How Much Are Psychologists Earning Nowadays?
A factor in deciding what career path to take is the salary of that specific profession. If you are thinking about becoming a psychologist, you should do some research on your potential earning power someday. There is a long road ahead for psychologists and you would want to assure that all your efforts will be rewarded in the future.
In every job, there are plenty of factors to consider in the calculation of salary. The educational attainment, the area of specialization, the type of job, the demand, the location and years of experience are all factors that affect the salary of a job. So, how much does a psychologist earn?
In psychology jobs, the largest employment areas are clinical, school and counseling psychology. The median salary for clinical, school and counseling psychologists is $64,140 per year. According to the U.S. Bureau of Labor and Statistics, 50% of those employed in these 3 areas were earning between $48,700 and $82,800. The highest 10% we earning more than $106,480 while the lowest 10% is earning $37,900 per year.
The salary of a psychologist will also depend on the industry he or she chooses to be a part of. For school, clinical and counseling psychologists who works in outpatient care centers, they get paid around $59,130 per year. Those who work in individual and family services earn $57,440 a year. Psychologists that work in elementary and secondary schools earn $65,710. If they work in an office of a health practitioner, salary is $68,400. If they choose to work for the state government, salary is around $63,710 per year.
How about those who are working as industrial-organizational psychologists? This is a fast growing area of specialty in psychology. This job is projected to grow 26% in employment by 2018. The annual salary for industrial-organizational psychologists is $77,010. 50% of these psychologists earn $54,100 to $115,720 a year. The highest 10% earned $149,120 while the lowest 10% is earning $38,690.
How about the other psychology jobs? How much are these psychologists earning?
- Career Counselor earns $46,000
- Cognitive psychologist earns $55,000
- Development psychologist earned $56,500
- Engineering Psychologist earns $79,818
- Experimental Psychologist earns $56,500
- Forensic Psychologist earns $59,440
- Health Psychologist earns $40,00 at entry-level and $85,000 in the advanced level
- Psychiatrist earns $144,020
- Neuropsychologist earn $79,570
- School psychologist earns $59,440
- Social worker earns $43,040
- Sports psychologist earns 54,000
- Substance abuse counselor earns $59,460
Now that you know the average salaries of all psychology jobs, you will be able to pursue what you want. With this data, you can make a great decision on the career path to pursue.