Though the number of Industrial-organizational (I-O) psychologists in the U.S. is small (currently just over 1,000), I-O is one of the fastest growing and highest paying fields in the nation.
Annual Salaries of Industrial-Organizational Psychologists
The I-O Psyhcologist national mean salary is $104,570, which is 110% higher than the avg mean wage for All Occupations listed in the BLS and 10-33% higher than average mean wages for all other Psychology careers listed in the BLS.
According to the Bureau of Labor Statistics (2016 data), the median wage for industrial-organizational psychologists is $39.79 per hour and $82,760 per year. The lower 10th percentile median annual wage is $52,950 annually and upper 90th percentile is $184,380.
As is the case with most jobs, salary figures will vary depending on what part of the country you live in, your level of education, and years of work experience.
Highest-paying Locations
In an infographic published by the Society for Industrial and Organizational Psychology (SIOP) it showed that many of its members working in the Minneapolis/St. Paul, MN ($132K); Los Angeles/Orange Co., CA ($127K); and San Francisco/San Jose, CA ($123K) are among the top-earning industrial-organizational psychologists in the industry. This is closely followed by New York Metro ($122K), Seattle, WA ($120K), Detroit, MI Metro Area ($114.K), and Dallas, TX ($113K).
Top 5 Industries
According to this same study by SIOP, I-O psychologists working in consulting organizations ($120K) and the private sector organizations ($115K) are some of the highest paid in the country. Next come university or college professionals ($101K), government employees ($100K), and not-for-profit organization professionals ($94K).
Salaries by Popular Job Title
The following are annual median salaries for industrial-organizational psychologists by BLS job title.
| Occupation | Annual Median Wage |
|---|---|
| Research and Development in the Social Sciences and Humanities | $118,760 |
| Scientific Research and Development Services | $117,880 |
| Management of Companies and Enterprises | $111,180 |
| Architectural, Engineering, and Related Services | $102,090 |
| Professional, Scientific, and Technical Services | $94,240 |
| Cross-industry, Private Ownership Only | $87,060 |
| Cross-industry, Private, Federal, State, and Local Government | $82,760 |
| Management, Scientific, and Technical Consulting Services | $78,590 |
| Health Care and Social Assistance | $77,850 |
| Federal, State, and Local Government | $77,680 |
| State Government, including schools and hospitals | $76,460 |
| State Government, excluding schools and hospitals | $75,950 |
| Federal, State, and Local Government, including government owned schools and hospitals | $71,680 |
| Educational Services – Privately owned | $63,640 |
| Colleges, Universities, and Professional Schools | $61,920 |
| Colleges, universities, and professional schools – Privately owned | $61,640 |
| Educational Services | $60,690 |
| Elementary and Secondary Schools | $55,940 |
| Educational Services – Local government owned | $55,620 |
Salaries by Education Attainment
The SIOP report shows that starting incomes for Industrial-organizational (I-O) psychologists vary quite dramatically by education qualifications. The following are typical average mean salaries for I-O specialists based on education attainment.
- Entry-level for Master's graduate – $78,134
- Entry-level for PhD graduate – $95,658
Salary Increases by Years of Experience
Annaul salaries tend to increase with each year of added work experience – $2,900 each year for master’s degree holders and $3,000 each year for doctorate.
Salary by Gender
The salaries for industrial-organizational psychologists vary by gender in 2015 as shown below. Median income levels have increased at an average yearly rate of 2.98% for men and 3.29% for women.
- Women – $104,750
- Men – $116,779
An interesting side-note is that the ratio of female to male I-O psychologists grew between 1982 to 2015 from 81.4% to 89.7%.
Sources
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