Advisors in training often ask me how much money an adviser can expect in a year. In many areas – for example education – this is a fairly simple question. Not so with consultants.
Consultants generally have to work free of charge until they have completed their thesis. Depending on where they find employment, they will have to work from the bottom up until they are fully licensed. I usually ask my students to plan five years after completing their bachelor's degree before they can really make a living and concentrate on their preferred areas of activity. That is a long time and even then the annual income varies enormously. Here are some considerations for consultants who are just starting out in the field.
The easiest way: By far the easiest way for therapists is to be hired by an established practice or hospital. Consultants may earn a little less than themselves here, but they don't have to deal with insurance companies (other than documents), pay the light bill, or plan ahead. In private group practices or hospitals you show up, enter your hours and go home. In such circumstances, it is not uncommon to work 20 to 30 hours a week, but your hours are set for you and you may not have flexibility.
Expect non-competitive contracts with these practices. This means that you cannot leave the practice and cannot take your customers with you. In some cases, you may not be able to open a private practice within a certain number of kilometers from the place where you worked if you decide to leave the company.
Subletting: A nuance on the "easy way" connects an existing practice by subletting office space. Here you may have to pay your own lighting bill and cover the costs, and you will do your own planning and billing. In this scenario, you may make more money per clinical hour, but with billing and paperwork, 20 hours a week is a very busy practice. An advantage of this option is that you have the built-in advantage of reputation and advertising for existing practice (provided, of course, that the reputation is good).
Opening your own practice: Establishing your own practice offers maximum flexibility and freedom. To do this, however, you have to start from scratch when creating your customer base. You also do all of your advertising, web building, billing and planning. This approach requires energy and commitment.
Teaching: As soon as you have completed a master's degree, you are qualified to teach in basic studies. Many consultants teach college courses locally or online as an additional source of income and for a varied work experience. Online courses typically cost around $ 1,500 per course, and traditional in-seat courses typically cost around $ 3,000 per course. This experience also offers you potential student recommendations. Contact the chair of a college or university where you want to teach for more information. Have your resume and transcripts ready.
Advice: Advice to schools, companies, churches, law enforcement agencies, lawyers and other public bodies not only offers additional income, but can also make your name known to other bodies.
Work for Free : Generally I want to get paid for my work, but if you work as a volunteer, you can earn more money later. I worked for a global company for almost 10 years and never charged them a cent, but I made tens of thousands of dollars from referrals because of my affiliation with that company. I knew that this was possible, so I initially agreed to provide free services for them.
CEs and presentations: As with teaching or consulting, training workshops and presentations at specialist meetings can help to make your name known to a wider audience. With this type of networking, it is important that you improve your "action". A poorly presented seminar can make you more known, but not in a good way. When I started teaching at the FBI Academy many years ago, the director at the time said to me: "I opened the door for you, but you had to keep it open." This is important advice.
Specializations, Licenses, and Certifications: Combined with maintaining your license (s) and working with local and national organizations such as the American Counseling Association, specializations can help you build your practice. If you are trained in marriage and family therapy, desensitization and reprocessing of eye movements, game therapy, dialectical behavior therapy or other specializations, you can stand out from others in the field and attract customers. Achieving special certifications can also give you the option to charge a higher hourly rate.
I cannot be exhaustive when I discuss all sources of income in a short column, but depending on where you live and which way you go, a full-time advisor can earn a very healthy living. You just have to work for it.
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Gregory K. Moffatt is a veteran adviser of more than 30 years and dean of the College for Social and Behavioral Sciences at Point University. In his monthly Voice of Experience column for CT Online, he would like to draw theoretical, ethical and practical lessons from his diverse career and inspiration for today's consultants, regardless of whether they are just starting out or have been practicing for many years. His experience spans three decades of working with children, trauma and abuse, and a variety of other experiences, including working with schools, businesses, and law enforcement. Contact him at [email protected].
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It should not be assumed that opinions and statements in articles appearing on CT Online reflect the opinions of the editors or guidelines of the American Counseling Association.