Just came across your channel and switched a gruesome 40hr/week job for home health PT, I am glad I took that step three months ago and I appreciate you posting because I have been impacted by the message you sent out. I am tired of trading hours for dollars and I know there is more to it. Thank you Tim, good insight.
Great video! As someone who changed their major from PT to accounting (still in college), I’m glad I was able to learn about a year ago not to rely on only one source of income.
I’m 1yr late to this video but I’m about to enter my 3rd year of PT school. I love this profession but I also have an entrepreneurial vision. I love that you incorporated both! This is part of my long term plan! I love that I found you! I want to be. Rich PT that loves his job and also is financially free!
I was going to apply to all of my state schools but since COVID, I had to take an online Human Anatomy and Physiology 2 class. If they will accept that, I have no problem in going to a state school. It's still a hard class and not an easy one by all means with proctored exams and quizzes.
Hey man. I know some PTA's making 70k as new grads. I'm 21 years old, PTA seems like a better financial move than DPT by a long run, to me at least. What are your thoughts?? Considering my local PTA program is only 8k... What would you do?
BTW, i read rich dad poor dad :), my goals is to retire before 40 by investing 40-60% of my salary into the stock market (mainly index funds), living below my means to then live off of my investment portfolio basically. #FIRECommunity
8k sounds like a good investment to earn a solid income as a PTA. But remember the truths that you’ve read and don’t rely on that one income. I’d consider the PTA program if it’s local and you’re set on physical therapy. Especially since you seem interested in many different venues and opportunities to grow your wealth.
A lot of factors to consider and I can’t narrow down a decision with a quick comment. Both are good options. Especially the 8k PTA. Compared to a 200k DPT, the PTA wins. But like I said, too many factors to hypothesize about. It’d be just as tough of a reply to answer “which one, PT or MD”. Lots of factors to consider.
Are there any resources available for virtual observation hours?? I’ve contacted a good amount of clinics near me but many places, understandably, aren’t accepting observation students or already have a student. I know PTCAS has a section where you can list difficulties in getting pre reqs due to the pandemic but I figure virtual hours could at least offer some more competitive points!
I give you an A for effort! Unfortunately, I haven't heard of virtual shadowing and I don't think a PT clinic would be open to that because of HIPAA. But I like your creative thinking! Maybe you can reach out to a few PTs and ask if they'd be open to a phone call to answer some questions you have about being a PT. Then you can use this experience in your essay/application to show how dedicated you are to learning more about the career. I think schools will like how you're taking initiative during this crazy time.
Hey Tim! Great video! I'm applying for schools this year, but I think my chances of getting in and pursuing this dream of mine are locked on the path of going to a private school. I know you've said in videos time and time again that PT prospects should do everything they can to get into a state school. I agree with that 100%. However, I heard a statement from Pre-PT Grind (another channel) that for each year I don't get accepted to a program (public or private), I'm losing out on a year's worth of PT salary! What is your opinion on this statement? Am I really "losing out" if I were to wait another cycle so I can get in to a state school?
Hi Miro! I don't think you're losing out on a $70k salary by limiting your school choices to programs under $80-100k total. Ideally you'd keep the total debt equal or less than the typical PT salary. Yes, home health PTs can make 90-100k right out of school, and if that's what you want to do, then 100k in debt can be managed. But let's consider the math of waiting a year, or two, or even THREE years. Let's assume this: State PT school leaves you with $50k in debt. Private PT school leaves you with $150k+ in debt. So the difference is $100k. You're willing to apply to the most expensive schools out there so you don't lose out on earning $70k as a PT, right? But what if you wait a year and work somewhere for $12-$15 an hour? You have a bachelor's degree, so I would argue you can make $30k in one year. Yes it pushes back your "potential PT earning" by 1 year, so instead of making 70k, you make 30k. You 'lose out' on 40k. But did you?.... If you get in the next year to a state school, you've avoided spending an extra $100,000. Sure, you 'pushed back' your first year of earning $70k, but you also earned $30k that year while you were waiting / improving your resume / application. Remember, you only 'lost out' on 40k because 70k-30k=40k. Take the income you 'lost out on' and subtract it from the debt you were about to ADD from that private school (100k) and, you're ahead. You actually SAVED $60,000 (the $100,000 you saved by going to a state school MINUS the difference of $40k which is calculated by subtracting what you earned from the potential PT salary (70k-30k = 40k) Using this simple math, you can reapply to state schools for almost 3 years and still be ahead of a PT who graduates with > $150k in debt. Honestly, I'm sorry this advice is out there and that people are promoting this scarcity mentality that ultimately feeds the high cost of PT schools. Thanks for watching and for commenting Miro
@@PTProgress Thanks for the feedback! My biggest issue with my own situation is the fact that I might have to retake classes in order to raise my GPA to look more competitive for state schools. I haven't checked the prices for classes yet, but I assume it's going to be expensive. On top of that I also have living expenses to worry about which I assume will eat into my yearly salary if I were to prolong getting into school. The example you gave assumes that a private institution will cost more than $150k, is this taking into account living expenses? One of the private schools I am applying to has a tuition rate of just under $100k. I did also plan on starting off my PT career as a home health PT so I can aggressively pay back my debts within 2-5 years. So with that being said, am I still making a mistake if I were to "jump the gun"? Love your channel by the way!
