Reframing Financial Wellness and Career Sustainability for Counselors

By Habibatu Badmus, LPC 

A while ago, I found myself thinking about changing jobs, not because I’ve lost passion for counseling, but because passion alone doesn’t pay the bills. During an informal conversation with a former colleague who manages a behavioral-health program, I mentioned I was exploring new opportunities because of low pay. 

The response came quickly: “So, it’s about the money now?”

For a moment, I felt the quiet sting of guilt, as though valuing financial stability somehow conflicted with caring for others. That comment stayed with me. It made me wonder how many counselors have felt ashamed for expecting that their profession, one built on empathy and healing, should also offer financial security and sustainability.

Ultimately, I wanted to find a smarter way to honor my professional calling without burning out in the process. 

The Financial Reality of the Counseling Profession

According to the U.S. Bureau of Labor Statistics, in 2024 the median annual pay for substance abuse, behavioral disorder and mental health counselors was $59,190. In comparison, healthcare social workers earned $61,330, with hospital-based roles paying above the national median. In addition, the median salary for clinical and counseling psychologists was $95,830. 

Even after licensure, reimbursement rates from Medicaid and private insurance often undervalue the work of counselors. A 2024 national analysis of psychotherapy claims found Medicaid session rates averaged nearly 40% lower than cash-pay rates, while private-plan reimbursement varied widely by state and contract. The disparity is not just financial; it communicates a subtle but damaging message that the expertise and emotional labor of counselors are worth less, even when the service delivered is similar.

In addition, many counselors carry substantial student loan debt. The American Counseling Association’s 2024 Counseling Workforce Survey reported that the average student loan debt among counselors is approximately $79,000, 113% higher than the national average. The survey also reported that 65% of counselors identified student loan debt as a barrier to saving or planning for retirement, and 29% reported working a second job to earn additional pay. These conditions can contribute to burnout and turnover within the profession.

Reassessing Success to Achieve Career Sustainability 

Seasoned counselors are also concerned about never being able to retire. Despite decades of service, they cannot afford to stop working. They’re searching for passive income opportunities that don’t require sitting behind a computer for 40 hours a week while talking to clients. The painful irony is those who’ve spent a lifetime helping others achieve stability are now seeking it themselves.

As such, many counselors are reassessing what career sustainability means to them. These three goal-setting prompts can help with your personal reassessment:  

• Efficiency Goal: Develop one profitable income stream without adding weekly client hours. 
• Boundary Goal: Cap direct-care hours at a sustainable number and dedicate protected time to higher-value projects.
• Growth Goal: Launch a professional side venture that multiplies income per hour such as consulting, coaching or specialized evaluations.

By focusing on value per hour rather than hours worked, counselors can preserve energy, prevent burnout and build financial security.

Practical Paths to Financial Sustainability and Wellness

Counselors have transferable skills such as assessment, facilitation, mediation and behavioral training that can translate into meaningful income streams without compromising ethics. Here are fifteen potential entrepreneurial ideas to consider: 

1. Specialized Clinical Assessments: Offer targeted evaluations such as substance use, anger management or intimate partner violence assessments. These can be contracted directly by courts or probation programs.
2.  Immigration or Hardship Psychological Evaluations: Provide psychological reports for legal cases involving hardship or asylum.
3. Career and Aptitude Testing: Conduct personality or skills assessments for students and professionals seeking direction. Results can guide transitions and job readiness.
4. Parenting and Co-Parenting Classes: Facilitate evidence-based courses for parents referred by family courts or child services. Group formats improve time efficiency.
5. Mediation and Conflict Resolution: Complete a 40-hour certification to mediate disputes in families, schools or workplaces. Mediators typically set their own hourly rates. 
6. Life, Executive or Wellness Coaching: Help people meet performance, relationship or health goals. Coaching expands flexibility and autonomy.
7. Organizational Consulting: Guide nonprofits, schools or corporations through team building, communication and burnout-prevention initiatives.
8. Continuing Education Course Development: Design continuing education or workshops for other mental-health professionals.
9. Training Material and Curriculum Design: Create structured content for agencies, correctional programs or youth services, that can be licensed and repurposed.
10. Speaking Engagements: Present at community events, conferences or schools to enhance professional visibility.
11. Grant Writing: Collaborate with nonprofits on funding proposals, providing clinical insight that can improve proposal quality and outcome evaluation. 
12. Expert Witness or Forensic Consultation: Provide court-ordered evaluations or testimony as a subject-matter expert. 
13. Clinical Supervision: Supervise pre-licensed, credentialed counselors.
14. Retreats and Seminars: Host small group retreats focusing on mindfulness, boundary setting or self-care. 
15. Crisis Training and Preparedness Workshops: Advise schools, hospitals or community responders with trauma-informed crisis management skills. 

Financial sustainability isn’t greed but a form of professional self-care. The ACA Code of Ethics affirms that maintaining wellness is essential for competence, and financial health can be a part of that equation.

Note: Opinions expressed and statements made in this blog do not necessarily represent the policies or opinions of ACA and its editors.