Strong outcomes — but only if you commit to the full credential stack
Rehabilitation therapies is a field where the bachelor's degree is largely a pre-professional on-ramp, not a destination. Physical therapists — the primary occupational target — require a Doctoral or professional degree (DPT), and the data reflects that reality: 85% of the 29,517 credentials awarded in 2024 were advanced-level (master's, doctoral, or professional practice). At the doctoral/professional level, year-one median earnings hit $74,951–$75,013 with a debt-to-income ratio of 0.287 — well inside the healthy threshold. Physical therapists (SOC 29-1123) are projected to grow +10.9% through 2034, nearly three times the all-occupations average of +4.0%, with a $101,020 median wage. The honest caveat: students who stop at a bachelor's face a year-one median of $34,912 and a debt-to-income ratio of 0.617, above the healthy threshold. The field rewards completion — not starting.
- ROI A−
- Employment A
- Debt burden B+
- Projected demand A
Rehabilitation therapies has a credential ladder problem that most prospective students don't fully reckon with until they're already enrolled. The question isn't whether physical therapists earn well — they do, at a $101,020 median wage — it's whether students understand that the bachelor's degree is almost never the exit point. The field produces 29,517 credentials annually, but only 3,737 of those are entry-level (bachelor's and associate's combined). The remaining 85% are master's, doctoral, or professional-practice degrees. That distribution isn't an anomaly; it's the architecture.
The headline numbers are genuinely strong for those who complete the full track. Physical therapists (SOC 29-1123) are projected to grow +10.9% through 2034 — nearly three times the all-occupations average of 4.0% — and the Census PSEO data shows 10-year median earnings of $75,907 for the field overall, with a 75th percentile at $95,095. However, one data limitation shapes everything below: federal College Scorecard data doesn't publish debt figures at the field level for this CIP code. Every debt number here uses the institution-level average across 624 rehabilitation-producing schools — $21,533 — not a credential-specific figure. That constraint matters because DPT programs often cost considerably more than what the institution-level average captures.
The rest of this page walks through what each credential tier actually earns, what it costs relative to year-one income, and which occupational destinations are worth planning around — and which aren't.
- ✓ Physical therapists (SOC 29-1123) are projected to grow +10.9% through 2034 — nearly 3x the +4.0% all-occupations average.
- ✓ Doctoral and professional-level graduates carry a 0.287 debt-to-income ratio — well inside the healthy 0.40 threshold.
- ✓ Census PSEO shows 10-year median earnings of $75,907, with the 75th percentile reaching $95,095.
- ✓ Occupational therapists (SOC 29-1122) grow +13.8% through 2034, with a $98,340 median wage and 10,200 annual openings.
- ✓ Three-year loan default rate across 624 rehabilitation-producing institutions is just 0.001% — effectively zero.
- ! Bachelor's graduates carry a 0.617 debt-to-income ratio at year one ($21,533 debt vs. $34,912 earnings) — above the 0.40 healthy threshold.
- ! Only 3,312 bachelor's completions in 2024 versus 22,857 master's and doctoral/professional completions — the bachelor's is rarely a terminal credential.
- ! Rehabilitation counselors (SOC 21-1015), an adjacent destination, grow just +1.4% through 2034 and earn a $46,110 median wage.
Where rehabilitation therapies graduates actually land
Census Post-Secondary Employment Outcomes (PSEO)
Earnings by credential level
College Scorecard field-level earnings (years 1–4 post-grad, aggregated across institutions)
What it costs, what you earn, what's left over
Field-level debt data isn't published by College Scorecard for this CIP code. Every figure here is the institution-level average across 624 schools that produce rehabilitation therapies credentials — $21,533 — not a program-specific number. The limitation is particularly meaningful in this field because DPT programs are three-year graduate programs that typically carry higher costs than an undergraduate institution's average would suggest. Treat these ratios as directional indicators, not precise breakdowns by credential.
With that caveat stated, the tier-by-tier picture is illuminating. At the doctoral and professional-practice levels, $21,533 in debt against year-one earnings of $74,951–$75,013 produces a debt-to-income ratio of 0.287 — well inside the healthy threshold of 0.40. The master's path also clears the threshold: $21,533 against $61,845 in year-one earnings yields a ratio of 0.348. The bachelor's path is the outlier: the same debt figure against $34,912 in year-one earnings produces a ratio of 0.617, meaningfully above the threshold. That's not a sign of unmanageable debt in absolute terms — $21,533 is a modest figure — but it is a sign that bachelor's-level income doesn't justify the credential gap. By year ten, Census PSEO shows the field-wide median at $75,907, which gives licensed graduates a solid runway for repayment. The three-year loan default rate across producing institutions is 0.001% — essentially zero, reflecting the financial stability of licensed clinical graduates.
