Salaries for psychologists are varied depending on the area of specialty, the nature of degree and the particular place of employment. Psychology as a subject offers a number of diverse opportunities of employment be it clinical psychology, school psychology or sports psychology. There is a lot of demand for psychologists in sectors such as mental health units, social service organizations, hospitals, schools, consulting firms, and private organizations.
Depending on the area of specialization the psychologist may deal with a spectrum of issues relating to behavioral problems. The psychologists may be employed by a corporation, an institution or organization or they may be practicing independently. Hence the salaries for psychologists can depend on the field, subfield, organization etc by which he is employed.
As per the Occupational Outlook Handbook brought out by the Department of Labor in U.S. the average salaries for psychologists in the year 2002 was $51,170. On the lower side the salary was below $30,000 while it was more than $87,000 earnings in the higher 10 percent bracket.
Annual median salaries for psychologists- counseling, school and clinical psychologists in the year 2004 totaled to $ 54,950. On the lower side the salary was below $32,280 while it was more than $92,250 earnings in the higher 10 percent bracket. About 50 percent, falling in the middle bracket earned salaries ranging from $41,800 to $ 71,820.
Apart from the education and level of experience, salaries for psychologists depend on the kind of industry employing them. Hospitals pay higher salary to the psychologists than other industries. Moreover experience adds up to the increase in earnings. This is natural and all the more relevant in the field of psychology where considerable amount of learning takes place by practical experience on the job.
Salaries for psychologists vary according to the discipline chosen. The average earnings of a psychologist may be around $ 56,000. Psychiatrists top the list of high earners ($144,000) owing to their specialized training followed by organizational or industrial psychologists.($ 97,000) This may be due to the fact that they are placed in large corporations or industrial houses. A forensic psychologist could also earn lucrative salaries more so if he resides in a favorable location.
Salaries for psychologists in various jobs like career counseling may total to an annual average of $ 46,000, for a clinical psychologist it may be around $63, 000, a counselor could expect $ 47,500, a cognitive psychologist about $ 55,000. An engineering psychologist could earn around $79,000, while an experimental psychologist could expect to earn $ 56,000. A health psychologist could expect earnings ranging from $ 40,000 to $ 90,000 depending on the area of expertise and level of experience. School counselors, social workers, sports psychologists, school psychologists and substance abuse counselors can get salaries ranging from $ 43,000 to $ 60,000 depending on their experience. Salaries for psychologists vary even on the basis of the area or state. New York and California have been listed to pay high salaries for psychologists with New York City and Los Angeles topping the chart among the cities.