phd in psychology pay

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Psychologist Salary Info: The 9 Highest Paying Careers

Which psychology jobs pay the best salary?

Kendra Cherry, MS, is a psychosocial rehabilitation specialist, psychology educator, and author of the "Everything Psychology Book."

Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital.

Psychology can be a high-paying job, but it is important to recognize that there is tremendous diversity among psychology professions, and  salaries and yearly earnings are just as varied. In a struggling economy, many students have turned their interest toward some of the highest-paying careers in psychology. The highest-paying psychologist career salaries average around $167,000.

While many psychology careers have a higher-than-average yearly salary, it is important to remember that actual income depends upon various factors, including geographic location, employment sector, educational background, and years of experience.

Learn more about some of the highest-paying psychology careers, the typical salaries for such professions, and the educational requirements for entering these fields.

Psychiatrist

Average Salary:  $216,090 per year

Educational Requirements:  Considered a medical career, psychiatry is significantly tied to the study and application of psychology. Approximately eight years of post-undergraduate study. After earning a bachelor's degree, aspiring psychiatrists must graduate from medical school and then complete a four-year residency.

Psychiatry is one of the highest-paying fields tied to psychology. However, salaries can vary considerably within this field depending upon your specialty area , where you are employed, and the type of work you perform.

Industrial-Organizational Psychologist

Average Salary: $105,310

Educational Requirements: In most cases, a master's degree in psychology is the minimum training required, although having a doctorate degree may be to your advantage. While there are opportunities available at the master's degree level, earning a doctorate degree in industrial-organizational psychology offers greater opportunities and higher salaries.

Industrial-organizational psychologists use their knowledge of psychology to tackle workplace issues. Increasing worker productivity, selecting the best employees for particular jobs, and developing market research surveys are just a few things that an industrial-organizational psychologist might do.

The Bureau of Labor Statistics reports that I/O psychologists in the scientific research and development industry earned an average annual wage of $122,660. Those employed at colleges, universities, and professional schools earned an average of $110,070.

According to the Society for Industrial and Organizational Psychology , the average salary for a doctorate-level consultant was $167,000.

Neuropsychologist

Average Salary: $90,460 per year

Educational Requirements: A doctorate degree in neuropsychology or clinical neuropsychology is needed to work in this field.

Neuropsychologists specialize in the study of the brain and cognitive science.   People who work in this field often perform cognitive tests, run brain scans, assess people suffering from brain injury, and study how drugs impact the nervous system. They may work at colleges and universities, hospitals, research centers, mental health clinics, and pharmaceutical labs.

Clinical Psychologist

Average Salary: $81,330 per year

Educational Requirements: In most states, clinical psychologists must have a doctorate degree in psychology. In addition to this education, they must also complete one to two years of supervised residency and pass state licensing exams in order to practice as a licensed clinical psychologist.

Clinical psychologists are trained in assessing, diagnosing, treating, and preventing mental illness. This is also the largest area of employment within psychology. Clinical psychologists work in various settings, including hospitals, mental health clinics, and private practice.

The Occupational Outlook Handbook reports that in May 2019, those employed in individual and family services earned an average of $85,140. Those employed in the offices of other health practitioners earned an average of $100,300 per year.

Engineering Psychologist

Average Salary: $79,818 per year

Educational Requirements: Entry-level positions require a master's degree, but those with a doctorate will find greater employment opportunities and better salaries.

Engineering psychologists work to improve the design of systems, operations, and equipment in order to increase efficiency, improve productivity, and minimize injury. As with other specialty areas of psychology, the area of employment plays a major role in determining salary. Engineering psychologists who work in the private sector earn considerably more than those employed in university settings.

Counseling Psychologist

Average Salary: $72,540 per year

Educational Requirements: A PhD, PsyD , or EdD degree is required to become a counseling psychologist.

Counseling psychologists perform many of the same tasks as clinical psychologists such as offering psychotherapy and mental health treatment, but they typically work with clients suffering from less severe forms of mental illness.

While mental health is one of the largest areas within counseling psychology, some people in this field opt to conduct research. They also teach university courses or provide vocational counseling.

Forensic Psychologist

Average Salary: $59,440

Educational Requirements: While there are some jobs available with a master's degree, you will typically need a doctorate degree in clinical, counseling, or forensic psychology.

Forensic psychologists deal with psychological issues related to the law. Some of the duties that a professional in this field might perform include developing psychological profiles of criminals, dealing with child custody issues, investigating child abuse, providing expert testimony, preparing witnesses to testify in court, and offering training to law enforcement.

School Psychologist

Average Salary: $58,360

Educational Requirements: Most states require completing a 60-credit school psychology specialist program, which leads to a master's or EdS degree. Approximately 32% of school psychologists hold a PhD , PsyD, or EdD degree.

School psychologists work within the educational system to diagnose and treat behavior and learning problems in children. They often collaborate with other professionals, including teachers and doctors as well as parents, to help kids overcome social, emotional, behavioral, and academic problems.

According to the Occupational Outlook Handbook published by the U.S. Department of Labor, jobs in this field are expected to grow by approximately 10% over the next decade.

Sports Psychologist

Average Salary:  $55,000 per 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 often focus on topics such as  motivation  and athletic performance. They utlizie their knowledge of psychology to help athletes perform better or to help people recover from sports injuries.

