Oversaturation/enough $?

[fbplayr75]

I am preparing myself to apply to PT schools this summer/fall,
I currently work for a MPT/MOT as a Tech, in working alongside someone with thier own practice I've come to realize that at least in the small town where we live, there is a severe over saturation of PTs. I was wondering if this trend is localized or the norm?

Another honest question: I love PT but I am concerned that I will not be able to provide for my family on what a PT makes, I don't want to my wife to have to work, but it looks like she probably will if I only make around $55,000 as previoulsy mentioned on this board. Any advice?

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[mac_kin]

Your salary will depend on your business skills and willingness to relocate and open a novel type of clinic in a good area. I guess it depends to an extent on your life priorities. If you want to have a family in a nice small town then I guess going for the MD would probably benefit you more $$ wise. I also recognize that some places have poor business but I'm a career driven woman and I'm willing to relocate and branch into other areas of health and wellness to make up for the lower salaries. Also, if you specialize in a specific area of PT you may come across better opportunities. For instance, going into pediatrics or cardiac rehab (lots of cardiacs in North America unfortunately). As a DPT your options are basically to work in a hospital/community clinic or start your own business. If you go for the latter, your profits will all depend on your business skills as I've stated.
Good Luck!

 

[Grue1some]

Supply and Demand.

 

[PREMEDWOAHS]

does it really work that way though? what with medicare compensation rates being so low for PT. i think not...even if supply increases you only get reimbursed the same amount, salaries are going to stay the same, you can only make as much as you get.

 

[PREMEDWOAHS]

double post. apologies.

 

[PT2MD]

Supply and Demand.

I really wish it were that simple, but the health care "market" isn't a true market right now. In fact it may swing even further away from a market based system into a single payer system. I won't stir up the debate on that can of worms, but I can say with confidence that supply and demand only makes up a part of the equation.

To the OP question. Although I am looking toward a career in medicine, I live very comfortably on my PT salary right now. The question of how much money is enough really depends on the lifestyle you choose to lead. If you want bigger bucks and this is your sole focus...MD will always (repeat always) be a better option than physical therapy. Physical therapy, as you've likely observed in your experiences, has plenty to offer as well. Good luck.

 

[Grue1some]

I really wish it were that simple, but the health care "market" isn't a true market right now. In fact it may swing even further away from a market based system into a single payer system. I won't stir up the debate on that can of worms, but I can say with confidence that supply and demand only makes up a part of the equation.

To the OP question. Although I am looking toward a career in medicine, I live very comfortably on my PT salary right now. The question of how much money is enough really depends on the lifestyle you choose to lead. If you want bigger bucks and this is your sole focus...MD will always (repeat always) be a better option than physical therapy. Physical therapy, as you've likely observed in your experiences, has plenty to offer as well. Good luck.

I agree with you, but another profession that may be a lot faster to get than MD or PT and has a lot of opportunity is nursing. You can pretty much fart and a job will fly at your face. So much flexibility as well. If you dont like one setting than go do another thats if you are not committed to that setting.

As an RN, you can go do the anestitist (sp) route, nurse practitioner, clinical nurse specialist, management or other areas. Endless opportunity. Also why work a 9-5 shift 5 days a week when you can work a 3 x 12 or 2 x 16. Another issue is not liking the job. Well go work a different shift or go to another facility that provides better patient ratio. Personally, I wouldnt want to deal with administration or dr's and residents so I would work 7pm to 7am.

It also depends what you want out of life. Hell spend half your life in med school, and it will be great in the long run~financially. As a PT, you can live a comfortable lifestyle. As a nurse, you can live with flexibility. I rather live flexible. Most important, pick something that you will enjoy for the next 40 years of your life. Dont waist your time or anyones if you decide on a program and later think it wasnt right for you.

Everyone needs to make money to live but why earn money in a profession that makes you feel miserable.

 

[ptdoctor]

I am preparing myself to apply to PT schools this summer/fall,
I currently work for a MPT/MOT as a Tech, in working alongside someone with thier own practice I've come to realize that at least in the small town where we live, there is a severe over saturation of PTs. I was wondering if this trend is localized or the norm?

Another honest question: I love PT but I am concerned that I will not be able to provide for my family on what a PT makes, I don't want to my wife to have to work, but it looks like she probably will if I only make around $55,000 as previoulsy mentioned on this board. Any advice?

