Almost every time I share that I charge $350 per session, I get asked: "How do you justify your fee?" Yes, it’s a high premium fee that often sparks genuine interest and curiosity from others. People want to understand how I got comfortable with this number, and how I “justify” it. But the truth is, I don’t.

I don't believe in having to justify my fee. I did the math on what I needed to earn while raising a family and growing a second business. Plus, my clinical capacity was consistently over-full. So, I took a risk and set a high fee. And guess what? It worked. Over the past 10+ years, I've invested a lot in my marketing and business development, and it has paid off.

I'm Confident in My Work and the Outcomes My Clients Have.

I'm not saying I'm "worth" anymore or less than anyone else. I simply decided what I needed and asked for it. And, of course, I did the necessary marketing work to support it. You do not have to justify your fee structure, whether it's high or low, sliding scale or not, insurance or private pay. Your fee structure is entirely up to you. What matters most is that your fee structure is working for you.

Setting Fees Based on Your Financial Needs, Wants, and Goals

There are many ways to set your fees as a therapist. Some might say you should charge what you're worth or what the market will bear. However these concepts can feel abstract and difficult to quantify. How do we measure our "worth" when each of us brings unique skills, experiences, and expertise to the table? And how do we determine what the market will bear when there is no one-size-fits-all approach to therapy?

I was having a conversation with one of my clients recently about the idea of worth. It came up in the context of our annual fee increase discussion. For those who may not know, I assess for a fee increase on my clients' year anniversary each year. This client commented that there is no way to adequately quantify my value to them and their life, and our work together is worth far more than any dollar amount. And they're right. We are all worth far more than any dollar amount.

What Does "Charge Your Worth" Really Mean?

The phrase "charge your worth" is often thrown around in the therapy world, but what does it really mean? While I understand the intention behind it, I believe it misses something important. The reality is that there is no way to adequately compensate us for our worth. We are all valuable, unique individuals with unique skills and experiences that cannot be quantified.

So, instead of thinking about charging what we're worth, maybe we need to start thinking about setting our fees based on our own financial needs. But also our wants, and goals. Of course, this will look different for each therapist. Some may have higher financial responsibilities, such as student loans or mortgages. Others may prioritize saving for retirement or having a comfortable living.

How Do We Reconcile Different Fees Among Therapists?

You may be wondering, how do we then reconcile different fees among therapists? If one person is charging $150 while another is charging $350, are they not worth the same amount? The truth is, our worth cannot be measured by the number on our fee sheet. Instead of comparing ourselves to others and trying to justify our fees, let's focus on determining what we need to live comfortably and sustainably as therapists.

Quantifying the Tangible Aspects of Our Work

While we may not be able to put a price on our worth as therapists, there are tangible aspects of our work that can help us determine our fees. These include:

• Your student loan payment

• Your mortgage

• Your bills

• Having sufficient funds to engage in regular self-care

• Saving for retirement

• Taking time off, both for sick leave and vacation

• Continuing education costs

• Business overhead expenses

And so much more. These factors will vary from therapist to therapist, but they can provide a starting point for setting your fees.

It's Not Just About Getting By, It's About Thriving

When it comes down to it, your fee should not just barely cover your expenses. It should allow you to thrive and live comfortably. After all, we work hard as therapists and deserve to be compensated for our valuable work. So, instead of worrying about justifying your fee or comparing yourself to others, focus on setting a fee that works for you and your needs. Consider getting support from a business coach for therapists in Sacramento, CA or investing in one-on-one business coaching to help you determine your ideal fee structure.

We Didn't Decide to Be Therapists Just for the Money

When you decided to become a therapist, did you do it for the money? Probably not. Most of us enter this field because we want to help people and make a positive impact in their lives. Then somewhere along the way, we also realize that this is a business and we need to make money to support ourselves. But that doesn't mean we're "only in it for the money."

As therapists, we can be passionate about helping others while also caring about our financial needs. It's not an either/or situation - as therapists, we are capable of balancing both. Because if you run your business strictly from a place of emotion, there's a higher chance that you will find yourself stretched thin, overwhelmed, and burnt out. It's important to make decisions about your business from a business owner's standpoint, while still prioritizing the care and support we provide to our clients.

