As a Physical Therapist, you may have considered pursuing a PT residency but decided against it due to concerns about the cost and whether the benefits justify the investment. One of the most common reasons PTs choose not to pursue residency is the perceived pay cut and the question of whether the skills and knowledge gained are worth it. So, how much does residency REALLY cost, and what do you get out of it?
The GREAT NEWS: Not All PT Residencies Are Alike!
It’s true that some residencies require a reduced salary during the residency year. Others may have conditions such as staying with the sponsoring organization for a certain period post-graduation or charging tuition fees. However, not all residencies come with these financial drawbacks. Some programs offer no pay cut, no tuition fees, and no mandatory retention periods.
You can find more information on residency programs on the ABPTRFE website.
Finding the Right Fit
With the wide range of costs associated with residencies, it’s essential to do your homework. Look for residency programs that align with your financial constraints. Once you’ve addressed the cost, you can then evaluate whether the benefits make the effort worthwhile.
Accelerated Learning and Career Advancement
Research indicates that clinical knowledge and skills acquired during residency can be accelerated by 3-5 years compared to non-residency paths. This fast-tracks your career advancement, opening doors to post-residency opportunities such as:
- Specializing further through fellowship programs.
- Teaching or mentoring within your residency program or the broader PT community.
- Developing programs in areas you’re passionate about.
- Launching side hustles or entrepreneurial ventures.
Opportunities Post PT Residency
In our organization, all of the opportunities listed above are available to our residency graduates. While opportunities may vary between each company, the benefits of completing a residency far outweigh the costs. Our graduates gain control over their schedules, earning potential, and career paths.
In short, residency has the potential to transform your career trajectory.
Is PT Residency Worth It?
Ultimately, the cost and value of a residency depend on where you go and what you do after. But in the right organization, the sky’s the limit!
By carefully selecting a residency program that fits your financial and career goals, you can reap substantial benefits that can propel your career to new heights. So, take the time to explore your options and make an informed decision that aligns with your professional aspirations
Did you find these tips helpful? Let us know! Contact our PT Success Team at ptlighthouse@thejacksonclinics.com
To learn more about The Jackson Clinics and to explore a career with us, please visit thejacksonclinics.com/careers