Hey Miro. Thanks for the kind words. It’s not that I don’t want you to be a PT, you know that right? I just want you to avoid a crazy amount of debt. As you’ve pointed out, there are a lot of different variables to consider. Some private schools are more affordable. You may start in HH. You may have to spend $10k to retake classes. All those factors add up. I’m not saying you should avoid a private PT school altogether. But I am saying that the tuition / student loans should not be unlimited. There are PTs with 200k loans just from PT school. That’s insane. You just have to do your best to keep the debt low and that might mean setting a limit on schools based on tuition (private or public). If your only, ONLY option to become a PT was to attend a school and end up with 200k of debt, I’d say you need to make the difficult decision to consider a different career.
Well done Tim. This video is super engaging and worth its weight in gold. You are introducing ideas most PTs do not think about. Leveraging, Diversifying, and Ratios. Awesome!!
Hey Tim, thanks for the awesome video! I have always dreamed of becoming a Sports Medicine PT. However, I was also planning on potentially getting a Masters in Athletic Training and/or a PhD in exercise science to achieve jobs that would supplement my income as a Sports PT. I was wondering if you had any thoughts on whether pursing these things is smart. Thanks for all your videos and advice btw!!
Thanks for watching and for taking the time to comment. Some people pursue a PhD with a goal to teach one day. If you can get a PhD without adding student loans, then it could be a good option to consider. Getting a MS ATC and PhD AND a DPT....that's a lot. I'm sure there are some folks with all those degrees out there (I haven't met that unique mix of degrees) but I wouldn't say it's necessary. Honestly, if you want to teach in a college setting, the PhD is going to get you a job faster than the DPT. But in terms of a career IN physical therapy, neither the MS ATC or PhD will lead to huge clinical opportunities compared to just having a DPT. Even a sports residency doesn't guarantee higher pay or job opportunities. It's another conversation, but really if you're interested in opening up doors and new opportunities as a PT, your best option is to network and to get to know smart people. The only way I'd pursue a PhD is if I was SET on teaching at the university level. :)
I have a question about PT school. I just got out of high school and looking into doing PT. I'm historically not the best student out there and my grades in the past have been harshly average being mostly Bs and Cs. I'm not the most academic person in the world, but I still try my hardest. Just how tough is PT school compared to other fields? Thanks!
To compare it to your high school classes, it’s like having to take AP bio, AP chemistry, AP physics and two other difficult classes each semester for 3 years in a row. If that sounds like a challenge you’re up for, you’ll do well in PT school. If that sounds awful, it might be worth looking at other careers.
Tim Fraticelli - PTProgress Wow! Thanks for the fast reply! Putting into perspective like that really helps me gauge the difficulty. Thanks again so much!
No problem! It’s not easy, but most professional programs aren’t easy. Not that it’s any “easier” but you might look at a PTA program which is an associates degree and a lot less school to enter the field of physical therapy. Look up Antonio Sanson PTA for more details on being a PTA. 👍
I would love for you to do a video on books that you recommend. If you have found any books about communication or anything that you have found worthy of recommending.
Hey Tim, I look forward to watching more videos about these basic business principles. As a young undergraduate student who has focused mostly on the pre-requisites for PT school, I know little to none about personal finance. Any suggestions on other outside resources so I can learn more?
Hey Amanda! I plan on sharing a video soon about the top resources and books to read along with a few great personal finance blogs. There’s a great YT channel called 2Cents that has a lot of great videos that explain the basics of personal finance too.
