Physical Therapist Salary: How Much Does a Physical Therapist Earn?

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A physical therapist (PT) helps patients recover from injuries, manage chronic conditions, and improve mobility through exercise and other treatments. The role is both physically and emotionally rewarding, but how much do physical therapists earn for their critical work?

In this blog, we'll dive into the salary expectations for physical therapists, how income varies by specialization and location, and the career's long-term financial outlook.

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Additional reading: What is Mr. Wonderful's Net Worth

What Does a Physical Therapist Do?

Physical therapists work with patients to:

• Assess physical limitations due to injury, surgery, or chronic conditions.
• Develop treatment plans that include therapeutic exercises, manual therapy, and modalities like ultrasound or electrical stimulation.
• Educate patients on ways to prevent future injuries and maintain optimal physical health.
• Track progress and adjust treatment plans based on patient outcomes.

They often work in hospitals, rehabilitation centers, private clinics, or nursing homes, helping patients regain strength, reduce pain, and improve mobility.

Average Physical Therapist Salary in 2024

In 2024, the average salary for a physical therapist in the United States ranges between $75,000 and $95,000 annually, though this can vary depending on factors such as location, level of experience, and specialization.

• Entry-level Physical Therapists: Typically earn between $60,000 to $75,000 annually.
• Experienced Physical Therapists: With 5-10 years of experience, salaries range from $85,000 to $95,000.
• Specialized Physical Therapists: PTs working in high-demand specialties like orthopedics or sports medicine can earn upwards of $100,000 annually.

Industry-Specific Physical Therapist Salaries

• Outpatient Physical Therapy Clinics: $70,000 - $90,000
• Hospital-Based Physical Therapists: $75,000 - $95,000
• Sports Medicine Clinics: $85,000 - $105,000
• Home Health Physical Therapists: $80,000 - $100,000

As with many healthcare professions, salaries can vary significantly by region, with physical therapists in metropolitan areas like New York City, Los Angeles, and Boston earning higher wages.

Factors Influencing Physical Therapist Salaries

Several key factors can impact how much a physical therapist earns:

1. Specialization

Specializing in a specific area of physical therapy, such as sports medicine or neurological rehabilitation, can lead to higher salaries. Specializations often require additional certifications, but they can significantly boost earning potential.

2. Experience

Physical therapists with more experience tend to earn higher salaries. Those who pursue advanced certifications or leadership roles, such as clinic directors, can also see significant pay increases.

3. Location

Geography plays a major role in determining salary. Physical therapists in high-demand areas or regions with higher costs of living, such as California or New York, tend to earn more than their counterparts in rural areas.

4. Setting

The type of healthcare setting in which a physical therapist works also influences salary. PTs in hospital settings or home health tend to earn more than those working in smaller outpatient clinics or schools.

How Does a Physical Therapist's Salary Compare?

When compared to other healthcare professionals, physical therapists earn a strong salary, especially when considering the rewarding nature of the job and the work-life balance often available in the field. Here’s a comparison:

• Physical Therapist: $75,000 - $95,000
• Occupational Therapist: $65,000 - $85,000
• Registered Nurse: $60,000 - $90,000

Beyond Salary: Why Physical Therapists Should Invest in Their Future

While physical therapists enjoy a solid salary, it's essential to think about long-term financial growth. One of the smartest ways to build wealth over time is by investing in real estate, which provides both monthly income and asset appreciation. With the demands of a healthcare career, it’s important to choose investments that work for you, even when you’re busy with patient care.

Here’s why real estate investing makes sense for physical therapists:

• Diversification: Real estate offers diversification beyond traditional stocks and bonds, reducing overall risk.
• Monthly Income: Rental properties can generate monthly income that supplements your salary.
• Appreciation: Over time, property values generally rise, allowing you to build long-term wealth.
• Tax Benefits: Real estate investments often come with tax advantages, such as depreciation and interest deductions.

Invest with mogul for a Stronger Financial Future

With mogul, physical therapists can invest in professionally managed real estate projects with as little as $250. mogul allows you to build income streams without the hassle of being a landlord. Founded by former Goldman Sachs executives, mogul provides access to diversified real estate portfolios that offer monthly dividends, property appreciation, and tax advantages.

With the founders having deployed over $10 billion in real estate investments and an average IRR of 18.8%, mogul is the perfect platform for healthcare professionals looking to grow their wealth over time. You can focus on helping your patients, while your investments work for you.

The Bottom Line

Physical therapists earn a competitive salary, and with experience or specialization, the earning potential can increase significantly. However, it’s important to think beyond just salary. By investing in real estate, physical therapists can build wealth and secure their financial future, all while maintaining their rewarding healthcare careers.

Start building your real estate portfolio today with mogul and enjoy the benefits of monthly income and long-term wealth creation.

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Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.