Physical Therapists Make Good Money

Do Physical Therapists Make Good Money?

Have you been asking questions like do physical therapists make good money? but before I go into the tips of answering your wonders, bear it in mind that managing money comes with your emotions, Most of our decisions around money are emotional; no amount of nitty-gritty knowledge about interest rates will change that.

It’s imperative to understand that emotions drive most decision-making. For example, we know we shouldn’t talk while eating read, but we do it anyway, we also know we should move our bodies regularly for our physical and mental health but still don’t exercise our bodies.

The same is true when it comes to money: We know we should spend less than we earn and save for the future, but many people find it really hard to do that… To understand your relationship with money, think about how money makes you feel.

What emotions come up when you make a credit card payment, get a tax refund, or have to negotiate a deal at work? Do you feel calm and confident? Or do you feel anxious and avoidant? Maybe you feel a pleasant rush of adrenaline — or maybe it depends on the scenario

Who is a physical therapist?

A physical therapist (PT) is a health specialist who evaluates and treats human body disorders. They may help you manage illnesses or injuries to your:

  • Musculoskeletal system (bones and muscles)
  • Neurological systems (brain)
  • Cardiopulmonary system (heart and lungs)
  • Integumentary system (skin)

Physical therapists help people of all ages and at different life stages. Some people visit a physical therapist for advice on becoming healthier and how to prevent future problems from occurring.  Physical therapists can be found in hospitals, long-term facilities, athletics facilities, schools, and clinics.

How to Become a Physical Therapists

  1. Earn a bachelor’s degree: This is the first thing you will need to become a physical therapist.  The courses required are anatomy, biology and chemistry.
  2. Enrol in a doctor of physical therapy program: Programs are typically three years, and usually require proof of a bachelor’s degree before admittance. Most programs may include biology, exercise physiology, and finance, according to the American Physical Therapy Association.
  3. Complete a clinical residency: There is also a clinical component to these degrees. After graduating, physical therapists might choose to complete a clinical residency or fellowship to gain more practical experience.
  4. Obtain your license:  Physical therapists need to pass the National Physical Therapy Examination. You also need to obtain state-specific licenses.
  5. Become board-certified: You’re required to pass an exam and complete several hours of clinical work before receiving your certification.
  6. Physical therapists are also expected to complete continuing education throughout their careers to stay on top of the latest techniques and maintain their licensure. They can also obtain additional certifications to ease specialization.

Can You Make Good Money as a Physical Therapist?

Yes, physical therapists make good money. The average physical therapist’s annual wage is likely to take care of the average person’s spending. This is also one of the reasons why physical therapists rank as one of the most satisfying careers to consider in 2022

Employment of physical therapists in the United States is projected to grow 18%, faster than average, from 2019 to 2029, according to the Bureau of Labor Statistics (BLS). A physical therapist’s income potential in the career and the average cost of education are also important factors that affect their career choice

Occupational figures from the Bureau of Labor Statistics show the highest median physical therapist wages go to nursing and residential care facilities.

The average salary for a physical therapist is $60,000 per year. The median salary for physical therapists in 2019 was $89,440. While the top 25 per cent made $104,210 that year, the bottom made $104,210 that year, while the lowest-paid 25 per cent made $73,940.

Physical Therapists’ Salary: An Overview of How Much Physical Therapists Make 

  • Average Salary: $91,010
  • 10th Percentile Salary: $62,000
  • 90th Percentile Salary: $116,000

According to the Bureau of Labor Statistics (BLS), the national average wage for physical therapists is $91,010. The bottom 10 per cent of physical therapists have annual salaries of less than $63,530, while the top 10 per cent make over $126,780. 

How Much Do Physical Therapists Make Per Hour?

According to BLS, physical therapists make up to $43.75 per hour. This hourly wage for physical therapists is also dependent on a myriad of other factors, including certifications, physical therapy education, experience, and other accompanying skills. 

 A Salary Breakdown by Location, Experience, and Skills On How Much A Physical Therapists Make good money.

Physical therapists’ wages, like any other profession, are dependent on factors such as geographic location, clinical experience, and skills. Below is a breakdown of the salary of physical therapists based on these factors. 

Physical Therapists’ Salaries by Location

 Physical therapists in the five states where the salary range is the highest.

Location25th Percentile SalaryMedian Salary75th Percentile Salary
New York$82,264$91,763$106,395

Physical Therapists’ Salaries by Level of Experience

Experience Level10th Percentile SalaryMedian Salary90th Percentile Salary

Physical Therapists’ Salaries by Skill 

The table below shows some high-paying skills and how they influence how much physical therapists make, according to data from PayScale. Additional training in these areas can increase a physical therapist’s typical salary by a few thousand dollars. For instance, having home health/home care skills can enable physical therapists to earn a much higher average annual income. 

Skill10th Percentile SalaryMedian Salary90th Percentile Salary
Home Health/Home Care Skills $68,000$87,000$105,000
Home Care Skills$62,000$82,000$103,000
Wound Care Skills$62,000$82,000$101,000
Certified Hand Therapist Skills$60,000$81,000$99,000
Geriatrics Skills$65,000$80,000$99,000

Ways to Boost Your Income as a Physical Therapist

The physical therapy profession is vast, varied, and diverse. Physical therapists work with patients of all ages to diagnose physical injuries, create treatment plans, monitor progress, rehabilitate after injuries, manage chronic conditions, and prevent new injuries from happening.

There are also many different environments available for physical therapists to work in, from large hospitals to nursing homes to home healthcare. With so many options to choose from, it can be difficult to know which routes you should take to maximize your earning potential as a physical therapist.

