Psychologist and Psychology Job Salaries
A career in psychology can provide many lifelong rewards. Most importantly you'll be making a positive impact on people's lives and on society. However, a career in psychology offers more than just intangible rewards and satisfaction. A recent report by Salary Wizard indicates that the average expected psychologist salary in the United States is $76,741 per year. More recent surveys from PayScale Inc. report that the highest paid among psychologists are industrial/organizational psychologists, possibly because most of them are employed by larger corporations.
While an advanced degree provides a great foundation for a psychology career (and is usually required), the field of psychology is all about working with people—which makes real-world, on-the-job experience invaluable. The best psychology salaries generally go to those with the most experience. According to PayScale.com, the following are the average yearly psychology salaries in for five of the most popular psychology career fields:
| Experience |
0 - 1 yr |
1 - 4 yrs |
5 - 9 yrs |
10 - 19 yrs |
20+ yrs |
| Clinical psychologist |
$50,977 |
$53,551 |
$64,599 |
$71,290 |
$75,966 |
| Counseling psychologist |
$38,710 |
$44,491 |
$55,815 |
$61,972 |
$64,964 |
| Forensic psychologist |
$53,500 |
$53,692 |
$60,286 |
$74,354 |
$79,075 |
| School psychologist |
$38,710 |
$44,491 |
$55,815 |
$61,972 |
$64,964 |
| Industrial psychologist |
$43,255 |
$57,301 |
$74,311 |
$87,018 |
$102,500 |
Factors Influence Psychologist Salaries |
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As in all career fields, your salary as a psychologist will be influenced by a variety of factors. What you earn as a professional may be higher or lower than the average based on the following factors"
- Geographic location
Where you choose to work will play a big part in determining how much you'll earn as a psychologist. For instance, in New York City, salaries for qualified psychologists are typically much higher than in rural locations, such as Lincoln, Nebraska. However, when considering location, you must also take into account the cost of living. The cost of living in New York City is much higher than it is Lincoln, Nebraska. Whether you decide to work in the big city or choose to set up shop in a rural town, your salary will will likely be similar to that of other psychologists in your area.
- Experience
All things being equal, experience is one of the largest factors influencing salaries. For recent college graduates, or those just getting started, salaries are often lower than for psychologists who've been working in the industry for several years. Experience is a great qualifier and a great teacher. With time, your skills as as a psychologist as well as your confidence will increase. Another benefit of experience is developing your professional reputation. You'll gain recognition among your peers and reputation within your community that will help to sustain and grow your business and professional worth.
- Education Level
As you attain higher levels of education your earning potential will increase, as will your your attractiveness to potential employers and partners. Psychologists with a masters or doctoral degree usually have the best job prospects. Earning an advanced degree will not only expand your job prospects, but it will enable you to negotiate a higher salary or compensation package.
- Type of Industry
The industry you choose to work in, as well as your psychology speciality, will greatly impact your near and long-term earning potential. For example, industrial and organizational psychologists working for a large corporation will likely earn more than their counterparts working in other healthcare industries. For some psychology specialties, hospitals and clinics tend to pay higher salaries than other employers and vice versa.
To learn more about salary, wage and compensation information select a psychology, therapy or counseling career listed below.
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Earnings and Salaries for Psychologists |
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While job growth is occuring in just about every field of psychology, the three largest employment areas include clinical, counseling and school psychology. As of 2010, the median salary clinical, counseling and schools psychologists was approximately $65,000.
As reported by the U.S. Bureau of Labor Statists, the middle 50 percent of psychologists working in these three areas of psychology earned between $48,000 and $83,000 a year. While the lowest 10 percent made less than $38,000, and the highest 10 made over $105,000.
Among the top earners were industrial-organizational (I-O) psychologists which is also one of the fastest growing fields in psychology. The median annual salary for I-O psychologists is just over $77,000 while the top 10 percent earned more than a $150,000.
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