How Much Do Psychologists Earn?

Psychologists gather data that help them to comprehend, explain and predict human behavior. To do so, they examine the effects of attitudes, feelings and emotions on individuals’ actions to better understand them and their relationships with others. These professionals aim to improve the health of diverse populations in careers as counselors, therapists, researchers and academics that offer well-paying psychology salaries. Through their efforts, psychologists diagnose and treat substance abuse, help individuals modify detrimental behaviors, provide appropriate counsel to couples and to families, and improve students’ learning capabilities. They also enhance workplace efficiency and productivity by assessing policies and procedures within organizations and providing the training necessary for personnel to implement best practices.

Psychology salaries vary in accordance with the types of occupations professionals enter. Their career choices are contingent on their particular interests and expertise. For example, some may specialize in specific areas within the field such as:

  • Counseling Psychology, which helps people to better manage their everyday lives through one-on-one and group therapy
  • Educational Psychology, which explores educational development and entails collaboration with teachers, parents and students to create positive schooling environments for students
  • Industrial-Organizational Psychology, which examines workplace and organizational behaviors to develop efficient and productive operations
  • Clinical Psychology, which treats and helps to prevent mental disorders through patient counseling that addresses specific mental illnesses and personal issues

The work of many psychologists may actually involve them in different aspects of various careers within the field. For example, some may engage in a combination of counseling, teaching and research.

After completing their studies and meeting any required licensing requirements necessary to offer patient care, individuals may pursue psychology jobs in settings such as hospitals, schools, nonprofit organizations, businesses and universities. Psychology graduates can transition into occupations such as:

  • Clinical, Counseling and School Psychologist
    These professionals diagnose and treat mental disorders, learning disabilities and cognitive, behavioral and emotional problems. They utilize individual, child, family and group therapies to deliver care. Therapy sessions provide opportunities for patients to discuss their concerns with which these professionals help them cope. According to the U.S. Bureau of Labor Statistics, the average psychology salary for clinical, counseling and school psychologists is $72,310, with the three-highest paying industries for this occupation being management, scientific and technical consulting services.
  • Industrial-Organizational Psychologist
    Individuals can practically apply their knowledge as professionals in the field to address personnel, administration, management and marketing challenges. They work within businesses as well as nonprofit and government agencies to train and counsel staff, develop policies and analyze operations with the goal of enhanced productivity. According to the Bureau of Labor Statistics, the median annual salary for industrial-organizational psychologists is $102,570 and the number of professionals in this career is expected to increase by 26% by 2018.
  • College/University Professor
    Psychologists may opt to pursue a career in the academy in a role that includes both course instruction and research. The average psychology salary for professors is $72,140 annually.