Related: 4 Important Questions to Ask Before Borrowing Money

Here We Present tips on How to Boost Your Income.

Physical Therapist Career Path Choices That Will Boost Pay

According to the Bureau of Labor Statistics(BLS), the highest-paying environments for physical therapists to work in our nursing and residential care facilities followed closely by home healthcare services.

In 2017, the median annual wage for physical therapists working in nursing and residential care facilities was $92,320, while the median annual wage for in-home healthcare services was $92,320. Physical therapists working in offices of physical, occupational, and speech therapists, as well as audiologists, saw a much lower median wage in 2017, at $82,620.

Owning your own clinic is also a goal to work towards on your path to higher pay. This could be the right time to open a clinic: data from the Bureau of Labor Statistics show that the employment of physical therapists is projected to grow 28 per cent between 2016 and 2022, faster than the average for other occupations.

According to the BLS, as the baby boomer generation ages, demand for physical therapists will rise. Because demand for physical therapists is rising, there will be an increased need for clinics, and an increased supply of patients willing to pay for them.

Physical Therapist Skills That Will Increase Your Pay

Specializing exclusively in one area leads to higher pay and better career opportunities.

Which specializations are the most lucrative? Sports medicine is one of the highest-paying specializations in physical therapy, according to the Physical Therapist Alliance. Physical therapists who specialize in sports medicine are typically employed both in private clinics and by athletic institutions such as professional and college sports teams.

Another high-paying speciality for physical therapists is geriatric medicine. Nursing and residential care facilities offer the highest median pay for physical therapists, according to the Bureau of Labor Statistics. There will also be increased demand for physical therapists specializing in geriatric medicine as the baby boomers generation ages, resulting in higher pay for those with the speciality and experience.

In addition, as chronic conditions like diabetes and obesity have become increasingly prevalent, more physical therapists will be needed to help patients manage their ageing lives with these conditions.

3 Tips to Avoid Being Broke as a Physical Therapist and Make Good Money;

Physical therapists are seen as being broke but read on in order to avoid becoming broke as a physical therapist and make good money because lots of Physical Therapists Make Good Money.

Physical Therapist (PT) School Loans

Student loans can be seen as the elephant in the room, therefore let’s look into it:

Medical school is expensive which we all know and physicians commonly graduate with $200k–$300k of debt.  Unfortunately more and more physical therapists are finishing physical therapist school with upwards of $100k–$200k in student loans.  

This is absolutely one of the worst things you can do financially. So as a physical therapist who intends to make good money and not go broke, the simplest way to reduce student debt is to go to a cheaper physical therapist school, such as a public university or one of the schools on this list. You can as well include living with a roommate or paying part of your tuition through a job you maintain through school.

Physical Therapist Salary

Fuzzy feelings won’t pay your student loans, and neither will a meagre starting salary. I’ve been alluding to it from the top, but the second reason PT grads are broke is that they start off on a salary too small for their gigantic student loan debt. 

But in the quest of making good money as a Physical Therapist other than betting on raises to pay your debts, you could take on some financial risk and open your own clinic. Maybe a job as a clinic manager would come along. Although these can be great ways to increase your salary, they aren’t reliable options for 80% of therapists in the workforce. So to say, don’t rely on just your salary.

Lifestyle Creep

Lifestyle creeps simply mean that as you earn more, you spend more as another reason for making physical therapists broke but in order not to be broke and make good money as a physical therapist you try avoiding living the lifestyle creep by earning more and spending less.

Final thought

Physical therapy plays one of the most important functions in our health system. In the event of a physical injury or illness, physical therapists are relied upon by millions of people to restore their health and mobility. That is why we will always need qualified physical therapist assistants to support patient recovery.

In the event of an accident, a sports injury, surgery, stroke, or other trauma, physical therapist assistants have one goal— to help their patients overcome all physical obstacles to improve their health and mobility.

For anyone who feels passionate about helping people overcome their physical limitations, this profession can be extremely gratifying. Moreover, physical therapist assistant training can lead to greater benefits, higher salaries, and multiple career opportunities across a variety of industries and healthcare settings.

Frequently asked questions and answers

How Much Do Freelance Physical Therapists Make? 

The average income of freelance outpatient physical therapists is $82,978 per year. Freelancers in this field also have a flexible schedule and can see a variety of patients. The median hourly wage of private-practice therapists is $39.89. However, the majority of physical therapists who have private practices earn from $34.13 to $43.75 per hour. 

What is a Physical Therapist Job Outlook?

The Bureau of Labor Statistics projects physical therapists have an employment growth rate of 21 per cent between 2020 and 2030. BLS also estimates that there will be 15,600 new physical therapy job openings through 2030. This estimated job growth rate is faster and higher than that of most occupations. 

Is Physical Therapy a Good Career? 

If you enjoy working with people to develop a treatment plan and help them recover their physical health, then yes, physical therapy is a great career for you. As seen from the information and statistics above, this is a relatively high-paying job for which the median wages increase as one garners more experience.

How do physical therapists get rich?

  1. Take on a few physical therapy shifts…
  2. To provide telemedicine services…
  3. Becoming a physical therapy consultant will help you to achieve your goals…
  4. Deliver therapy in the comfort of your own home…
  5. Becoming a personal trainer would be a great way to make money.
  6. Take a first aid course and become an instructor…Write for a healthcare or physical therapy website as a freelancer.

Similar Posts

One Comment

Leave a Reply

Your email address will not be published. Required fields are marked *