PT salary differences..?

[Nef]

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I apologize for cluttering the board with salary questions but there seems to be a discrepancy for me with the salaries shown on job sites (salary.com, monster.com) plus people around me raving about physical therapy... and people on the internet with comments such as "you do not go into physical therapy with financial goals a priority" Salary.com tells me the median salary for PT was $70,000 (I'm in NYC) and I know of people that are able to work in two different offices and make up to $100,000. Then there are people on the internet telling me you will not make much money and being a registered nurse is equivelent to being a physical therapist (in terms of pay).. So I am wondering if all that is false..the ability to make up to 100 grand easily and a starting salary of over 50? I am sorry once again but.. thank you.

 

[Speechie]

In our system, PT and SLP are on a slightly higher salary grade than RNs. I think the prevailing wisdom is that you don't go into hospital-based therapy for the great earning potential... but there is a lot of money to be made in private practice. There's a lot of risk as well, which is why many of us prefer to work for another entity that can absorb some of the risk, free us from part of the billing nightmare, and which provides for insurance and other benefits.

 

[truthseeker]

I think the bottom line is that the better the job (that is the more appealing it is) the less you have to pay to fill it. I used to work in a sexy outpatient ortho/sports clinic (privately owned) in a metro area. We treated professional and olympic athletes, and generally the famous of the city. They paid well below the average for new grads and the raises were minimal. I moved to a rural hospital setting and get paid much more. I am trying to hire another two PTs but it is tough to get someone talented to move here so the pay is neccessarily higher to attract them. starting range for new grads is about $45K, 10 years of experience makes it more like $70K. you can live well in a small town on that. Rent in town here is 300-500 for a two bedroom apartment with laundry and a garage. bet you cant get that in NYC.

 

[bigdan]

I've been an OT for 7 years; both places that I worked had equal scales for OTs and PTs. The highest starting salary I've been privy to was 80K at a nursing home in SC. This was in 1998 when SNFs were still stealth in "billing" Medicare, so the shoe had yet to drop. I do know (personally) two PTs making over 100K - VERY close to 200K - but both are owners of rehab businesses. They work well into the 60s in terms of hours per week.

As others have pointed out, pay will depend on demand first and foremost, followed by location and then area of practice, in that order in my opinion. My best friend is a travelling OT and will clear around 90K, but he works in Tenn. and WVa. nursing homes. It's always gonna be what you wanna do vs. what you wanna make - and where you lie on that continuum.

Truth- we actually start our PTs a bit higher that you do, but it'd take longer to get to 70K in our hospital (15-20yrs). It's a tough market to hire in now; it's great to be a therapist looking for a job right now.

dc