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Fam, need an advice. Asking for a close friend. He has 2 offers 1. Jpmc: ctc 21 lakhs(excludes bonuses) 2. Morgan stanley through third party: ctc 27 lakhs (includes everything) Which is better in terms of career growth,job security? Work is sort of similar in both. #Morgan Stanley #JPMorgan Chase
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Ahhhh law school
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I do believe I’d be happier as a therapist, but I’m scared by the years it takes to complete school and licensing, and the thought of trying to financially support myself through it all.
Did anyone do a later in life career transition to become a therapist? What was it like? Are you happy with the choice you made? What was it like trying to financially support yourself along the way?
I was a pharmacist for 30 years before becoming a therapist. I continued working FT or PT during the 4&1/2 years it took me to earn my masters in counseling. I have since learned that some non profit agencies have grants (or tuition repayment programs) that help pay for the degree if you work there in another capacity. I am not licensed yet so am only making $20/hr (previous pay was $62/hr as pharmacist) but am confident that my earning power will increase after licensure (my state requires 1000 direct client hours which takes around 18-24 months on average). Having a “service to others” mindset is essential to overcome the low pay years. The work does take a lot out of you, but some days is it very personally rewarding. Would I do it again? I’m not sure to be honest…ask me in 5 years. 😊 Best regards to you in your decision.
Lots of people become counselors later in life. The income of a new therapist is much lower than 100k. At first I made 30+k. And there was a lot of school cost. It takes a couple years in Ohio before someone can be independent, which has potential for higher income. So I would suggest getting an HR job at a mental health agency and see if you can get school reimbursement from work. Doing something you love is very rewarding. Maybe volunteer as a mentor to get you feet wet to see if you want to take the leap. Onet website has great info on salaries where you live. Hope this is helpful.
I’m a social worker with a clinical license. It took 2 years for the MSW and another 2 years of supervision for clinical licensure making peanuts before getting my LCSW. If you can hold on for that long then you will end up doing well once you start practicing. Of course there are other issues that come along with private practice- insurance, referrals, etc. but it can be done and from a lot of what my therapist friends have told me they can make at or above that 100k mark. I have no interest in doing therapy so I work in the MH insurance space and let me tell you, we are in a crisis right now. You would have no shortage of clients that’s for sure.
Alternatively, I do also know a lot of social workers looking to “jump ship” into HR because of the burnout in our field too…
I say go for it. I don't think we are ever too old to transition into a different role. And for me, doing something I love is way more important than how much it pays. \
Bowl Leader
Love this outlook!
I say go for it but with the understanding that you will not make as much money as you did in HR. But if you are thinking of doing it and the pay cut is worth it, go for it. I love helping people and it's worth it.