I like PT my only complaint is pay. Is the pay as bad as i think it is?

[abc245]

I have been shadowing for a bit now in various PT settings. I also have all the pre reqs done. After shadowing multiple PT offices, most of the PTs I work with have other side jobs. One is an athletic trainer for a school and others are doing some other jobs. I didn't think it was very appropriate to ask them how much they make nor if PT was not producing enough income for them for full time work. I am thinking as a new pt expect an income from 60k-75k and then caps at around 85k? This fairly accurate?

One has 2 office clinics and currently only has a PT aide instead of PTA cause she can't afford it. So it makes me think they are struggling and not producing enough money. I plan on working in So Cal. If the pay is 85-120k I will be happy with that. Anything lower makes me question if it is worth my time and schooling especially with the tuition. Ideally being a PT and make at least 6 figures I would be more than happy with in so cal. Is this achievable? Is the income enough to satisfy your needs? I don't need to be rich or anything, but 85k is the magic number I think to be satisfied in socal.

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[Blosk123]

I think unless you're a higher up within a bigger corporate physical therapy company the pay will never be 6 figures. It also depends on where you live and what type of clinic you work for. Here's a link with some info on the pay Physical Therapists : Occupational Outlook Handbook : U.S. Bureau of Labor Statistics
if your main focus is the pay then maybe pt isn't for you because it definitely isn't a super high paying job for how much schooling is needed.

 

[clyn2002]

It definitely depends on where you live. I'm in CA and PT's I know are making 95k to 115k. I would say the complete oppaotie. It is definitely high paying compared to some other health professions and job security is one of the highest. I know the PT in my family is making pretty much the most out of everyone else. Just googling pt salary shows around 84k with 57k being the lowest

 

[starrsgirl]

I think your numbers are very accurate and realistic. I'm in the midwest and sadly, don't know many PTs who even make 85K. 72-80K is more realistic here, new grads at 60K (unless you are willing to work rural, then you can start at 72K ish).

If you can keep tuition costs down, the pay isn't bad. If you are paying a ton of student loans from that salary, yes, you will notice it. I think it's very smart of you to think about these numbers now. I don't think many students take the time to crunch the numbers and run their living budget before going to school. (I encourage you to look at average housing costs of where you intend to work, thrown in a car payment, and the student loans and then see what you think.).

 

[DesertPT]

New grad pay varies from mid-50's to mid-70's depending on setting, job type and geographic location. Overall your numbers are not far off. PTs largely live a comfortable middle class lifestyle, but let me tell you a consistent 75k is a lot less stressful than an inconsistent 120k.

Realize that your hourly pay rate will probably be worse than your neighborhood electrician, but your job will likely be steady and predictable. Cash in the bank after taxes, other payroll withholdings, and student loan payments as a new grad will likely be in the neighborhood of $4k/month unless you do some regular PRN work. PRN/per diem can bring in an extra $1000/month post-tax if you're willing to work weekends. So if you think you can live comfortably in socal on that income, see you on the other side.

The gross income of the majority of American families is less than the currently reported median income of $85k/year for PTs, and most have less job security and satisfaction than PTs, so while debt to income ratio is certainly an issue and you should certainly choose your school, your profession and your lifestyle wisely, I don't think lifestyle is as big of an issue as internet forums make of it.

Do I think PTs really ought to be compensated closer to the $100-120k level? Of course.

Do many PTs have burdensome student loan payments that delay the achievement of their financial goals? Yes.

Do you see very many PTs walking into divey title loan shops or losing their homes? No.

Do I see very many PTs driving brand new luxury cars? Only the one's who've been around forever.

Do I stress about being broke as a new grad? A bit, but I've never been particularly well-off at and least I won't be as broke as I am as a student! And I think it's important to remember that many new grads want to cash in and live their ideal lifestyle NOW. The reality is that unless you were handed everything on a silver platter, most young professionals need to put their heads down, be patient and persistent, save their pennies and make their ideal lifestyle a 10 year goal.

This topic has been discussed many times on this forum if you use the search feature, FYI.

 

[DaveMillerDPT]

Out of school I took a PRN job working 30-40 hours a week at $40/hour. (no benefits of course but that is close to 80k, salary here was 60k with benefits so I stayed PRN). I then took a job as a traveler making close to 85k (much less tax so my takehome pay was about $1500 more a month than if I was working PRN at that rate).

I've now worked in 4 states with pay at or more than 80k since graduating. There were opportunities for me to work at 90k+ for skilled nursing and other locations but I did not want to continue working on these. I currently work in outpatient.

I sought these opportunities out for pay. I looked for places to work that paid me competitively. I did not settle for 60k just because I was the new grad. But I had to work in a couple places I didn't enjoy at first.

My last thought. PT's can make more doing other side businesses. I've talked about these a little on some other posts I've done. There are ways to make money outside of the clinic grind. Making more as a PT (6 figure salary is more than just possible, I have some posts that talk about this a little). It just takes some creativity and desire. If you are looking for a safe job that you do the 9-5, then expect 80k salaries until you qualify for management.