Hey Tim, thank you for the video! I am an international student and I'm dreaming of become a PT one day as well! I was wondering if you know any international PTs that received their education in the US and how they managed their debts/ loans, if they had any? Maybe you know any tips or tricks that they used in terms of that? Thanks!
Hey, I just recently subscribe to your channel and love the information that you have been sharing thank you for your time. I was wanting to know do you know of any physical therapist that have a bachelor degree in anthropology?
Hey Tim, what universities would you recommend with a solid program and of course a decent cost in the state of New Jersey? I've watched a good amount of your videos now and want to apply to schools that are affordable and smart in the long run. I live in NJ so the cost would be that of an in state student. Great video by the way!
Here are the financial worksheets I mentioned in the video (balance sheet / cash flow statement) : www.ptprogress.com/financial-worksheets
Just came across your channel and switched a gruesome 40hr/week job for home health PT, I am glad I took that step three months ago and I appreciate you posting because I have been impacted by the message you sent out. I am tired of trading hours for dollars and I know there is more to it. Thank you Tim, good insight.
Great video! As someone who changed their major from PT to accounting (still in college), I’m glad I was able to learn about a year ago not to rely on only one source of income.
Awesome! Thank you for watching!
This was a much needed and inspirational video. I'm ready to start building my future in PT!
Love your channel! I've been binge watching
Nice video Tim. Wise words. Glad you're getting the message of financial literacy out there for PTs.
Thanks Trevor! That’s my goal :)
I’m 1yr late to this video but I’m about to enter my 3rd year of PT school. I love this profession but I also have an entrepreneurial vision. I love that you incorporated both! This is part of my long term plan! I love that I found you! I want to be. Rich PT that loves his job and also is financially free!
Rich dad poor dad....if anyone sees this, read this book
Enough said. 👏🏾👏🏾
Definitely this year has increased my financial awareness....and am ready to become a rich PT!😊 Thanks for these tips!! I
Can a Dpt use prefix Dr ?
I was going to apply to all of my state schools but since COVID, I had to take an online Human Anatomy and Physiology 2 class. If they will accept that, I have no problem in going to a state school. It's still a hard class and not an easy one by all means with proctored exams and quizzes.
Thank you, Tim.
Hey man. I know some PTA's making 70k as new grads. I'm 21 years old, PTA seems like a better financial move than DPT by a long run, to me at least. What are your thoughts?? Considering my local PTA program is only 8k... What would you do?
BTW, i read rich dad poor dad :), my goals is to retire before 40 by investing 40-60% of my salary into the stock market (mainly index funds), living below my means to then live off of my investment portfolio basically. #FIRECommunity
8k sounds like a good investment to earn a solid income as a PTA. But remember the truths that you’ve read and don’t rely on that one income. I’d consider the PTA program if it’s local and you’re set on physical therapy. Especially since you seem interested in many different venues and opportunities to grow your wealth.
@@PTProgress Thanks!. What would you personally go for if you were, say 20 years old? PT or PTA?
A lot of factors to consider and I can’t narrow down a decision with a quick comment. Both are good options. Especially the 8k PTA. Compared to a 200k DPT, the PTA wins. But like I said, too many factors to hypothesize about. It’d be just as tough of a reply to answer “which one, PT or MD”. Lots of factors to consider.
Are there any resources available for virtual observation hours?? I’ve contacted a good amount of clinics near me but many places, understandably, aren’t accepting observation students or already have a student. I know PTCAS has a section where you can list difficulties in getting pre reqs due to the pandemic but I figure virtual hours could at least offer some more competitive points!
I give you an A for effort! Unfortunately, I haven't heard of virtual shadowing and I don't think a PT clinic would be open to that because of HIPAA. But I like your creative thinking! Maybe you can reach out to a few PTs and ask if they'd be open to a phone call to answer some questions you have about being a PT. Then you can use this experience in your essay/application to show how dedicated you are to learning more about the career. I think schools will like how you're taking initiative during this crazy time.
Tim Fraticelli - PTProgress thank you for the feedback! I definitely appreciate it!
any ideas on how to start a PT business in California since LLC's are not allowed for licensed occupations?
