How much can I expect to make as a Clinical Social Worker with my own practice?!

How much can I expect to make as a Clinical Social Worker with my own practice?

Hey everyone. I am trying to figure out approximately how much money I will make as a Clinical Social Worker (MSW) with my own practice.

I use to work for a MSW who had her own practice and from what I was told she did very well.

I understand Social Work is not a field people work in to make a lot of money; they do it to help others. That's exactly what I want to do, but I also want to know I can live comfortably while doing so.

If anyone has any input on this I would love to hear it. Also, if there are any MSW's out there with their own practice I would love to know the up's and down's of the business and how they are doing financially with their business.

Thanks everyone!

Michelle

Hi Michelle

I'm a licensed clinical social worker, over 25 years experience in southern CA; have had both private practice and paid employment experience.

Not sure the community "Snazzle" works in or what hours, but $86,000 from private practice seems too optomistic to me. If you had full time paid employment and did private practice on the side I think that'd be realistic for a grand total, but that would be after you'd become well established.

I don't know more than a couple of SWs (out of maybe a hundred) in private practice that are making that kind of money. In both cases they have had plenty of additional formal education/training and more than 30 years as private practitioners. Plus (and this is key) a well developed referral network.

Biggest "down" for private practice for me was the self promotion needed to start up private practice. No, scratch that, the biggest "down" is the constant paperwork and phonecalls to beg insurance companies for more authorized visits. Everyone says "Oh, I'll get around that by only taking private pay clients" but there are not enough of them to go around to make anywhere near 86,000!

Most SWs I know who are doing full time private practice are getting around 40,000-50,000 and working their tail off to do it.

I'm making in the mid 70s in full time paid employment and I know I couldn't make that much if I was doing private practice. Plus, remember that private practice doesn't provide health insurance or sick leave or vacation days. My employer uses .3 as the multiplier to determine the value of non-wage benefits, meaning that taking into consideration the value of health insurance, sick leave/vacation, employer contributions to 401k etc. my 76,000 yearly salary is worth about 99,000 a year.

I do not know any SW who would advise you to do private practice unless your income would be secondary in your household and not critical to meeting your bills. If it's only supplimentary income for your household, then go for it if that's what you want to do.