 

[abc245]

New grad pay varies from mid-50's to mid-70's depending on setting, job type and geographic location. Overall your numbers are not far off. PTs largely live a comfortable middle class lifestyle, but let me tell you a consistent 75k is a lot less stressful than an inconsistent 120k.

Realize that your hourly pay rate will probably be worse than your neighborhood electrician, but your job will likely be steady and predictable. Cash in the bank after taxes, other payroll withholdings, and student loan payments as a new grad will likely be in the neighborhood of $4k/month unless you do some regular PRN work. PRN/per diem can easily bring in an extra $1000/month post-tax if your willing to work weekends. So if you think you can live comfortably in socal on that income, see you on the other side.

The gross income of the majority of American families is less than the currently reported median income of $85k/year for PTs, and most have less job security and satisfaction than PTs, so I don't think lifestyle is as big of an issue as the internet makes of it. Do I think PTs really out to be compensated closer to the $100-120k level? Of course. Do I stress about being broke as a new grad? Sure, but at least I won't be as broke as I am as a student!

4k a month after taxes right after new grad right? I currently make 2400 per month right now.

 

[DesertPT]

4k a month after taxes right after new grad right? I currently make 2400 per month right now.

Sure, if you made $68k gross and took home 70% of your pay that would be ~$4000/month. Ballpark number.

 

[Cheezy89]

So far my friends who have been out of school don't even get close to 75K but that's expected as a recent graduate. It's also important to understand in this day of age, you can't be just a PT. You have to find ways to make some other forms of income. Whether it's an online fitness program that you develop for your patients when they are discharged from your clinic, or consulting for private practice. There is also the option to negotiate your salary which Dr. Ben Fung explains on his page: Ben Fung
Also follow people like Greg Todd, Aaron LeBauer and Paul Cough. Those guys will show you how to win in the field of Physical Therapy.

 

[Smash Atoms]

Plenty of the PTs I have spoken to here in San Antonio are starting at right around 80K, minus the few who went to outpatient ortho clinics and settled for a little less in trade for OCS training/certifications paid for by the clinic.

As with any job as well, look, be competitive, and if one employer doesn't give you a good enough offer keep looking.
I am applying to PT school this july, but I am very much a non trad... and have a deep background in business and management, and with just about any business you would be amazed at what you can get with good negotiation skills and the knowledge that you are an asset.

It also seems that the median pay by city/state looks like a line drawn with a squiggle pen... So if you dont mind moving, look at average cost of living vs wages and make a jump.

 

[pegasuscvc]

I suppose it depends where you are, but my understanding is wages run pretty high in SoCal. Starting salary for new grads there "should" (I know, LOL) be around $75K in the cities. If you're willing to go rural, harder to fill positions, you could start at $80-85K. Including the monthly student loan repayment benefit and salary, I started at $86K in rural Minnesota as a new grad. I think a mistake many new PTs make is thinking they have to snatch up the first job offered at low pay and be grateful because they're a new grad, but I haven't found this to be true. Well, ok, I guess it could be in few and far between, very competitive job markets. You can make really good money as a new grad if you know your own worth and are willing to go where the job is.

 

[abc245]

I suppose it depends where you are, but my understanding is wages run pretty high in SoCal. Starting salary for new grads there "should" (I know, LOL) be around $75K in the cities. If you're willing to go rural, harder to fill positions, you could start at $80-85K. Including the monthly student loan repayment benefit and salary, I started at $86K in rural Minnesota as a new grad. I think a mistake many new PTs make is thinking they have to snatch up the first job offered at low pay and be grateful because they're a new grad, but I haven't found this to be true. Well, ok, I guess it could be in few and far between, very competitive job markets. You can make really good money as a new grad if you know your own worth and are willing to go where the job is.

I can live with 85k. Wouldn't be happy with less though.

 

[hongryhippo]

I have been shadowing for a bit now in various PT settings. I also have all the pre reqs done. After shadowing multiple PT offices, most of the PTs I work with have other side jobs. One is an athletic trainer for a school and others are doing some other jobs. I didn't think it was very appropriate to ask them how much they make nor if PT was not producing enough income for them for full time work. I am thinking as a new pt expect an income from 60k-75k and then caps at around 85k? This fairly accurate?

One has 2 office clinics and currently only has a PT aide instead of PTA cause she can't afford it. So it makes me think they are struggling and not producing enough money. I plan on working in So Cal. If the pay is 85-120k I will be happy with that. Anything lower makes me question if it is worth my time and schooling especially with the tuition. Ideally being a PT and make at least 6 figures I would be more than happy with in so cal. Is this achievable? Is the income enough to satisfy your needs? I don't need to be rich or anything, but 85k is the magic number I think to be satisfied in socal.

Hello! I live and work in SoCal and my first year out of PT school my pay was 88k for my full-time job (40 hour weeks; hospital setting). I worked home health a few hours a month to make a little more on the side to pay off my student loans faster. Most of my classmates are making 80-95k the first year out of PT school (in various settings from private practice, hospitals, or SNFs). I would say it is definitely possible to make 6 figures working 40 hours a week after working about 5 years! Where I work, the cap for PT's is around 125k (I wish it were higher as the RN's where I work have a higher cap!) Make sure you don't just settle for the first offer you get. Also, make sure the job you accept has consistent room for growth.

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