Hey Tim! Great video! I'm applying for schools this year, but I think my chances of getting in and pursuing this dream of mine are locked on the path of going to a private school. I know you've said in videos time and time again that PT prospects should do everything they can to get into a state school. I agree with that 100%. However, I heard a statement from Pre-PT Grind (another channel) that for each year I don't get accepted to a program (public or private), I'm losing out on a year's worth of PT salary! What is your opinion on this statement? Am I really "losing out" if I were to wait another cycle so I can get in to a state school?
Hi Miro! I don't think you're losing out on a $70k salary by limiting your school choices to programs under $80-100k total. Ideally you'd keep the total debt equal or less than the typical PT salary. Yes, home health PTs can make 90-100k right out of school, and if that's what you want to do, then 100k in debt can be managed.
But let's consider the math of waiting a year, or two, or even THREE years. Let's assume this:
State PT school leaves you with $50k in debt.
Private PT school leaves you with $150k+ in debt.
So the difference is $100k. You're willing to apply to the most expensive schools out there so you don't lose out on earning $70k as a PT, right?
But what if you wait a year and work somewhere for $12-$15 an hour? You have a bachelor's degree, so I would argue you can make $30k in one year. Yes it pushes back your "potential PT earning" by 1 year, so instead of making 70k, you make 30k. You 'lose out' on 40k. But did you?....
If you get in the next year to a state school, you've avoided spending an extra $100,000. Sure, you 'pushed back' your first year of earning $70k, but you also earned $30k that year while you were waiting / improving your resume / application. Remember, you only 'lost out' on 40k because 70k-30k=40k. Take the income you 'lost out on' and subtract it from the debt you were about to ADD from that private school (100k) and, you're ahead. You actually SAVED $60,000 (the $100,000 you saved by going to a state school MINUS the difference of $40k which is calculated by subtracting what you earned from the potential PT salary (70k-30k = 40k)
Using this simple math, you can reapply to state schools for almost 3 years and still be ahead of a PT who graduates with > $150k in debt.
Honestly, I'm sorry this advice is out there and that people are promoting this scarcity mentality that ultimately feeds the high cost of PT schools.
Thanks for watching and for commenting Miro
@@PTProgress Thank you for this Tim
I totally agree with Tim!
@@PTProgress Thanks for the feedback! My biggest issue with my own situation is the fact that I might have to retake classes in order to raise my GPA to look more competitive for state schools. I haven't checked the prices for classes yet, but I assume it's going to be expensive. On top of that I also have living expenses to worry about which I assume will eat into my yearly salary if I were to prolong getting into school. The example you gave assumes that a private institution will cost more than $150k, is this taking into account living expenses? One of the private schools I am applying to has a tuition rate of just under $100k. I did also plan on starting off my PT career as a home health PT so I can aggressively pay back my debts within 2-5 years. So with that being said, am I still making a mistake if I were to "jump the gun"? Love your channel by the way!
Hey Miro. Thanks for the kind words. It’s not that I don’t want you to be a PT, you know that right? I just want you to avoid a crazy amount of debt. As you’ve pointed out, there are a lot of different variables to consider. Some private schools are more affordable. You may start in HH. You may have to spend $10k to retake classes. All those factors add up. I’m not saying you should avoid a private PT school altogether. But I am saying that the tuition / student loans should not be unlimited. There are PTs with 200k loans just from PT school. That’s insane. You just have to do your best to keep the debt low and that might mean setting a limit on schools based on tuition (private or public). If your only, ONLY option to become a PT was to attend a school and end up with 200k of debt, I’d say you need to make the difficult decision to consider a different career.
Well done Tim. This video is super engaging and worth its weight in gold. You are introducing ideas most PTs do not think about. Leveraging, Diversifying, and Ratios. Awesome!!
Thanks Will!
Hey Tim, thanks for the awesome video! I have always dreamed of becoming a Sports Medicine PT. However, I was also planning on potentially getting a Masters in Athletic Training and/or a PhD in exercise science to achieve jobs that would supplement my income as a Sports PT. I was wondering if you had any thoughts on whether pursing these things is smart. Thanks for all your videos and advice btw!!
