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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 careers can offer exciting challenges and personal rewards, but they can also be financially rewarding as well. While psychology can be a high-paying job, you should also recognize that psychology careers and  salaries and yearly earnings can vary greatly. Many students have turned their interest toward some of the highest-paying careers in psychology. 

According to the U.S. Bureau of Labor Statistics, the average median salary for all psychologists was $92,740 as of May 2023. The highest-paying psychologist career salaries were more than $151,880.

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

At a Glance

If you are planning a career in psychology (or thinking about making a career change), you might want to consider some job options with a high earning potential. Some high-paying psychology jobs—such as those in psychiatry, industrial-organizational psychology, and clinical psychology—require advanced education and training, so it's essential to start making an educational plan now rather than later. Keep reading to learn more about the highest-paying psychology careers, the typical salaries for such professions, and the academic requirements for entering these fields.

Psychiatrist

Average Salary:  $256,930 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 on your specialty area , where you are employed, and the work you perform.

Industrial-Organizational Psychologist

Average Salary: $154,380 per year

Educational Requirements: In most cases, a master's degree in psychology is the minimum training required, although having a doctorate degree may be advantageous. While opportunities are 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 $169,890 as of May 2023. Those employed at colleges, universities, and professional schools earned an average of $93,490.

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

Neuropsychologist

Average Salary: $100,000+ 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: $96,100 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: $111,368 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: $96,100 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: $125,000 - $149,999 per year

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: $84,940 per year

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, doctors, and 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 1% over the next decade.

Sports Psychologist

Average Salary:  $60,000 to $80,000 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 utilize 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.

What Psych Career Is Best For You? Take the Quiz

This fast and free psychology careers quiz can help you get a better sense for which kind of psychology career might be the best fit for your personality, career interests, salary needs, and more.

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.

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 greatly. According to the U.S. Bureau of Labor Statistics, the median salary for psychologists is $92,740 as of May 2023. However, the lowest paid 10% made less than $52,430 per year. Your salary may depend on 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.

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

U.S. Bureau of Labor Statistics. Occupational Employment and Wage Statistics, May 2023: 29-1223 Psychiatrists .

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

U.S. Bureau of Labor Statistics. Occupational Employment and Wages, May 2023: 19-3032 Industrial-Organizational Psychologists .

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

Moralo TS, Graupner LI. The role of the industrial psychologist in managing the psychological impact of COVID-19 in the workplace .  Front Psychol . 2022;13:920894. doi:10.3389/fpsyg.2022.920894

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

Sweet JJ, Benson LM, Nelson NW, Moberg PJ. The American Academy of Clinical Neuropsychology, National Academy of Neuropsychology, and Society for Clinical Neuropsychology (APA Division 40) 2015 in professional practice and ‘salary survey’: Professional practices, beliefs, and incomes of U.S. neuropsychologists . The Clinical Neuropsychologist . 2015;29(8):1069-1162. doi:10.1080/13854046.2016.1140228

Casaletto KB, Heaton RK. Neuropsychological assessment: Past and future .  J Int Neuropsychol Soc . 2017;23(9-10):778-790. doi:10.1017/S1355617717001060

Gee DG, DeYoung KA, McLaughlin KA, et al. Training the next generation of clinical psychological scientists: A data-driven call to action .  Annu Rev Clin Psychol . 2022;18:43-70. doi:10.1146/annurev-clinpsy-081219-092500

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

American Psychological Association.  Postgrad growth area: Engineering psychology .

McAndrew LM, Martin JL, Friedlander M, et al. The common sense of counseling psychology: Introducing the common-sense model of self-regulation .  Couns Psychol Q . 2018;31(4):497-512. doi:10.1080/09515070.2017.1336076

Neal TMS, Line EN. Income, demographics, and life experiences of clinical-forensic psychologists in the United States .  Front Psychol . 2022;13:910672. doi:10.3389/fpsyg.2022.910672

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

Volpe RJ, Chafouleas SM, Gonzalez J, Ardoin S, Jimerson SR. The science of school psychologists: Developing a standard definition .  J Sch Psychol . 2022;94:A1-A12. doi:10.1016/j.jsp.2022.06.006

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

American Psychological Association. Hot careers: Sports psychology .

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

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

Doctorate (PhD), Psychology Degree

Doctorate (PhD), Psychology Jobs by Salary

Featured content, related degrees by salary.

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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.

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An entry-level Clinical Licensed Psychologist Ph.D. with under 1 year experience makes about $112,369. With less than 2 years of experience, a mid-level Clinical Licensed Psychologist Ph.D. makes around $113,152. After 2-4 years, the Clinical Licensed Psychologist Ph.D. pay rises to about $116,988. Those senior Clinical Licensed Psychologist Ph.D. with 5-8 years of experience earn roughly $122,421, and those Clinical Licensed Psychologist Ph.D. having 8 years or more experience are expected to earn about $123,391 on average.

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View Clinical Licensed Psychologist Ph.D. Salary Trends

For those exploring the changing dynamics of Clinical Licensed Psychologist Ph.D. salaries, Salary.com offers detailed insights through our Job Trending in CA Labor Market analysis. Our research highlights a notable shift in Clinical Licensed Psychologist Ph.D. compensation over the past six years. For instance, the median salary has moved from $116,960 in 2023 to about $113,402 in 2024 (for a comprehensive analysis of Clinical Licensed Psychologist Ph.D. salary trends, click here). It's crucial to consider several elements, including geographical location, experience level, industry demand, and economic development, as they play a significant role in influencing salary variations.

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FAQ about Clinical Licensed Psychologist Ph.D.

1. what are the responsibilities of clinical licensed psychologist ph.d..

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.

2. What are the skills of Clinical Licensed Psychologist Ph.D.

Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

Leadership: Knowledge of and ability to employ effective strategies that motivate and guide other members within our business to achieve optimum results.

CPA: A CPA, or Certified Public Accountant, is a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals.

Psychological Evaluations: A psychological evaluation may consist of a series of formal or structured psychological or neuropsychological tests as well as clinical interviews designed to identify and describe emotional, behavioral, or learning problems.

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Datapoint: How much do psychology graduates earn?

Vol. 52 No. 8 Print version: page 21

• Working as a Psychologist
• Salaries of graduates with psychology degrees in the United States vary widely, with those who have higher degrees tending to earn more. 1, 2
• The median salaries of psychology bachelor’s, master’s, and doctoral/professional degree holders in 2019 were $50,000, $60,000, and $90,000, respectively. 3
• About 38% of bachelor’s degree holders earned at least $60,000, the median salary of master’s degree holders.
• About 17% of bachelor’s degree holders and 19% of master’s degree holders earned at least $90,000, the median salary for doctoral or professional degree holders.

2019 salary distributions by psychology degree level

Want more information? See CWS’s interactive data tools  or contact CWS .

Note: Salaries greater than $200,000 were combined in the last group.

1 National Science Foundation, National Center for Science and Engineering Statistics. (2021). 2019 National Survey of College Graduates. [Public use data file]. https://ncsesdata.nsf.gov/datadownload/ .

2 Data include psychology graduates working across a wide range of work sectors and occupation types, including psychology and non-psychology related jobs.

3 Values are based on full-time (35 hours/week or more) annual salary. These salaries have not been adjusted for inflation.

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