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Good point. By that logic though, you should compare LCSW and LP, since there are also post-graduation requirements by state.Some of the previous posters seem to be unaware of the difference between MSW and it's clinical license, the LCSW. MSW and LCSW have different scopes of practice. One is allowed to provide therapy and one is not. They are not synonymous.
In my state the pay also vastly differs between the two. The LCSW is the level at which individuals are directors and supervisors and typically earns greater pay. To be in child protective services one need not be licensed, just have an MSW. To bill as a provider, you have to have the LCSW.
It may be confusing, but MSWs fill lots of roles, not all clinical. I just feel like if we are comparing clinical scope to clinical scope you should make sure and compare PsyD to LCSW not MSW.
*edited to add that depending on the state, the LCSW is a considerable additional time and money investment after getting the MSW.
If you solely focus on clinical licensure though, you lose the nuances of other opportunities that are out there. I know social workers in academia and consultation roles that have nothing to do with clinical practice, so it seems warranted to me to consider the full range of opportunities.