The credential paths that actually produce graduates
Scorecard field-level earnings + completions_by_program (most recent year) aggregated by credential tier
Associate's
- Completions / yr 255
- Year-1 earnings $35,449
- Year-4 earnings $46,466
- Median debt $15,109
- % women 72.2%
- Schools 67
Bachelor's in Rehabilitation Therapies
A four-year undergraduate program covering anatomy, kinesiology, clinical reasoning, and therapeutic techniques. Most bachelor's graduates in this field use this credential as a prerequisite for applying to professional or graduate programs rather than entering clinical practice directly. Year-one median earnings are $34,912 per College Scorecard.
- Completions / yr 3,312
- Year-1 earnings $34,912
- Year-4 earnings $57,783
- Median debt $24,601
- % women 83.5%
- Schools 281
Best for students committed to continuing into a DPT, MOT, or other professional graduate program and who need the prerequisite coursework and clinical exposure to qualify.
Master's in Rehabilitation Therapies (MOT/MS)
A two-to-three-year graduate program primarily covering occupational therapy (MOT/OTD), orthotics and prosthetics, or exercise physiology. Leads to licensure as an occupational therapist or related clinician. Year-one median earnings reach $61,845, rising to $70,951 by year four per College Scorecard.
- Completions / yr 7,791
- Year-1 earnings $61,845
- Year-4 earnings $70,951
- Median debt $62,007
- % women 87.7%
- Schools 326
Students targeting occupational therapy (13.8% projected growth, $98,340 median wage) or orthotics and prosthetics (13.3% growth) — both strong, master's-required careers.
Doctoral / Professional Practice (DPT/OTD)
A three-year clinical doctorate required for physical therapist licensure in all U.S. states (DPT) or increasingly expected for occupational therapy (OTD). The DPT produces 15,066 completions annually — the single largest credential tier in this field. Year-one median earnings are $75,013–$74,951 with a 0.287 debt-to-income ratio.
- Completions / yr 2,278
- Year-1 earnings $75,013
- Year-4 earnings $83,421
- Median debt $96,346
- % women 75.2%
- Schools 228
The right destination for students who want to practice as licensed physical or occupational therapists and are willing to commit to a six-to-seven-year total educational investment.
Professional
- Completions / yr 15,066
- Year-1 earnings $74,951
- Year-4 earnings $82,303
- Median debt $109,591
- % women 69.1%
- Schools 286
The bachelor's is the start, not the finish — students who stop there face above-threshold debt ratios and limited clinical career options; the DPT and master's tracks are where the economics actually work.
The professional doctorate is the center of gravity in this field, and the completions data makes that clear. Doctoral and professional-practice degrees account for 15,066 completions in 2024 — more than the bachelor's (3,312), master's (7,791), and associate's (255) combined. The master's tier adds another 7,791 completions. Together, advanced credentials represent 85% of annual production. Bachelor's completions in this field are mostly students in transit to graduate programs, not workers entering the labor market.
The earnings difference across credential levels is dramatic enough to define the financial case outright. Bachelor's graduates earn $34,912 at year one and $57,783 by year four per College Scorecard. Master's graduates start at $61,845 and reach $70,951 by year four. Doctoral and professional-practice graduates enter at $75,013–$74,951 and climb to $83,421–$82,303 by year four. That's a $40,000-plus starting salary advantage for doctoral graduates over bachelor's graduates — not a rounding error. The associate's path (255 completions) and certificate paths exist but are genuinely niche, feeding primarily into exercise physiology or rehab aide roles rather than licensed clinical practice.
One demographic note worth flagging: the field skews significantly female across all tiers. Master's programs are 87.7% women; bachelor's programs 83.5%; professional-practice doctoral programs 69.1%. The rehabilitation therapies field is one of the more gender-concentrated in healthcare. This doesn't affect individual outcomes, but it's a useful framing for students weighing peer community and institutional culture when selecting programs.
