What is the Job Growth Outlook for PsyD Degree Grads?
There are many career paths that you can follow when you earn your doctorate in psychology. The job growth potential and salaries of these positions will vary a great deal. Also note that what your income will be in some of the jobs listed below will depend upon where you are in the US, whether you are in the private or public sector and how many years of experience you have.
Below are some of the most common jobs that people obtain with a doctorate in psychology, and their job growth outlooks and salaries:
Becoming a psychiatrist is one of the most financially rewarding jobs in the field of psychology. Note that salaries can vary a great deal depending upon your speciality and where you work.
The Bureau of Labor Statistics (BLS) states that the median annual wage in this profession is $168,000 per year. BLS also indicates that the job growth in this field will increase by 22% in the next 10 years, which is much faster than average.
#2 Industrial-Organizational Psychologist
There are opportunities in this field with your master’s degree, but earning your doctorate in psychology will provide you with more job opportunities and a chance for a higher salary.
An industrial-organizational psychologist will use their psychology expertise to deal with difficult workplace problems. You will help people to increase worker productivity and help them to choose the best employees for certain jobs.
BLS states that the median annual wage for psychologists in this field is $115,000. The field of psychology is expected to experience job growth near 20% in the next 10 years, which is far above average.
#3 Clinical Psychologist
As a clinical psychologist with a doctorate, you will assess, diagnose, treat and prevent many types of mental illness. This is the most popular area of employment in psychology. You can work in many places, such as hospitals, mental health facilities and also in private practice. You should know that your salary will largely depend upon your years of experience. If you have five years of experience, your salary is only about $55,000, but once you get more than 10 years of experience, you will earn over $100,000 per year.
BLS states that the field of clinical psychology will have job growth of 20% by 2020.
#4 Counseling Psychologist
A counseling psychologist will usually do most of what a clinical psychologist does, but they usually work with people who are suffering less severe types of mental illness. In this type of job, you also can do research, teach classes at a college or even provide vocational counseling.
You should expect a median salary of $73,000 per year.
#5 School Psychologist
Most school psychologists work in the educational system to help children with behavior and learning problems. They often work with other professionals, such as teachers and doctors and parents to help children get over emotional problems. The median salary in this career is near $60,000, and job growth is expected to be around 12%, according to BLS.
A neuropsychologist studies the brain and cognitive sciences. People who work in this career field often do cognitive tests, do brain scans, assess people who have had a brain injury, and also look into how drugs affect our nervous system.
The typical neuropsychologist earns a median salary of $90,200 per year, and job growth is expected to be close to 20% by 2020, according to BLS.