What is a Psychologist Pay Rate?

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Becoming a psychologist is a profession for those who like to help others with emotional and behavioral problems while getting paid well to do it. Psychologists have to be dedicated to their craft and willing to work hard to earn advancement and a nice salary. However, for those willing to put in the time and effort it takes to become a professional psychologist, the rewards are unparalleled.

A psychologist pay rate varies greatly, depending on where in the field a psychologist chooses to work. There are several specialty areas including industrial/commercial psychology, school psychology, health psychology, and more. Before anyone considering a career as a psychologist can get an idea of their potential pay rate, they must first decide which specialty area they wish to pursue.

Salary & Growth Expectations

General psychologists can expect to earn around $69,280 according to the U.S. Bureau of Labor Statistics, which averages out to about $33.31 per hour. The field of general psychology is expected to grow at a rate of 12% through the year 2022, with over 18,700 new jobs being added.

Industrial/Commercial psychologists make a little more than a general psychologist. Anyone working in this field can expect to make around $80,330 per year according to the U.S. Bureau of Labor Statistics. Expected growth rate for industrial/commercial psychologists is around 8.3% through the next ten years.

A school psychologist pay rate averages around $67,760. This pay rate is the same for clinical and counseling psychologists as well, according to a study by the U.S. Bureau of Labor Statistics. Growth rate in these specialty areas is expected to be 1.2%, which is much slower than the previous career choices mentioned above.

By noting the differences in the pay rates listed above, it is easy to see how choosing the right specialty area can be a huge factor in a psychologist pay rate. Before committing to the extensive requirements needed to enter the field of psychology, it is important to have an idea, which specialty area is the best fit and the one that pays the best rate.

Entry Level Salary for a Psychologist

After completing all the education and licensing requirements necessary to enter the psychology field, entry-level psychologists should expect to earn less than $69,950 according to the American Psychology Association. In fact, the number can be quite less with the lower end of the median salary spectrum coming in at only $34,000 per year.

Entry-level psychologist pay rate vary greatly depending on location and work experience (internship, etc.). Most entry-level psychologists will need at least two years of on-the-job experience before being seriously considered for an unsupervised position in the field.

Another factor that greatly affects entry-level pay rates for psychologists is the physical location where they live and work. State by state, psychologist pay rates vary quite a bit. A psychologist working in New York makes a lot more than a psychologist working a similar job in Florida. It’s all about location when salary differences are considered.