Which Graduate Degree Should I Pursue?

[montecristo15]

I am an undergrad at an ivy league, majoring in psychology and sociology. At first, I was very determined to pursue a PhD in clinical psychology, but now I am a little less certain. Which graduate degree should I pursue? The MD, PhD, PsyD, MFT, or LICSW? (I realize that some programs have funding like Clinical PhD programs and some MFT programs).

I am interested in a wide variety of topics including: adult psychology, forensics, sex therapy, and PTSD. However, I am less interested in research, although I wouldn't object to it, and more interested in therapy/counseling. My biggest predicament is that I don't want to limit myself by electing for a masters and not some form of a doctorate. (Note: whichever program I get into, I will also be funding myself through loans).

Please help! Any advice or experience would be truly appreciated. Thanks again!

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[priorities2]

direct entry PMHNP programs also exist, just to add to your list of choices.

I'd recommend reading these forums for those various areas and also shadowing/interviewing people you know who work in those fields, or people you find on LinkedIn, by calling up organizations etc.

 

[PHD12]

I am an undergrad at an ivy league, majoring in psychology and sociology. At first, I was very determined to pursue a PhD in clinical psychology, but now I am a little less certain. Which graduate degree should I pursue? The MD, PhD, PsyD, MFT, or LICSW? (I realize that some programs have funding like Clinical PhD programs and some MFT programs).

I am interested in a wide variety of topics including: adult psychology, forensics, sex therapy, and PTSD. However, I am less interested in research, although I wouldn't object to it, and more interested in therapy/counseling. My biggest predicament is that I don't want to limit myself by electing for a masters and not some form of a doctorate. (Note: whichever program I get into, I will also be funding myself through loans).

Please help! Any advice or experience would be truly appreciated. Thanks again!

If you want a therapy/counseling career, your salary potential will be very limited with a PhD/PsyD or MFT/LCSW. Therapy/counseling jobs and PP tend to pay very little and have limited growth opportunities. The doctorate is overkill (8 years of training) if you want to do counseling/therapy only. Most of the jobs out there are lumping PhD/MFT/LCSW together for the same position. There are folks who do well in PP, but it is becoming more and more difficult to survive as a therapist.

The MFT's that I know tend to fare the worst and are all taking on these unpaid positions after they graduate (in CA).

 

[xXIDaShizIXx]

If you want a therapy/counseling career, your salary potential will be very limited with a PhD/PsyD or MFT/LCSW. Therapy/counseling jobs and PP tend to pay very little and have limited growth opportunities. The doctorate is overkill (8 years of training) if you want to do counseling/therapy only. Most of the jobs out there are lumping PhD/MFT/LCSW together for the same position. There are folks who do well in PP, but it is becoming more and more difficult to survive as a therapist.

The MFT's that I know tend to fare the worst and are all taking on these unpaid positions after they graduate (in CA).

So what do you advise the OP to do?

 

[PHD12]

So what do you advise the OP to do?

NP or MD degree: Both solid options, but you have to be comfortable/interested in prescribing.

PhD: I would recommend a fully funded program with good outcomes, but only if the OP is also interested in research, teaching, testing/assessment, not just psychotherapy.

PsyD: I do not recommend (aside from Rutgers/Baylor types) because vast majority are not funded and have poor outcomes.

MFT/LCSW: Salary potential is very low. However, if you are going to go the master's route, your best bet is to get into a state school for an LCSW. It has the most versatility of the MA level degrees.

The PsyD/PhD route is just as long as an MD so I don't think it makes sense if you are only interested in a primarily therapy career. Therapists tend to be compensated very poorly and are in an oversaturated market.

Oh and loans are not your friend. You do not want to take out more than 50k or so in loans if you want to go into the psychology field. MD's can afford to take out more in loans.

 

[montecristo15]

NP or MD degree: Both solid options, but you have to be comfortable/interested in prescribing.

PhD: I would recommend a fully funded program with good outcomes, but only if the OP is also interested in research, teaching, testing/assessment, not just psychotherapy.

PsyD: I do not recommend (aside from Rutgers/Baylor types) because vast majority are not funded and have poor outcomes.

MFT/LCSW: Salary potential is very low. However, if you are going to go the master's route, your best bet is to get into a state school for an LCSW. It has the most versatility of the MA level degrees.

The PsyD/PhD route is just as long as an MD so I don't think it makes sense if you are only interested in a primarily therapy career. Therapists tend to be compensated very poorly and are in an oversaturated market.

Oh and loans are not your friend. You do not want to take out more than 50k or so in loans if you want to go into the psychology field. MD's can afford to take out more in loans.

Thank you so much for your breakdown and advice on each. I really appreciate your insight!

Do you know if NP's do any counseling or therapy in addition to prescribing medication?

If I were to do the MD route, do you think it would be worth getting loans for both a post-bacc program and medical school? I know that PsyD's can cost the same as some medical schools and that getting a clinical PhD can take as much time as medical school.

 

[mcvcm92]

Thank you so much for your breakdown and advice on each. I really appreciate your insight!

Do you know if NP's do any counseling or therapy in addition to prescribing medication?

If I were to do the MD route, do you think it would be worth getting loans for both a post-bacc program and medical school? I know that PsyD's can cost the same as some medical schools and that getting a clinical PhD can take as much time as medical school.

NPs can (and often) do therapy, in addition to medication management. And I think the general consesus around here is that it's only really worth to take out loans if you are getting a MD (so I guess the answer would be yes to your question).

Also, if your main goal is therapy, I would recommend the clinical MSW. Although the salaries are not often sky-high, you can definitely make a decent living off of it. Good luck!

 

[priorities2]

I do know someone making 65-70k a year as a private practice LMFT in an average cost of living city. But, then this person needs to pay their own health insurance etc... so yeah, I guess the salary potential is really not too high.

I'm going for PMHNP, currently in a BSN program. I feel the main downside of this route so far is the gross aspect of generalist, bachelor's level nursing education (think poop), and the external pressure to work as an RN before going back to be a PMHNP. However, you wouldn't have that pressure if you went through a master's entry route that combined RN and PMHNP education into a single degree program. And the gross stuff is temporary. PMHNPs do not have to deal with cleaning patients, etc.

Eh, I plan to take out 20-30k in loans for my graduate degree as NP. I don't think this is unreasonable, as the average NP salary in my metropolitan area according to the BLS is 95k a year. Starting salaries range from 70k-95k around here, and I feel that even 60k-70k in loans would probably be manageable, I just don't like the idea of risking the possibility of not being able to get a job. I guess MDs run a slight risk there too.

 

[perhaps11]

This was an accidental post (stupid iPhone app). However, I agree with the above regarding the Phd/PsyD as overkill for a career in therapy.