Psychology Salaries

You might be in the process of working towards a career in psychology, and want to know exactly what kind of salary you should expect to receive annually. Let’s find out.

Do Psychologists Get Paid Well?

Generally speaking, yes, psychologists get paid incredibly well. On average, they actually make more than the national average annual salary. A study by the Bureau of Labour Statistics found that psychologists make about 64% more annually than the standard household income. However, salaries for psychologists can vary massively from state to state, and depending on their level of experience.

What Is the Starting Salary for Psychologists?

As well as the state and level of experience of the psychologist, another factor that impacts their salary is the specific subfield of psychology they work in. These include clinical psychology, forensic psychology, industrial psychology, school psychology and many others. The starting salary for each of these jobs varies pretty widely, but the general median starting salary for all psychologist positions sits at around $40,000 at the most basic level and up to $100,000 at the highest level.

Here are the average psychology salaries for various positions and levels of experience.

Experience 0-1 year 1-4 years 5-9 years 10-19 years 20+ years
Clinical Psychologist $50k $54k $63k $70k $80k
Forensic Psychologist $40k $55k $60k $70k $80k
School Psychologist $38k $48k $55k $60k $70k
Industrial Psychologist $42k $60k $75k $88k $100k

What Is the Outlook for Psychologist Salaries?

Psychology as an occupation is expected to witness a growth of around 8% over the next 10 years, which is the general average for most other occupations. This means that a psychologist starting their career in the 2020s can expect to see steady growth well into the next decade, making it a very stable position in terms of outlook.

Psychologists are already in a great position to be able to steadily advance their careers and attain higher pay grades with time and effort. As mentioned earlier, the more experience a psychologist has in a certain field, the more they can likely earn from their work. The prospects for psychologists are positive and hopeful. With each year of experience gained, many can expect to see a pay rise of ~$5,000 per year.

Which State Has the Highest Salaries for Psychologists?

Psychologists across the United States have very competitive salaries that can easily accommodate a very comfortable lifestyle. However, psychologists in certain states are likely to earn more than those in other states. The five states with the highest salaries are as follows:

  • California: $108,350 per year.
  • Oregon: $103, 870 per year.
  • New Jersey: $98, 470 per year.
  • Hawaii: $94, 550 per year.
  • New York: $94, 140 per year.

Which Subfield of Psychology Makes the Most Money?

The field of psychology that tends to earn the highest income is psychiatry. Psychiatry works to apply the studies and knowledge of the wider field of psychology to everyday life, in order to help everyday people deal with their mental stresses and mental illnesses. This is likely why those in the field can earn so much. Many people depend on psychiatry and therapy every day to deal with the often chaotic world around them, and many people are more than willing to pay a premium for these services.

On average, psychiatrists can earn well over $200,000 per year. However, this can vary slightly from person to person and state to state. If a psychiatrist is highly regarded or works on behalf of a well-trusted company, then they will likely receive more pay.

See also: the highest paying jobs in psychology

Psychology Salary Guides