Job Outlook and Salary Information for Careers in Psychology
Qualified psychologists can work in a wide range of specialties and work environments. This breadth of job possibilities makes a degree in this subject an excellent place to start a career, since you can be flexible about the direction in which you go. This is particularly useful in today's unstable and unpredictable economy.
The internship that generally accompanies a psychology degree – at any level – can prove a very helpful step in job placement, as it introduces you into a workplace where hire may be possible. It also helps you start forming a network of professionals in the field, who may be able to help you in the future with finding work and providing recommendations.
Counselors and psychologists have such an important function in our society that the demand for their work assures, to some extent, their job security. The American Psychology Association recently reported that nearly 75% of psychologists with a doctorate degree obtain their first job choice. This statistic illustrates both the high social value of psychologists, and the importance of higher education within the field.
Because psychologists and counselors are so valued in our society, there are many programs available to reward field work with student loan forgiveness. Many of these programs are aimed at bringing counselors to under-privileged or rural areas, where there is a large need for services. Many of these organizations are government funded, and allow a generous percentage of your student loans to be paid off after you work in a given company or specific field for a certain amount of time (usually two to three years.) For students with loans for master's or doctorate level degrees, such loan payment assistance can be especially helpful.
The Figures: Salary and Employment Statistics for Psychologists
The Bureau of Labor Statistics reports that in 2008 the mean salary for clinical, counseling, and school psychologists was $70,190. The mean salary for industrial-organizational psychologists was a little higher, at $86,460. The mean salary for “other psychologists”, including forensic psychologists and those working in research, is the highest, at $90,460.
In 2008, in the states with the highest concentration of workers in the unspecific “psychology” field, the highest rate of unemployment was just .017%. In the states with the highest pay for this field, the highest rate of unemployment rate was just .015%. In metropolitan areas with the highest concentration of workers in this field, the highest unemployment rate was .073%, and in the metropolitan areas with the highest pay in this field, the highest unemployment rate was .020%.
In addition to the demand within the general public for psychological services, job security in this field is boosted by the existence of government-run and government-funded organizations providing counseling and treatment for under-privileged individuals. Such facilities provide extensive and continuous opportunities for service, often despite job fluctuation in the general market.
Article Resources:
The U.S. Bureau of Labor Statistics
The American Psychological Association