First, thanks for wanting to get involved with research! We need more clinicians like that!
Find academic researchers in your area doing something you are interested in. I have several clinicians working with me on research projects, and then they parlay the work we do into something on their own with me providing whatever support they need (most often methodologic support and statistical analysis). The clinicians I have mentored have all been alumni, so easier to start with your own school and the faculty doing research you are interested in.
Although PhD was the hardest 4 years I have EVER spent, it is well worth it. I have posted this before, but I feel so strongly about this, it bears repeating.
1. DO NOT PAY FOR YOUR PHD! Of course you may have to take loans to live, but tuition should be covered by your mentor's research. You should also be working with your mentor in either a fellowship or as a graduate assistant. There are fellowships available through APTA, as well as NIH/NSF. For example, I had tuition and fees (and books) as well as a $24,000/year stipend as an NIH Fellow. I was not rich, but I could survive in mid 2000's with this.
2. Think carefully about your mentor/school you attend. The purpose of a PhD is education in becoming an independent researcher. If a mentor you are interested in working with at a school does not have funding (see #1), then is that the best or even an appropriate environment for you to be getting educated in independent research? There are a lot of issues in PT schools where faculty are receiving a "PhD" and schools make it easy and online. Well the graduates are not competent with independent research, and so these schools are not doing any favors to the students (off soapbox about this, but I really hammer this point with my students).
3. Think about your choice of degree. The "PhD" in PT are not giving you probably what you want since PT is a clinical science. You stated you have an interest in cardiopulmonary, then maybe consider exercise physiology, physiology, etc. PhD in things like measurement and evaluation can offer a broad application for your dissertation work (which is where your interest really comes out). If you are interested in teaching (like you commented) and your research interest is in PT education, then a PhD in Higher Ed or Adult Ed may be something to consider.
4. Do your homework. A PhD is a significant undertaking. Basically it is misery
, and I cannot imagine anything more stressful and draining. Before you consider it, visit schools and speak with potential mentors. A bad mentor is almost something you cannot fix and stops many people from finishing their PhD. talk to current students, as well as many faculty as you can. Do PubMed searches on any potential mentor...are PhD students included as co-authors? Are PhD students 1st author on anything?How much work does a mentor expect? It ranges from 20-50 hours/week and probably more than 50 (but no one will admit it
), plus classes. How long does it take for students to finish? 3-6 year of full-time work is a standard i think most people use.
Finally, although there is a lot of unemployment, and more prevalent, underemployment with PhD graduates, and you will hear about grads doing multiple post-docs since they cannot get a tenure-track position, PTs with PhDs are in demand. A quick search in the Chronicle for Higher Education last month had 38 faculty positions for PT/PhD. The pay is also competitive with a clinical salary since it has to be. A faculty in a PT Department will in all likelihood get paid more than a faculty member in Sociology (and a faculty in Business more than PT, etc, etc). Market values prevail to a certain extent.
Although funding, grant writing, publishing are required for a faculty member, if you go to the right school with the right mentor, you will have experience and education and skills in these things and then it is just another part of the job. It is not hard.....you just have to have appropriate training for it. And then get a job at a University with the support, infrastructure, and senior faculty to continue mentoring. Teaching is much harder than the research side of things in my opinion.