At Some Point, We All Face the Reality of Financial Responsibilities

We all have financial responsibilities - bills to pay, retirement to save for, and so much more. And we only have so many hours in a day and so much energy. Making business-based decisions does not mean we don't care about our clients and serving those in need. And caring about our clients doesn't mean we don't care about money. Plus, it's OKAY to care about money! The pursuit of both is not incompatible. So, tell me, how can it be both? How can we find a balance between serving our clients and taking care of ourselves financially?

You Take A Risk When You Set Your Fees

Taking risks in your business is always scary. A little over a year ago, I took a HUGE risk based on a dream and set my fee for new clients at $350… It was TERRIFYING! It was three long and nerve-wracking weeks of waiting, wondering, and a few consultations that said no, but I finally got my first full-fee client. But you know what? It paid off.

Today almost half of my clients pay that rate, and I have been able to reduce my caseload, maintain my earnings, and create space to start my coaching practice. It hasn't been without moments of doubt and fear. But in reality, I have always filled the spot when I needed to. And if necessary, I am confident that I can pivot and adjust my pricing structure.

There Have Been Many Moments Where I Questioned If I Did The Right Thing

Sitting and waiting for a new client to say yes can be nerve-wracking. And if I'm being honest, there have been many moments where I have questioned if setting my fee at $350 was the right decision. Will it all fall apart? Will everything explode and leave me as a failure? These are some of the thoughts that would spiral through my mind. But then I remind myself of the reality checks - I have always filled the spot, and I am still earning enough to be comfortable. And most importantly, I am able to pivot and adapt my pricing structure if needed.

In Reality, I Won't Fail, I Can Adjust and Adapt

Taking risks can be scary, but they also bring growth and opportunities. As therapists, we are used to helping our clients navigate through change and uncertainty. So, what have I learned in the past year charging $350 a session? I have learned that taking risks is fucking scary! But if we don't ask, the answer will always be no.

The clients who can and will pay $350 are probably different than who we think they are - and that's okay. Having a clear and specialized niche can help attract the right clients who see the value in your services. Investing in the right marketing support can pay off immensely. But the most important lesson for me has been the power of confidence - in myself and my decisions. It makes a HUGE difference in how I approach my business and how others perceive it.

Invest in Yourself and Your Business With a Business Coach for Therapists in Sacramento, CA, and Nationwide!

The journey of entrepreneurship can be scary, especially for therapists who are used to a more traditional career path. But taking the leap and investing in yourself and your business can lead to incredible growth and success. Consider seeking support from a business coach for therapists in Sacramento, CA, or one-on-one business coaching in Sacramento, CA and nationwide to help you navigate through the challenges of setting your fees and building a thriving therapy practice. At Balanced Private Practice, I specialize in helping therapists find balance and fight burnout, while also achieving financial success. Your business and your well-being are worth the investment. Take that first step and see how far it can take you! So, if you're interested, reach out to me today, and let's work together to create a thriving, sustainable practice. Remember - we didn't decide to be therapists just for the money, but it doesn't mean we can't have both. Are you ready?

• Apply to Work with Me

• Learn More About Me and My Programs

• Focus on setting a fee that works for you and your needs!

Other Business Programs Offered at Balanced Private Practice

Don't miss out on exploring the other incredible business programs available at Balanced Private Practice. Discover a diverse range of programs that will help you create the business and life you've always dreamed of. I offer tailored programs specifically designed for therapists, including marketing coaching, business planning, and consulting. Whether you're starting your private practice from scratch or looking to make it more aligned with your unique reality, I've got you covered. Choose from a variety of programs such as One on One Business Coaching, Private Practice Mentorship, Private Practice Quick Start, and Fee Setting Success. If you're ready to gain clarity and direction in building a thriving private practice, I'm here to support you every step of the way. Let's make it happen!

About the Author

Introducing Audrey Schoen, LMFT! As a compassionate business consultant and expert in setting financial boundaries, Audrey is here to support therapists who are feeling scared about setting their fees. With her extensive experience as a successful practice owner and a parent of twins, Audrey understands the delicate balance between financial sustainability, client care, and self-care. She specializes in helping therapists establish healthy financial boundaries and navigate client relationships with confidence. Audrey provides actionable steps and empowering insights to help you make informed decisions, guiding you towards building a thriving and fulfilling practice that prioritizes both financial success and client well-being. Take the leap towards setting your fees with Audrey by your side, and embark on an exciting journey in private practice!