At My Denver Therapy, we understand that considering a career in therapy raises many questions, including financial ones. While the desire to help others is a powerful motivator, understanding therapist salaries can be an important factor in your decision-making process.
The Therapy Salary Landscape: A Range of Opportunities
According to the Bureau of Labor Statistics (BLS), the national median wage for therapists in May 2023 was $55,943. However, it’s important to remember that therapist salaries can vary widely depending on several factors:
- Education and Licensure: Therapists with doctoral degrees, such as psychologists, typically earn more than those with master’s degrees, like Licensed Marriage and Family Therapists (LMFTs) or Licensed Professional Counselors (LPCs).
- Experience: As with many professions, therapist salaries tend to increase with experience. Therapists early in their careers can expect to make less than those with several years under their belt.
- Practice Setting: Therapists working in private practices like My Denver Therapy often set their own fees, potentially leading to higher earnings compared to those employed by hospitals, community mental health centers, or schools.
- Location: Therapist salaries can differ significantly by geographic location. Generally, therapists in urban areas with a high cost of living tend to make more than those in rural areas.
Beyond the Numbers: The Value of a Therapy Career
While salary is a crucial consideration, a career in therapy offers more than just financial rewards. Therapists play a vital role in supporting mental health and well-being, making a positive impact on people’s lives.
Considering Therapy? We’re Here to Help
The decision to seek therapy is an investment in your mental health and overall well-being. Regardless of your career path, therapy can be a valuable tool for navigating life’s challenges. Contact My Denver Therapy today for a free consultation and learn how we can support you.
Written by Courtneyrose Chung, Licensed Therapist at My Denver Therapy
As the owner and operator of My Denver Therapy and one of the most requested trauma therapists in Colorado, Courtneyrose is one of the only therapists in the state who is a licensed marriage and family therapist, licensed professional counselor, and licensed addiction counselor.
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