While salaries for sports psychologists typically range between $60,000 and $80,000, those working with professional athletes often earn over six figures.

Frequently Asked Questions

While specific salaries vary depending on factors including experience and location, psychiatry tends to be the highest-paying psychology-related career.

They can! However, it is important to recognize that individual salaries vary a great deal. According to the U.S. Bureau of Labor Statistics, the median salary for psychologists is $81,040. However, the lowest paid 10% made less than $47,850 per year. Your own salary may depend on factors such as your specialty, training, experience, area of employment, and geographic location.

Psychology can be a good career if it is suited to your interests and goals. The field is expected to experience modest growth in the coming year, and there are always opportunities for growth depending on where your interests lie. The growing need for mental health services and an aging population means that there will be a need for trained psychologists.

A Word From Verywell

Choosing a career is a big decision, and the salary is just one of many factors you need to consider. Money is an important component, but factors such as job outlook and quality of life are also essential.

So is becoming a psychologist worth it? Only you can decide. Think about how a particular career may suit your personality and goals in life before committing. In the end, the best job for you is the one you will enjoy the most and fulfills your personal and professional needs.

Zavlin D, Jubbal KT, Noé JG, Gansbacher B. A comparison of medical education in Germany and the United States: from applying to medical school to the beginnings of residency. Ger Med Sci. 2017;15:Doc15. doi:10.3205/000256

Torpey E. Business careers with high pay.  Career Outlook,  U.S. Bureau of Labor Statistics, 2016.

Kossek EE, Baltes BB, Matthews RA. How Work-Family Research Can Finally Have an Impact in Organizations. Ind Organ Psychol . 2011;4(3):352-369. doi:10.1111/j.1754-9434.2011.01353.x

U.S. Bureau of Labor Statistics. Occupational employment and wages, May 2021: 19-3032 industrial-organizational psychologists .

Society for Industrial and Organizational Psychology. The SIOP income and employment report is here !

Harvey PD. Clinical applications of neuropsychological assessment. Dialogues Clin Neurosci. 2012;14(1):91-9.

Wahass SH. The role of psychologists in health care delivery. J Family Community Med. 2005;12(2):63-70.

U.S. Bureau of Labor Statistics. Occupational employment and wages, May 2019: 19-3031 clinical, counseling, and school psychologists .

Iudici A, Salvini A, Faccio E, Castelnuovo G. The clinical assessment in the legal field: An empirical study of bias and limitations in forensic expertise. Front Psychol. 2015;6:1831. doi:10.3389/fpsyg.2015.01831

Burrow-sanchez J, Call ME, Adolphson SL, Hawken LS. School psychologists' perceived competence and training needs for student substance abuse*. J Sch Health. 2009;79(6):269-76. doi:10.1111/j.1746-1561.2009.00409.x

U.S. Bureau of Labor Statistics. Psychologists: Job outlook . Occupational Outlook Handbook .

Röthlin P, Birrer D, Horvath S, Grosse holtforth M. Psychological skills training and a mindfulness-based intervention to enhance functional athletic performance: design of a randomized controlled trial using ambulatory assessment. BMC Psychol. 2016;4(1):39. doi:10.1186/s40359-016-0147-y

American Psychological Association. Hot careers: Sports psychology .

• U.S. Bureau of Labor Statistics. Occupational Outlook Handbook. 

By Kendra Cherry, MSEd Kendra Cherry, MS, is a psychosocial rehabilitation specialist, psychology educator, and author of the "Everything Psychology Book."

Clinical Licensed Psychologist Ph.D. Salary in the United States

Clinical licensed psychologist ph.d. salary.

How much does a Clinical Licensed Psychologist Ph.D. make in the United States? The average Clinical Licensed Psychologist Ph.D. salary in the United States is $115,200 as of February 26, 2024, but the range typically falls between $104,700 and $128,000 . Salary ranges can vary widely depending on many important factors, including education , certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.

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Adolescent Center Psychologist

Washington Permanente Medical Group - Bellevue, WA

Licensed Psychologist in Private Practice

ARC Counseling and Wellness - Claremont, CA

ID Licensed Psychologist - Coeur d'Alene

The IMA Group - Coeur d'Alene, ID

Clinical Psychologist-Modesto CA

MRG Exams - Keyes, CA

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Job Description

The Clinical Licensed Psychologist Ph.D. diagnoses disorders, including nature and extent, and determines the appropriate course of treatment for the patient. Evaluates patients for mental, emotional, or behavioral disorders. Being a Clinical Licensed Psychologist Ph.D. requires a PhD in clinical psychology. Uses talk therapy to treat patient illness or distress, cannot prescribe medication. In addition, Clinical Licensed Psychologist Ph.D. requires a valid state license to practice. Typically reports to a medical director. Being a Clinical Licensed Psychologist Ph.D. works autonomously. Goals are generally communicated in "solution" or project goal terms. May provide a leadership role for the work group through knowledge in the area of specialization. Works on advanced, complex technical projects or business issues requiring state of the art technical or industry knowledge. Working as a Clinical Licensed Psychologist Ph.D. typically requires 10+ years of related experience. (Copyright 2024 Salary.com)

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Doctorate (PhD), Organizational Psychology Degree

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