Who completes these degrees
IPEDS completions_by_program, most recent year, first-major only
- 2023 29,848
- 2024 29,517
Where graduates land professionally
BLS 2024–2034 Employment Projections via CIP-to-SOC crosswalk
| SOC | Occupation | Employed '24 | Growth | Openings/yr | Median wage | Entry |
|---|---|---|---|---|---|---|
| 25-1071 | Health specialties teachers, postsecondary | 290k | +17.3% | 27k | $105,620 | Doctoral or professional degree |
| 29-1123 | Physical therapists | 267k | +10.9% | 13k | $101,020 | Doctoral or professional degree |
| 29-1122 | Occupational therapists | 160k | +13.8% | 10k | $98,340 | Master's degree |
| 17-2199 | Engineers, all other | 159k | +2.1% | 9.3k | $117,750 | Bachelor's degree |
| 21-1015 | Rehabilitation counselors | 92k | +1.4% | 10k | $46,110 | Master's degree |
| 29-1129 | Therapists, all other | 56k | +11.5% | 4.1k | $65,010 | Bachelor's degree |
| 29-1128 | Exercise physiologists | 24k | +9.5% | 1.7k | $58,160 | Bachelor's degree |
| 29-1125 | Recreational therapists | 16k | +3.3% | 1.3k | $60,280 | Bachelor's degree |
| 51-9082 | Medical appliance technicians | 12k | +3.7% | 1.5k | $47,060 | High school diploma or equivalent |
| 29-2091 | Orthotists and prosthetists | 10k | +13.3% | 0.9k | $78,310 | Master's degree |
Rehabilitation therapies graduates feed into a dispersed set of occupations, and the tiering confidence in this data is flagged as low — meaning there is no single dominant destination that represents the average graduate's baseline. The closest primary occupational anchor is physical therapists (SOC 29-1123): 267,200 employed in 2024, projected to grow +10.9% through 2034 versus the 4.0% all-occupations baseline, with a median wage of $101,020 and approximately 13,000 annual openings. Physical therapist licensure requires a DPT — so this destination is only available to graduates who complete the doctoral track.
The advanced-practice tier adds two strong occupational destinations students should plan around explicitly. Occupational therapists (SOC 29-1122) lead the tier with +13.8% growth, a $98,340 median wage, and 10,200 annual openings — accessible via master's-level MOT or OTD programs. Orthotists and prosthetists (SOC 29-2091) are a smaller but fast-growing niche: 10,100 employed, +13.3% growth, $78,310 median wage, requiring a master's degree. Both are reachable after additional graduate-level training, and both outpace the all-occupations growth rate by a wide margin.
The adjacent tier contains one bright spot and two cautionary data points. Health specialties teachers, postsecondary (SOC 25-1071) grow +17.3% with a $105,620 median wage — but this destination requires a doctoral credential and typically years of clinical practice first. Rehabilitation counselors (SOC 21-1015) tell a different story: 91,900 employed, growing just +1.4% through 2034, with a $46,110 median wage. Students who exit the pipeline before licensure often end up in counselor or aide roles at roughly half the licensed clinician wage.
Where demand is growing
State workforce agencies publish their own 10-year projections for physical therapists — growth varies sharply by state, and where you plan to live changes the calculus.
| Utah | +49.8% | 220 openings/yr |
| New Mexico | +31.3% | 110 openings/yr |
| Arizona | +31.0% | 350 openings/yr |
| Idaho | +30.2% | 130 openings/yr |
| New York | +29.4% | 560 openings/yr |
| Washington | +27.9% | 710 openings/yr |
| California | +27.2% | 1,720 openings/yr |
| Montana | +26.2% | 90 openings/yr |
| California | 1,720/yr | +27.2% growth |
| Texas | 1,100/yr | +21.9% growth |
| Florida | 1,090/yr | +25.3% growth |
| Washington | 710/yr | +27.9% growth |
| Pennsylvania | 690/yr | +15.1% growth |
Where physical therapists need a license
52 states and territories license physical therapists. The degree alone isn't the finish line — plan for the credential your state requires before you can practice.
Schools producing the most graduates
Volume, not quality — completion counts across all credentials. See our rankings pages for outcome-weighted school scores.
- 11,538University of St. Augustine for Health SciencesCA
- 432
- 394
- 286
- 253
- 6246
- 7222
- 218
- 217
- 210
Pursue rehabilitation therapies only if the commitment runs through to a licensed clinical credential — the DPT for physical therapy or a master's/OTD for occupational therapy. The earnings data is unambiguous: doctoral and professional-level graduates enter the workforce at $74,951–$75,013 with a 0.287 debt-to-income ratio, and physical therapists are projected to grow +10.9% through 2034 with 13,000 annual openings per year. Occupational therapists deliver nearly the same profile at the master's level — +13.8% growth, $98,340 median wage. These are strong outcomes by any reasonable standard. The bachelor's degree is the mandatory prerequisite for applying to these programs; treat it as such. Students who complete the bachelor's at a school with strong DPT or MOT program articulation agreements, clinical placement networks, and high graduate school acceptance rates are positioning themselves correctly.
