The current psychologist salary fluctuates based on a number of factors. The US Department of Labor provides a great resource on the variety of salaries in the psychology field called the Occupational Outlook Handbook. Published in 2008, this handbook offers individuals a good estimate about the median salaries currently available.
The handbook points out that the median salary for all fields of psychology is $64,000. On the low end, the earnings were around $38,000 and on the upper end about $106,000. Like most jobs, the experience level and subfield of psychology makes all the difference.
Clinical psychologists, for example, start out around $62,000. Cognitive psychologists start out around $55,000 while forensic psychologists earn around $60,000. General health psychologists make about $40 for an entry-level position and command around $85k for people with more experience.
Human resource management, employee productivity and training are just a few of the areas that an Industrial/Organization psychologist deals with earning up to $100K+ per year. However, the starting salaries are low for an Industrial/Organizational psychologist according to the latest from the Society of Industrial and Organizational Psychology. The starting salaries are as follows: Master's degree - $39K; PhD - $55K; Median - $80K; working in the private sector - $100K.
People with a bachelor's degree usually find employment in the human resources field, even though there are opportunities in other areas. In order to increase a psychologist salary, it requires more education and the attainment of at least a master's degree. Attaining the Ph.D. level is an assurance that the person can work in almost any psychological area.
The Industrial/Organizational psychologist commands the highest level of pay, it does require a certain type of mindset. The Industrial/Organizational psychologist deals primarily with doing extensive research and number crunching. Statistics and research are what makes up this job, so if you're not this type of person it might not be for you.
Dealing with people on an one-on-one basis is what a clinical psychologist does, offering treatment options, assessments and diagnosis of mental disorders. This type of psychologist also provides preventative measures and works in a medical setting. Although In the clinical subfield of psychology, there are a number of mental health issues covered including adult, child and geriatric services, learning disabilities and substance abuse.
Clinical psychologists learn a number of techniques and approaches to work with mental health issues. They earn anywhere from $40,000 as entry level up to $50,000 or more.
In the end, no matter what the psychologist salary, you should pursue what you love. Going into a career as an Industrial and Organizational psychologist might be a mistake if you really are a people person. On the other hand, if you love statistics and research, it might be the perfect position for you to pursue.
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