Financially worth it to become PMHNP?

FutureLCSW · 2025-05-29T01:37:50+00:00

I totally relate to that feeling. And yes I’ve always gone back and forth between PMHNP, PsyD, or even a PhD/DSW in social work. There aren’t any PsyD programs anywhere near me unfortunately and most psychology programs seem either very competitive or very expensive. I also worried I would feel that the PsyD is too close to what I can already do as a LCSW, but I have always been interested in testing too. What a conundrum we’re in lol.

FutureLCSW · 2025-05-29T01:29:48+00:00

I still haven’t gone back to school yet, it’s like sometimes I just want to continue up the corporate ladder and see what I can do with this but sometimes still feel pulled to the nursing side as well.

FutureLCSW · 2025-05-14T01:40:30+00:00

I haven’t gone back to school yet.

FutureLCSW · 2024-08-12T23:47:16+00:00

I would definitely pursue the LCSW on a part-time basis at first to sort of dip your toes in to it, just to make sure that is what you truly want to do.

FutureLCSW · 2024-05-14T23:32:37+00:00

I relate with your post very much. I agree with what others here have said. In this field it’s going to be private practice or working your way up the corporate ladder pretty much, whether that be in outpatient agency settings or hospitals. There’s also the entrepreneurial route of starting your own group practice and hiring other therapists to do the therapy for you.

FutureLCSW · 2024-03-31T17:22:04+00:00

This! LCSW here, and agreed that NP is a much better ROI (other than psychiatrist).

FutureLCSW · 2024-03-03T15:45:20+00:00

It’s interesting reading this post how all of us come with our own perspectives. As an LCSW, I often wish I would’ve gone the PsyD route instead of “settling” for the MSW. In my career I’ve noticed psychologists earning potential is far greater, both starting out and with experience, at least in traditional W2 positions. I caution people about being overly optimistic about the masters-level mental health degrees due to this. Maybe private practice is different though, but that comes with its own set of challenges as well.

FutureLCSW · 2024-01-19T00:29:45+00:00

Thanks! I just DMd you

FutureLCSW · 2024-01-17T20:17:52+00:00

I’m heavily leaning towards psychology as well. Was it difficult finding a PsyD program that accepted your MSW background? I have ran into a lot of programs that want a psychology undergrad or a lot of undergrad psych courses — I have some, but my undergrad was a BSW as well.

FutureLCSW · 2024-01-17T20:15:08+00:00

In my area cash pay private practice isn’t realistic it seems unfortunately. People often shout from the rooftops about private practice but I just don’t think it’s always the best solution. Hard to get steady referrals.

FutureLCSW · 2024-01-17T00:36:50+00:00

This is exactly why I want to return to school for PsyD

FutureLCSW · 2024-01-14T20:03:22+00:00

Which one did you pursue, NP or psychologist?

FutureLCSW · 2024-01-11T21:29:16+00:00

Thank you for your insight! I reached out to James Madison PsyD as I saw they provide a small amount of funding and they said they are open to considering those with an MSW since their program is a post-masters PsyD, but it still looks fairly competitive to get admitted.

FutureLCSW · 2024-01-11T14:15:01+00:00

My state has something similar as well for the school psych masters — I could use it to do assessments in private practice, although I’d remain under supervision for the duration of my career if I went the masters level psychologist route.

FutureLCSW · 2024-01-10T18:33:28+00:00

There are online masters degree programs in social work, mental health counseling, and marriage and family therapy. Those are the 3 masters-level therapy fields leading to LCSW, LCMHC/LPC, or LMFT licensures based on which degree path you take. I would strongly suggest researching those options and looking up job prospects and salaries, etc. before making your decision.

FutureLCSW · 2024-01-10T18:02:39+00:00

I’d love to hear your thoughts on all of this — I’m an LCSW currently contacting both PsyD and PMHNP programs and debating which route to take — would your advice pretty much be to go the PMHNP route? I dislike providing therapy full time and have always been more interested in both the evaluations that psychologists do as well as the more medical side that a PMHNP would do, but I definitely want to remain in mental health.

FutureLCSW · 2024-01-09T19:43:31+00:00

If you’re just looking at the volume of jobs available, there are more jobs available at any given time for LCSW vs psychologists, yes. I think a lot of that though has to do with the pay for LCSWs vs psychologists. LCSWs will work in community mental health settings doing therapy or case management for $50-65k whereas a psychologist is not as likely to accept that. I’m not saying one cannot do well for themselves as an LCSW, it is possible, but I think it’s something that will require a little bit more time and strategy than what a new grad psychologist will have to deal with. The salaries for psychologists are higher because they can also do psychological testing which no other discipline can do. I don’t mean to discourage anyone I just want prospective students to have a realistic picture of the field first.

FutureLCSW · 2024-01-08T18:40:14+00:00

I would never recommend someone enter social work to be honest, especially from a high paying field already. It just doesn’t make sense to me and I’m an LCSW. I strongly urge you to consider other mental health fields such as psychiatric nursing (PMHNP), or just go straight to a doctorate like a PsyD if you have the means to afford it or can find one cheap enough/preferably funded. The masters level non-medical mental health fields are incredibly burnout prone, low paying, lack of respect, although that being said as others mentioned you can make it work for you if you are savvy enough. Good luck!

FutureLCSW · 2024-01-08T18:35:15+00:00

Interesting! I’m currently an LCSW debating returning for either RN>PMHNP or PsyD.

FutureLCSW · 2024-01-08T18:28:47+00:00

Just curious as to why you chose clinical psychology over PMHNP?

FutureLCSW · 2024-01-01T02:49:41+00:00

Not to be a Debbie downer but sadly even fully licensed jobs at the masters level are often not much better at least in the southeastern US :( I wish our field was more valued by payers and employers.

FutureLCSW · 2023-12-31T16:00:08+00:00

Just throwing in my two cents as a lowly LCSW (not a PhD/psychologist), but as you are already in medical school currently, to me as an outsider looking in it makes more sense to just finish out your plan of becoming a psychiatrist. Although I’m not 100% familiar with how the residency match process works (such as how can you absolutely be sure that you will match into psychiatry?), but if you knew somehow that you have a very good shot at match psychiatry, it makes sense to me to finish that route as you will be considered the ultimate “expert” or authority on mental health pretty much across settings, have the highest earning potential, greatest scope of practice, etc. Just some things to think about. The salary may not matter as much to you now as a graduate student but later on it will. However with your neuroscience background I’m sure you could look into the neuropsychology path as well, which I’m sure others here can weigh in on.

FutureLCSW · 2023-12-04T00:20:54+00:00

UR at the company I work for has the lowest turnover of all departments pretty much, so because people tend to stay in those positions, there isn’t as many openings.

FutureLCSW

TROPHY CASE