The recommendation reverses for anyone who is uncertain about continuing to graduate school. Bachelor's-only graduates face a 0.617 debt-to-income ratio, $34,912 in year-one earnings, and a job market where the accessible roles — recreational therapist (+3.3% growth, $60,280 wage) and exercise physiologist (+9.5% growth, $58,160 wage) — are relatively small fields with limited upward mobility. Rehabilitation counselors, another frequent landing spot, grow just +1.4% through 2034 and earn $46,110. If there is a realistic chance you will not complete graduate school — whether for financial, personal, or academic reasons — this field's undergraduate economics do not reward stopping short.
Informed inquiries
Can I actually work as a physical therapist with just a bachelor's degree?
No. All 50 U.S. states require a Doctor of Physical Therapy (DPT) for licensure as a physical therapist. The bachelor's degree is a prerequisite for DPT program admission, not a clinical credential in itself. BLS data confirms the typical education for physical therapists (SOC 29-1123) is 'Doctoral or professional degree.' Students who stop at the bachelor's level and don't continue to a DPT are not eligible for the $101,020 median wage or the 13,000 annual openings that define the PT job market. The field's completions data reflects this reality: 15,066 professional-practice doctoral degrees were awarded in 2024 versus just 3,312 bachelor's degrees.
Is the debt load reasonable given how long the full education takes?
It depends entirely on which credential you exit with. The institution-level fallback debt figure is $21,533 across 624 rehabilitation-producing schools — field-level debt data is sparse in College Scorecard, so this number is not broken out by credential tier. At the doctoral and professional-practice levels, $21,533 in debt against year-one earnings of $74,951–$75,013 produces a ratio of 0.287 — well inside the healthy 0.40 threshold. At the bachelor's level, the same debt figure against $34,912 in year-one earnings produces a ratio of 0.617, above the threshold. The master's path lands at 0.348, just inside the healthy range. Two important caveats: DPT programs are graduate programs and typically cost substantially more than the institution-level fallback figure suggests; and debt accumulates across six or more years of school before the first paycheck arrives.
What if I get into a DPT program but can't finish — is the bachelor's useful on its own?
Minimally, and the earnings data shows why. Bachelor's graduates in rehabilitation therapies earn $34,912 at year one and $57,783 by year four per College Scorecard. That's modest — closer to exercise physiology ($58,160 median, and a role that typically requires only a bachelor's) or recreational therapy ($60,280 median, +3.3% growth through 2034) than anything in the $98,000–$101,000 range that defines the licensed therapist market. Exercise physiologists and recreational therapists are accessible with a bachelor's, but both are relatively small occupations (23,900 and 16,100 employed, respectively) with slower-than-average or average growth. The bachelor's gives you a floor, not a ceiling.
Is occupational therapy a smarter path than physical therapy given the different degree requirements?
The economics are comparable, and the choice should reflect clinical interest more than degree-level arbitrage. Occupational therapists (SOC 29-1122) are projected to grow +13.8% through 2034 — slightly faster than physical therapists at +10.9% — with a $98,340 median wage versus $101,020 for physical therapists. Occupational therapy programs produce 7,791 master's completions annually versus the DPT's 15,066 doctoral completions, meaning the OT path is modestly less crowded at graduation. Both paths lead to healthy debt-to-income ratios at the master's and doctoral level. If time-to-degree matters: a MOT is typically two years post-bachelor's versus three years for a DPT, though OTD programs (doctoral-level OT) are increasingly common and carry equivalent commitment.
What are graduates doing who don't become physical or occupational therapists?
The adjacent occupational destinations reveal the full spectrum of outcomes — and some are substantially less lucrative. Health specialties teachers, postsecondary (SOC 25-1071) employ 289,600 nationally and are projected to grow +17.3% with a $105,620 median wage — but this destination requires a doctoral credential and years of clinical practice first. Rehabilitation counselors (SOC 21-1015) offer a different story: 91,900 employed, growing just +1.4% through 2034, with a $46,110 median wage — well below the field's clinical-track salaries. Medical appliance technicians ($47,060, +3.7% growth) represent another modest-wage adjacent path. The pattern is clear: graduates who do not complete a licensed clinical credential typically end up in roles paying $46,000–$47,000, roughly half what licensed PTs and OTs earn.
How does the 10-year earnings trajectory compare to what you earn right out of school?
The gap is substantial and reflects the credential reality. Census PSEO tracks earnings across all graduates in this field: at year one, the median is $56,716 (P25: $46,474, P75: $67,785). By year five, the median climbs to $70,114 (P25: $55,582, P75: $85,037). At year ten, the median reaches $75,907 with a 75th percentile of $95,095. The $56,716 year-one PSEO figure is higher than the College Scorecard bachelor's-level year-one of $34,912 — this is because PSEO aggregates across all credential levels, including the large cohort of DPT and master's graduates who enter at much higher starting salaries. Students planning around the bachelor's-only track should use $34,912, not $56,716, as their year-one baseline.
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