Yes, You Can Make 100k!
After reading this article, I want you to be able to walk away with three different ways that therapists can make 100k. Some of you may be doubtful, but I want to assure you that this is one hundred percent possible!
While I don’t think that earning 100k is the goal that everyone needs to have, I do want you to feel empowered that this income can be achieved if that’s what you desire.
There are actually many different ways to reach six figures, but I want to share three of the more common ways to make 100k.
3 Tips For Therapists to Make 100k
- Seeing clients: Don’t underestimate how much you can earn seeing clients! You can absolutely make six figures by seeing a reasonable number of clients every week.
- Use a formula to set your rates and determine your salary in advance. I created a video that goes over in detail how to calculate your rates.
- Quick overview of formula:
- Take the sum of the amount you want to earn, plus estimated yearly expenses, then divide by the number of weeks worked per year. Next, divide by the number of clients you are wanting to see per week. The quotient is how much your average session rate should be.
- For example: $100,000 salary + $20,000 expenses = $120,000 /48 weeks = $2,500 weekly revenue/ 20 clients a week = $125 client rate
- Hire employees: aka running a group practice
- Management isn’t for everyone, and a lot of folks don’t realize how expensive it can be to hire someone. So, make sure you do the math to see if you have enough referrals for your employee(s) in order for you to break even or be able to make a profit.
- But, you could absolutely hire enough employees to break six figures and scale far beyond that!
- Sell a product
- If you’re not interested in management but you appreciate the flexibility of creating a product to sell, it’s completely possible to earn six figures from your product(s), regardless of how many therapy clients you might be seeing each week.
- Examples of products include: online courses, PDF ebooks, or honestly, whatever your creative juices can come up with!
- This is what I am doing! I have another article, if you want to learn more about how I earn six figures just working part-time.
Even More Ways
These are just a few examples. There are an endless number of possibilities for how you can earn six figures as a therapist. Be creative and see what fits your personality and unique marketable skills.
If you’re interested in supplementing your income in ways besides seeing therapy clients, you might be interested in my video covering 15 alternative career options for therapists.
Until next time, from one therapist to another: I wish you well!