PsyD (Adler) or MSW (University of Chicago)? Please help!

[mdm1117]

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Hi Everyone,

So my predicament is that I got into the University of Chicago's MSW program and the Adler School of Professional Psychology's PsyD program and I'm very confused as to which I should matriculate into. My ultimate goal is to open a private practice, which I know I can do with either degree. My concern with the PsyD is that it is extremely expensive. My concern with the MSW (eventually LCSW) is the training is very short and the salaries are much lower than people with doctoral degrees in psych (I'm not going into this profession for the money, but I would like to live comfortably). I am also worried that with only 2 years of training for the MSW that I will not be as well-prepared as a graduate of a 5 year PsyD program, but do I want to be in debt over $120,000 after I finish school? Is taking on this kind of debt worth it? The PsyDs that I've talked to have been practicing for several years and their schooling costed much less than mine will.

The PsyD is more in line with what I would love to study, but I don't know if I can stomach the loans.

I was also wondering if with the MSW, if I start out working in the school system, can I eventually open a private practice?

Any advice would be greatly appreciated! I really have to decide by Friday (5/15/09).

Thanks!

 

[thepsychgeek]

The University of Chicago has a highly recognized program (I'm matriculating there in the fall). I personally am a big fan of the MSW/LCSW. Keep in mind that with private practice, the name of your school and your amount of experience are what really count. The PsyD may offer a higher base rate when you begin, but I know a PhD and an LCSW in my town who charge the same rate, and have been practicing about the same amount of time (I actually think the LCSW may charge slightly more). Some PhDs make more, some LCSWs make nearly nothing. It's also easier to get agency work as an MSW- people with doctorates tend to be "overqualified" for a lot of jobs, especially in this economy.

I hoped this helps!

 

[Therapist4Chnge]

*Closing because it was cross-posted in Clinical* -t4c