do with the point I previously outlined. Also public perception, aggressive marketing, and an augmentation of the body of research regarding PTs efficacy for prevention, rehabilitation, and management of various conditions won't hurt either.

 

[jblil]

You can find some discussions and data re salaries at this site:
http://physicaltherapy.rehabedge.com/default.aspx
Check out the section titled "Private Practice/Business Development".

I wouldn't put too much emphasis on salary... Many people toil at a job they absolutely hate for 50 weeks a year, and then try to relax in the 2 or 3 weeks of vacation they have. I would gladly trade that for a job where I make a decent living (which we will), and enjoy what I'm doing.

Like our fellow poster johncrone, I am a "non-traditional" student. If I go through with the DPT, it'll be my 4th degree. I've made peanuts, and I've made a lot of money - but I've never truly enjoyed what I did.

 

[lizzo76]

"Decades" in the field referred to those starting at $30K-ish in other fields... for many PTs it would take far less time to break $100K (though some never will as you say.) And if you don't... you'll still be making a good salary. I am American but went to school internationally for another graduate degree (and now going for an OT masters) and paid less than I would have in the US, but those who got my same graduate degree in the US paid about what one will pay for a DPT in the US... with very little chance for a starting salary higher than the $40Ks. PTs will generally do pretty well. Don't be thrown by the high student debt... chances are you'll relatively quickly "make back" in higher salary what you've taken out in loans. (Not that you'll actually be paying off your loans quickly with your increased salary, but theoretically, one could.)

I'm also "non-traditional" and changing careers (to OT, not PT) and this will be my third graduate program! I've also gotten to the point where I want to enjoy my work and money is less important (somewhat paradoxically since I'll be more in debt than ever.)

 

[TheOx777]

"Decades" in the field referred to those starting at $30K-ish in other fields... for many PTs it would take far less time to break $100K (though some never will as you say.) And if you don't... you'll still be making a good salary. I am American but went to school internationally for another graduate degree (and now going for an OT masters) and paid less than I would have in the US, but those who got my same graduate degree in the US paid about what one will pay for a DPT in the US... with very little chance for a starting salary higher than the $40Ks. PTs will generally do pretty well. Don't be thrown by the high student debt... chances are you'll relatively quickly "make back" in higher salary what you've taken out in loans. (Not that you'll actually be paying off your loans quickly with your increased salary, but theoretically, one could.)

I'm also "non-traditional" and changing careers (to OT, not PT) and this will be my third graduate program! I've also gotten to the point where I want to enjoy my work and money is less important (somewhat paradoxically since I'll be more in debt than ever.)

Thank you for the clarification. I agree that PTs(at least if today's market is any indication) will make above average salaries compared to the typical workforce. I, too, value wanting to come in to work everyday and somehow being an agent of change. Like you my DPT degree will not be my first graduate degree, and I have work experience in a few different settings(although I am only 25).

In saying that, I hope to one day make a living where the burden of student loans does not prevent me from taking my future wife to dinner without pause, live in a neighborhood where you don't need a rocket launcher to check your mailbox(been there, done that)(yes I tend to be hyperbolic, but you get my point),go to the mall without thinking "is this a good idea" or even the decision to have children(should that be in the cards).Unfortunately, there are students saddled with debt who have to deal with these questions, and to me that is inconceivable. Bottom line, I think we are making a similar argument. I just hope future DPTs are paid what they are worth, and unfortunately in the present day that is not always the case.