I am a PT in San Francisco. You can make more like 75K here, but it is more expensive to live here, so that might even it out. There is also a SERIOUS shortage here so it is very, very easy to find a job.

 

[WildCat5]

I am a PT in San Francisco. You can make more like 75K here, but it is more expensive to live here, so that might even it out. There is also a SERIOUS shortage here so it is very, very easy to find a job.

Do you know any traveling pt's or were you one for any period of time? I would like to do that for a while.

 

[Heavenly4505]

I live in Indiana, and most PTs I know here make more than $50,000 a year. I've seen several jobs in the paper recently for PTs that offer $75,000. For the amount of education you have to get, it does seem that PTs might be underpaid. That's one reason why I decided to go for OT. It's one year less of school, and here in Indiana anyways, the salary is very comparable to PT. My friend works for First Step (early childhood intervention program) as a PT, and she makes almost $100,000 a year. There are so many settings that you can work in, and it really depends. I know nursing homes and hospice pay quite a bit, too, because a lot of people don't want to work in those settings.

As for being concerned about making enough so that your wife doesn't have to work, maybe you will marry a woman who WANTS to work A lot of women, like myself, are not content to just "stay home" and take care of the kids anymore. Women these days are career-driven. If both of you worked, depending on her job, you would lessen the burden of finding a top-paying job for yourself. Just a thought.

 

[PTtoMD]

If you like what you do, the money often follows. Of course not to the extent that we would like BUT PT"s who are driven and committed can do very well. I know many in the NY area making 70,000+. On top of that many see privates and you can charge a great rate. Some also teach and make some nice extra cash. There is a surprising demand in the NY area. We can't get enough PT's to fill the needs of the hospital where i work (NYC). Also, most friends who see privates have to turn down pts as they have too many already.

The key to making more money is finding a niche practice. Figure out a specialty that you love and become one of the best.

In terms of 'wasting' time, i think every part of our life journey is valuable. I am considering medicine now but i don't regret my time (or the $ spent) on PT. Whatever you choose-good luck! I do agree with an earlier post-do not choose your career just for the money. Happiness on a daily basis is a gift you can give yourself by following your heart/dreams and not looking for the mighty dollar!

 

[azzil]

I live in Indiana, and most PTs I know here make more than $50,000 a year. I've seen several jobs in the paper recently for PTs that offer $75,000. For the amount of education you have to get, it does seem that PTs might be underpaid. That's one reason why I decided to go for OT. It's one year less of school, and here in Indiana anyways, the salary is very comparable to PT. My friend works for First Step (early childhood intervention program) as a PT, and she makes almost $100,000 a year. There are so many settings that you can work in, and it really depends. I know nursing homes and hospice pay quite a bit, too, because a lot of people don't want to work in those settings.

As for being concerned about making enough so that your wife doesn't have to work, maybe you will marry a woman who WANTS to work A lot of women, like myself, are not content to just "stay home" and take care of the kids anymore. Women these days are career-driven. If both of you worked, depending on her job, you would lessen the burden of finding a top-paying job for yourself. Just a thought.

hi. I am looking for a job in evansville IN. I am wondering if you know openings in that area. I am making 80k/year now. I hope you can help me.
Thank you.

 

[PTbecomingDDS]

PA's make a good salary and the education is only 2 years...PT school can vary from 2.5 years to 4 to even 6 depeding on the program...as for me, medicare is continually cutting reimbursement for rehab services which sucks, add in corporate health and HMOs, PT salaries continue to slide...unless you are business oriented, you might feel underpaid (which all PT's are!!!)...another option is pharmacy...my friend works 7 days on and 7 days off with a starting salary of 6 digits, excellent benefits and there is still a demand for his services....all this for 5 years TOTAL education compared to 6-10 years for PT with a starting salary of $55000-60000, depending where you live...

on a side note, contract PT's make more but you have to accept bouncing clinic to clinic and if you like old people, nursing homes pay extremely well...I worked 3 days a week, 1 hour a day after my primary job and got paid $120/hr for performing one eval. a day (3 eval's per week)....

 

[scmbearkat]

It depends on the area, I work for a PT who has been trying to find another PT to help with the patient load for over a year now and has just now found someone. (small town! with not a lot to offer for the spouse of a PT that moves out here as far as other job options go)