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What are the salary expectations of psychology students? And do these expectations clash with the real numbers? Every person is curious to know what to expect from the career path he/she has chosen. The field of psychology is broad and diverse, and it opens a lot of doors to excellent job opportunities.
However, the range of choices depends on the degree in psychology. Still, you can easily employ your knowledge in many relevant disciplines, no matter what degree you have. According to various statistical sources, such as Bureau of Labor Statistics and Salary.com, psychologists don't have any troubles finding a job. In order to present a clear picture of psychology graduate salary expectations let's consider the data based on US Bureau of Labor Statistics research. It may help you to evaluate your future salary.
National Averages
The median annual salary of psychologists on the national level is $ 84,220 as of May 2009. This means $ 40,49 per hour. In fact your salary depends on the degree in psychology you hold. The lowest salary in this field is less than $ 41,070 whereas the highest is more than $ 117,470! Great difference, really! Psychology graduate salary grows together with your degree and experience. Those with graduate degree have wider range of job choices and much higher salary rates. However, if you're on the initial stage of your career, the earnings will be below your salary expectations regardless the degree.
Experience
Well, experience matters a lot when it comes to salary. This is typical for every profession. Of course, your first job won't pay you the highest salary, but you'll gain a valuable experience. If you have high academic degree, you may start your salary from $ 25,500. And as soon as you gain Masters in psychology plus one year of relevant experience, you can earn $ 31,200. Psychology graduate salary expectations for those with Ph.D. of Psy.D. and one year of internship are $ 37,800 on average. And if you have experience in addition to high level diploma, you can start at $ 45,200. So experience matters a lot, as you can see!
Industry
According to the US Bureau of Labor Statistics, the highest psychology graduate salary was registered in physicians' offices. It is about $ 109,550! Those who work in the industry of education, namely colleges, universities etc., earn the least. Let's look into the top 5 paying industries according to US Bureau of Labor Statistics:
1.Offices of Physicians - $ 109,550
2.Educational Support Services - $ 91,980
3.Scientific Research and Development Services - $ 91,260
4.Individual and Family Services - $ 90,690
5.General Medical and Surgical Hospitals - $ 89,450
Location
Psychology graduate salary expectations vary also depending on the state of practicing. The highest psychologist salary was fixed in the state of Arizona. According to the Bureau of Labor Statistics, psychologists earn here near $ 101,100 per year. Next goes New Hampshire with the average salary of $ 97,290. California and Columbia follow in the list. Here the salary is respectively $ 96,050 and $ 96,040 on average. Check the psychology graduate salary expectations in your state at http://www.bls.gov.
Well, you can see that career in psychology offers a great variety of job choices and pays good salaries. Seriously consider the listed factors that influence psychology graduate salary expectations. Only after a thorough analysis choose the psychology field you want to pursue your career in. This will help you to make a smart decision and be satisfied with your job!
