There is a variety of careers in psychology, and salaries and yearly earnings are also variant. In a struggling economy, many students have become interested in some of the highest paying careers in psychology. The highest paying annual salaries start from around $55,000 to $167,000, with psychiatry being one of the higher paying ones and sports psychology at the lower end.
While there are a number of careers that have a higher than average annual salary, it is imperative to recall that actual wage depends upon many factors including geographic area, area of business, educational background, and years of experience.
Below you will find more information about some of the highest paying psychology careers, the average salaries for such professions, and the educational requirements for entering these fields.
Average Salary: $167,610 every year
Educational Requirements: Approximately eight years of post-undergraduate study. In the wake of acquiring a four-year college education, aspiring psychiatrists must graduate from medicinal school and afterward do a four-year residency.
Psychiatry is one of the highest paying careers linked to psychology. Be that as it may, salaries can fluctuate considerably inside this field depending on your specialty zone, where you are utilized, and the sort of work you do. For instance, the Occupational Outlook Handbook notes that in 2009, psychiatrists used in the offices of physicians made an average of $159,300 while those who worked in outpatient mind centers made an average of $188,210 every year.
2- Industrial-Organizational Psychologist
Average Salary: $97,820
Educational Requirements: In most cases, a master’s degree in psychology is the minimum education required, although having a doctorate degree might be further bolstering your good fortune. While there are opportunities accessible at the master’s degree level, procuring a doctorate degree in industrial-organizational psychology offers more prominent opportunities and higher salaries.
Industrial-organizational psychologists use their insight in psychology to handle working environment issues. Selecting the best employees for particular jobs, and creating statistical surveying surveys are just a couple of the things that an industrial-organizational psychologist may do.
As per the Society for Industrial and Organizational Psychology, the top five percent of their members win in excess of $250,000 a year. The average starting salary for a master’s degree graduate is around $40,000, while the starting salary for a doctoral graduate is roughly $55,000.
Average Salary: $90,460 every year
Educational Requirements: A doctorate degree in neuropsychology or clinical neuropsychology is expected in this field.
Neuropsychologists specialize in the study of the mind and intellectual science. Individuals who work in this field regularly perform psychological tests, run cerebrum scans, assess people suffering from a head injury, and study how drugs affect the nervous system. They may work at colleges and universities, hospitals, research centers, emotional wellness clinics, and pharmaceutical labs.
4- Engineering Psychologist
Average Salary: $79,818 every year
Educational Requirements: Entry-level positions require a master’s degree, but those with a doctorate will discover more prominent business opportunities and better salaries.
Engineering psychologists work to enhance the design of systems, operations, and equipment with a specific end goal to increase effectiveness, enhance productivity, and limit injury. As with other specialty areas of psychology, the area of work plays a noteworthy part in determining salary. Engineering psychologists who work in the private sector make considerably more than those working in university settings.
5- Clinical Psychologist
Average Salary: $72,540 every year
Educational Requirements: In most states, clinical psychologists must have a doctorate degree in psychology. They must also have a total of one to two-year supervised residency and pass state licensing exams.
Clinical psychologists are prepared in assessing, diagnosing, and treating psychological instability. This is also the largest area of work inside psychology. Clinical psychologists work in an assortment of settings including hospitals, emotional well-being clinics, and private practice. Experience has a noteworthy effect on salaries. For instance, in 2009 clinical phycologists with five years of experience earned an average of $54,000 while those with 10 to 14 years of experience made almost $100,000 a year.
6- Counseling Psychologist
Average Salary: $72,540 every year
Educational Requirements: A PhD, PsyD, or Ed.D. degree is required to end up a counseling psychologist.
Counseling psychologists perform many of the same tasks as clinical psychologists such as offering psychotherapy and psychological well-being treatment, but they commonly work with clients suffering from less severe forms of dysfunctional behavior. While psychological well-being is one of the largest areas of counseling psychology, some people in this field choose to conduct research, teach university courses, or give professional counseling.
7- Forensic Psychologist
Normal Salary: $59,440
Educational Requirements: While there are some jobs accessible with a master’s degree, you will normally require a doctorate degree in clinical, counseling, or forensic psychology.
Forensic psychologists manage psychological issues regarding the law. Some of the duties that a professional in this field may perform include creating psychological profiles of criminals, managing child custody issues, investigating child abuse, giving master testimony, and getting witnesses ready to testify in court.
8- School Psychologist
Normal Salary: $58,360
Educational Requirements: Most states require the culmination of a 60-credit school psychology specialist program, which leads to a master’s or EdS degree. Around 32 percent of school psychologists hold a Ph.D, PsyD, or EdD degree.
School psychologists work inside the educational system to diagnose and treat learning problems in kids. They regularly work with different professionals, including teachers and doctors as well as parents to enable kids to beat social, passionate, behavioral, and scholarly problems.
As per the Occupational Outlook Handbook published by the U.S. Department of Labor, jobs in this field are projected to increase by roughly 11 percent throughout the following decade.
9- Sports Psychologist
Average Salary: $55,000 every year
Educational Requirements: Most jobs require a master’s or doctorate degree in sports psychology or in related areas such as clinical or counseling psychology.
Sports psychologists are interested in the psychological components of sports and athletics. Professionals in this field regularly focus on topics such as inspiration and athletic execution, utilizing their insight in psychology to enable athletes to perform better or to enable people to recuperate from sports injuries. While salaries ordinarily are around $45,000 to $80,000, those working with professional athletes often make more than six figures.
Choosing a career is an important decision and salary is just one of many factors that you have to consider. Money is obviously a critical part, but factors such as employment outlook and quality of life are also essential. Consider how a particular profession may suit your personality and goals in life before committing. At last, the best occupation for you is the one that you will appreciate the most and that fulfills your personal goals.