Potentially for LCSW to earn 70k?

[Edward3nigm4]

So I applied to psyd programs this past winter, but after not getting into the programs I really wanted I sort of started to question what I really wanted in a program and a career and figured that a msw might be the better option. I made a thread about this last month too. I work at my family's psych clinic, and we have a lcswA I've been getting to know. She seems to love what she does, but I am involved with some administrative stuff too and know her salary (abour 42k). I love the versatility and flexibility the msw offers, but ideally I want to aim for a 70k salary by the time I'm in my 30's. Is 70k a bit too high of an expectation with the msw? I see job postings on craigslist for positions that are like 40$ an hour (which would be 80k a year), and it seems common if you keep looking. But people on these boards mostly say salaries won't break 50-60k.

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[Goobernut]

I don't think that's a seriously outrageous amount for later in your career. I see some director/supervisor positions advertise for that amount. How much you will make is highly variable. You may not be doing therapy, more case management and supervision etc.

How many years is this LCSW into her career? I think that 70,000 would be impossible for someone right out of a program and for several years after.

 

[Edward3nigm4]

I don't think that's a seriously outrageous amount for later in your career. I see some director/supervisor positions advertise for that amount. How much you will make is highly variable. You may not be doing therapy, more case management and supervision etc.

How many years is this LCSW into her career? I think that 70,000 would be impossible for someone right out of a program and for several years after.

She's actually a LCSWA, shes still getting her supervised hours. I think she's making good money for a person coming out of a 2 years masters. But I just don't see how her salary could jump up from 40 -> to 70 just by getting her full license. Something just doesn't add up.

Also, it seems that most insurance companies don't reimburse for masters level therapists, unless they are working in a large group practice? I need to do my homework on this more, but from what i got at our billing office its a weird situation.

 

[MBellows]

Also, it seems that most insurance companies don't reimburse for masters level therapists, unless they are working in a large group practice? I need to do my homework on this more, but from what i got at our billing office its a weird situation.

This is entirely dependent on the state. Many insurers are moving to a preference for master's level clinicians because they can get away with charging less. $10-$30/hr may not seem like too big of a difference, but for a company with a few thousand plus people looking for services, it's a pretty big chunk of change.

 

[Vasa Lisa]

In my area - a licensed MSW with experience starts at about 50K and experienced ones are in your stated range. AND they are in admin positions not doing a lot of tx - but managing other clinicians.
VasaLisa

 

[Slugathor]

So I applied to psyd programs this past winter, but after not getting into the programs I really wanted I sort of started to question what I really wanted in a program and a career and figured that a msw might be the better option. I made a thread about this last month too. I work at my family's psych clinic, and we have a lcswA I've been getting to know. She seems to love what she does, but I am involved with some administrative stuff too and know her salary (abour 42k). I love the versatility and flexibility the msw offers, but ideally I want to aim for a 70k salary by the time I'm in my 30's. Is 70k a bit too high of an expectation with the msw? I see job postings on craigslist for positions that are like 40$ an hour (which would be 80k a year), and it seems common if you keep looking. But people on these boards mostly say salaries won't break 50-60k.

It really depends on the state you live in, if you work for a none-profit/community agency (these guys pay the worst and I know ppl that work at these places that apply for human service programs sigh), and if you go federal. Those numbers are guaranteed , if not higher when you get licensed at the VA. Get that LCSW license asap

 

[FallenMind]

Like Slugathor noted, it really depends on the state, and it also depends on the practice. I'm a clinical mental health counselor and I currently contract under a practice owned by a LCSW. Now, I don't know how much she makes personally, but I would guess she makes anywhere from 70K-80K. She owns the practice and she has several counselors, social workers, psychologists, PSR Workers and BST Workers contracting under her. She pays these contractors a cut from what she would receive after billing Medicaid (which can be a lot just for one session). So if you have all these individuals contracting with you, driving around town conducting several sessions on a daily basis, and you bill Medicaid for every single session...that's a lot of money. Not to mention she probably makes profit from conducting her own sessions. She's a busy woman and she's great at what she does, but I know for sure she's making really good money by setting up this business model.

With an LCSW, you can also work for state agencies. These jobs typically pay a fair amount of money and the benefits are really solid. Good healthcare, job security, retirement plans etc.

But if you want to make lots of money with an LCSW, learn how to bill Medicaid for your services. It's seriously a pain in the butt and I heard it takes months of training, but it's good money down the line.