From what i've been told by my therapist (MSW/RSW) who graduated the UofT 2 year(ironically) and said that in psychotherapy you get paid WAY less and you aren't as valued in the clinical field (pls don't take offence to this people her words not mine). I did some research bc I was trying to decide between SW and psychotherapy.. basically with psychotherapy you have to write an exam to become registered in Ontario and you have to have a whole bunch of additional supervised hours which a majority of the time placements don't cover. With an MSW you graduate your MSW and can immediately register and be on your way!
This being said, for me personally I want to go into private practice which is very clinical. I was told I wouldn't get hired at a psychologists office where therapists do private practice having a psychotherapy masters (majority of the time they hire people with masters in Psych or social work only) there is one psychotherapist that works at that clinic and she gets paid less even though she has way more experience (and is about 20 years older than my social worker). The other side with this is that a lot of insurance providers don't cover psychotherapists but they do for social workers or psychologists (my provider is like this). Not trying to scare you away just have done my research and giving you a very honest answer...
I also have seen jobs that basically require that you are registered with an appropriate college of practice (could be social work, psychotherapy etc) but the process overall to register as a psychotherapist is more complex.