What are psychologist salary expectations? This is one of the questions most frequently asked by students before entering their career path. Since the field of psychology is broad and diverse, it opens up excellent job opportunities for graduates of psychology programs. Psychology is a flexible field, so you can employ your knowledge in many relevant disciplines. According to various statistical sources, psychologists don’t have any troubles finding a job. In order to have a clear picture of psychologist salary rates, here is a quick research based on the data taken from the U.S. Bureau of Labor Statistics. It may come in handy if you want to figure out the amount of salary you can expect to get.
National Averages
All the numbers provided here reflect salary rates of all psychologists except for industrial-organizational psychologists, clinical, counseling and school psychologists. Salary rates in these subfields are shown in the charts below.
Salary overview on the national level shows that annual psychologist salary is $86.520, as of May 2010. The mean hourly rate is $41.59 accordingly. In fact, the more advanced degree you hold, the higher salary you may expect. The lowest 10% earn less than $41,200, whereas the highest 10% make more than $119,940 a year. As it was previously mentioned, psychologist salary greatly depends on the education level and experience. Graduate degree holders have a wider spectrum of job opportunities and their pay is way higher as opposed to those with the undergraduate degrees. However, if you’re just starting out, your earnings will be below your salary expectations regardless of the degree you hold.
Experience
As you know, experience matters a lot when it comes to psychologist salary. Your first job may not pay the highest salary but it will give you valuable experience. Entry-level jobs are multiple. Students with high academic degrees could start at $25,500. Master’s Degree holders with 1 year of experience in a relevant field can anticipate $31,200 a year. Psychologist salary for those with Ph.D. or Psy.D. and 1 year of internship is $37,800 on average. And psychology graduates with the same qualification and some experience could start at $45,200.
Industry
The U.S. Bureau of Labor Statistics lists the industries that pay the highest psychologist salary. With the reference to this source the highest psychologist salary was registered in the offices of physicians in the amount of $109,600. The last place on the Top 5 Scale occupies the industry of education, namely elementary and secondary schools. Here is the list of top 5 best paying industries in psychology according to the U.S. Bureau of Labor Statistics:
1.Offices of Physicians $109,600
2.Scientific Research and Development Services $100,790
3.General Medical and Surgical Hospitals $91,810
4.Individual and Family Services $90,220
5.Elementary and Secondary Schools $89,570
TOP PAYING INDUSTRIES
Location
Psychologist salary may also vary according to the State you’re planning to practice in. The U.S. Bureau of Labor Statistics indicates the highest salary figure of $102,310 in the state of Arizona. Next goes New Hampshire with an average salary of $97,710. Maryland ($97,560) and Florida ($96,380) follow in the list. If you want to find out psychologist salary in your State, visit bls.gov.
The field of psychology offers many benefits and pays good salaries. Psychologist salary may vary a lot depending on the various criteria listed above. Seriously consider these factors when choosing the field you want to pursue your career in.
TOP PAYING STATES