Thanks for watching and for taking the time to comment. Some people pursue a PhD with a goal to teach one day. If you can get a PhD without adding student loans, then it could be a good option to consider. Getting a MS ATC and PhD AND a DPT....that's a lot. I'm sure there are some folks with all those degrees out there (I haven't met that unique mix of degrees) but I wouldn't say it's necessary. Honestly, if you want to teach in a college setting, the PhD is going to get you a job faster than the DPT. But in terms of a career IN physical therapy, neither the MS ATC or PhD will lead to huge clinical opportunities compared to just having a DPT. Even a sports residency doesn't guarantee higher pay or job opportunities. It's another conversation, but really if you're interested in opening up doors and new opportunities as a PT, your best option is to network and to get to know smart people. The only way I'd pursue a PhD is if I was SET on teaching at the university level. :)
I have a question about PT school. I just got out of high school and looking into doing PT. I'm historically not the best student out there and my grades in the past have been harshly average being mostly Bs and Cs. I'm not the most academic person in the world, but I still try my hardest. Just how tough is PT school compared to other fields? Thanks!
To compare it to your high school classes, it’s like having to take AP bio, AP chemistry, AP physics and two other difficult classes each semester for 3 years in a row. If that sounds like a challenge you’re up for, you’ll do well in PT school. If that sounds awful, it might be worth looking at other careers.
Tim Fraticelli - PTProgress Wow! Thanks for the fast reply! Putting into perspective like that really helps me gauge the difficulty. Thanks again so much!
No problem! It’s not easy, but most professional programs aren’t easy. Not that it’s any “easier” but you might look at a PTA program which is an associates degree and a lot less school to enter the field of physical therapy. Look up Antonio Sanson PTA for more details on being a PTA. 👍
I would love for you to do a video on books that you recommend. If you have found any books about communication or anything that you have found worthy of recommending.
What was your major in college? Is exercise science good to major in to become a physical therapist?
Yes, it is the most applicable major there is. I got my undergrad in exercise science and am currently 9 months into PT school.
A rich PT owns the clinic. If I had it my way, we'd all own our own clinics in abundance on every street corner. Staff PT's get paid
Please someone tell me how hard is it to graduate with this degree
love all your videos. really informative
Hey Tim, I look forward to watching more videos about these basic business principles. As a young undergraduate student who has focused mostly on the pre-requisites for PT school, I know little to none about personal finance. Any suggestions on other outside resources so I can learn more?
Hey Amanda! I plan on sharing a video soon about the top resources and books to read along with a few great personal finance blogs. There’s a great YT channel called 2Cents that has a lot of great videos that explain the basics of personal finance too.
@@PTProgress Looking forward to it, thanks!
Wonderful keep going bro🔥
Thanks!
Hey Tim, thank you for the video! I am an international student and I'm dreaming of become a PT one day as well! I was wondering if you know any international PTs that received their education in the US and how they managed their debts/ loans, if they had any? Maybe you know any tips or tricks that they used in terms of that? Thanks!
No I don't know anyone in particular, but the financial tips I share on the channel should apply to US and foreign PTs. Thanks for watching!
Hi, for International PT working in the USA you need to have your credential evaluated by an official agency. Go to FCCPT. My best wishes
You remind me of the crash course guy!
Oh, the YT channel, crash course? That’s high praise :) thank you
Hey, I just recently subscribe to your channel and love the information that you have been sharing thank you for your time. I was wanting to know do you know of any physical therapist that have a bachelor degree in anthropology?
Hi there! Thanks for subscribing and for your comment. Yes, actually someone in our DPT class was an anthropology major before starting PT school.
Awesome video !!!
Thanks!
Hey Tim, what universities would you recommend with a solid program and of course a decent cost in the state of New Jersey? I've watched a good amount of your videos now and want to apply to schools that are affordable and smart in the long run. I live in NJ so the cost would be that of an in state student. Great video by the way!
Thanks Denisse! Have you emailed the admissions team at the NJ schools to ask about total cost of attendance?
Cost-wise look into Rutgers University. The prices are great for in-state students. They also have two campuses for DPT so you can apply to both.
@@PTProgress I've tried to do my research online but I haven't emailed them yet. Will do that now thank you!
@@amandagensiejewski8335 Thats my top choice as of now considering I went there for undergrad! Thank you!
I am from Egypt
And in front of me a college of physical therapy or a college of pharmacy
Can you advise me about the best college?
لو بتحب الكيميا ادخل مجال الصيدله
اللي انت بتحبه
I almost went to Loma Linda University for PT I'm glad I didn't I would have been in a lot of debt. Thanks 👍
Where did you attend school?
PTA is the way! Very cheap schooling & still great pay
Omg it's in the video😂😂🔥🔥🔥🔥
📕 🤯 😂
I know this don’t relate to the video.. but your handsome.. your wife Blessed to have you !
👍